| | |
| Two top China film firms initiate process to list in Shanghai Monday, Nov 26, 2012 08:01 PM PST SHANGHAI (Reuters) - Two of China's most influential state-owned film companies, China Film Group and Shanghai Film Group, have submitted their applications to list on the Shanghai stock exchange, the country's securities regulator said. The plan comes as Beijing encourages domestic media and film firms to list in order to better compete with new media companies and privately invested film companies like Huayi Brothers Media Corp and Bona Film Group. China Film Group Corporation is the largest movie producer and distributor in China and the sole importer of foreign movies in the country. ... Full Story | Top |
| Goldman's vice chairman sells stock, options for $13.2 million Monday, Nov 26, 2012 07:55 PM PST (Reuters) - The vice chairman of Goldman Sachs Group Inc , J. Michael Evans, sold shares and exercised stock options that fetched about $13.2 million, according to a regulatory filing on Monday. The stock and option sales by Evans comes after Goldman completed most of a cost-saving program that aims to reduce annual expenses by $1.9 billion by cutting staff and other non-compensation expenses. Evans exercised 65,408 options granted 10 years ago, which were set to expire this month, and separately sold 90,000 shares, according to a filing made with the U.S. ... Full Story | Top |
| Britain favors credentials over countrymen for BoE's top job Monday, Nov 26, 2012 07:32 PM PST NEW YORK (Reuters) - Britain's choice of a Canadian to run the Bank of England could usher central bankers into the realm of globe-trotting elites that dominate the top jobs in business and sports. When Bank of Canada Governor Mark Carney takes over the BoE next summer, as announced Monday, it will be the first time a foreigner has held the top position at a major national central bank. Britons are used to not worrying about nationality and embracing professional credentials instead, allowing foreigners to run their national soccer teams as well as top companies. ... Full Story | Top |
| Canada's Carney named as Bank of England chief Monday, Nov 26, 2012 07:32 PM PST  LONDON/OTTAWA (Reuters) - Britain named Canadian central bank chief Mark Carney on Monday to head the Bank of England, springing the surprise choice of a foreigner to push reform of its troubled financial system. A former Goldman Sachs investment banker who at the Bank of Canada guided the Canadian economy through the global economic crisis, Carney will succeed Mervyn King who retires in July. Carney, who already plays a leading role in setting global banking rules, defended his departure from Canada and signaled that bigger problems awaited him in London. ... Full Story | Top |
| Asian shares, euro rise on Greek debt deal Monday, Nov 26, 2012 07:04 PM PST  TOKYO (Reuters) - The euro hit a one-month high and Asian shares climbed for a seventh consecutive day on Tuesday while commodities rose and the dollar eased after a deal on new debt targets for Greece and a political agreement on disbursing the next installment of aid. After 12 hours of talks at their third meeting in as many weeks, Greece's international lenders agreed on a package of measures to cut Greek debt to 124 percent of gross domestic product by 2020, and pledged to take further steps to lower the debt below 110 percent of GDP in 2022. ... Full Story | Top |
| MF Global customers to seek subpoenas for Corzine, others Monday, Nov 26, 2012 06:34 PM PST  NEW YORK (Reuters) - A group of former MF Global customers on Monday asked a court for permission to subpoena the commodities broker's executives, including former CEO Jon Corzine, who was blamed in a congressional report this month for MF Global's collapse. The Commodity Customer Coalition, an advocate for trader customers who lost money when MF Global went under, is seeking to subpoena Corzine, Chief Financial Officer Henri Steenkamp, Chief Operating Officer Bradley Abelow and others, according to court papers filed in the U.S. Bankruptcy Court in Manhattan. ... Full Story | Top |
| ResCap creditors target cash from Ally asset sales: WSJ Monday, Nov 26, 2012 06:13 PM PST  (Reuters) - A group of creditors of Ally Financial Inc's mortgage subsidiary is laying claim to cash from Ally asset sales that was intended to help repay the U.S. government, which funded a $17.2 billion bailout of the financing firm, the Wall Street Journal reported. The creditors of mortgage firm Residential Capital LLC (ResCap) are eyeing more than $9 billion that Ally plans to collect from sales of its international operations, the business daily said. Ally, which is 74 percent owned by the U.S. ... Full Story | Top |
| GM takes cue from Apple to address in-vehicle tech glitches Monday, Nov 26, 2012 05:31 PM PST  AUSTIN (Reuters) - General Motors Co rolling out its own version of Apple Inc's Genius Bar to prevent frustration over its in-car technology from driving away potential customers. Touch-screen and voice-activated entertainment and navigation systems play a pivotal role in attracting car shoppers, but so far companies, including GM, have struggled to make their systems intuitive and effective. GM believes the real problem stems from the lack of training provided to new drivers. As a result, the No. 1 U.S. automaker is dispatching 25 tech-savvy specialists to its 4,400 U.S. ... Full Story | Top |
| Credit Suisse to axe 100 UK jobs: FT Monday, Nov 26, 2012 05:26 PM PST  LONDON (Reuters) - Credit Suisse will cut about 100 investment banking jobs in Britain as part of its restructuring plans designed to find 4 billion Swiss francs ($4.31 billion) of savings by 2015, the Financial Times reported on Tuesday. The newspaper, citing a person familiar with the situation, said the job losses will occur over the next 90 days, mainly affecting the investment bank's equities, fixed income and advisory businesses. ... Full Story | Top |
| Schapiro stepping down at SEC, Walter to step in Monday, Nov 26, 2012 05:23 PM PST  WASHINGTON (Reuters) - The head of the U.S. Securities and Exchange Commission, Mary Schapiro, will step down next month after a tumultuous four years spent rehabilitating the agency's battered reputation, handing the reins temporarily to a close ally. SEC Commissioner Elisse Walter, a career regulator who has sided with Schapiro on most of the critical issues before the agency, was named chairman-designate and could serve until December 2013, buying time for President Barack Obama to win Senate approval for a long-term replacement. ... Full Story | Top |
| New SEC head faces fights on several fronts, legal straitjacket Monday, Nov 26, 2012 05:23 PM PST BOSTON (Reuters) - Mary Schapiro's successor as head of the U.S. Securities and Exchange Commission is going to have to hit the ground running. With an ongoing battle over regulating the $2.5 trillion money market fund industry, some 63 unfinished rule makings required by the 2010 Dodd-Frank Wall Street reform law and continuing fears about market stability and high frequency trading, the new top securities regulator will have a lengthy list of critical issues to address on day one. And it will all have to be done under prickly circumstances. ... Full Story | Top |
| Revenge of the nerds as banks see risk, compliance hiring boom Monday, Nov 26, 2012 04:51 PM PST SINGAPORE (Reuters) - Tough regulations aimed at banks have jolted demand for compliance, risk and legal officers, creating one of the few bright spots in an otherwise dismal job market for the financial industry. Traditionally one of the least glamorous jobs in the sector, these staff are in hot demand at a time when nearly all other parts of the banking industry are getting cut. ... Full Story | Top |
| Ex Deutsche Bank CEO criticizes successor for skipping hearing Monday, Nov 26, 2012 04:03 PM PST  FRANKFURT (Reuters) - The former head of Germany's Deutsche Bank Josef Ackermann criticized his successor Anshu Jain on Monday for not agreeing to appear at a German parliamentary hearing this week on Libor manipulation. Politicians have already accused Indian-born Jain, who became co-head of Germany's largest bank in June, of "chickening out" by sending his chief compliance officer in his place. "I always took these tasks upon myself," Ackermann said at a conference organized by business daily Handelsblatt in Frankfurt. ... Full Story | Top |
| Canada's SNC says Swiss police likely reviewing payments Monday, Nov 26, 2012 03:14 PM PST TORONTO (Reuters) - Canada's SNC-Lavalin Group Inc said on Monday that Swiss police were likely reviewing payments made to two companies it had retained for projects in Libya between 2001 and 2011 as part of a broader investigation into a former SNC executive. Canada's largest publicly traded engineering and construction company said it could not confirm media reports that a former SNC vice president, Riadh Ben Aissa, had been indicted on allegations that he had laundered money in connection with $139 million in payments by SNC. ... Full Story | Top |
| Ex-SAC manager granted $5 million bail in trading case Monday, Nov 26, 2012 02:44 PM PST  NEW YORK (Reuters) - A former SAC Capital portfolio manager was released on $5 million bail on Monday after making his first appearance in a New York court on charges of making illegal trades that hedge fund titan Steven A. Cohen personally signed off on. Mathew Martoma, 38, of Boca Raton, Florida, was charged last week in what U.S. prosecutors called "the most lucrative" insider-trading scheme ever. Martoma was accused of helping Cohen's firm avoid losses and reap profits totaling $276 million in the summer of 2008 by using insider tips he obtained from a doctor about Elan Corp and Wyeth LLC. ... Full Story | Top |
|
No comments:
Post a Comment