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What's In The News: June 18, 2012

Financial News Network
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June 20, 2012 AT 12:18 AM
This is what's in the news for Monday, June 18 2012. The Wall Street journal reports Greek voters narrowly endorsed pro-bailout forces in a momentous election, easing fears for now of an imminent rupture with the euro zone. The Wall Street Journal also reports a U.S. government program that helps struggling homeowners take advantage of low interest rates to cut monthly mortgage payments is providing an unexpected revenue boost to major banks such as Wells Fargo (NYSE:WFC) and J.P. Morgan Chase (NYSE:JPM). Reuters reports AXA Private Equity (PINK:AXAHY) says it raised $8B for two of its funds, most of which it will use to take assets off the hands of banks cutting down their exposure in the face of rampant regulation. Reuters also reports British supermarket giant Tesco Plc (PINK:TSCDY) says it will sell 50% of its Japanese business to the country's Aeon Corp. for a nominal sum, ending an eight-year attempt to break into Japan's retail market. Finally, Bloomberg also reports Deutsche Boerse AG (PINK:DBOEY) asked an EU court to overturn a ban on its planned merger with NYSE Euronext (NYSE:NYX), saying regulators made errors when reviewing the deal that would have created the world's biggest exchange.