Bloomberg reports that Mitsubishi UFJ’s Katsunori Nagayasu and Morgan Stanley’s James Gorman will meet on October 13th to discuss ways to strengthen global tie-ups including their Japan investment banking ventures, said the people, who asked not to be identified as the meeting is private. Gorman is attending the Institute of International Finance’s annual meeting being held in Tokyo.
The banks, whose joint venture ranks No. 1 in Japan bond underwriting this year, aim to boost investment banking as domestic companies look overseas to tap faster-growing markets. The tie-up this year managed transactions including Japan Airlines Co. (9201)’s $8.5bn initial public offering and Dentsu Inc. (4324)’s $5.1bn takeover of U.K.-based Aegis Group Plc. (AGS) .
In the meantime, The New York Post reports that a Ghana court was told Tuesday Argentina will not fork over $20m to New York hedge-fund honcho Paul Singer to free up the three-masted tall ship the billionaire seized last week.
At a court hearing in the West African nation - where the Argentine naval vessel ARA Libertad was detained - a lawyer for the South American country argued that Singer had no right to hold the ship because it’s a military vessel and therefore protected by sovereign immunity, sources told The Post.
Lawyer Larry Otoo called the seizure - Singer’s latest effort to force payment of some $1.6bn owed on defaulted bonds - an embarrassment to Ghana. He demanded the ship’s immediate release.
Finally, Reuters reports that traders who try to rig the Libor benchmark interest rate, stock indexes or oil prices would be sent to jail for a minimum of five years under rules backed overwhelmingly by an influential European Parliament committee on Tuesday.