Deutsche Bank would buy 5 per cent stakes in BPL. BPL is owned and managed by TPG Nambiar family and headquartered in Banglore. The board of the company has already approved issue of 24.5 lakh equity shares on Friday.

A senior official of company said that it would decide on share prices according to the Sebi guidelines. The shares of company witnessed a downfall of 10.03% on Thursday and closed at Rs 30.95 on Friday.

JPMorgan Chase, a leading global financial services firm has informed that it has acquired all deposits, branches, assets and certain liabilities of Washington Mutual's banking operations from the Federal Deposit Insurance Corporation (FDIC) for around $1.9 billion.

However, the transaction excludes senior unsecured debt, subordinated debt and preferred stock of Washington Mutual's banks.

London - Britain's ailing Bradford & Bingley building society is about to be nationalized, media reports said Saturday, citing sources within London's financial district.

In order to avert a possible collapse, the country's eighth largest mortgage lender could be merged with Northern Rock, which was itself nationalized earlier in the year when it failed, the Daily Telegraph and Daily Mail reported.

On a visit to the United States, British Prime Minister Gordon Brown said the reports were speculation and he would not comment on them.

Media reports earlier in the week had said that Britain's Financial Services Authority was seeking a buyer for Bradford & Bingley, the latest victim of the global financial crisis.

San Francisco - Whatever feelings you might expect to follow the worst bank failure in US history - trepidation, panic, anxiety, fear - there was barely a hint of concern among customers and staff Friday at a suburban California branch of Washington Mutual.

Sure, there were the usual lines of customers grinding their teeth in frustration as they waited for an available cashier at a WaMu branch in San Jose, California. But there was hardly any serious discussion among customers about the implications of the bank's failure, and certainly no apparent run on the bank.

New York/Frankfurt  - It is a dramatic race against time - while Washington fights a battle over a mammoth rescue plan for the financial sector, the credit crisis is bringing down one US bank after another.

The latest victim was the country's once-leading savings bank, Washington Mutual Inc (WaMu). Federal regulators late Thursday shut down the institution and its assets were immediately sold for a pittance late Thursday to the financial giant JP Morgan Chase in an emergency move.

London - British banking giant HSBC is to cut 1,