News

Citigroup Close To Closing Koram Bank Purchase in Korea

Citigroup is reported to be close to finalizing a deal to buy a controlling stake valued at $1bn in South Korea's Koram Bank from a US consortium led by the private equity fund Carlyle Group. Carlyle has been in talks

Cayman Islands Launches Post-Parmalat Damage Control Operation

The Cayman Island Financial Services Association (CIFSA) says that the Cayman Islands authorities are working closely with the Italian financial regulators investigating the alleged Parmalat fraud. Formed in December 2003 to promote the integrity and quality of the Cayman Islands

Merrill Lynch To Open Moscow Office

US investment bank Merrill Lynch has plans to open a small representative office this May in efforts to strengthen its involvement in increased corporate activity. The company, which has maintained involvement in large corporate deals in the past, is looking

Investment Banks Are Making Money Again

Barclays, Credit Suisse and Socit Gnrale have all reported major earning gains for last year, thanks in large part to increased investment banking profits. Rising demand for credit and low interests rates, as well as reduced debt, also played a

Reuters To Be Chaired By Niall FitzGerald Of Unilever

Niall FitzGerald is to retire from Unilever's board at the end of September to become non executive chairman at Reuters, after almost a decade at the helm of Anglo Dutch manufacturing giant Unilever. Fitzgerald has been with the producer of

Attracting Liquidity A Challenge For CBOT

The Chicago Board of Trade will find it difficult to attract liquidity to its new contracts in German government bond futures according to a survey of major international banks. Last week in retaliation against Eurex, CBOT announced its launch of

Reuters On The Road To Recovery?

Reuters, in recent years a near broken company, may be on the road to recovery. It shares gained 18 per cent to a 20 month high after reporting annual profits that well exceeded market expectations. The news and electronic information