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UBS Settles
UBS has reached an agreement with US housing agencies to settle claims it had mis-sold mortgage investments. The Swiss bank said it had reached an agreement in principle with the Federal Housing...
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Apple Bites Back
Shares of computer and smartphone maker Apple rose nearly 5% in after-hours trading after it reported better-than-expected profits for the third quarter. It made $6.9bn (£4.5bn) profit for three months...
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Chinese Buy Northparkes
Rio Tinto has agreed a deal to sell its 80% stake in Northparkes copper and gold mine in Australia to China Molybednum for $820m (£530m). Rio has been looking to sell assets as part of its $5bn...
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HSBC SS BG Cash Backed
From August 2013 Securities Brokers & Traders around the globe will be on the look-out for HSBC Bank Guarantees which are cash backed and seasoned. One of the largest buyers of HSBC paper in the...
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Are PPP’s Real?
There are many out there who deny the existence of PPP’s and trading platforms and bullets because the returns are crazily high and they have failed to get their asset to trade. The reality is that...
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Siemens Loescher Out?
Siemens has cleared the way to oust its chief executive following another profit warning last week. The German engineering giant said its supervisory board would decide the fate of Peter Loescher and...
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Hudson’s Bay Snaps Saks
US high-end department store chain Saks has been snapped up by Canadian retailer Hudson’s Bay Company in a $2.9bn (£1.9bn) deal. Hudson’s Bay, which operates department store chain Lord & Taylor in...
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Facebook Shares Pass $38
Facebook shares have risen above the $38 flotation level for the first time since they began trading in 2012. The world’s largest social networking site saw its price rise as high as $38.31 in morning...
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Fonterra “Sorry”
The boss of New Zealand dairy firm Fonterra has apologised for the distress caused to parents because of a scare over contaminated products. Theo Spierings was speaking in China after it emerged on...
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Bezos Buys Washington Post
The boss of Amazon, Jeff Bezos, has agreed to purchase the Washington Post newspaper for $250m (£163m). Mr Bezos is buying the paper and its other print properties in a personal capacity. The Post has...
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Japan Growth Slows
Japan’s economy expanded at a slower pace than most analysts expected in the second quarter. Gross domestic product grew 0.6% in the April to June period, indicating an annualised increase of 2.6%,...
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US/American Merger Blocked
The US justice department has filed an anti-trust case to block the merger of American Airlines and US Airways. The $11bn (£7bn) deal, which would form the world’s largest airline, was backed by a...
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Al Jazeera USA
Al Jazeera is launching a new TV news channel in the United States. Al Jazeera America will be available in almost 48 million US households, offering 14 hours of news each day. The new network replaces...
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Merrill Intern Death
Bank of America Merrill Lynch has launched a review of working conditions for junior staff after the death of an intern employed at its London offices. Moritz Erhardt, 21, was found dead at his home...
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Summers Quits Race
Former US Treasury Secretary Larry Summers has withdrawn his candidacy to succeed Ben Bernanke as head of the US central bank, the Federal Reserve. In a letter to President Barack Obama, Mr Summers...
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VC Invests in Allied Newspapers
VC C Capital in Hong Kong has announced it has agreed to acquire a significant stake in the Allied Newspaper Group; also based out of Hong Kong. The deal represents a lifeline for the stricken online...
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Microsoft Warning
Microsoft has warned that hackers could exploit a “vulnerability” in its operating system to gain user rights to the affected computers. It said attackers could exploit this by requesting users to...
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JP Morgan Agrees $4.5B Settlement
US investment bank JP Morgan has agreed to pay $4.5bn (£2.8bn) to investors who lost money on mortgage-related securities during the financial crisis. The settlement is with 21 major institutional...
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End of the Mark
The East German mark, commonly called the eastern mark was the currency of the German Democratic Republic (East Germany). Its ISO 4217 currency code was DDM. The currency was known officially as the...
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Economy Shrinks 0.5% for Brazilian third quarter
Brazil’s economy fell into contraction in the third quarter, with output shrinking by more than analysts had forecast, according to official state figures. The Instituto Brasileiro de Geografia e...
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