Bankers, merchants clamor for $1 coin

Article Abstract:

Some bankers and retailers are demanding that the government issue them the new $1 coin that was launched about a month ago in Jan 2000. They are also complaining about a deal made by the government with Wal-Mart in Dec 1999, designating Wal-Mart and Sam's Clubs outlets as the main channel for distributing the coin. The government responded by doubling the production of the new coin to 5,000,000 a day.

Strategy & planning, Retail Trade

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PaineWebber board to consider UBS offer

Article Abstract:

Swiss banking conglomerate UBS has offered to buy PaineWebber for $12 billion in cash and stock. PaineWebber is the US' fourth-largest stock brokerage firm and has been a consistent target for acquisition because of its large sales force and upscale client base. It employs 19,620 people and manages $452 billion worth of assets for 2.7 million clients. On the other hand, UBS was formed from the merger of Swiss Bank and Union Bank of Switzerland in 1998. It is offering $73 for every share of PaineWebber, which is significantly higher than its 52-week high of $52.63.

Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Switzerland, Securities Brokerage, Stockbrokers, UBS AG, PaineWebber Inc.

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Realtors tussle with bankers over turf

Article Abstract:

The Federal Reserve and the Treasury Dept have proposed a federal rule change that would allow banks to broker real estate, an activity exclusively handled by real estate firms. The bankers were the first to propose this change, reasoning that they are already experience in real estate deals through their mortage activity. Realtors, on the other hand, have expressed strong opposition against the proposed rule change.

Government regulation (cont)

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