Banking industry
The European high yield market, which had been closed for six weeks in the second quarter, is showing signs of recovery. Despite the uncertainty surrounding the economic impact of last week's attacks in London, sources predict that Europe will witness issuance levels similar to 2004's 29.
Banking industry
Wilken von Hodenberg, the speaker of the board of management at Deutsche Beteiligungs, believes that German buy-out firms can build long-term credibility and become as large as their foreign competitors. The company, founded in 1965, has focused on German mid-market deals, typically with a transaction value of between €50m and
Banking industry
Getronics, a leading global provider of IT services, has announced a five-year contract with Deutsche Bank for service desk and desktop services primarily based in the US and UK. This expansion builds on Getronics' existing three-year relationship with the bank, which provides services for Deutsche Bank's remote
Banking industry
Bank of America announced a $35 billion deal to acquire the MBNA Corporation, one of the largest issuers of credit cards, in a move aimed at diversifying its business and increasing its cash flow. The bank, already the nation's third-largest, will gain about 20 million new customer accounts
Banking industry
Bank of America, in partnership with Fox Sports Net and Major League Baseball, is bringing the spirit of Independence Day to U.S. troops serving at home and abroad. The bank will present a special television broadcast, "Bank of America Presents: An American Celebration at Ford's Theatre
Banking industry
Creditors of South Korea's No. 3 builder, Daewoo Engineering & Construction Co. (Daewoo E&C), have withdrawn their lawsuit seeking repayment of a US$530 million loan on behalf of a former affiliate. The decision comes after reviewing the breakup process of Daewoo Corp., the trading arm
Banking industry
At least 50,000 Australians have had their credit card details stolen as part of a massive US-based security breach. The breach, which was disclosed by MasterCard over the weekend, is believed to have been traced back to Atlanta-based CardSystems Solutions. National Australia Bank (NAB) was among the first to
Banking industry
Bank of America is set to make a significant move in the Chinese market with plans to invest up to $3 billion in China Construction Bank, a deal that would be the largest foreign investment in the country's banking sector. As part of the agreement, Bank of America
Banking industry
Michael Jackson's struggle to pay his $270m debt to Bank of America has been exacerbated by his inability to generate significant revenue from record sales and tours. Despite being one of the most successful artists of all time, Jackson's financial woes began when he made out-of-court
Banking industry
Royal Bank of Scotland's (RBS) chief executive, Sir Fred Goodwin, has provided a reassuring update on the bank's exposure to UK consumer bad debts, citing a return to more normal levels of credit card arrears. The bank has also reported strong revenue growth from corporate banking
Banking industry
Chris Campbell's sudden departure from Dundas & Wilson, just a few months after being re-elected to head the firm until 2010, has sparked intense speculation among top Scots business lawyers. Campbell's appointment as deputy general counsel and director of group legal services at Royal Bank of
Banking industry
The UK's largest cable TV operators, NTL and Telewest, are engaging in merger talks, further fueling speculation about a potential combination. Both groups have appointed financial advisors, with Telewest hiring Deutsche Bank and Rothschild, and NTL opting for Goldman Sachs. The merger is estimated to be worth £5.
