U.S. Fed approves merger request of two Texas banks
WASHINGTON (Reuters) - The U.S. Federal Reserve said on Wednesday it had approved a merger request from Texas-based financial firms Cullen/Frost Bankers (CFR.N) and WNB Bancshares.
The two firms announced the merger plans in August 2013. The Fed said their subsidiary banks, Frost Bank and Western National Bank, would also merge. Frost Bank, the surviving entity, would remain the sixth largest bank in Texas, the Fed said.
NEW YORK - A deal to resolve a U.S. regulator's claims against Goldman Sachs Group Inc over mortgage-backed securities sold to Fannie Mae and Freddie Mac leading up to the financial crisis could cost the bank between $800 million and $1.25 billion, according to a person familiar with the matter.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.