ownership News

EU Prods China to Relax Restrictive Bank Ownership Rules

The European Union is pressing China to relax restrictions on foreign ownership of its banks in order to gain wider access to the Chinese financial markets, the region’s Internal Markets Commissioner said on Tuesday. Michel Barnier, in Beijing for a …

Berkshire Hathaway to Buy Rest of Wesco Financial

Warren Buffett’s Berkshire Hathaway Inc. will buy the 19.9 percent it does not own of Wesco Financial Corp., in a deal worth about $547.6 million, the companies said Monday. In September, Buffett submitted a takeover bid for Wesco, run by …