SEC approves plan for lost Facebook IPO money
(Reuters) – Regulators on Monday approved a plan to compensate market makers who lost money in a botched Facebook Inc public offering in May on the Nasdaq exchange. Nasdaq, a unit of Nasdaq OMX Group Inc, has proposed a revised $62 million settlement to those brokerages that lost money. The decision from the U.S. Securities [...]
Dell confirms offers from Blackstone, Icahn
By Jessica Toonkel and Paritosh Bansal (Reuters) – A special committee of Dell Inc’s board is evaluating separate takeover proposals from Blackstone Group and billionaire investor Carl Icahn to decide whether either or both are likely to trump an existing $24.4 billion take-private deal, a source familiar with the discussions said on Sunday. Icahn and [...]
European shares rise after Cyprus bailout deal
By David Brett LONDON (Reuters) – European shares rebounded and safe-haven German government bonds fell early on Monday after Cyprus clinched a last-ditch deal with lenders to bail out the debt-ridden island and avert a collapse of its banking system. In the early hours of Monday morning Cypriot policy-makers agreed a deal with the European [...]
Europe sets Cyprus bailout deadline, banks face cutoff
By Michele Kambas and Lidia Kelly NICOSIA/MOSCOW (Reuters) – The European Central Bank gave Cyprus until Monday to raise billions of euros to clinch an international bailout or face losing emergency funds for its crippled banks and inevitable collapse. The warning came with the island’s leaders locked in talks on a “Plan B” to raise [...]
Britain’s growth halved, Osborne turns to Bank of England for help
By William Schomberg and David Milliken LONDON (Reuters) – British finance minister George Osborne turned to the Bank of England on Wednesday to do more to help spur the country’s stagnant economy as he announced a halving of this year’s growth forecast. In an annual budget statement peppered with cat-calls from opposition politicians, Osborne said [...]
Microsoft backs review of foreign bribery allegations
SEATTLE (Reuters) – Microsoft Corp said on Tuesday that allegations of potential bribery by employees in China, Romania and Italy should be reviewed by U.S. agencies and its own compliance unit, but declined to address the specifics of any cases. The software giant’s comments came after the Wall Street Journal reported that the U.S. Department [...]
Foreigners pile into Canadian corporate debt in January
OTTAWA (Reuters) – Foreigners resumed their net purchases of Canadian securities in January, making their largest acquisitions of private corporate debt instruments since October 2001, Statistics Canada reported on Monday. Investment in Canadian securities stood at a four-month high of C$13.34 billion ($13.08 billion), after net sales by foreigners of C$1.92 billion in December. “Non-resident [...]
Solid U.S. retail sales bolster economic outlook
By Lucia Mutikani WASHINGTON (Reuters) – Retail sales expanded at their fastest clip in five months in February, the latest sign of momentum for an economy facing headwinds from higher taxes and pricier gasoline. The solid sales last month comes on the heels of strong gains in employment and manufacturing. But the improvement in the [...]
Air Canada shares jump after pension extension
TORONTO (Reuters) – Air Canada shares rose as much as 7.4 percent on Wednesday after it won a seven-year extension a day earlier for the cap on special payments to erase its sizeable pension fund deficit. The more heavily traded class B shares rose as much as C$2.76, before paring gains to trade at C$2.68, [...]