Barclays is moving to restore its reputation by overhauling its culture. We explained the trouble with closed-end mutual funds that invest in start-ups and provided analysis of a deal that helped one of the nation's bigger regional banks catch up in capital.
A look back on our reporting of last week's highs and lows in finance.
Carlyle to Buy DuPont Unit for $4.9 Billion | The private equity firm agreed to buy the maker of automotive paints as its drumbeat of acquisitions continues, Evelyn M. Rusli reported. But âthe business, which has about 35 plants worldwide, is heavily exposed to the weak European economy.â DealBook '
Maker of Air-Conditioners in Japan Is Said to Buy Rival | Daikin Industries agreed to buy Goodman Global from Hellman & Friedman for about $3.7 billion, Michael J. de la Merced reported. The private equity firm began shopping Goodman around early last year. DealBook '
News Analysis: Deal Helps a Bank Catch Up in Capital | Pet er Eavis explains that Buffalo-based M&T Bankâs $3.7 billion acquisition of Hudson City, a struggling mortgage lender, shows a bank well below regional peers in important capital ratios. DealBook '
Best Buy Will Open Books for Founder | The two parties agreed that Richard Schulze âwould have to wait until January to make a second offer if the board rejected his first formal proposal,â Mr. de la Merced reported. DealBook '
Hertz and Dollar Thrifty Announce a Merger Deal | âBoth companies now believe that, with a concrete plan to sell Advantage, the [$2.3 billion] deal will be blessed by the Federal Trade Commission,â Mr. de la Merced reported. DealBook '
Barclays Picks One of Its Own as Chief | âThe selection signals a return to the British banking roots of Barclays, as it aims to bolster its credibility,â Ben Protess reported. DealBook '
By selecting Antony Jenkins, Barclays seemed to steal a line from the comedy series âMo nty Pythonâ: âAnd now for something completely different.â
In a Contrast, Yelp Shares Jump After a Lockup Period | It appears that the social media company's early investors decided to stick with their holdings, Ms. Rusli reported. The stock got an added boost from short-sellers. When the stock rose, they had to cover their positions. DealBook '
Tapping the Market for Start-Ups, a Fund Falters | Closed-end mutual funds are feeling the Facebook blues. âWhen the public offering of the social network flopped, [GSV Capital Corporation] fell hard, and it still has not recovered,â Randall Smith reported. DealBook '
Max Wolff, who tracks pre-I.P.O. stocks at GreenCrest Capital Management, said GSV sometimes bought âpopular names to please investors.â
âThis is such a sentiment-sensitive space, the stocks don't trade on fundamentals,â Mr. Wolff said, adding, âIf there's a loss of faith, they fall without a net.â
Far From Wall St. and Silicon Valley, a Focus on Family Ties | The billionaire hedge fund manager David Einhorn is backing a venture capital firm in Milwaukee run by his brother and their father, William Alden reported. DealBook '
âThis isn't Silicon Valley, where you're almost encouraged to fail a couple times, and your next opportunity is in walking distance,â said Daniel Einhorn.
Citigroup Settles Lawsuit Over Subprime Securities | The bank agreed to pay $590 million to settle a class-action lawsuit brought by shareholders contending that they had been misled about the bank's exposure on the eve of the financial crisis, Jessica Silver-Greenberg reported. DealBook '
S.E.C. Proposes Allowing Hedge Funds to Advertise | âCritics fear that loosening restrictions could also leave some investors open to fraud if unscrupulous money managers are allowed to appeal to the least sophisticated among them,â Azam Ahmed reported. DealBook '
Reprieve for New York Fed in House Inquiry of Libor | Congress has eased demands that the agency turn over thousands of documents, steering clear of e-mails from bankers and granting the regulator an additional month to comply, Mr. Protess reported. DealBook '
Deal Professor: Humanitarian Effort in Congo Puts Wall St. Regulator in Unintended Role | Stephen M. Davidoff says that the problems with the Securities and Exchange Commissionâs rules covering conflict minerals could be manifold. DealBook '
Not surprisingly, having your capital markets regulator engage in foreign policy may not be the best solution to ending a war.
Pepper Hamilton to Acquire Louis Freeh's Firms | The deal âhighlights the growing business of investigations into possible wrongdoing at companies and other institutions, an increasingly lucrative area for law firms,â Peter Lattman reported. DealBook '