![](/web/20131017153002im_/http://www.afr.com/rw/Capital/Web/Library/Editorial/Logos/capital.png)
![Short shrift for minorities in Delaware](/web/20131017153002im_/http://www.afr.com/rw/2009-2014/AFR/2013/10/17/Photos/74a97cd6-3718-11e3-8ad0-794f9667c9f0_2013-10-10T145359Z_11326577--646x363.jpg)
Short shrift for minorities in Delaware
The legislature of the United States state of Delaware this year made it easier to squeeze out minorities after a takeover. In Australia, we call this compulsory acquisition.
![Buffett offers an unusual defence of JPMorgan’s Dimon](/web/20131017153002im_/http://www.afr.com/rf/image/2009-2014/AFR/2013/10/16/Photos/0381df8a-36af-11e3-b605-4eb51fe959e2_syd-4y1eflsnwpkg5xyq828[1]--236x160.jpg)
Buffett offers an unusual defence of JPMorgan’s Dimon
Warren Buffett offered an unusual defence of Jamie Dimon, comparing the billions of dollars that JPMorgan Chase has paid in fines to state troopers handing out a speeding ticket.
America Movil drops €7.2bn KPN bid
America Movil, Mexico’s giant telco group, has abandoned further European expansion plans for now as a shareholder group for Dutch telco KPN raises the stakes against the bidder.
![Higher bank hedging costs to hit borrowers, business](/web/20131017153002im_/http://www.afr.com/rf/image/2009-2014/AFR/2013/10/17/Photos/ce6fc72a-3718-11e3-8ad0-794f9667c9f0_syd-4y5vl8kbevks9szi93e--180x120_1_0_669810270_4_0_1778036020--U603560128303SUG-288x171_6_0_3569686312--U6167558134110C-153x143_6_1_683301304--236x160.jpg)
Higher bank hedging costs to hit borrowers, business
Rising global capital charges associated with over the counter derivatives will be felt by borrowers and businesses, leading bankers have told a Sydney conference.
![Bank of America profit surges, exceeding expectations](/web/20131017153002im_/http://www.afr.com/rf/image/2009-2014/AFR/2013/10/17/Photos/0a2e83ba-36c3-11e3-b605-4eb51fe959e2_BankofAmerica--236x160.jpg)
Bank of America profit surges, exceeding expectations
Bank of America reported a sharp rise in third-quarter earnings, but its mortgage operations faltered, underscoring that home loans remain a challenging business for the nation’s banks.
![Britain starts formal probe of currency manipulation](/web/20131017153002im_/http://www.afr.com/rf/image/2009-2014/AFR/2013/10/17/Photos/0dc66084-36d1-11e3-b605-4eb51fe959e2_UKflags--236x160.jpg)
Britain starts formal probe of currency manipulation
The UK Financial Conduct Authority has started a formal investigation into whether a number of companies manipulated the forex market.
US shutdown
The deadline for the US to avoid default is looming large but there are few signs of a resolution to the bitter budgetary dispute. For the very latest from Washington DC, we’re joined by the Financial Review’s US Correspondent John Kehoe.
M&A
Pos | Name | Value ($m) | No | % share |
1 | Goldman Sachs | 21,940 | 25 | 28.2 |
2 | Macquarie Group | 21,179 | 23 | 27.2 |
3 | Lazard | 13,901 | 9 | 17.9 |
ECM
Pos | Name | Value ($m) | No | % share |
1 | UBS | 4,712 | 25 | 35.3 |
2 | Macquarie Group | 2,069 | 23 | 15.5 |
3 | Goldman Sachs | 789 | 9 | 5.9 |
DCM
Pos | Name | Value ($m) | No | % share |
1 | Westpac | 19,506 | 69 | 16.6 |
2 | ANZ | 17,504 | 99 | 14.9 |
3 | Commonwealth Bank of Australia | 14,265 | 53 | 12.1 |
Syndicated Loans
Pos | Name | Value ($m) | No | % share |
1 | ANZ | 9,316 | 89 | 13.2 |
2 | Westpac | 8,180 | 67 | 11.6 |
3 | National Australia Bank | 7,906 | 69 | 11.2 |
![](/web/20131017153002im_/http://www.afr.com/rw/Capital/Web/Library/Editorial/Logos/mergers_acquisitions.png)
![](/web/20131017153002im_/http://www.afr.com/rw/Capital/Web/Library/Editorial/Logos/invest_banking.png)
![](/web/20131017153002im_/http://www.afr.com/rw/Capital/Web/Library/Editorial/Logos/equity_debt_markets.png)
![](/web/20131017153002im_/http://www.afr.com/rw/Capital/Web/Library/Editorial/Logos/inside_the_deal.png)