Regions Financial Faces Investigations and 4 Hot Stocks Making Market Waves
A decades-long legal battle between Walt Disney Co. (NYSE:DIS) and Stephen Slesinger Inc over trademark ownership related to the Winnie the Pooh characters might be heading Disney’s way. An appeals court in Washington ruled in favor of the entertainment conglomerate saying the US Patents and Trademark Office was justified to throw out claims filed by Stephen Slesinger Inc. The appeals court cited a 2009 ruling by a federal court that said Slesinger had transferred its rights to the Pooh works to Disney.
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Chinese sovereign wealth fund, China investment Corporation, and similar country funds from Korea and Malaysia are looking to acquire Chiswick Park, a 1.1 million sq ft office campus development by Blackstone (NYSE:BX) valued at about £800 million. This could be a landmark deal since the start of the financial crisis and reflects the growing interest international investors have in London commercial real estate. Blackstone acquired the Chiswick Park property from a consortium in early 2011 for £480 million, says the Financial Times.
Regions Financial Corporation (NYSE:RF) is reportedly facing investigations by various federal agencies for allegedly classifying bad loans improperly during the financial crisis. These facts have emerged after depositions filed in 2010 lawsuit were unsealed by a federal judge. A September 17 deposition by a former Regions Financial executive claims the bank pulled some ‘non-accrual’ loans aggregating about $150 million with the intention to delay their disclosure.
Nokia (NYSE:NOK) seals a deal with leading Chinese e-commerce company 360buy whereby it will sell its smart phones on the latter’s online platform. The deal enabled Nokia to launch its new e-store on 360buy.com and debut the Chinese launch of its Lumia 920 smartphone.
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