Federal regulators filed civil fraud charges against Sentinel Management Group, accused of fraud and misappropriation of clients’ assets, including using customers’ securities to obtain a loan of up to a half-billion dollars. The...

NASDAQ decided to sell its stake in London Stock Exchange after failing to buy it. US stock exchange has around 31% shares in the London Stock Exchange, which are worth £797m ($1.58bn). Earlier, NASDAQ sought to buy it and proposed a bid. To...

The Nikkei stock exchange showed signs of recovery after hurt by the US subprime mortgage. It rose 458.80 points, or 3%, to 15,732.48, which is the biggest one-day percentage gain in 13 months. Market responded well as dollar got strength and traded...

HSBC Holdings Plc is eager to enter in South Korean banking business and needs a bigger network to compete with its archrivals Citigroup and Standard Chartered. After DBS’s reluctance to purchase shares in the Korea Exchange Bank from the Lone...

The ongoing credit crunch, generated by the US subprime mishmash can trigger upheaval for the Royal Bank of Scotland-led consortium to finance the $95.51bn offer to ABN Amro. Due to lack of liquidity in the market, hedge funds are believed to have...

Low cost airline Ryanair has acquired majority stakes in Aer Lingus after buying 16 million shares from an unnamed seller. The aggressive cut-price carrier has spent $49.52m or $3.15 per share for additional 16 million shares, which increases its...

Sentinel Management Group Inc., a cash-management firm, who froze client withdrawals on Tuesday, filed for bankruptcy after a federal judge blocked it from selling assets to Citadel Investment Group. Illinois-based firm, which managed about $1.6...

The US subprime mortgage monster has already eaten up many markets. All major central banks have come up to protect their economies. Western economies seem to have somewhat left the darker period behind, but budding Asian economies seem tied in the...

The US subprime mortgage monster has already eaten up many markets. All major central banks have come up to protect the economies. Western economies seem that have somewhat left the darker period behind, but budding Asian economies seem tied in the...

Hewlett-Packard’s third-quarter profit beats Wall Street’s estimates, as the technology bellwether continued to cash in on brisk sales of personal computers. HP’s net income for the third quarter was $1.78 billion or 66c per share,...