This is what's in the news for Thursday, June 21 2012. The Wall Street Journal reports a bipartisan group of lawmakers called on regulators to overhaul the way IPOs are conducted, concerned that last month's stock sale by Facebook (NASDAQ:FB) shows the current system unfairly hurts small investors. The Wall Street Journal also reports the quality of new cars for Ford (NYSE:F) and Chrysler Group's (PINK:FIATY) Chrysler brand fell in the J.D. Power & Associates Initial Quality Survey. GM (NYSE:GM) improved as three of its four brands had fewer problems than the average reported by new vehicle owners. Bloomberg reports German Chancellor Angela Merkel balked at committing to direct sovereign debt purchases through the euro area bailout fund, pushing back against calls by the blocs leaders who support the measure as a way to ease the crisis. While legally possible, its not up for debate at present, Merkel said. Reuters reports KKR & Co. (NYSE:KKR) put Australia's Bis Industries, with coal mining, steel and iron ore operations, up for sale, a business valued at about $1.8B including debt, sources say. Finally, Reuters also reports JPMorgan (NYSE:JPM) amended its offer to shareholders of troubled Technicolor (PINK:TCLRY), raising its price to 1.90 euros per share from 1.60 euros for the reserved capital increase that could see it buy a stake of up to 30% in the company, and topping a rival bid from Vector Capital.
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