Merrill set to collect $5bn injection from Singapore

Reports across the Atlantic suggest Merrill is in advanced talks with the Singapore Government’s Temasek Holdings over a $5bn deal. Merrill is understood to be expecting to writedown a further $8bn in Q4, as fallout from the sub-prime crisis continues. The news follows rival Morgan Stanley announcing on Wednesday it is to offload a 9.9% stake to the China Investment Corp, China's sovereign wealth fund, for $5bn. Citigroup last month received a $7.5bn injection from Abu Dhabi's sovereign wealth fund, while Swiss investment bank UBS reported it is to sell an 11.5% stake to the Singapore I...