Deal Helps a Bank Catch Up in Capital  | One of the nation's bigger regional banks, M&T Bank, has had a hectic few days of deal-making.
Last week, M&T Bank paid back the government its bailout money, and on Monday, it announced the acquisition of Hudson City Bancorp, a struggling mortgage lender. The transactions appear to affirm M&T Bank's reputation as a hardy institution that has sought since the financial crisis to avoid hurting the interests of its shareholders.
But the deals also show M&T, based in Buffalo, as a bank in need of more capital. M&T Bank is paying roughly $3.7 billion for Hudson City, which is based in Paramus, N.J., and was held up as paragon of sound residential mortgage lending in the midst of the financial crisis. In the last two years, however, Hudson City's earnings have declined as interest rates h ave fallen and demand for its mortgages has diminished.
DealBook '
A world away from Wall Street and the tech money culture of Silicon Valley, the Einhorn family started a venture capital firm here, which raised a $40 million fund last year.
David Einhorn is the largest investor in the fund, run by his brother, Daniel, and their father, Stephen. The firm, Capital Midwest Fund, also led by another partner, Alvin Vitangcol, aims to tap the Midwestern work ethic and has ambitions of changing the way early stage investments are run.
DealBook '
DealBook '
NEW YORK TIMES
E.C.B.'s Draghi to Skip Jackson Hole  | Mario Draghi, president of the European Central Bank, has decided not to attend the annual meeting of central bankers this year in Jackson Hole. His reason? A heavy workload.
REUTERS
Will Chevron Do a Dea l? Â |Â Chevron is sitting on a $21 billion pile of cash, fueling speculation that the energy company might decide to buy a smaller rival, The Wall Street Journal writes.
WALL STREET JOURNAL
DealBook '
In Dollar Thrifty Deal, Hertz Bets Big on Certainty of Closing  | It took Hertz Global Hold ings two years to finally reach an agreement to buy the Dollar Thrifty Automotive Group. But the car rental giant appeared confident that it would overcome the regulatory hurdle.
DealBook '
Deal for About.com Fits Diller's Strategy  | With the $300 million purchase of the About Group from The New York Times Company, Barry Diller's IAC/InterActiveCorp has once again added to its expanding portfolio of Internet and media brands.
DealBook '
I.B.M. Snaps Up Kenexa  | I.B.M. has agreed to acquire Kenexa, a maker of recruitment software, for $1.3 billion in cash, or $46 a share.
DealBook '
AOL Announces a Special Dividend  | The Internet company, which is looking to return $1.1 billion to shareholders, on Monday declared a special dividend of $5.15 a share and announced plans to buy back about $600 million of its common stock, The Associated Press reports.
ASSOCIATED PRESS
Ryanair Looks to Secure Approval for Takeover  | The Irish airline Ryanair has asked rivals to consider providing competition on certain routes, as it looks to assuage regulators' concerns over a proposed $850 million takeover of Aer Lingus, a domestic rival, The Financial Times reports.
FINANCIAL TIMES
General Dynamics Picks Up Defense Assets  | General Dynamics said on Monday that it acquired the defense business of the Gayston Corporation, a company that makes precision metal components, for an undisclosed amount.
REUTERS
Bank of America Advisers Said to Get an Audience With Paulson  | John A. Paulson has agreed to hold a conference call on Tuesday with financial advisers in Bank of America's wealth management arm and their clients, The Wall Street Journal reports, citing unidentified people familiar with the matter. The call comes on the heels of a decision by Citigroup's private bank to withdraw money from Mr. Paulson's firm.
WALL STREET JOURNAL
Goldman Executive Is Said to Buy $27 Million Luxury Apartment  | J. Michael Evans, a Goldman Sachs vice chairman and a leading cand idate to become the bank's next chief, is said to have bought an entire floor at 995 Fifth Avenue for $27 million.
DealBook '
Bonus Limits Said to Prompt Departures From Barclays  | Energy traders in Europe have been leaving Barclays for hedge funds and other firms, reflecting discontent over the bank's limits on the size of bonuses, Bloomberg News reports.
BLOOMBERG NEWS
Credit Agricole Profit Falls 67% Â |Â The French bank said its profit in the second quarter fell to 111 million euros ($138.6 million) from 339 million euros a year earlier, affected by losses in Greece, Bloomberg News reports.
BLOOMBERG NEWS
Third Party Enters Di spute Over Brokerage Firm  | This week, Perella Weinberg Partners is set to offer a valuation of Morgan Stanley Smith Barney, the joint brokerage venture owned by Morgan Stanley and Citigroup.
BLOOMBERG NEWS
Morgan Stanley Executive Heads to Asset Manager  | Daniel Ornstein, who led Morgan Stanley's North American distressed trading group, is headed to GoldenTree Asset Management, where he will co-run the trading business, Bloomberg News reports.
BLOOMBERG NEWS
Private Equity Firms Could Benefit From Solyndra  | Argonaut Ventures and Madrone Partners, two investors in the failed solar company Solyndra, pl an to oversee the creation of a reorganized shell company that could turn their losses into potentially lucrative tax breaks, The Wall Street Journal reports.
WALL STREET JOURNAL
Thoma Bravo Agrees to Take Deltek Private for $1.1 Billion  | Thoma Bravo, a private equity firm based in Chicago, has agreed to buy Deltek, an enterprise software company, for $1.1 billion in cash.
DealBook '
Private Equity Lines Up Behind Romney  | Political contributions from the private equity industry have totaled more than $38 million so far in this election, more than in previous cycles, according to the Center for Responsive Politics. Perhaps not surprisingly, executives in the industry largely support Mitt Romney.
WALL STREET JOURNAL
A Look at Paul Tudor Jones's Wall Street  | A 1987 PBS documentary, “Trader,†on the hedge fund manager Paul Tudor Jones, recently surfaced online. It shows Mr. Jones and his staff predicting the stock market crash of 1987 and evokes the culture of Wall Street in the '80s.
BUSINESS INSIDER
Fletcher's Investment in a Film Raises Questions  | Alphonse Fletcher Jr. of Fletcher Asset Management agreed to back a film made by his brother, the Oscar-winning screenwriter Geoffrey S. Fletcher. But the project has produced losses, provoking the ire of Fletcher investors, The Wall Street Journal reports.
WALL STREET JOURNAL
Ackman Again Urges a Sale of General Growth Properties  | On Monday, William A. Ackman of Pershing Square Capital Management urged the board of General Growth Properties, a mall operator, to enter talks with a larger rival, the Simon Property Group, Reuters reports.
REUTERS
Hedge Fund Manager Said to Buy Property Near Kennedys  | An unidentified New York hedge fund manager has agreed to buy a house in Hyannis Port, Mass., adjacent to the Kennedy family compound, FINalternatives reports.
FINALTERNATIVES
AppSense Said to Choose Goldman for I.P.O. Â |Â Goldman Sachs, which invested in AppSense, is working on the enterprise software company's I.P.O., along with Citigroup and JPMorgan Chase, The Wall Street Journal reports, citing unidentified people close to the deal.
WALL STREET JOURNAL
Codelco Considers I.P.O. of International Unit  | The Chilean state-owner copper producer Codelco is considering taking its international unit public in order to raise money for projects overseas, its chief executive told a local newspaper, according to Reuters.
REUTERS
Malaysian Trust Expects Strong Demand for I.P.O. Â |Â The IGB Real Estate Investment Trust of Malaysia has set a narrow price range for its I.P.O. that aims to raise up to $266 million, Reuters reports, citing a t erm sheet.
REUTERS
Amazon's Cloud Services Provide Start-Ups With Computing Power  | In the start-up world, Amazon is becoming known for something other than retailing or book publishing. With its Amazon Web Services division, young companies can rent computing power for a fraction of the cost of owning and running computers, The New York Times reports.
NEW YORK TIMES
Facebook Competitor Calls It Quits  | A group of New York University students who started a project called Diaspora, which was supposed to be an alternative to Facebook that gave its users more control over their data, have decided to turn the project over to its users, despite once raising $200,000 on Kickstarter, the Bits blog writes.
NEW YORK TIMES BITS
Twitter Continues to Fight Over Users' Rights  | Twitter filed a motion to appeal a decision that ordered the company to hand over information on one of its users, AllThingsD reports. Twitter says that “Twitter users own their Tweets.â€
ALLTHINGSD
Winklevoss Twins Set Sights on Los Angeles  | Tyler and Cameron Winklevoss, tech investors whose firm is based in New York, have paid $18 million on a house in the Hollywood Hills, with plans to start investing in Los Angeles start-ups, TMZ reports.
TMZ
Citigroup to Settle Lawsuit Over Mortgage Securities  | Citigroup agreed to pay nearly $25 million to settle accusations in a private lawsuit dating to 2008 that the bank misled investors about the quality of mortgage-backed securities they bought, Reuters reports.
REUTERS
Consumer Bureau Shuffles Staff  | Leonard Chanin, a senior lawyer who oversaw regulation at the Consumer Financial Protection Bureau, will join the law firm Morrison & Foerster. In turn, the bureau announced that Kelly Thompson Cochran, one of Mr. Chanin's deputies, will take his spot.
DealBook '
Some Banks May Get More Time for Stress Tests  | Regulators said on Monday that banks with between $10 billion and $50 billion in assets may get until September 2013 to run internal tests mandated by Dodd-Frank, Bloomberg News reports.
BLOOMBERG NEWS
Apple's Patent War Draws Closer to Google  | Apple hasn't yet challenged Google directly on its mobile system, Android, which Steven P. Jobs said was too similar to Apple's. But by going after Samsung, Apple has claimed victory against a cellphone maker that uses Android in its products.
NEW YORK TIMES
A Guide to Europe's Crisis  | Adam Davidson, writing in this weekend's New York Times Magazine, takes a look at what lies in store for Europe now that summer vacation is over.
NEW YORK TIMES MAGAZINE
