British billionaire buys hefty stake in Bear Stearns
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Funds controlled by British billionaire Joseph Lewis have amassed a seven percent stake in Wall Street investment bank and brokerage Bear Stearns, a US securities filing showed Monday.
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Spain's BBVA buys the Compass Bancshares of the USA for 9.6bn.
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Temasek Holdings, the biggest shareholder in Standard Chartered, increased its stake in the British bank to 18 percent, increasing the financial services investments in its $100 billion portfolio. Temasek bought 12 million shares of Standard Chartered, raising its holding by one percentage point, the bank said in a filing. Standard Chartered gets most of its profit from Asia and spent more than $2.7 billion since 2006 on acquisitions, including Hsinchu International Bank in Taiwan and Union Bank Ltd. in Pakistan. The shares purchased by Temasek, worth Â£220 million ($436 million), lift the total holding to 253.7 million shares.
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Hollinger International has extended an olive branch to former chief executive Lord Black by offering him a share in the proceeds of the Â£665m sale of the Daily and Sunday Telegraph.
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NEW YORK (CBS.MW) -- JPMorgan Fleming Asset &amp; Wealth Management, a unit of JP Morgan Chase, said Monday it&#39;s buying a majority stake in hedge fund manager Highbridge Capital Management.
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Bear Stearns shares rose 7.7 percent yesterday on speculation that investors including Warren E. Buffett may buy all or part of the company.
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Barclays, the third-biggest British bank, said it had made an undisclosed offer for the wealth business of ING Securities Bank (France), a unit of Dutch banking giant ING Group.
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The bid by the Royal Bank of Scotland Group and two other European banks topped an offer by Barclays.
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Royal Bank of Scotland Group PLC sweetened its $98.1 billion offer for ABN Amro Holding NV by increasing the cash portion, seeking to beat Barclays PLC to the world's biggest banking takeover.
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Morgan Stanley MWD.N and Bear  Stearns Cos. Inc. BSC.N, two of Wall Street's biggest  securities firms, on Tuesday said their fourth-quarter profits  rose as a flurry of mergers and a year-end stock rally boosted  investment banking fees.
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Billionaire US investor Warren Buffett has built up an 8.6% stake in Kraft Foods, making him its largest shareholder.
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HSBC Holdings PLC, Europe's biggest bank, agreed to buy a 51 percent stake in Korea Exchange Bank for $6.3 billion as it attempts to boost its presence in the fast-growing Asian market.
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Billionaire from the UK Lakshmi Mittal on Monday purchased International Steel Group from Wilbur Ross, thus creating the worldâs biggest steel company.
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Bear Stearns, which bailed out two hedge funds with $1.6bn, hires a new head of asset management.
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The pound finished higher across the board, benefiting from merger and acquisition flows after news of Vodafone's 1.8 billion pound sale of its 25 percent stake in Swisscom Mobile.
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Investment bank Goldman Sachs  has  made a bid approach of about 700 million pounds ($1.4 billion)  for reinsurance broker Benfield , the Daily Telegraph  said on Friday.
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Billionaire gives beleaguered European reinsurer and peers a vote of confidence with 3% investment.