DEALBOOK HIGHLIGHTS
Senators Express Concern on Reverse Mortgage Rules Senator Charles Schumer and Senator Barbara Boxer urged the Department of Housing and Urban Development to clarify the rules around reverse mortgages, a type of loan that has increasingly saddled middle-age children with the mortgages of their parents.
Troubled-Mortgage Funds Are on the Rise, but Face Headwinds Distressed-mortgage funds are suddenly hot, but it is unclear whether the strategy of investing in delinquent home loans will live up to the marketing hype.
Utility Operator Exelon to Buy Pepco for $6.8 BillionBuying Pepco will add operations in New Jersey, Delaware, Maryland and Washington to Exelon's existing East Coast operations.
Carlyle Earnings Fall 18% Private equity may be a booming business, but the Carlyle Group was weighed down by declines in its global market strategies business and real assets segment.
Another View: What Bank of America's Accounting Mistake Can Teach the Market Do big banks have strong enough management of their risks and good internal controls to detect accounting problems? Mayra Rodríguez Valladares examines the problem in Another View.
Take My Buyout, Please … Thomas H. Lee, who was honored Tuesday night for his philanthropy at an event organized by the UJA-Federation of New York, knows how to work a room.
Energizer to Split in Two Energizer said that it plans to split into two publicly traded companies: one for household products like Energizer batteries, the other for personal care products like Schick razors.
Reuters Breakingviews: Energizer Split Leaves Biggest Problem Intact The main challenge is mustering enough resources to take on the consumer products behemoth Procter & Gamble, writes Kevin Allison.
Intrade Co-Founder Opens Fantasy Sports Site By styling the new company as a fantasy sports site and not a betting and prediction market, Tradesports.com hopes to avoid the kind of regulatory trouble that hastened Intrade's demise.
BNP Paribas Says $1.1 Billion May Not Cover U.S. Fines The French bank warned on Wednesday that it might have to pay penalties. The bank also reported that first-quarter profit increased 5 percent from the period a year earlier.
Volkswagen Extends Offer to Acquire Full Control of Scania Volkswagen, which already controls 62.6 percent of Scania's capital, is hoping to coax more of the Swedish truck maker's shareholders to sell.
Alstom Backs G.E.'s Offer Despite French Government's Concerns The struggling French conglomerate's board "has unanimously endorsed G.E.'s offer," but the directors will also consider a rival offer from the German industrial giant Siemens.