The US Treasury Department will meet with the banking industry in December to give guidelines on how to deal with marijuana businesses in states that have legalized marijuana use.
Sectors
China's Metals Demand to Shift Towards Consumer Products - report
China has accounted for as much as 80% of global growth in metal demand in recent years, driven by its extensive investments in infrastructure and real estate projects.
Philippines Pension fund to invest extra $46M in stocks
The Philippines' state-run pension fund Government Service Insurance System (GSIS) allotted PHP2 billion of its cash for additional investments in local stocks, according to the firm's president Robert Vergara.
Urban poor, new target for investors in India- report
A Business Standard report said impact investors and social entrepreneurs in India are now concentrating their investments on the urban poor market. These social ventures have been steadily gaining ground with investors providing seed and early stage capital.
RDR brings private equity to wealth management market- report
Reforms made in the financial services industry through the retail distribution review or RDR implemented in January by a UK regulator has brought private equity to the arms of wealth managers, according to a report from Citywire.
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The following bids, mergers, acquisitions and disposals were reported on Wednesday including Telefonica Deutschland, Devon Energy, Metro AG, Devon Energy Corp and others
Legal-focused startup Shake received USD 3 million in its Series A funding round led by SoftBank Capital. Shake is an iOS app that allows users to make and sign effective legal agreements on the go.
Private equity firm Bain Capital LLC has ended advanced talks with auto parts supplier TI Automotive Ltd over a possible buyout after failing to meet TI's price expectations of close to $2 billion, according to people familiar with the matter.
Bank of America CEO Brian Moynihan and Federal Reserve Board Governor Jerome Powell will be among bank executives and regulators speaking at an industry conference in New York hosted by The Clearing House Association, which represents interests of the biggest commercial banks.
The United States could start missing payments on its obligations some time between March and June if lawmakers don't raise a legal limit on borrowing by early February, congressional analysts said on Wednesday.
YuanShengTai Dairy Farm, China's fourth biggest raw milk producer, has priced its Hong Kong initial public offering (IPO) at HK$2.70 per share, below the mid-point of expectations, IFR reported.
Private equity firm Silver Lake has hired JPMorgan Chase & Co, Barclays Plc and Morgan Stanley to lead a potential initial public offering of Mercury Payment Systems LLC, according to people familiar with the matter.
Sirius Financial Services, Inc. acquired a new subsidiary, Farmica Africa, a producer of Lemon grass based products including tea, soap, an energy drink, insect repellant and essential oil.
Colombia's second-largest bank, Banco de Bogota, will issue up to 1.3 billion pesos ($677 million) in stock on Wednesday to raise cash to pay for BBVA Panama, which it announced it was buying in July, it said on Wednesday.
