U.S. Treasury Secretary Timothy F. Geithner and Federal Reserve Chairman Ben S. Bernanke cautioned members of a U.S. House of Representatives committee Wednesday that taking drastic austerity measures to alleviate government debt too quickly would go against the lessons learned from Europe's financial crisis.
Apollo Global Management LLC said Wednesday it has agreed to buy Bank of America Corp.'s Irish credit card business, seven months after buying the bank's credit card operations in Spain.
Hartford Financial Services Group Inc. on Wednesday announced plans to quit its individual annuity business and potentially sell its individual life, retirement and broker-dealer businesses amid calls from its largest shareholder, hedge fund founder John Paulson, for a structural shake-up.
Morgan Stanley's $2 billion Asia-focused private equity fund has acquired a minority stake in Chinese chemical manufacturer Tianhe Chemicals Group for $300 million, the companies said in a joint statement Wednesday.
A Wall Street lobbying group on Wednesday urged U.S. congressional lawmakers and federal regulators to delay the implementation of the Volcker Rule limiting proprietary trading by banks, saying banks could halt their loan securitization activities due to uncertainty over their regulation under the rule.
Corporate law specialist Sven Schulte-Hillen has joined Dechert LLP as a partner, the international law firm announced Monday, boosting the ranks of the company's newly formed Frankfurt office and giving it veteran talent in the worlds of private equity and finance.
Pharmaceutical giants GlaxoSmithKline PLC and Johnson & Johnson have put their weight behind a new €150 million ($198.5 million) venture capital fund promoting life science startups, in a rare step that will give them an early peek at up-and-coming new drugs, Index Ventures announced Wednesday.
A Georgia bankruptcy judge on Tuesday approved CDC Corp.'s sale of its 87 percent stake in CDC Software Inc. to Vista Equity Partners affiliate Archipelago Holdings Inc. for nearly $250 million.
A California federal judge on Monday ordered Bing Crosby Productions LLC, Rysher Entertainment Inc. and private equity firm Qualia Capital LLC to go to arbitration with the Writer's Guild of America and two of its members to determine who owns movie rights to the 1960s sitcom "Hogan's Heroes."
A New York federal judge has tossed a suit alleging Ness Technologies Inc. breached an exclusivity contract with private equity firm Vector Capital Corp., ruling Friday that Ness properly negotiated a $307 million sale to a Citigroup Inc. unit after the end of Vector's exclusive negotiating window.
Private equity firm Fox Paine Capital International GP LP sued a former executive in Texas court Tuesday, saying he violated partnership agreements by surreptitiously transferring his interest in a firm fund to a former Fox Paine partner operating a competing business.
Riverkeeper Inc., the influential New York environmental group, came out in support Monday of a planned settlement that would allow a unit of Blackstone Group LP to build an estimated $2 billion, 330-mile underwater cable that would bring hydroelectric power from Quebec to New York City.
Texas oil and gas company CVR Energy Inc. hurled another public jab Monday at investor Carl Icahn in a bitter battle over his $2.6 billion takeover bid, calling his wooing of shareholders a distracting and detrimental campaign.
An affiliate of private equity firm Insight Equity Holdings LLC has inked a $192 million deal to acquire Flanders Corp., one of the largest manufacturers of air filters and air-handling and air-containment systems in North America, Flanders said Monday.
Perkins Coie LLP has bolstered its Chicago-based business practice with the addition of a K&L Gates partner specializing in debt finance and restructuring transactions for private equity funds, financial institutions and public and closely held companies, particularly in media and telecom, the firm announced Monday.
Williams Partners LP has agreed to buy private equity-backed Caiman Energy’s unit Caiman Eastern Midstream LLC for $2.5 billion as part of its ongoing bid to pursue liquids-rich natural gas in the Marcellus Shale, the partnership said Monday.
AboveNet Inc., an operator of fiber optics networks, has agreed to be taken private by Zayo Group LLC in a $2.2 billion deal that includes equity stakes by buyout firms GTCR LLC and Charlesbank Capital Partners LLC, the company said Monday.
Jones Day has dipped into Foley & Lardner LLP's private equity and venture capital group to find three partners to supplement its own corporate practice, the firm announced Monday.
The landlords of properties leased to women's clothing retailer United Retail Group Inc. objected Friday to a proposed deal with stalking horse bidder Versa Capital Management, demanding that the stores continue to comply with the obligations in their leases before a buyout is approved.
London-based alternative investments specialist Investcorp International Ltd. announced Monday it has picked up a British student assessment company from private equity firm Veronis Suhler Stevenson for an undisclosed amount.