European equities closed lower on Tuesday as investors reacted to a slew of earnings news and economic data.» Read More
A group led by Irish financier Derek Quinlan has bought the 42-storey tower in London's Canary Wharf financial district owned by Royal Bank of Scotland and used by Citigroup as its European headquarters, Quinlan said on Monday.
British bank Barclays's hopes of taking over Dutch rival ABN Amro won a boost on Tuesday when a court adviser said ABN could sell its U.S. arm without a shareholder vote.
ABN Amro does not need shareholder approval to sell its U.S. arm, a top Dutch government lawyer said Tuesday in an advisory opinion that increases the chances that the bank will ultimately be bought by Barclays.
Paris The Thought: It all starts anew this week. With Ms. Hilton leaving jail, email me with suggestions on how she might effectively rebrand herself. Seeking big money from networks has backfired--especially since she doesn't actually need money. Perhaps she should have said the dough would be donated to programs that help inmates. Yes, it's easy to crack wise (and feel free to!), but, seriously, what should she do now? There's a CNBC coffee mug in it for the most thoughtful reply.
British bank Barclays on Friday said it had some exposure to funds that have lost money from investing in sub-prime mortgage assets in the United States, but that any loss in relation to the exposure would not be material.
Barclays Bank has about $300 million of the riskiest assets within two troubled hedge funds at Bear Stearns that have other banks either freezing assets in the funds or unwinding their positions in order to cut potential losses, CNBC's Charlie Gasparino reported.
Dutch banking and insurance company ING Group is buying Turkey's Oyak Bank for $2.67 billion, joining a rush of overseas financial groups buying into the fast-growing Turkish market.
Barclays Bank and Housing Development Finance Corporation said Monday they agreed to sell their stakes in Intelenet Global Services of India in a management buyout.
Bank of America has shelved plans to take ABN Amro to court, preferring to wait until the Dutch Supreme Court rules on the Dutch bank's sale of its U.S. unit, a Bank of America spokesman said on Friday.
Three months of takeover turmoil surrounding ABN Amro are taking a toll on the Dutch bank as employees become increasingly frustrated and rivals try to lure away talent.
Barclays has not ruled out adding cash to the terms its ABN Amro offer should it need to boost its bid to fight off a rival offer from a consortium of banks led by Royal Bank of Scotland, a source familiar with the matter said on Wednesday.
The Bush administration rejected a Securities and Exchange Commission recommendation in a key Supreme Court case and did not support shareholders suing Wall Street banks for damages over Enron's collapse.
Fortis Chief Executive Jean-Paul Votron said the company would not get into a bid war for Dutch bank ABN Amro, which it wants to buy in a consortium led by Royal Bank of Scotland.
U.S. hedge fund Atticus Capital is urging Barclays to drop its 65 billion-euro ($87 billion) bid for Dutch bank ABN Amro after buying a significant stake in the British bank.
Barclays President Bob Diamond is "quietly confident" the bank's $84.6 billion offer for ABN Amro will succeed over a rival offer from a consortium led by the Royal Bank of Scotland, and said that he expects the Dutch bank's disputed sale of LaSalle to go ahead.
Bank of America has accused a Dutch court of unlawful action by blocking its $21 billion purchase of ABN Amro's U.S. unit LaSalle Bank in an appeal filing, the Financial Times reported on Friday.
Royal Bank of Scotland said on Tuesday it was not in talks with Bank of America regarding an attempt to resolve the purchase of LaSalle Bank, the U.S. arm of ABN Amro that is the subject of a dispute.
Royal Bank of Scotland says the offer for ABN Amro from rival bidder Barclays would put 9,000 more Britons out of work that its own proposal to buy the Dutch bank, The Times reported.
The Securities and Exchange Commission has decided to support shareholders suing Wall Street banks for damages over Enron's collapse in a significant case before the Supreme Court, according to a newspaper report Saturday.
In court documents filed in New York, the SEC alleged that Barclays and Steven Landzberg, the former head proprietary trader for Barclays' U.S. distressed debt desk, illegally traded millions of dollars of bond securities between March 2002 and September 2003.