The Asian life assurance business of AIG, is expected to set a price range for its initial public offering early next week and hopes to strike agreements with big 'cornerstone' investors who could take one-fifth of the shares sold a few days after that, the report said citing sources.
British daily The Financial Times has reported that AIG had lost $2 billion over the deals and the move is a sign that Securities and Exchange Commission action against Goldman Sachs could spark litigation from investors who lost money on mortgage-backed deals.
Crisis-hit conglomerate Dubai World is expected to approach lenders this week, with its proposal to restructure $22 billion-debts, says a media report.
British insurer Llyod's chairman Lord Levene considers India a "very difficult market" for foreign insurance companies.
India was for the first time the leading country in the world for FDI, overtaking the US.
Most economists say the impact on inflation could be substantial, considering that steel prices rose by over 9 per cent in the past year.
Software major Oracle has said Sun Microsystems is losing $100 million a month, while the European regulators are continuing their investigation into the software major's proposed $7.4 billion acquisition of the hardware firm, a media report says.
The company had made its first breakthrough in the US in April when it had acquired 40 per cent stake in Atlas Energy Inc's 3,00,000 acres shale gas property for $1.7 billion. Atlas' Marcellus shale gas project spans parts of West Virginia, Pennsylvania and New York.
Attributing to Morgan Stanley CEO James Gorman, the report by the Financial Times said that the company plans to boost its under-performing securities business by hiring several hundred traders over the next few years.
Goldman Sachs and American Express played a large role in boosting the US Treasury's coffers by agreeing to pay a favourable price for the warrants received in return for the aid, the Financial Times said citing a study by the consultancy SNL Financial.
A 2008-style bank run seems unlikely, but if it did happen, the sector is much better prepared.
Dubai World's bank creditors have offered their loans for sale ahead of the restructuring of the conglomerate's debts, in a bid to reduce exposure.
Entertainment conglomerate Time Warner will put in a bid of $1.5 billion for the debt-laden hollywood studio Metro-Goldwyn-Mayer, says a media report.
Internet major Google could reveal today the closure of its Chinese search engine, says a media report.
Congress chief Sonia Gandhi and Uttar Pradesh Chief Minister Mayawati are among the four Indians named in the Financial Times list of '50 People Who Shaped the Decade.'
The insurer had received nearly $80 billion last year from the US government to tide over the financial turmoil.
According to the report in the Financial Times, the bank tried immediately to repatriate the dealer, S Kapoor, to India against his wishes after it was confirmed that he had informed the UK Financial Services Authority about alleged irregularities.
The distinction between "cheap" and "affordable" is a fine one, but no one understands this better than India's aspirational first-time car-owner, says Kanika Datta.
US confectioner Hershey Co is preparing a bid for British chocolate maker Cadbury, that will counter US-based Kraft Foods' 10.4 billion pound hostile offer.
India and China are in talks to monitor the melting of glaciers in the Himalayas, a border region crucial to both countries' water supplies, Minister for Environment Jairam Ramesh has said. "We are talking to the Chinese about monitoring the Himalayan glaciers," Ramesh said. However, he cautioned that India would not allow Chinese scientists "to climb all over India's glaciers", but sought a collaborative research programme.
The $6,00,000 fine by Financial Industry Regulatory Authority, which oversees broker dealers, comes after the US authorities hardened their stance on offshore tax operations with a series of actions in the past few months.
In an interview to the Financial Times, AIG Chief Executive Officer Robert Benmosche said it would take at least two years for AIG to sell businesses and earn enough profits to repay the government and persuade it to sell its 80 per cent stake.
Microsoft has also approached other big online publishers to persuade them to remove their sites from Google's search engine
On the funding gap for infrastructure development, estimated to be $190 billion, Singh said the government was relying on a combination of public investment and public-private-partnership for financing the mega projects.
Tata group-owned Jaguar Land Rover (JLR) has secured a 170 million pounds (about $ 284 million) loan from GE Capital in a move to strengthen its financial position, media report says.
The Indian School of Business (ISB) is the only one in the country to find a place in the list of top 20 B-schools in the world, published by the Financial Times.
Nikkei is one of the largest media houses in Japan.
Citigroup will limit the cash bonuses for its bankers at below $1,00,000 in a move to defuse public uproar over compensation, says a media report.
The US Justice Department has initiated a probe into the hiring behaviour of some of the largest American technology companies, including Google, Apple and Yahoo, says a media report.
The Financial Times report citing Altavilla's court testimony stated that, "Fiat will name chief executive Sergio Marchionne, Alfredo Altavilla, its head of business development, and Lucio Noto, former vice-chairman of ExxonMobil, to the board of new Chrysler." Altavilla also said Marchionne should be named chief executive and "spend a substantial amount of time in Detroit."
Many fear that in practice if banks make their customers pay to hold their money, it might lead to a situation where consumers hold on to cash.
Jignesh Shah-promoted MCX Stock Exchange (MCX SX) will partner London-based index calculator FTSE to create new index opportunities for the Indian financial markets.
'The three tycoons I deal with in the first chapter -- Ambani, Mallya and Adani -- in their own way represent the change that has come over India.' 'Of the three of them, Mallya is the most fun. He was terrific.' 'And I don't say that because I tell the story in the book of his golden toilet.'
Citigroup is planning to sell its energy-trading unit Phibro, which came under flak for the huge pay package of $100 million handed over to its star trader Andrew Hall.
Goldman Sachs will receive $1 billion, while US taxpayers will lose $2.3 billion if embattled commercial lender CIT files for bankruptcy protection.
"Citigroup is close to a secret agreement with one of its main regulators that will increase scrutiny of the US bank and force it to fix financial, managerial and governance issues," The Financial Times has reported. Attributing to people close to the situation, the daily said the deal had been discussed in recent weeks amid increased pressure on Citi from the Federal Deposit Insurance Corporation and could be finalised soon.
Indra Nooyi, chairman and CEO, PepsiCo has topped the Financial Times list of top 50 women in world business.
President Asif Ali Zardari has said that Pakistan will not allow its territory to be used against India for any acts of terror and is ready to cooperate with it to punish the perpetrators of the Mumbai terror attacks. "Pakistan is ready to cooperate with India to punish the perpetrators of the terror attacks in Mumbai. Pakistan has assured that it would not allow its territory to be used against India for any acts of terror," Zardari told the Financial Times.
Soaring security expenses mean this month's parliamentary election will cost India over 50 per cent more than the last such poll in 2004.
Days after the United States Senate approved a $1.5 billion package for Pakistan, including $400 million in military assistance, Pakistan Interior Minister Rehman Malik told The Financial Times that his government has put Punjab and Sindh on high alert to avert the possibility that Taliban terrorists, fleeing the military offensive in the Swat valley and Waziristan, may seek refuge in these areas.
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