BofA appoints David Killingback as head of Asia Pacific BofA named David Killingback head of mergers advisory for the Asia Pacific region outside Japan, as the lender overhauls senior management at its investment bank in the area. Killingback will report to Jayanti Bajpai and Jiro Seguchi, co heads of investment…
Gaming key to Sony profit rebound: Kazuo Hirai Sony Corp’s videogaming business, led by its just launched handheld “Vita,” will prove pivotal in returning the company to profitability, Kazuo Hirai, the executive pegged to succeed Howard Stringer as president, said on Tuesday. (ET) Struggling Kodak film group split up, shares…
RBS to cut thousands of investment banking jobs RBS is likely to cut between 3,000 and 4,000 investment banking jobs as part of an overhaul of the business. The review of partnationalized RBS’s Global Banking and Markets division is likely to be released and RBS say it may sell some…
US govt, Exxon reach deal on disputed Gulf leases Exxon Mobil Corp and the US government struck a deal that would allow the company to move ahead with development of a field in the Gulf of Mexico estimated to yield tens of billions of dollars of oil. Exxon sued the…
Fiat ups Chrysler stake in move towards merger Fiat SpA has raised its stake in Chrysler Group LLC by 5% to 58.5%, meeting a final target set by the U.S. government as the two groups move closer to creating one of the world’s leading auto makers. Fiat has managed Chrysler…
Arabtec Construction wins $153 mn Dubai international airport expansion deal Dubai’s Arabtec Construction, a unit of Arabtec Holding, said it had won a 561 million dirham contract for the expansion of Dubai International Airport. The project, which includes structural works, mechanical, engineering and site works for Terminal 2′s expansion, will…
JPMorgan sued for $95 million over mortgage securities JPMorgan has been sued for $95 mn by the trustee for securities marketed in 2005 by the former Bear Stearns Cos over alleged misrepresentations regarding the underlying mortgage loans. US Bank NA wants to force JPMorgan to buy back the mortgage loans…
Deutsche Lufthansa AG to pass carbon scheme costs to passengers Deutsche Lufthansa AG will pass on to its customers an expected 130 million euros ($169 million) of costs for carbon permits it needs this year under a new European Union Emissions Trading Scheme (ETS). Germany’s biggest airline said it will…
Boeing beats Lockheed in $3.5-bn US defence deal Boeing beat out Lockheed Martin to retain its position as the prime contractor for the US long-range missile shield, the Pentagon said. The US Defence Department said it was awarding Boeing a $3.5-billion , seven-year contract to develop , test, engineer and…
Retailers Left Behind in Australia Mining Boom Australias mining boom, which has powered the nations economy to faster growth than the U.S., Europe and Japan, isnt filtering down to the countryfs $252 bn retail sector. One reason: a national savings rate near a quartercentury high. Shares in electronics retailer JB…
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