General

ING reveals sale of car lease unit to BMW.

Dutch firm ING Groep N.V. (NYSE:ING) announced on Friday that it is selling its car lease financing unit to BMW – Bayerische Motoren Werke AG (ETR:BMW) for 700 million euros ($1 billion) in cash, it will use the proceeds to help pay back its 10 billion euro bailout from the Dutch state issued during the 2008 financial crisis. ING is in the process of restructuring its debts, it has already sold several assets to repay the state.

What is surprising is that the car leasing unit wasn’t (...) click here to Read On.

News Corp. shutters Paper, BSkyB deal in limbo.

News Corporation (NASDAQ:NWS) the worlds second largest media conglomerate has shuttered its embattled tabloid newspaper News of the World. News of the World which started in 1843 has been scheduled to close following the 10 July 2011 edition.

The who

The newspaper is published by News Group Newspapers of News International, a subsidiary of famed media baron Rupert Murdoch’s News Corp., and it is the Sunday sister paper of The Sun. In its lifetime the newspaper concentrated on celebrity-based news and populist news. The paper’s penchant for publishing news about celebrity sex scandals earned it the nickname “Screws of the World”. (...) click here to Read On.

JPM pays $228M to settle fraud charges, again.

JPMorgan Chase & Co. (NYSE:JPM) has reached a $228 million dollar agreement with federal and state regulators to settle civil fraud charges against one of its entities; accused of rigging dozens of bidding competitions to win business from cities and counties. J.P. Morgan Securities LLC engaged in at least 93 surreptitious deals with companies that handled the bidding processes in 31 states, according to the Justice Department and Securities and Exchange Commission. Those deals allowed the bank to sneak a peek at the offers competitors were making. This illegal advantage helped them (...) click here to Read On.