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BCE buyers finalize funding (Reuters)

A sign is seen outside the offices of BCE Inc., Canada's largest telecoms group, in Montreal, May 21, 2008. (Shaun Best/Reuters)Reuters - Announcing what it said were "essential milestones" allowing the world's largest leveraged buyout to go ahead, BCE Inc said on Friday that its buyers had finalized funding and were sticking to their C$34.8-billion ($34.1 billion) purchase price.


Merrill nears deal to sell Bloomberg stake: report (Reuters)

A Merrill Lynch sign is seen in Toronto, April 29, 2008. (Mark Blinch/Reuters)Reuters - Merrill Lynch & Co may sell its 20 percent stake in financial news and data provider Bloomberg LP to a blind trust controlled by New York City Mayor Michael Bloomberg, The New York Post reported on Friday.


French bank body fines SocGen $6 million over Kerviel (Reuters)

Former Societe Generale junior trader Jerome Kerviel poses in a hotel in the Paris suburb of Neuilly during an exclusive photo session May 27, 2008. (Philippe Wojazer/Reuters)Reuters - France's Banking Commission on Friday fined Societe Generale 4 million euros ($6.3 million) for serious breaches in internal controls revealed by the French bank's 4.9 billion euro rogue trading loss.


Tax credit to save UBS from hefty loss (Reuters)

The logo of Swiss bank UBS AG is pictured at one of its buildings in Lucerne April 4, 2008. (Michael Buholzer/Reuters)Reuters - Battered Swiss bank UBS said on Friday it should be saved from another hefty loss in the second quarter by a large tax credit, giving a much-needed though short-lived boost to its share price.


EU opens in-depth investigation of Rio-BHP deal (Reuters)
Reuters - The European Commission opened an in-depth investigation on Friday into BHP Billiton's $170 billion unsolicited bid for rival miner Rio Tinto , with prices of iron ore already soaring.
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