October 26, 2009 Monday
Updated

LONDON - BARCLAYS Plc bought the bank arm of British insurer Standard Life Plc for 226 million pounds (S$513 million) on Monday, in a move to build up its UK mortgage and savings business.

Barclays said under the deal to buy Standard Life Bank it will get a mortgage book with 8.8 billion pounds of outstanding balances and a savings book of about 5.5 billion pounds.

 
US stocks tick higher

NEW YORK - US STOCKS ticked higher on Monday as investors braced for another wave of company earnings reports after the market faltered last week despite results that generally topped analyst forecasts.

Investors appeal IPO dismissal

NEW YORK - A GROUP of Blackstone Group LP investors has appealed the dismissal of their class-action lawsuit seeking to hold the private equity firm responsible for their losses on its stock.

The appeal to the US Court of Appeals for the Second Circuit came after Judge Harold Baer of Manhattan federal court last month said the plaintiffs had failed to state a claim on which they could recover.

Verizon 3Q profit falls 30%

NEW YORK - VERIZON Communications Inc, the second largest US phone company, on Monday said third-quarter revenue fell nearly 30 per cent as higher costs offset an increase in revenue that largely was driven by an acquisition in its wireless business.

   
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