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...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...Ng has also overseen more of CICC’s services being offered in Singapore....
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at igniteseurope.com....
...an Argentine naval vessel during a protracted tussle with the Latin American nation — British water company legislation restricts the ability of bondholders to seize assets if Thames Water is unable to service...
...McKernan told the Financial Times he wants to monitor compliance with those “passivity letters” by asset managers....
...Spac Saviour A Spac deal involving Donald Trump’s social media platform Truth Social could provide the former US president with a financial lifeline to pay a $454mn penalty, the New York Times writes....
...In July 2021, the SEC fined UBS Financial Services, now owned by Credit Suisse, $8mn for holding short-term, volatility-linked ETPs for customers longer than designed....
...On Monday, the Virginia-based bank said it had agreed to acquire Discover Financial Services for $35bn, to be paid all in stock....
...Equity swaps are financial instruments that allow investors to gain exposure to a stock. They are commonly used by hedge funds to build positions in companies and are typically facilitated by big banks....
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...Financial markets closed UK: Labour Force Survey key indicators Results: Caterpillar Q4, Estée Lauder Q2, Itochu Q3, Kikkoman Q3, Loews Corp Q4, McDonald’s Q4, Mitsubishi UFJ Financial Group Q3, NXP Semiconductors...
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...Smart reads The fugitive Wirecard chief operating officer Jan Marsalek wasn’t just responsible for Germany’s largest financial fraud in history....
...venture is Leslie Lieberman, an executive who got his start at former investment bank Drexel Burnham Lambert, worked on mergers and acquisitions at Kidder Peabody and bought banks in the wake of the 2008 financial...
...An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
US investment firm says board of high street group has failed to engage with it
...Even so, I imagine that plenty of those who keep the shares aloft until then would remain glad to have been of service....
Redwheel says they are ‘in complete agreement’ that business is worth substantially more than Elliott’s offer
...What is a “transportation service”? It’s one of just a few services costs that drove an acceleration of consumer prices in January: Shelter costs, transportation services and medical services....
Co-founder of telecoms group Crown Castle criticises agreement to offer board seat to powerful hedge fund
...Financial markets closed Germany: GfK consumer climate survey Italy: Liberation Day holiday....
...One option for the Australian government would be to “designate” Meta, which would force the company into arbitration over payments to media companies or face financial penalties....
...RJ David has left Carlyle to join rival private equity group Broad Sky Partners, which focuses its investments on middle market business services and consumer services companies....
...To be sure, there may be instances when a sale to a mega bank will minimise both financial and social costs....
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