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BATS Global completes deal to buy Direct Edge to create second-largest US stock exchange

BATS Global Markets Inc. said Monday that it has completed its purchase of Direct Edge Holdings LLC to create the second-largest stock exchange in the U.S. The deal was originally announced in August. Financial terms were never disclosed. Both companies are privately owned. The combined company ranks behind NYSE Euronext, the owner of the New York Stock Exchange, in terms of market share, and ahead of The Nasdaq OMX Group Inc., BATS said. Joe Ratterman, CEO of BATS, will stay in that role. William O'Brien, Direct Edge's CEO, is now president of BATS.

BATS Global completes deal to buy Direct Edge to create second-largest US stock exchange

BATS Global Markets Inc. said Monday that it has completed its purchase of Direct Edge Holdings LLC to create the second-largest stock exchange in the U.S. The deal was originally announced in August. Financial terms were never disclosed. Both companies are privately owned. The combined company ranks behind NYSE Euronext, the owner of the New York Stock Exchange, in terms of market share, and ahead of The Nasdaq OMX Group Inc., BATS said. Joe Ratterman, CEO of BATS, will stay in that role. William O'Brien, Direct Edge's CEO, is now president of BATS.

State Street shares drop amid cost concerns

By Ross Kerber and Tanya Agrawal (Reuters) - Shares in State Street Corp <STT.N> fell on Friday after the world's second-largest standalone custody bank reported operating results below expectations and said it could face rising regulatory costs. State Street of Boston reported solid fourth-quarter results in some areas like its asset-servicing business, driving net income for the period to $545 million, or $1.22 per share, from $468 million, or $1.00 per share, a year earlier.

US charges mobster over 'Goodfellas' JFK heist

An elderly New York mobster was charged on Thursday over the spectacular 1978 cash and jewelry heist from JFK airport immortalized in Martin Scorsese's movie "Goodfellas." Vincent Asaro, reputedly a senior member of the notorious Bonanno crime family, is the first suspect charged in the daring robbery, at the time the largest heist on US soil. A gang of armed mobsters stole $5 million in cash and nearly $1 million in jewels from Lufthansa Airlines at a vault at New York's flagship airport on December 11, 1978.

US charges mobster over 'Goodfellas' JFK heist

An elderly New York mobster was charged on Thursday over the spectacular 1978 cash and jewelry heist from JFK airport immortalized in Martin Scorsese's movie "Goodfellas." Vincent Asaro, reputedly a senior member of the notorious Bonanno crime family, is the first suspect charged in the daring robbery, at the time the largest heist on US soil. A gang of armed mobsters stole $5 million in cash and nearly $1 million in jewels from Lufthansa Airlines at a vault at New York's flagship airport on December 11, 1978.

Euronext sees regulatory backing for spin-off in Feb

PARIS (Reuters) - Pan-European financial market operator Euronext aims to get regulators' backing for its spin-off from NYSE Euronext this or next month, its CEO said on Wednesday. Euronext is due to be spun off in a 1 to 1.5 billion-euro ($1.4-$2.0 billion) listing after Atlanta-based IntercontinentalExchange (ICE) merged with New York Stock Exchange parent NYSE Euronext in November.

NYSE says it would take over Nasdaq stock quote system

By John McCrank NEW YORK (Reuters) - NYSE Euronext offered on Wednesday to take over the data processor at the center of the massive Nasdaq trading outage last August after Nasdaq OMX Group Inc <NDAQ.O> indicated it would stop running it. NYSE Euronext "would be happy to" run the Nasdaq securities information processor (SIP) that provides investors with stock quotes and last sale prices, Duncan Niederauer, chief executive of NYSE Euronext, told CNBC on Wednesday.

Exclusive: Nasdaq pushes to speed up talks over market fixes

By John McCrank NEW YORK (Reuters) - Nasdaq OMX Group is prepared to walk away from running the data processor that was at the center of a three-hour trading halt in August, in a sign of its frustration with the pace of talks over implementing fixes for the system, according to documents seen by Reuters. The fairness and transparency of the U.S. equity markets depends in part on three "securities information processors" (SIPs) that provide investors with the same stock quotes and last sale prices, across venues.

Photographer sued over topless photo atop Empire State Building

By Marina Lopes NEW YORK (Reuters) - The management of the Empire State Building on Monday filed a $1 million lawsuit against a photographer who shot topless pictures of model atop its iconic 86th floor observatory. Last August, a model climbed to the crowded observation deck and took her top off as 30-year-old photographer Allen Henson captured the image on his cell phone.

Macy's to cut 2,500 jobs in reorganization

US department store giant Macy's said Wednesday it will eliminate 2,500 jobs as a cost-cutting move, equivalent to about 1.4 percent of its workforce. The move is part of an initiative to "sustain profitable sales growth in the years ahead," Macy's said in a statement after the close of the market. "We have identified some specific areas where we can improve our efficiency without compromising our effectiveness in serving the evolving needs of our customers," said Macy's chief executive Terry Lundgren.
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