Connect to share and comment

Software maker Gigamon's shares jump 33 percent in debut

June 12, 2013 11:31
(Reuters) - Shares of Gigamon Inc, a maker of data traffic management software, jumped as much as 33 percent in their market debut, underscoring investor confidence in enterprise software start-ups. The company, valued at about $680 million at the opening price, raised about $85.5 million after pricing the offering of 6.75 million shares at $19 each, the midpoint of the expected range. Gigamon sold 4.5 million shares in the offering, while shareholders sold the rest.

Sale of AIG plane lease unit to Chinese group at risk

May 31, 2013 11:46
By Jessica Toonkel and Ben Berkowitz (Reuters) - A Chinese group's purchase of ILFC, one of the world's largest airplane leasing businesses, could collapse after insurer American International Group Inc <AIG.N> said on Friday it did not receive a scheduled deposit payment.

Top two U.S. funeral companies merge as baby boomers boost demand

May 29, 2013 15:50
(Reuters) - Service Corp International <SCI.N> agreed to buy Stewart Enterprises Inc <STEI.O> for $1.13 billion, merging the two largest U.S. funeral home operators as the industry gears up to offer more services to aging baby boomers. Large-scale consolidation in the highly fragmented funeral business has long been on the cards, with the industry looking to sell more pre-planned funeral contracts to the 76 million baby boomers in the United States.

U.S.-based Japanese stock funds up $1.5 billion in record inflow streak: Lipper

May 23, 2013 18:31
By Sam Forgione NEW YORK (Reuters) - Investors in funds based in the United States poured $1.51 billion into Japanese stock funds in the latest week, marking the longest streak of inflows into the funds on record, data from Thomson Reuters' Lipper service showed on Thursday.

Former Goldman banker settles SEC 'pay-to-play' charges

May 23, 2013 15:46
By Lisa Lambert and Jonathan Stempel WASHINGTON/CHICAGO (Reuters) - A former Goldman Sachs Group Inc. investment banker has agreed to a five-year securities industry ban and a record fine to settle Securities and Exchange Commission charges that he broke rules against influence peddling to win bond underwriting business in Massachusetts.

UK regulator fines JPMorgan 3 million pounds

May 23, 2013 08:31
LONDON (Reuters) - Britain's Financial Conduct Authority (FCA) said it has fined U.S. bank JPMorgan <JPM.N> 3.08 million pounds ($4.6 million) for being unable to show it was giving clients the right advice. The FCA said on Thursday the failings were not corrected until the watchdog brought them to the firm's attention in the course of its wider review of wealth management firms.

JC Penney secures $2.25B loan, $500M more anticipated, as it seeks to stem sales decline

The Canadian PressMay 22, 2013 17:32
NEW YORK, N.Y. - J.C. Penney Co. said Wednesday it has secured a $2.25 billion loan, $500 million more than it had expected, as it tries to stop a collapse in its sales. The expanded financing deal with Goldman Sachs comes as the Plano, Texas-based retailer has been burning through cash and struggling to win back customers. An overhaul plan spearheaded by its former CEO Ron Johnson had backfired and caused sales to plummet.

BNY Mellon to add up to 100 positions at wealth management unit

May 22, 2013 08:03
(Reuters) - BNY Mellon Corp <BK.N>, the world's largest custody bank, said it would add up to 100 positions at its wealth management unit, expanding the sales force at the unit by 50 percent in the next two years. Banks such as Morgan Stanley <MS.N> and Goldman Sachs Group Inc <GS.N> have been expanding their less risky wealth management businesses as increased regulations hit investment banking.

Goldman exits China's ICBC, seven years and billions later

May 20, 2013 06:30
By Fiona Lau and Elzio Barreto HONG KONG (Reuters) - Goldman Sachs <GS.N> launched on Monday the sale of about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China <1398.HK>, offering to sell its entire remaining stake in the world's biggest bank by market value.

UK campaign group loses challenge to Goldman Sachs tax deal with British government

The Canadian PressMay 16, 2013 06:00
LONDON - A U.K. pressure group has lost its legal challenge to what it called a "sweetheart" tax deal between U.K. authorities and Goldman Sachs. UK Uncut Legal Action, which campaigns against tax avoidance, had sought a High Court declaration that it was unlawful for the investment bank to avoid a multimillion pound interest bill on unpaid tax on bonuses. Judge Andrew Nicol ruled Thursday that the decision was not unlawful even if it was not a "glorious episode."
Syndicate content