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Business 19 Sep 2008 | 12:00 AM

Rio may be broken up within 2 years: BlackRock

Rio Tinto Group, battling a hostile US$115bil takeover bid from BHP Billiton Ltd, will probably be broken up within two years by a group, including Chinese investors, BlackRock Inc said.

Business 18 Sep 2008 | 12:00 AM

Money-market fund's troubles spur industry moves

BOSTON (AP) - Managers of money-market funds scrambled Wednesday to reassure investors and disclose daily information on fund holdings after the oldest U.S. money fund saw the value of its assets plunge from a soured investment that exposed customers to losses.

Business 16 Sep 2008 | 12:00 AM

Merrill Lynch sold

Bank of America Corp said it agreed to buy Merrill Lynch Co Inc in an all-stock deal worth US$50bil, snagging the world's largest retail brokerage after one of the worst ever weekends on Wall Street.

Business 15 Sep 2008 | 12:00 AM

Bank of America buying Merrill Lynch for US$44b

Merrill Lynch Co is reported to have offer itself for sale to Bank of America Corp for about US$44bil or about US$29 per share.

Business 12 Sep 2008 | 12:00 AM

The price may not be right for Neuberger

Lehman Brothers Holdings Inc has made a tough call by deciding to auction a big piece of its investment management unit, seen as one of its crown jewels. Now, it could face an even harder task - getting a good price for it.

Business 11 Sep 2008 | 12:00 AM

Lehman sale shows commercial real estate woes

Lehman Brothers' do-or-die decision Wednesday to spin off up to $30 billion in commercial real estate loans and buildings highlights how jittery worldwide investors are about all things real estate.

Business 10 Sep 2008 | 12:00 AM

Battered Lehman to announce 'key' initiatives

NEW YORK (AP) - Lehman Brothers Holdings Inc. will roll out plans Wednesday to shore up the embattled investment bank's balance sheet and face down investor concern that it's running out of options to raise badly needed capital.

Business 18 Jul 2008 | 12:00 AM

Merrill Lynch to sell its 20% stake in Bloomberg

Merrill Lynch Co Inc has agreed to sell its 20% stake in Bloomberg LP back to the news and financial data company for about US$4.5bil, a source familiar with the situation said on Wednesday.

Business 22 May 2008 | 12:00 AM

UBS funds Blackrock’s asset buy, pares risk

UBS made a huge loan to Blackrock so that the US asset manager could buy US$15 billion of distressed assets from the Swiss bank, easing the strain on UBS' balance sheet, but not freeing it from the risk.

Business 07 May 2008 | 12:00 AM

UBS to cut 5,500 jobs

UBS AG will cut 5,500 jobs or almost 7% of its workforce as Europe's biggest subprime casualty reverses a rapid expansion into investment banking.