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  • 09/20/2017 23:44:15

    CapitaLand Commercial to buy Singapore office tower from BlackRock for $1.55 bln

    SINGAPORE, Sept 21 (Reuters) - CapitaLand Commercial Trust said on Thursday it was buying an office tower in Singapore's financial district for for S$2.1 billion ($1.55 billion) from BlackRock Inc, the world's largest asset manager.

  • 09/20/2017 12:18:57

    Financial stocks spike up after Fed, with Bank of America and Wells Fargo shares swinging higher

    Financial stocks spiked higher in afternoon trade Wednesday, after the Federal Reserve said it would begin normalizing its balance sheet, as expected, in October. The SPDR Financial Select Sector ETF was up 0.6%, after trading unchanged just prior to the Fed's announcement. Among the ETF's more heavily weighted components, J.P. Morgan Chase & Co.'s stock climbed 1.0%, after being up just 0.3% pre-Fed, while shares of Bank of America Corp. jumped up 0.9% after being down 0.4% pre-Fed. Elsewhere, Shares of Citigroup Inc. rallied 1.1%, Goldman Sachs Group Inc. gained 0.9% and Wells Fargo & Co. advanced 0.8%. Just before the Fed, shares of Citigroup were up 0.2%, of Goldman Sachs head inched up less than 0.1% and of Wells Fargo were down 0.1%. Meanwhile, the S&P 500 eased 0.1%, after being down less than 0.1% pre-Fed.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/20/2017 12:02:00

    Why the Bankruptcy Code is turning into a double-edged sword for banks

    Are banks getting boxed in after introduction of the Bankruptcy Code? The signs are pointing that way. Not only are they looking at prospects of steep haircuts (write-offs) on their loans; the Code would mean banks losing their business to the bond market. The Code is also upsetting the traditional rules of the games, where banks sold the personal guarantor's assets if a company was in default. This Monday, the Chennai bench of the National Company Law Tribunal (NCLT) ruled against State Bank of India (SBI) trying to do so. The case in question is between Veesons Energy Systems and SBI, in which the bench ruled in favour of the former's promoter and managing director, V Ramakrishnan, who gave personal guarantees to banks. SBI notified Veesons and Ramakrishnan on November 12 last year that the personal assets would be sold off. The company challenged it, stating it had applied to the Board for Industrial and Financial Reconstruction and till its application was decided, dues could not .

  • 09/19/2017 15:23:56

    BRIEF-Nicholas Financial notifies Ralph Finkenbrink that co would not extend his employment as CEO beyond Sept 30

    Nicholas Financial Inc(NICK). * Nicholas financial - Notified Ralph T. Finkenbrink that co would not extend his employment as president and CEO beyond his retirement date of Sept 30. * Nicholas Financial Inc(NICK) - Board is continuing its search for a new chief executive officer Source text: Further company coverage:

  • 09/19/2017 15:22:53

    Microsoft hikes quarterly dividend, announces changes to board of directors

    Microsoft Corp. announced Tuesday that it is increasing its quarterly dividend to 42 cents per share, or 7.6% compared with the year-earlier quarter. The dividend is payable Dec. 14, 2017 to shareholders of record on Nov. 16, 2017. The ex-dividend date will be Nov. 15, 2017. In addition to the dividend hike the company also said it was adding PepsiCo Inc. Chief Financial Officer Hugh Johnston to its board of directors. Microsoft stock edged down 0.1% after hours, after closing nearly 0.5% up to $75.44 during the regular session.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/19/2017 13:09:31

    Regulator settled with Wells Fargo for 100 times less than law allowed: report

    The Consumer Financial Protection Bureau could have fined Wells Fargo $10 billion instead of $100 million last year for the unauthorized customer accounts fraud, Reuters reported Tuesday. The regulator settled for so much less to resolve the matter quickly, according to documents sent to Republican staff on the House Financial Services Committee whose chairman, Representative Jeb Hensarling, released a 929-page report on Tuesday entitled, "Did the CFPB let Wells Fargo 'beat the rap'?" One memo CFPB staff sent to Director Richard Cordray in July 2016 that was included in the report recommended the smaller figure, saying it was enough to act as an effective deterrent and close the matter quickly. CFPB spokesman David Mayorga told Reuters the agency has not had a chance to review the report, but defended its work policing Wells Fargo.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/19/2017 10:40:38

    CitiFinancial to Pay Nearly $1 Million for Illegal Repossessions

    The Justice Department said on Monday that CitiFinancial Credit Co. — a successor to CitiFinancial Auto Corp. — will pay $907,000 to resolve allegations that it violated the Servicemembers Civil Relief Act. Between 2007 and 2010, CitiFinancial repossessed 164 cars owned by SCRA-protected servicemembers without first obtaining the required courtRead More

  • 09/18/2017 17:33:13

    FBI was wiretapping ex-Trump campaign chairman Manafort as late as this year: report

    Former Trump campaign chairman Paul Manafort was secretly wiretapped by the FBI before and after the presidential election, CNN reported late Monday. The report said the surveillance continued until early this year, a time period when Manafort and President Donald Trump were still communicating, though it was not immediately clear if his conversations with Trump had been captured. CNN said special counsel Robert Mueller's investigative team has been given details of Manafort's intercepted communications. While sources told CNN the evidence may not be not conclusive, FBI investigators were reportedly concerned that Manafort was encouraging Russian meddling in the election. The secret surveillance order was first approved by the Foreign Intelligence Surveillance Act court in 2014, and renewed at some point last year. Earlier this summer, Manafort's home was raided by the FBI and his spokesman subpoenaed by the Mueller investigation. In late August, it was reported that Mueller was working with New York Attorney General Eric Schneiderman in his Manafort investigation to share potential evidence of financial crimes. In a separate report Monday, the New York Times said Mueller's investigators told Manafort during the raid on his house that they planned to indict him.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/18/2017 10:35:29

    Equifax executives subject to criminal probe: report

    The U.S. Justice Department has begun a criminal investigation into sales of stock by Equifax Inc. executives, Bloomberg News reported, citing people familiar with the investigation. The probe will look into the stock sales of its chief financial officer, John Gamble; its president of U.S. information solutions, Joseph Loughran; and its president of workforce solutions, Rodolfo Ploder. The Securities and Exchange Commission is working with the Justice Department on the investigation into whether they violated insider trading laws by selling stock after the company discovered it had been hacked but before disclosing the breach to the public, the report said. The transactions were not disclosed in regulatory filings for pre-scheduled trading activities. Lawmakers, state attorneys general and several regulators are scrutinizing the breach that compromised the privacy of 143 million U.S. consumers, according to Equifax statements. Equifax shares have fallen 35% since the breach was disclosed on Sept. 7 after the market close. The company and the executives didn't immediately respond to Bloomberg's requests for comment.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/17/2017 20:54:16

    BRIEF-Wenner Media to explore strategic options for Rolling Stone

    Wenner Media LLC - * Wenner Media to explore strategic options for Rolling Stone. * Wenner Media - Initiated a process to explore strategic options for its majority interest in rolling stone. * Wenner Media - Methuselah Advisors has been retained as Wenner Media's financial advisor Source text for Eikon: Further company coverage:

  • 09/17/2017 18:22:10

    After 50 years, Rolling Stone is up for sale: report

    Rolling Stone, the iconic music magazine, is being put up for sale, according to a New York Times report Sunday. Founder Jann Wenner is ready to give up control of the independent magazine, the Times reported, putting Wenner Media, which owns a majority stake in Rolling Stone, on the market. The move comes in response to financial difficulties, largely related to the decline in print advertising in recent years. Last year, Wenner Media sold a 48% stake to Singapore's BandLab Technologies Ltd. Wenner has hired bankers to explore a sale, the Times reported, but no potential buyers have emerged yet. Wenner started the magazine in 1967 in San Francisco with music critic Ralph Gleason, and it made its mark in the 1970s with rollicking articles by the likes of Hunter S. Thompson, P.J. O'Rourke and Cameron Crowe. "I've enjoyed it for a long time," Wenner told the Times, but selling is "just the smart thing to do."Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/14/2017 10:39:36

    Nestle to acquire majority interest in Blue Bottle Coffee

    Nestle SA has agreed to acquire a majority interest in coffee startup Blue Bottle Coffee, an Oakland, California-based chain of coffee shops that had attracted big-name venture investors. Nestle did not provide financial details in announcing the deal, but The Financial Times reported that the company is paying up to $500 million for two-thirds of the company, valuing it at about $700 million. "This move underlines Nestlé's focus on investing in high-growth categories and acting on consumer trends," Nestle Chief Executive Mark Schneider said in the announcement. Nestle said it would continue to run Blue Bottle as a separate company, keeping management like Chief Executive Brian Meehan and Chief Product Officer James Freeman in place. "To us, this deal brings with it an attendant recognition and belief in our accomplishments," Meehan and Freeman said in a blog post. The coffee chain, founded in 2002, had attracted more than $120 million in venture investment from the likes of Alphabet Inc.'s Google Ventures, Chris Sacca of "Shark Tank" and Twitter Inc. cofounder Ev Williams, according to Crunchbase. Nestle stock closed with a 0.1% decline on the Swiss exchange, while its ADR was trading about 0.4% lower Thursday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/14/2017 10:27:20

    BB&T Keeps Focus on ‘Profitable’ Prime Loans as Volume Dips, CEO Says

    BB&T Corp.’s goal for the third quarter is to accelerate slowing loan growth and continue to focus on prime auto loans “at a level which improves profitability and returns,” Chairman and Chief Executive Kelly King said on Tuesday at Barclays Global Financial Services Conference. BB&T’s auto loan volumes — especiallyRead More

  • 09/13/2017 10:39:45

    Wells Fargo CEO Addresses Auto Scandals at Barclays Conference

    Wells Fargo & Co. Chief Executive Tim Sloan spoke on a number of issues impacting the bank’s auto finance business during a presentation at the 2017 Barclays Financial Services Conference including the forced-insurance scandal, tightened underwriting tactics, and a possible increase in losses due to Hurricane Harvey. When asked aboutRead More

  • 09/13/2017 10:16:26

    Businesses far from the devastation can feel storm's impact

    Small businesses with customers or suppliers along the Gulf Coast and in Florida feel a financial impact from Harvey and Irma

  • 09/12/2017 15:39:01

    BRIEF-Becker Milk Co Ltd reports Q1 earnings per share C$0.27

    Becker Milk Co Ltd(BCKMF). * The Becker Milk Company Limited(BCKMF): Three month financial results and regular dividend. * Quarterly adjusted FFO per share C$0.21. * Quarterly revenue C$894,400 versus C$938,200. * Q1 earnings per share C$0.27 Source text for Eikon: Further company coverage:

  • 09/12/2017 15:36:19

    BRIEF-Farmer Bros announces select preliminary Q4 and full fiscal 2017 financial results

    * Farmer Bros. Co. Announces select preliminary fourth quarter and full fiscal 2017 financial results and filing of form 12b-25

  • 09/12/2017 14:41:01

    BRIEF-Global Power Equipment Group reports financial results for 2016

    Global Power Equipment Group Inc(GLPW). * Global Power reports financial results for 2016; provides operational update and announces strategic initiative Source text for Eikon: Further company coverage:

  • 09/12/2017 11:27:34

    Goldman's stock surges after revenue growth target unveiled but some analysts are 'skeptical'

    Shares of Goldman Sachs Group Inc. rallied Tuesday, to provide the biggest boost for Dow Jones Industrial Average , but some Wall Street analysts weren't as enthusiastic as investors about the details of Goldman's outline for growth. The stock climbed $6.29, or 2.8%, in afternoon trade. That added about 43 points to the Dow's price, which was up 63 points at 22,121, above the Aug. 7 record close of 22,118.42. Goldman said earlier it targeted $5 billion in incremental revenue over the next three years, including more than $1 billion from its fixed income, currency and commodities (FICC) trading business, another $1 billion from its investment management business and over $2 billion from its lending and financing efforts. JMP analyst Devin Ryan appreciated the "good detail" around where the biggest opportunities are seen, but characterized the areas of focus as "largely incremental more than transformational." Buckingham Research analyst James Mitchell reiterated his neutral rating, saying while Goldman's revenue growth target was "laudable," he remained "somewhat skeptical," as much of the growth is expected from "challenging markets where rivals are fiercely competing for market share." Goldman's stock has lost 5.3% year to date, while the SPDR Financial Select Sector ETF has rallied 6.7% and the Dow has run up 11.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/12/2017 10:12:26

    Auto ABS Issuers Pull Pools Back From Harvey, Irma Impacted Areas

    During one of the busiest times for the secondary market, auto lenders are excluding vehicles affected by Hurricane Harvey from ABS issuances over fears of negative-equity deals, according to presale reports.   Exeter Finance Corp., Fifth Third Bank Dealer Financial Services, Ford Motor Credit Co., and Santander Consumer USA haveRead More

  • 09/12/2017 08:33:34

    Cohn exit from White House would be 'terrible' for markets: Ray Dalio

    If Gary Cohn, a top economic adviser to President Donald Trump, were to leave the White House it would likely be "terrible" for financial markets, billionaire hedge-fund manager Ray Dalio said Tuesday at the Delivering Alpha conference in New York. "It would undermine future economic progress, in terms of reforms, and it would present a challenge in putting together the administration," said Dalio, the founder of Bridgewater Associates, the world's largest hedge fund. News reports have said Cohn, the former Goldman Sachs chief operating officer who was appointed to head up Trump's National Economic Council, has fallen out of favor with Trump. Cohn, along with Treasury Secretary Steven Mnuchin, is spearheading the administration's push for a corporate tax overhaul.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/12/2017 06:27:15

    Alexion to fire 20% of global workforce in restructuring

    Alexion Pharmaceuticals Inc. said early Tuesday that it plans to fire 20% of its global workforce as part of a restructuring effort. Alexion expects pre-tax savings of about $270 million in GAAP and about $250 million in non-GAAP each year by 2019, and said that expenses associated with the restructuring are expected to total $340 million to $440 million. The changes will affect GAAP EPS guidance but not the company's 2017 revenue guidance or 2017 non-GAAP EPS guidance. Alexion said the restructuring savings will allow it to meet financial ambitions, "including growing GAAP operating margin to 37% and non-GAAP operating margin to 50% in 2019," and that it plans to invest about $100 million a year into research and development starting next year. As part of the restructuring, the company said it plans to eliminate spend and workers associated with de-prioritized drug pipeline programs, close multiple company sites, including its Rhode Island manufacturing facility and certain regional and country-based offices, and outsource certain non-core finance and IT roles. Alexion also plans to relocate its headquarters from New Haven, Ct. to Boston, Ma. by mid-2018, with about 400 jobs based in Boston; New Haven will be Alexion's "Center of Excellence" with about 450 jobs based there in research labs, clinical supply and quality teams, nurse case management and enterprise business services. Alexion shares were not active in premarket trade. Shares have surged 33.7% over the last three months, compared with a 2.4% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/11/2017 20:44:06

    Nikkei boosted to near 1-month high by Wall St, financial firms

    TOKYO, Sept 12 (Reuters) - Japanese stocks climbed to near their highest in a month on Tuesday with all sectors rising after Wall Street soared overnight.

  • 09/11/2017 18:39:28

    After roads and railways, China's Silk Road dealmakers eye financial firms

    HONG KONG (Reuters) - After ports and industrial parks, the dealmakers leading China's trillion-dollar push to build a modern Silk Road are turning to the financial sector, targeting Europe's banks, insurers and asset managers to tap funds and expertise.

  • 09/11/2017 14:58:31

    Brexit Leaves French Fishermen On The Hook

    French fishermen in Brittany and Calais say up to 80 percent of their haul is from British waters. Many fear financial ruin if their access is restricted after Brexit.

  • 09/11/2017 14:07:38

    S&P 500 logs 31st closing record of 2017 as stock market bounces in 'relief rally'

    U.S. stocks on Monday kicked off the first full week of trading in September with a bang, underlined by the S&P 500 ending at a record, as a raft of meteorological and geopolitical jitters gave way to a re-emergence of appetite for assets perceived as risky. The S&P 500 index closed up 1.1% at 2,488, marking its first record close since Aug. 7, buoyed by gains in the technology and financials sectors. Financials, as gauged by the PowerShares KBW Bank Portfolio and the Financial Select Sector SPDR ETF booked their best daily rises since June 9, according to FactSet data. Bank stocks benefited from a resurgence in benchmark Treasury yields, with the 10-year Treasury note rising to 2.13%, compared with 2.05% late Friday. Higher yields support a banks's business models. The Dow Jones Industrial Average , meanwhile, jumped about 260 points, retaking is perch above 22,000, while the Nasdaq Composite Index closed up 1.1%. The technology sector has often been viewed as a gauge of Wall Street's tolerance for risk, seeing heavy bidding when investors feel bullish on the market. Monday's bounce was attributed to Hurricane Irma hitting Florida with less force than feared and North Korea refraining from conducting another missile test in the Korean Peninsula, factors that last week had helped push stocks and bonds mostly lower. The relatively milder impact of Hurricane Irma helped insurers, bracing for bigger liabilities from the storm, rally, highlighted by a 3.1% advance in the PowerShares KBW Property & Casualty Insurance Portfolio , a popular exchange-traded fund used to invest in the in the sector. Art Cashin, UBS's director of floor operations, on CNBC described Monday trading as a two-pronged "sigh of relief rally." In corporate news, shares of Apple Inc. bounced 1.8% ahead of what is expected to be the debut of a fresh lineup of iPhones and other products from the Cupertino, Calif.-based tech giant. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/11/2017 09:24:17

    StanChart to meet Britain's financial watchdog over Indonesia probe

    Standard Chartered(SCBFF) will meet Britain's Financial Conduct Authority this week over allegations of corruption at an Indonesian power plant company majority-owned by its private equity arm, a source familiar with the matter said on Monday.

  • 09/11/2017 08:29:26

    Goldman, Apple stocks contribute 50 of Dow's 200-point rally

    The Dow Jones Industrial Average was trading firmly higher on Monday, aided by a pop in shares of Apple Inc., and Goldman Sachs Group. Shares of Goldman , up $4.04., or 1.8%, were contributing about 27 points to the price-weighted Dow . Apple Inc.'s shares added about 22 points, ahead of the Cupertino, Calif.-based tech giant's latest iPhone on Tuesday. Goldman's shares may be tied to a rise in yields, with the 10-year benchmark Treasury note at 2.11% from 2.05% late Friday in New York. Higher yields are bullish for banks' lending models. A $1 move in any Dow component equates to a 6.89-point swing in the Dow. Overall , the market was enjoying a broad-based rally power by the financial sector and technology shares , both leading gains for the S&P 500 index . Most recently, the Dow was up 210 points, or 1%, at 22,008, the S&P 500 was 0.8% higher, while the Nasdaq Composite Index was looking at a gain of 1.2% at 6,433. The rally came in part as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, reviving investor appetite. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/10/2017 23:51:36

    UK Stocks-Factors to watch on Sept 11

    Sept 11 (Reuters) - Britain's FTSE 100 index is seen opening up 28 points at 7,405 on Monday, according to financial bookmakers. * AstraZeneca: Two AstraZeneca drugs tackling lung cancer in different ways delivered encouraging results on Saturday, helping the British group offset July's big clinical trial setback in the disease. * SHELL: Shell's Nigerian business has signed a $300 mln deal with Shoreline Energy to develop gas pipeline infrastructure in the country, Financial Ti

  • 09/08/2017 13:11:07

    BRIEF-OFG Bancorp reports operations normal

    * Ofg bancorp - ‍after hurricane irma struck puerto rico, all but two of its 48 financial centers open for business as usual​ Source text for Eikon: Further company coverage:

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