Merrill Lynch has helped Allied Irish Banks (AIB) engineer a $3.1bn (€3.2bn) merger between its embattled US arm Allfirst Financial and a rival bank part-owned by legendary investor Warren Buffett.

Merrill provided a fairness opinion to the board of AIB. The Irish bank received financial advice from its own corporate finance arm.

AIB to sell Allfirst to bank held by Buffett

Michael Hoare

Allied Irish Banks

M&T Bank

Berkshire Hathaway

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Once an heir apparent for Larry Fink, Wiedman now tops the list of potential successors to PNC chief Bill Demchak.

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The European Union has a plan to counteract the swathe of tariffs U.S. President Trump is planning to impose on foreign goods, European Commission President Ursula von der Leyen said.

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The Japanese investment firm is entwining its fortunes with a company that expects to lose billions of dollars for years to come, in the hope that it will emerge as the leader in AI.

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The BlackRock CEO says he wants individuals to have better access to the menu of private and illiquid investments that have long been core holdings of pensions, endowments and other institutions.

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The prospect of a radical escalation in the global trade war in the coming days has nearly doubled the probability of a recession in the U.S. economy in the next 12 months to around 35%, according to Goldman Sachs.

Goldman Sachs Lifts U.S. Recession Probability to 35%

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