Legal

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/Legal

Visa to raise $10bn in IPO

Card payment network Visa has disclosed that it plans to raise up to $10 billion through its forthcoming stock market flotation, which is expected to take place early next year.

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E*Trade downgraded; bankruptcy risk highlighted

A Citi analyst has downgraded E*Trade to 'sell' and warned of a potential bankruptcy risk after the online broker reported news of further mortgage-related losses, the withdrawal of earnings guidance and an SEC investigation into its capital markets business.