ICICI OneSource, the Indian offshoring company, has acquired a 51% stake in Pipal Research, an Illinois based research company that intermediates between US companies wanting to offshore and Indian suppliers. Pipal Research specializes in providing business research, analytics and information
Citigroup is being sued by investors who allege they were defrauded when they bought securities tied to the credit worthiness of the bankrupt, Houston based energy trading company, Enron. The suit, brought by Bank of New York on Monday in
Citigroup has bought First American Bank, one of the largest independents in Texas. Terms of the transaction are not being disclosed. The deal gives Citigroup over 100 branches in Texas, $3.5 billion in assets, and approximately 120,000 new customers in
American International Group (AIG) has entered the bidding for South Korean insurance company SK Life Insurance. The insurer has already attracted bids from HSBC Holdings and MetLife. According to a report in The Korea Economic Daily, AIG has now expressed
General Electric (GE) is planning plans a major expansion of its retail banking business in emerging European and Asian markets, with a view to competing with Citigroup, not only in credit cards and European consumer lending, but such as checking
State Street Global Alliance LLC, the partnership jointly owned by State Street Global Advisors (SSgA) and the Dutch pension fund ABP, has acquired a minority interest in GovernanceMetrics International (GMI). GMI is a corporate governance research and ratings firm that
The monthly Investor Confidence Index published by State Street has picked up the most significant rise in confidence so far this year. The State Street Investor Confidence Index for August 2004 increased by 2.4 points from July's revised reading of
The London Stock Exchange, in association with RSM Robson Rhodes, has published a guide to corporate governance for UK listed companies. "Corporate Governance A Practical Guide", is available free of charge to UK companies and other interested parties. It is
Liberty Mutual Group (LMG) has bought the insurance operations of AGF Allianz Chile S.A. The buyer will rename the company Liberty Seguros, and offer a full range of property and casualty products for commercial and personal customers. The companies have
The Financial Services Authority (FSA), the UK regulator, is relaxing its insistence that life assurance companies publish target ranges for bonus payments from with profits policies. Payouts from the with profits policies have plummeted in recent year, amid weak markets