SYDNEY, May 27 (Reuters) – The global fund management business has grown so vast that it poses risks to financial stability and might need to be regulated more tightly, just as banks are, a top Australian central banker said on Wednesday.
May 26 (Reuters) – General Electric Co is in advanced talks to sell assets of its vehicle fleet management business, GE Capital Fleet Services, to Element Financial Corp, Bloomberg reported, citing people familiar with the matter. (http://bloom.bg/1dvt7GW)
SAO PAULO, May 26 (Reuters) – A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday, the second company executive convicted in an ongoing corruption probe.
By Shinichi SaoshiroTOKYO (Reuters) – Asian stocks sagged and the dollar stood tall on Wednesday on growing prospects the Federal Reserve was on track to raise interest rates later this year and concerns that financial woes could engulf Spain in addition to Greece.Taking a lead from Wall Street’s slide, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0…
HONG KONG, May 27 (Reuters) – In the first case of a Chinese bank investing in a Taiwanese peer, China Citic Bank Corp said it will own 3.8 percent of CTBC Financial Holding Company Ltd after buying shares worth 2.35 billion yuan ($379.28 million) in a private placement.
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