Dec 4 The following corporate finance-related
stories were reported by media:
* Global banking regulators are expected to ease a new
capital rule due in 2018 to rein in risky balance sheets after
U.S. complaints, two regulatory and banking sources said on
* Bankrupt mortgage lender Residential Capital LLC has
struck a deal with a class of bondholders to resolve the group's
objection to its plan to exit bankruptcy, according to a source
familiar with the matter.
* Retailer Kering has received four offers for its
loss-making La Redoute mail order unit and plans to hold a board
meeting to choose a bidder on Wednesday, sources said.
* EU antitrust regulators will impose record multi-million
euro fines on six banks including Citigroup, Deutsche Bank
and Royal Bank of Scotland on Wednesday for
rigging key interest rate benchmarks, sources said.
* Baupost Group, one of the world's biggest hedge funds,
plans to return roughly $4 billion to investors as it trims its
size for only the second time in its 31-year history, two people
familiar with the fund said.
* OGX Petróleo e Gas Participações SA and its
creditors are close to a deal to transform some of OGX's $5.1
billion debt into stock, stripping Brazilian businessman Eike
Batista of a controlling stake in the oil company, two sources
with direct knowledge of the situation said on Tuesday.
* Sycamore Partners LLC is in advanced talks to acquire
off-price chain store K&G from Men's Wearhouse Inc, the
clothing retailer embroiled in a takeover battle with Jos. A.
Bank Clothiers Inc, according to four people familiar
with the matter.
* Japanese Prime Minister Shinzo Abe is readying a $182
billion economic package this week in his latest bid to pull the
economy out of deflation, but the new measures will not require
the government to sell more debt.
* German beauty-to-books retailer Douglas is preparing to
divest its Hussel confectionary stores, German newspaper
Frankfurter Allgemeine Zeitung reported on Tuesday.
* The European Central Bank (ECB) still has room for further
interest rates changes to stimulate Europe's sluggish economic
growth, International Monetary Fund representative Jose Vinals
was quoted as saying in an interview published on Tuesday.
* Japan's securities watchdog will recommend that a
Tokyo-based unit of Deutsche Bank DBKGn.DE be sanctioned for
excessive entertainment of pension fund executives, sources with
knowledge of the matter said on Wednesday.
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