Anshu Jain, co-CEO of Deutsche Bank, said the current climate would move banks to consolidate. According to Deutsche Bank co-Chief Executive Officer Anshu Jain, consolidation in the banking industry is 'inevitable'.
Sectors
Consob investigation on Lauro 61 to yield results
According to an Italian daily, market regulator Consob is investigating Camfin's offer for Pirelli shares if the same is properly valued.
Turkey plans establishment of industrial zone in Addis Ababa
Turkey said it intended to create an industrial zone in Addis Ababa on land assigned to Turkey by the Ethiopian government.
BioMerieux purchases BioFire
BioFire is bought out by BioMerieux for USD450 million, funded through debt. In an announcement, BioFire Diagnostics would be bought out by BioMerieux for USD450 million.
News Corp sells 33 local newspapers for an undisclosed amount - report
News Corp. sold 33 local newspapers of its newspaper portfolio to Fortress Investment Group LLC. An Associated Press report said that News Corp. sold 33 smaller publications of its newspaper portfolio to Fortress Investment Group LLC for an undisclosed amount.
Latest News
China urged its Asian neighbors to forge stronger financial ties in the wake of the Federal Reserve's plan to taper its stimulus package.
The Royal Bank of Canada named Jonathan Golub to head the investment banking unit of RBC as its new chief market strategist for the US.
Former TNK-BP executive Mikhail Slobodin replaces Anton Kudryashov as head of Vimplecom's Russian business.
Fiat union leaders said the carmaker would invest nearly EUR 1 billion to make the Maserati SUV in its Turin factory.
Almarai Co would be issuing the first sukuk bond issue with four banks to be arranging the investor meetings.
REIT British Land said it would buy 50% of Southgate, a shopping center in Bath, for GBP 101 million.
Raiffeisen Bank International said it would be buying out the minority stake in its Croatian business.
Affin Holdings Bhd (AHB) was picked over its biggest competitor, AMMB Holdings Bhd (AMMB), to start talks in purchasing most of Hwang-DBS Malaysia Bhd's investment banking assets.
Indonesia has been losing its attraction as a private equity goldmine due to increased competition, shifting government regulations and high valuation prices.
