ZURICH Activist investor RBR Capital Advisors wants to expand its stake in Credit Suisse to 1 billion Swiss francs (769.83 million pounds), as the hedge fund pushes to spin off the Swiss lender's investment bank and asset management business.
LONDON Lloyds Banking Group saw a "unique opportunity" in buying struggling rival HBOS during the credit crisis and an investor lawsuit is "fundamentally flawed", a lawyer for the bank told London's High Court on Thursday. Helen Davies defended Lloyds' actions during the takeover on the second day of a 14-week London trial in which about 6,000 investors are claiming more than 550 million pounds in damages.
LAGOS Nigerian lenders have picked Barclays to try to find new investors for debt-laden 9mobile, two banking sources said on Thursday.
ATHENS Three of Greece's largest lenders plan to sell up to 5.5 billion euros (£4.9 billion) in bad loans by early next year, sources said, as the country's central bank chief called on the creaking banking sector to act faster to tackle its bad-debt problem.
LONDON Goldman Sachs chief executive Lloyd Blankfein is planning to spend a lot more time in Frankfurt, he said on Thursday, as the Wall Street bank pushes ahead with plans to make the German city a major base after Britain leaves the European Union.
ZURICH Activist investor RBR Capital Advisors wants Credit Suisse to float its asset management business and investment bank, valuing them at more than 20 billion Swiss francs (£15.5 billion) when split from the rest of the bank, according to a presentation reviewed by Reuters.
ISTANBUL Turkish car wheel manufacturer CMS Group is looking to sell a stake in itself, possibly a majority stake, and has mandated HSBC to advise on a potential transaction, two people familiar with the matter said.
BEIJING/HONG KONG China's Sinochem Group has tapped three banks, including Morgan Stanley , to work on the possible Hong Kong listing of its key oil assets, as it seeks to raise capital and revive the company, said four people with knowledge of the matter.
Australia's Westpac Banking Corp said on Thursday it will pay refunds to about 200,000 customers who should have received cash benefits, as the country's lenders seek to ease concerns about their governance after a series of scandals.
NEW YORK Closing arguments in the U.S. trial of former HSBC Holdings Plc executive Mark Johnson came to an end Wednesday, with a lawyer for the government urging jurors to convict Johnson of defrauding a client.