March 5 The following corporate finance-related
stories were reported by media on Tuesday:
* A U.S. senate committee, which began an inquiry into
JPMorgan Chase & Co's multi-billion dollar trading loss
last year, is expected to fault certain executives in its report
for allowing the bank to build bets without fully warning
regulators and investors, the New York Times reported, citing
people briefed on the inquiry.
* The City of London's big banks are considering suing the
European Union over rules to cap bonuses after receiving legal
advice that the pay regulation could be struck down in court,
the Financial Times reported
* Goldman Sachs Group Inc is trying to find ways to
keep investing in the profitable, albeit risky, business of
buying and selling companies without crossing a rule that will
restrict private equity investing, three sources familiar with
the new business said over the past week.
* The UK Financial Services Authority is preparing to crack
down on asset managers using investors' money to pay for access
to chief executives after discovering that some are spending
"tens of millions of pounds" a year on corporate access, the
Financial Times reported.
* HSBC Holdings Plc's management has all but ruled
out a relocation of the bank's headquarters to Hong Kong,
stressing it is committed to keeping its domicile in the UK
despite the threat of new European bonus restrictions, the
Financial Times reported.
* Deutsche Bank is offering a block of 10 million
shares in retailer J C Penney Co Inc that is being sold
by Vornado Realty Trust, a source familiar with the
offering said on Monday.
* Private equity owners are preparing to take HD Supply
public, nearly six years after buying the industrial
distribution company out of Home Depot Inc for $8.5
billion, two people familiar with the matter said on Monday.
* U.S. oil and gas explorer Anadarko Petroleum Corp
and Indian billionaire Venugopal Dhoot have launched the auction
of a 20 percent stake in a Mozambique gas field that could fetch
$4.5 billion, sources familiar with the matter told Reuters.
* Private equity firm KKR & Co LP is nearing a deal
to buy industrial machinery maker Gardner Denver Inc and
could announce the agreement in the next few days, two people
familiar with the matter said on Monday.
* The foundation shareholder of Italian bank Banca Carige
SpA is not concerned about a possible dilution of its
controlling stake in the lender as a result of a capital
increase, a source close to the situation said on Monday.
* Italy's Moleskine has begun marketing a planned initial
public offering to potential investors, sources told Reuters on
Monday, while the notebook maker said it had filed a request to
list in Milan.
* Axiata Group Bhd, the Malaysia-based telecom
operator has approached Bharti Airtel Ltd to acquire
the Indian operator's business in Sri Lanka, according to people
privy to the development, the Business Standard reported on