Fed values Bear Stearns assets at $29bn (Headlines)
The Federal Reserve Bank of New York on Thursday confirmed the estimated fair value of assets that were formerly held by Bear Stearns at about $29bn, about $1bn less than they were worth when the investment bank was sold to JPMorgan in March.
Britain's Financial Services Authority (FSA), will force hedge funds and other investors who use derivatives to build large stakes in companies to follow the same disclosure rules as shareholders.
Marks and Spencerâ??s shares fell more than 20 per cent on Wednesday morning after a profits warning from Britiainâ??s biggest clothing chain prompted analysts to slash profit forecasts for the retailer.