On Jan. 1, Latvia will adopt the euro, and its lats currency will be no more. Farewell to the bearded Krisjanis Barons, the collector of folk songs who graces the 100-latu note. The Baltic nation is shucking a piece of its heritage because its leaders predict joining Europe’s common currency zone will lead to more trade and prosperity.
NRG Energy Inc., the largest independent U.S. electricity producer, agreed to buy most of the assets of Edison International’s bankrupt Edison Mission Energy for $2.64 billion to expand its coal and wind holdings.
American International Group Inc ., the insurer rescued by the U.S. government, agreed to sell a rail-car leasing unit to Perella Weinberg Partners LP, the two companies said today in a joint statement.
Perella Weinberg Partners LP scored one of the biggest coups since the investment bank’s founding five years ago by serving as the main financial adviser to NYSE Euronext on its planned merger with Deutsche Boerse AG .
Morgan Stanley and Citigroup Inc. executives held unsuccessful talks since August in a final push to settle a dispute over the value of their jointly owned brokerage, people with direct knowledge of the matter said.