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Modelo's advance pushes beer brewers toward endgame
Anheuser-Busch InBev NV said it was in talks with Modelo, the Mexican company of which it owns 50 percent. AB InBev could pay $20 billion for the outstanding stake.Shrinking valuations drive bank payroll cuts
Financial firms, shunned by investors to a degree seen only once in the last 20 years, are becoming a smaller part of the U.S. economy as they deal with a past that won't go away and a future of lower revenue and fewer jobs.Shares of financial companies have fallen for three straight months and now have their lowest ratio to the Standard Poor's 500 Index since 2009.
Banks discover money management again as trading profit declines
Global banks, forced by regulators to reduce their dependence on profits from high-risk trading, have rediscovered the appeal of the mundane business of managing money for clients.
MBIA Insurance Company v. Countrywide Home Loans, 602825/08
Publication Date: 2011-07-01 Practice Area: Business Law
Industry: Court: Appellate Division, First Department Judge: Before: Angela M. Mazzarelli,J.P., David B. Saxe, Dianne T. Renwick, Leland G. DeGrasse, Roslyn H. Richter, JJ. Attorneys: For plaintiff: Goodwin Procter LLP, New York (Mark Holland, Christopher J. Garvey, Abigail K. Hemani, Ashley H. Gray, Paul F. Ware, Jr., and Sarah Heaton Concannon of counsel), for appellants-respondents. For defendant: Quinn Emanuel Urquhart & Sullivan LLP, New York (Philippe Z. Selendy, Peter E. Calamari, Sanford I. Weisburst, Manisha M. Sheth and Eve S. Moskowitz of counsel), for respondent-appellant. Case number: 602825/08
Cite as: MBIA Insurance Company v. Countrywide Home Loans, 602825/08, NYLJ 1202499059313, at *1 (App. Div. 1st, Decided June 30, 2011)Before: Angela M. Mazzarel
Breaking up banks may be profitable but difficult
The stocks of five of the six biggest U.S. banks — JPMorgan, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley — are languishing at or below tangible book value, meaning their pieces are worth more than the whole.Financial Reform Bill Has Limited Impact
Lawyers believe the passage of the Gramm-Leach-Bliley Act, which tore down barriers separating the banking, securities and insurance industries, was worthwhile even though recent big bank deals could have been completed without it. Attorneys say the legislation made it far less complex to close megabank deals, and encouraged consolidation among financial institutions.Lehman fault-finding points to CEO as shares languish
"Everything is over" So wrote Emanuel Lehman, one of three brothers who founded the cotton-trading company that bore his name. The year was 1862. The cause of alarm: the Civil War, which had cut off communications between Montgomery, Ala., where Lehman Brothers was founded a dozen years earlier, and New York, where much of its business was transacted.
Morgan Stanley executive to leave after 22 years
Morgan Stanley's David Barrett, who oversaw a unit that raised money for hedge funds and private companies, is leaving after 22 years to look for a job outside banking, two people with knowledge of the matter said.TRENDING STORIES
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