This is the financial news network. Here's what's in the news for Monday August 20, 2012. The Wall Street Journal reports some early backers of Groupon (NASDAQ:GRPN), including Silicon Valley veteran Marc Andreessen, are leaving, joining investors who have lost faith in companies that had been expected to drive a new Internet boom. Reuters reports Sharp (PINK:SHCAY) will submit an asset appraisal report to its banks in September that they will use to identify businesses the company has to sell in return for funding, sources at the lenders say. Reuters also reports Korea Life Insurance Co. is unlikely to pursue the purchase of ING's (NYSE:ING) Southeast Asian life insurance operations, parent firm Hanwha Group says. Finally, Bloomberg reports Facebook (NASDAQ:FB) shares will face more pressure when an additional 1.44B shares are freed up through November. For more financial news and analysis follow us on Twitter @FNNOnline.
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up