6:47 p.m. | Updated The American International Group is shopping around its rail-car unit, a person briefed on the matter said on Sunday. The move would be part of the insurer’s plan to sell noncore businesses to pay down its $130 billion taxpayer-financed bailout. The unit, AIG Rail Services, is based in Chicago and has [...]
11:07 a.m. | Updated Federal agents arrested two former employees of Bernard L. Madoff on Thursday morning, a spokesman for the Federal Bureau of Investigation told DealBook. Annette Bongiorno was arrested at her home in Boca Raton, Fla., and Joann Crupi was arrested at her residence in Westfield, N.J., the spokesman said. Both women worked [...]
7:34 p.m. | Updated The Blackstone Group raised its offer for Dynegy on Tuesday afternoon, the eve of a scheduled vote on the proposed $4.7 billion buyout, which has encountered stiff opposition from two of the energy company’s biggest shareholders. But the two shareholders — Carl C. Icahn and Seneca Capital — said that they [...]
11:53 a.m. | Updated From Julia Werdigier, a DealBook colleague: HSBC, Europe’s biggest bank, said Friday that earnings rose in the third-quarter but warned that the economic recovery in emerging markets was losing some steam. The bank’s chief executive, Michael Geoghegan, said there were likely “some bumps in the road ahead” in emerging economies, especially [...]
By CHRIS V. NICHOLSON 10:29 a.m. | Updated PARIS — When LVMH Moet Hennessy Louis Vuitton announced in October that it had acquired — in one sudden swoop — 17.1 percent of the shares of Hermes International, it appeared to have made an end run around financial regulations. Normally, companies in France and elsewhere have [...]
12:33 p.m. | Updated While Wall Street may have cheered the regaining of the House of Representatives by Republicans in Tuesday’s midterm elections, some individual financiers fared less well in their races. Scott M. Sipprelle, a Republican venture capitalist, lost his bid to unseat Representative Rush Holt, a Democrat, from New Jersey’s 12th Congressional District. [...]
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