Fairfax Financial Holdings Ltd had until November 4 to negotiate a definitive agreement to buy out Blackberry Ltd.
Merchant banks
UAE banking rules criticized, government revision soon to come out
With vigorous criticism of the rules on banking exposure related to government related debt, the UAE central bank was forced to review the rules and study on how to lessen its harsh effects.
Norway's financial regulator requires 'too big to fail' tag on eight banks
Eight banks were identified as 'too big to fail' by the Norwegian financial regulatory authority.
UBS AG and Credit Suisse Group AG may need to downsize with higher ratios
With Switzerland requiring higher capital ratios, banks may be hard pressed to continue with their normal operations according to JPMorgan Chase analysts.
JPMorgan hiring practices under review
JPMorgan Chase hiring practices now being reviewed by US, British and Hong Kong regulatory authorities.
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NBAD Group CEO Alex Thursby identified seven highly urbanized cities where the bank would set up its operations.
More than seven banks are changing projecting that the European Central Bank would cut its interest rates after its meeting this November.
Morgan Stanley, in the wake of outrage from bailouts in the last crisis, is seeking investments that provide long term social benefits for the community.
A USD1 billion syndicated loan was formalized by Banco do Brasil with five international lending institutions.
BicBanco's 72% would be acquired by China Construction Bank Corp for BRL1.62 billion. China's second largest financial institution in terms of assets, China Construction Bank Corp, had entered into an agreement to pay BRL1.
For an undisclosed amount, Wells Fargo settles with FHFA on issue of faulty mortgages issyes In an agreement to settle claims with the Federal Housing Finance Agency, Wells Fargo agreed to pay less than USD1 billion to resolve the issue on the bank's alleged knowledge of the faulty nature of mortgage bonds sold to Fannie Mae and Freddie Mac.
Without government backing, Citigroup is now offering mortgage backed securities backed by prime jumbo mortgages mortgages from private sources.
Staff-less branches is the future, according to Mashreq Bank CEO. In a move its CEO says would be a way of the future, Mashreq Bank had planned to open its first fully electronic branch without any staff by January.
Judge Mariana Pfaelzer of the US District Court of Los Angeles temporarily approves Countrywide settlement for devalued residential mortgage backed securities.
