Emirates NBD agreed to a five year sponsorship deal with Manchester United Football Club. The largest bank in the United Arab Emirates, the Emirates NBD, recently announced a five year partnership agreement with Manchester United Football Club.
Merchant banks
Barclays to close wealth management services
In a bid to reduce complexity and increase profits, Barclays is shutting down its wealth management services in 130 countries.
Monte dei Paschi cancels coupon payments
Monte dei Paschi decided to cancel its coupon payments in order to meet EU bank requirements. A decision to cancel coupon payments was done by Monte dei Paschi di Siena on three hybrid loans set to fall due by the end of the month to comply with European conditions for the approval of a EUR4.
ThyssenKrupp gets break, obtains extension of credit lines
In a move designed to avoid default, ThyssenKrupp was able to receive an extension of its credit lines from banks before its planned share sale.
ECB supervision to be operational by January 2014 according to Mersch
Yves Mersch, ECB board member, projected the completion of the staff complement for the regulatory authority by late 2014.
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A settlement was reached between a consortium of banks and liquidators over the current legal dispute over the collapse of the Bell Group of Australia.
Eivind Kolding's reign as Danske Bank CEO ended when the bank fired him. In a surprise decision, Eivind Kolding, Danske Bank A/S CEO was fired after less than two years on the job.
The Chinese government, amidst calls for a pending crisis due to bad debts, is pushing its banks to shore up its capitalization in compliance with Basel III.
Raiffeisen Bank International had been drubbed by bad debts in its Eastern European business as well as insolvencies and restructuring in its home country of Austria.
The 'Lehman Weekend' was the height of the financial crisis five years ago and may be repeated if 'shadow banking' would be allowed to continue without regulatory action.
The Bank Recovery and Resolution Directive for all EU members to recognize the Single Resolution Mechanism would be created after the German elections.
Lawyers of the European Union said the proposed transaction tax plan was illegal. European Union lawyers said the transaction tax plan proposed by eleven European member states was illegal.
OGX Petroleo, Eike Batista's flagship company, may seek more financial assistance from bondholders to avoid seeking bankruptcy protection.
Indian banks are seeking to set up shop in Mauritius in order to gain from possible business the African continent would provide.
