Financial Services & Real Estate Headlines

As ETF M&A heats up, industry wonders who is next

NEW YORK - When it comes to expanding in the $1.9 trillion exchange-traded fund market, which some forecasts say will pass the traditional mutual fund industry in size within 10 years, some companies have concluded it's better to buy than to build.

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Wed, Oct 22 2014

UK's Lloyds was not pushed to sell branches to Co-op: lawmakers

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LONDON - Lloyds Banking Group's aborted attempt to sell hundreds of branches to the Co-operative Bank was not influenced by politicians, a committee of lawmakers said on Wednesday.

22 Oct 2014

BGC launches formal $675 million offer for rival broker GFI

- Interdealer broker BGC Partners Inc went ahead with the formal launch of its hostile $675 million bid for rival GFI Group Inc on Wednesday after talks between the two companies reached a deadlock.

22 Oct 2014

Private equity eyes $13 billion Bayer plastics business: sources

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FRANKFURT/LONDON - Private equity firms are circling Bayer's 10 billion-euro ($12.7 billion) plastics business, hoping to divert the German drugmaker from its plan to list the division, two people familiar with the matter said on Wednesday.

22 Oct 2014

Exclusive: Investors seek delay to HK-Shanghai stock tie-up

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HONG KONG - Some of the world's biggest banks and asset managers have asked the Hong Kong securities regulator to delay a landmark China stock trading link that could generate billions of dollars of trade a day due to uncertainty over the scheme rules, according to a letter seen by Reuters.

Deals, China 22 Oct 2014

Standard Life, ICBC to broaden cooperation in China, UK, Hong Kong

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LONDON - British insurer Standard Life and Industrial and Commercial Bank of China (ICBC) said on Wednesday they had agreed to look at developing savings and investment services together.

22 Oct 2014

ZKB in takeover talks with asset manager Swisscanto

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ZURICH - Switzerland's Zuercher Kantonalbank (ZKB) is holding talks over a possible takeover by asset manager Swisscanto Holding , the bank said on Wednesday.

22 Oct 2014

Malaysia's CIMB-led bank merger more difficult after EPF vote barred

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KUALA LUMPUR - A decision by Malaysia's bourse to bar a key shareholder in CIMB Group Holdings Bhd and two other lenders from voting on their planned merger has given minority investors more clout and thrown doubt on the deal's prospects.

22 Oct 2014

Tue, Oct 21 2014

Panama and Colombia to negotiate tax information-sharing deal

BOGOTA - Panama and Colombia will negotiate a financial information-sharing deal, ending a stand-off over Colombia's classification of the Central American country as a tax haven and removing it from that status, Colombia's president said on Tuesday.

21 Oct 2014

Portugal regulator extends shorting ban on battered PT shares

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LISBON - Portugal's CMVM securities market regulator has extended until Thursday a ban on short selling in shares of Portugal Telecom after they fell to a record low close on Tuesday.

21 Oct 2014
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Key retirements mean a changing of the guard next year in U.S. Congress

Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.