In the second big takeover in the pharmaceuticals industry, Merck is to buy Schering-Plough. There's a shed load of cash involved: where will it come from?
The US Treasury has this morning announced huge support for Bank of America under the Troubled Assets Relief Programme or TARP, and other measures. And it will take a large slice of BofA stock in return. It's complicated but it protects the taxpayer.
HKMA has referred five Lehman-Brothers-related cases to the SFC for further action and urged Authorized Institutions to study its report on Issues Concerning the Distribution of Structured Products Connected to Lehman Group Companies
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