UBS, in line with its austerity measures, is decreasing its office space in UBS building, Manhattan.
Sectors
JP Morgan CEO to have more oversight
The proposal to either split the CEO and Chairman position or impose more oversight of the CEO-Chairman subject to approval by JP Morgan shareholders.
BMC Software to be bought out
A consortium of private equity firms are in the process of buying out BMC Software. A consortium consisting of Bain Capital and Golden Gate Capital Corp are near to finalizing a deal that would lead to the acquisition of BMC Software.
Hopeful Recovery for Vietnam
Vietnam's foreign exchange decline now reversing. In a report from Reuters, it was disclosed that the inflows of foreign investments to Vietnam had already reached US$2.
M&A Inducive Market Is Now Here with All the Good Signs
The M&A market is now primed for growth after a dip in the past few months. Cash rich companies are now in the midst of a mergers and acquisition spree that can help boost the European equities market rally after being stalled for quite some time.
Latest News
Orsi, arrested for the India helicopter scam, was released pending trial. Former Finmeccanica CEO has been released from jail pending trial on charges of corruption next month.
Asian nations issue statement to avoid mistakes that lead to 1997 currency crisis. Major regional economies in Asia need to be on guard against execssive risks and asset bubbles boosted by efforts of central banks efforts to build economic growth.
The Commercial Bank of Rwanda is the first IPO to be done in the Rwandan Stock Exchange. Rwanda has just announced that two companies, namely the Commercial Bank of Rwanda and the national air carrier RwandAir would be listing in the country's fledgling stock market.
EU advises France to lower its budget deficit. Michel Barnier, the EU Internal Market Commissione advised the French government to undertake its planned reforms.
Ray Irani bids adieu to Occidental. Occidental Petroleum Corporation's Chairman Ray Irani was ousted from his position as Chairman last Saturday by the shareholders of the firm.
Kingdom Holding obtains refinancing for its Savoy Hotel purchase loan. In an announcement, Saudi Arabia's Kingdom Holding Co agreed to enter into a refinancing agreement on the debt it had used to purchase the Savoy Hotel in London.
New Century prepares for an IPO estimated to earn US$300 million. China's largest privately owned hotel chain mogul, the New Century Hotel Group, is planning to raise US$300 million in its first initial public offering by a real estate investment trust within the next two years.
ISS advises shareholders in JP Morgan to elect independent chairman. Proxy advisory firm Institutional Shareholder Services advised JPMorgan Chase & Co to disassociate the duties of a Chairman from the Chief Executive Officer.
Reliance deemed as frontrunner to acquire IMG. In a report from the Indian Express, it was disclosed that the Chairman of Reliance Industries Ltd. Mukesh Ambani is in discussion regarding the acquisition of IMG Worldwide, a talent agency based in New York, according to anonymous Reliance officials.
