Investment Services - Diversified
Malacca Trust Ltd Announces Striking Off Of Subsidiary
Malacca Trust Ltd announced that the Company’s wholly-owned subsidiary, Batavia Pacific International Pte. Ltd (Batavia Pacific) has on January 17, 2013 applied to the Accounting And Corporate Regulatory Authority to strike-off its name from the Register of Companies pursuant to Section 344 of the Companies Act, Cap.50 of Singapore. Batavia Pacific has been dormant since its date of incorporation, October 29, 2012.
SBI Holdings Inc Announces Changes in Subsidiary
SBI Holdings Inc announced that its subsidiary SBI Biotech Co., Ltd., which engages in the research and development of medicals, has fully acquired the Company's United States-based subsidiary Quark Pharmaceuticals, Inc., which engages in the research and development of siRNA medicals. Now Quark Pharmaceuticals is a subsidiary of SBI Biotech.
Wilson HTM Investment Group Ltd Signs Heads Of Agreement With Investorfirst Ltd
Wilson HTM Investment Group Ltd announced that the Company and Investorfirst Ltd have entered into a non-binding Head of Agreement where Investorfirst's Stockbroking and Investment Advisory activities, including a number of advisers and analysts employed and engaged by Investorfirst in Sydney and Melbourne, will transfer to Wilson HTM. In addition, Wilson HTM and Investorfirst will develop a client portfolio management and reporting tool using Investorfirst's HUB24 platform to assist in the management of Wilson HTM's private client portfolios.
eQ Oyj Announces Completion of Co-Determination Negotiations; To Lay Off Approximately 19 People
eQ Oyj announced that the co-determination negotiations of eQ Asset Management Ltd, eQ Fund Management Company Ltd, ICECAPITAL Asset Management Ltd and ICECAPITAL Fund Management Company Ltd, commenced on November 22, 2012, have been completed. The co-determination negotiations aimed to remove overlapping functions generated as a result of the acquisition of ICECAPITAL Asset Management Ltd and its subsidiaries which was released on November 20, 2012, and to improve competitiveness by adapting costs. As a result of the acquisition, the Company plans to execute business transfers in early 2013, where the business of ICECAPITAL Asset Management Ltd is transferred to eQ Asset Management Ltd and the business of ICECAPITAL Fund Management Company Ltd is transferred to eQ Fund Management Company Ltd. The business transfers are estimated to be executed on January 1, 2013. The negotiations concerned the plan to integrate and reorganize operations as a result of the business transfers and the possible outcome of these actions, including possible personnel reduction measures. As conclusion of the negotiations, it was clarified that the integration plans may lead to personnel reduction of 19 people at most. The original estimate was reduction of 20 people. The co-determination negotiations concerned the whole personnel of eQ Asset Management Ltd, eQ Fund Management Company Ltd, ICECAPITAL Asset Management Ltd and ICECAPITAL Fund Management Company Ltd.
eQ Oyj Announces Reorganization, Co-Determination Negotiations and Potential Layoffs in Connection with Acquisition of ICECAPITAL Asset Management Ltd and Subsidiaries
eQ Oyj (eQ) announced that as a result of the acquisition of ICECAPITAL Asset Management Ltd and its subsidiaries, eQ plans to execute business transfers in early 2013, where the business of ICECAPITAL Asset Management Ltd is transferred to eQ Asset Management Ltd and the business of ICECAPITAL Fund Management Company Ltd is transferred to eQ Fund Management Company Ltd. The business transfers are estimated to be executed on January 1, 2013. The acquired business is planned to be integrated into the eQ Group as soon as possible. For this reason eQ Asset Management Ltd, eQ Fund Management Company Ltd, ICECAPITAL Asset Management Ltd and ICECAPITAL Fund Management Company Ltd commence co-determination negotiations concerning the whole personnel of these companies. The negotiations concern the plan to integrate and reorganize operations as a result of the business transfers and the possible outcome of these actions, including possible personnel reduction measures. The co-determination negotiations are aimed to remove overlapping functions generated as a result of the acquisition and to improve competitiveness by adapting costs. The Company’s current estimate is personnel reduction of 20 person-years, at most and also possibly changes in job descriptions and other terms of employment. The co-determination negotiations concern the whole personnel of eQ Asset Management Ltd, eQ Fund Management Company Ltd, ICECAPITAL Asset Management Ltd and ICECAPITAL Fund Management Company Ltd.
Credit Suisse Group AG Dismantles Asset Management-Reuters
Reuters reported that Credit Suisse Group AG said it will dismantle its asset management unit into its private bank and promote fixed-income executive Gael de Boissard to co-run its investment bank. De Boissard will join the Zurich-based bank's top management and jointly head the investment bank with current head Eric Varvel, who will run equities and the investment banking department, which includes corporate finance.
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Sector Summary
| Energy |  -0.01% |
| Basic Materials | -0.83% |
| Industrials | -0.58% |
| Cyclical Goods & Services |  +0.03% |
| Non-Cyclical Goods & Services | -0.24% |
| Financials | -0.24% |
| Healthcare | -0.43% |
| Technology | +0.05% |
| Telecoms | +0.08% |
| Utilities | -0.64% |
| DOW | 14,932.41 | -42.55 |
-0.28% |
| S&P 500 | 1,614.08 | -0.88 |
-0.05% |
| NASDAQ | 3,433.40 | -1.09 |
-0.03% |
| TR US Index | 146.52 | -0.13 |
-0.09% |
Analyst Research
| Report Title | Price |
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Provider: ICICI Direct
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$25.00
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Provider: SADIF-Investment Analytics, S.A.
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$25.00
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Provider: SADIF-Investment Analytics, S.A.
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$25.00
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Provider: Wright Reports
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$35.00
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Provider: Wright Reports
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$35.00
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