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29 Mar 2005 06:57 AM
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EQT, Goldman pay $3.8 billion for Danish cleaning company:
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EQT Partners AB, a private equity firm, in conjunction with Goldman Sachs Group Inc.’s private-equity unit, have announced their decision to purchase the largest cleaning company on the globe, Denmark-based ISS A/S. The value of the deal is $3.8 billion in cash.
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28 Mar 2005 06:13 PM
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UK interest rates are likely to rise:
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Two members of the Bank of England’s monetary policy committee voted this month to raise interest rates, marking an increase from one member in February and shortening the odds of a rate rise in the near future.
Sir Andrew Large joined Paul Tucker as opponents to the majority view on the nine-member committee, according
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28 Mar 2005 05:22 PM
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Wolfowitz is about to be approved by the Board:
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Europe’s disappointment with nomination of Paul Wolfowitz as head of the World Bank seems to have abated since leaders are discussing the possibility to approve the neoconservative American’s appointment.
People familiar with the situation said some European Union finance ministers, met in Brussels on March 22 to discuss
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28 Mar 2005 04:49 PM
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CSFB will turn its private-equity fund business into private entity:
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Credit Suisse First Boston is getting a reputation among some private-equity investors as a firm that can’t shoot straight, according to the Wall Street Journal.
After
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28 Mar 2005 09:59 AM
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Barclays ATMs left thousands without cash in England:
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Barclays Bank’s customers were unable to withdraw cash from the bank’s cash machines across southern England. It left thousands of customers without cash on Easter holidays.
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28 Mar 2005 07:59 AM
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China to pursue strict banking policy:
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The China Banking Regulatory Commission has told banks to take prompt action to combat loan fraud and other illegal transactions amid a series of abuses that caused lenders losses totaling hundreds of millions of dollars.
The
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25 Mar 2005 11:52 AM
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World-famous philanthropist fined €2.2 million:
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French appeals court rejected the appeal of George Soros, the Hungarian-born billionaire investor, against his conviction on insider trading in a French bank in 1988.
Pleading no guilty, Mr Soros said: “My reputation is at stake. I have many enemies all over the world, not only in America but in the former Soviet Union and in parts of Asia. The conviction by the lower court was a gift to my enemies
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24 Mar 2005 07:29 PM
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Citigroup leaves HSBC behind in loan market:
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HSBC Holdings Plc, the biggest corporate lender in the Asia-Pacific region in 2003, is left behind by its competitors led by Citigroup Inc. in the world’s fastest-growing loan market.
HSBC, founded as Hongkong & Shanghai Banking Corp. in 1865, made $8.1 billion of loans for Asian companies
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24 Mar 2005 05:14 PM
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Home Loan banks are going to play a bigger role:
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Following the increase in interest rates, some representatives of the home-building and finance industries are urging the Federal Home Loan Banks to play a more significant role in financing mortgages.
By competing more directly with Fannie Mae and Freddie Mac, according to officials of the National Association
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24 Mar 2005 03:18 PM
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Fannie may be headed by McDonough, Gramm or Shea:
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Fannie Mae, the largest buyer of U.S. mortgages, announced an intention to hire former New York Federal Reserve President William McDonough as chief executive officer, said people familiar with the matter.
The government-chartered mortgage finance company has also discussed the appointment to this post with William Shea, the former chief executive of insurer Conseco Inc., and Phil Gramm, a former Republican senator
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24 Mar 2005 01:20 PM
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Pimco’s El-erian purchases emerging-market debt:
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Mohamed El-Erian, the world’s biggest emerging-market bond fund manager, considers the largest decline in developing country debt in 10 months a buying opportunity.
As developing-nation bonds declined last week, El-Erian was adding Brazilian and Russian securities to the $20
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23 Mar 2005 07:25 AM
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Mortgage applications fell by 9.5% in the last week: MBA:
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Mortgage applications fell by 9.5% in the week ended March 18 due to an increase in mortgage rates, according to the Mortgage Bankers Association (MBA).
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22 Mar 2005 08:39 PM
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Menezes from Citigroip may be sued by SEC over a $29.8 million stock sale:
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Citigroup Inc.’s former head of emerging markets, Victor Menezes, may be involved in a federal insider- trading lawsuit regarding a $29.8 million stock sale 18 days before the world’s largest bank reported a $2.2 billion loss in Argentina.
According
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22 Mar 2005 06:52 PM
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The proportion of dollar reserves remains unchanged in South Korea:
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The South Korean central bank said it would invest in a broader range of assets in order to earn maximum profit from its big foreign-exchange holdings. But bank officials denied that they were eager to change the proportion of reserves held in dollars.
The
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22 Mar 2005 06:12 PM
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Morgan Stanley and UBS allegedly helped Parmalat hide costs:
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Morgan Stanley and UBS AG supported Parmalat Finanziaria SpA, Italy’s largest foodmaker, in hiding the cost of selling 720 million euros ($962 million) of bonds six months before it declared bankruptcy, according to a report prepared for Milan prosecutors.
Morgan Stanley used derivatives to help Parmalat sell 300 million euros of bonds that resulted for investor in a higher
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