Financial Business Review: Credit Suisse Investigated, Blackstone To Sell London Property
The United States Justice Department and New York State Attorney General Eric Schneiderman are looking into Credit Suisse (NYSE:CS) concerning its actions on mortgage-backed securities, according to Reuters. Earlier in the week, JPMorgan Chase & Co. (NYSE:JPM) was sued by New York, which alleges fraud by the firm’s Bear Stearns division in the packaging and selling of mortgages.
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The Blackstone Group (NYSE:BX) would like to divest an office park in London for $1.3 billion, which represents around 67 percent more than it paid it only 18 months ago, according to sources. Since that acquisition, Blackstone has reduced the vacancy rate to 1 percent from 9, and has initiated work on constructing additional space.
The National Bank of Greece (NYSE:NBG) and Eurobank Ergasias are said to be in discussion in regards to a possible merger, that if successful, could form that country’s largest lending institution. The talks emerge while Greece’s struggling lenders are under enormous pressure to survive by supporting one another.