COMPANIES

Scotiabank buys into Guangzhou Bank for C$719 million

Scotiabank buys into Guangzhou Bank for C$719 million

Bank of Nova Scotia (BNS.TO) said on Friday it will buy a near 20 percent stake in Bank of Guangzhou for about C$719 million ($722 million) to expand its footprint in China, becoming the latest foreign bank to invest in a Chinese bank before the bank does an IPO.

U.S.Court Approves $263.4M Settlement of Hecla Mining Case

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A U.S. court has approved a proposed $263.4 million settlement by Hecla Mining Co. to resolve a 20-year-old dispute involving the silver mining company's liabilities for an environmental contamination in Idaho's Coeur d'Alene Basin.

iPhone 5 Will Reign Supreme: Eight Reasons Why

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While the Samsung Galaxy S2 is grabbing success in other parts of the world and is about to hit the U.S. market, Motorola Droid Bionic has hit the ground and Apple’s iPhone 5 is crawling through slews of rumors to reach the release date.
A Bank of America sign is pictured outside a bank branch in Charlotte

BofA Reported Considering 40,000 Job Cuts

Bank of America executives have discussed slashing roughly 40,000 jobs during the first wave of a restructuring, the Wall Street Journal reports, citing people familiar with the plans.
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Twitter now has 100 million active users

Only about half of Twitter's 200 million-plus registered members log on daily but the microblogging website is chalking up growth of 40 percent every quarter in mobile device usage, Chief Executive Dick Costolo said on Thursday.
Immelt makes a speech during a "Jobs for America Summit" at the U.S. Chamber of Commerce in Washington

Jeff Immelt and the GE Way: 10 Years on the Job, Trying to Win Back Investors

In writing the only book so far on GE leader Jeff Immelt -- Jeff Immelt and the New GE Way -- it was evident the leader was marked from the start by two distinct things. One was quite obvious, that Immelt followed Jack Welch, a man hailed at the end of the 20th century as one of the greatest business leaders of that century.
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California Street Has Costliest Office Rentals: Report

Forget Park Avenue or Fifth Avenue. Sand Hill Road in Menlo Park, California, is the most expensive street in North America for office renters, according to a report released by real estate services firm Jones Lang LaSalle Inc on Wednesday.
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US Offers Loan Aid to Put Solar on Military Bases

The U.S. Department of Energy said it has offered $344 million in loan aid for a solar power program at military bases that could double the number of the country's residential rooftop solar arrays.
AT&T T-Mobile Deal

AT&T, T-Mobile Merger to go to Court on Sept. 21

In an order signed on Monday, Judge Ellen S. Huvelle of the United States District Court in Washington, has asked the Justice Department, AT&T and Deutsche Telekom, the parent company of T-Mobile USA, to file the joint plan by the due date and has ordered that the parties shall be prepared to discuss the prospects for settlement at a Sept. 21 status conference, according to reports.
The Standard and Poor's building is seen in New York

S&P Met with Bond Investors before U.S. Downgrade: Report

Ratings agency Standard & Poor's officials privately met with large bond investors weeks before the firm's U.S. debt downgrade, leaving some believing the chance of a rating downgrade was higher than they had previously thought, the Wall Street Journal said.
Groupon founder and CEO Mason

Groupon's Daily Deal: Not as Great Today as It Was Yesterday

News that daily social network coupon company Groupon has reportedly canceled a roadshow scheduled for next week in advance of a planned IPO and is reevaluating plans to take the company's stock public is not that big of a surprise. After all, CEO Andrew Mason has been hailed for being a young genius but sooner or later one had to figure inexperience might catch up with him and the company.
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The Changing U.S. Refining Patch

A brush fire ignited by a fatal small-plane crash in Southern California has destroyed 12 homes and forced the evacuation of hundreds of others, leaving over 13,000 acres charred on Tuesday as it flared out of control for a third day.

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