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Corporate Finance Corporate Assets

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  • July 16- Citigroup Inc, the third biggest U.S. bank by assets, reported its highest quarterly profit since the financial crisis as Chief Executive Michael Corbat's restructuring and cost-cutting efforts paid off and the bank's legal expenses plunged. Under Corbat, who replaced Vikram Pandit as CEO in 2012, Citi has been selling retail operations in several...

  • BANKRUPTCY PROTECTION IN CONNECTICUT@ Connecticut@. Bankruptcy court for the district of Connecticut. *Lists assets of $10 million- $50 million and liabilities of $10 million- $50 million- court filing.

  • MANILA, July 9- Gold struggled to pull away from its lowest level in nearly four months on Thursday, with China's stock rout and the Greek debt saga failing to spark safe-haven demand. "Gold also hasn't reacted very well to what's happening in Greece. Gold typically benefits from political and economic uncertainty as investors seek safe-haven assets, but the...

  • Greeks spend in droves, afraid of losing savings Wednesday, 8 Jul 2015 | 8:24 PM ET
    People read the front pages of various newspapers hanging at a kiosk in central Athens, Greece, July 7, 2015.

    Greeks have been using their debit cards to buy anything tangible that can hold its value in troubled times. The New York Times reports.

  • LONDON, July 8- British finance minister George Osborne said on Wednesday he would reduce a bank levy charged on the assets of financial institutions and replace with it with a surcharge on bank profits. Europe's biggest bank, HSBC, has said the levy will be a factor in whether it decides to keep its headquarters in Britain. Britain's stock market index of banking...

  • NEW YORK, July 2- Investors pulled $3 billion in assets from Pacific Investment Management Co's flagship fund in June, compared with $2.7 billion the previous month, in another sign Pimco is stabilizing since last fall's departure of star manager Bill Gross. The Pimco Total Return Fund had cash withdrawals of $5.6 billion in April and $7.3 billion in March,...

  • Aussie fund sells $34M Kapstream stake to Janus Thursday, 2 Jul 2015 | 12:01 AM ET

    Australian investment manager Challenger said it sold its 25% stake in global fixed income fund manager Kapstream to Janus for $34.36 million.

  • NEW DELHI, June 25- India's state social security and pension fund, undeterred by trade union resistance, will start investing in equity markets next month, the labor minister said, part of a broader push by Prime Minister Narendra Modi to move away from socialist ways rooted in decades-old labor laws. With more than $100 billion of assets from some 80 million...

  • BRUSSELS, June 22- Greece took a step back from the abyss on Monday when it presented new reform proposals that euro zone finance ministers cautiously welcomed as a possible basis for an agreement in the coming days to avert a looming default. European stock markets and Greek assets leapt on hopes of a last-minute deal to ease a crisis that is threatening to drive...

  • WASHINGTON, June 21- Surging investment by Chinese companies in U.S. research labs is yielding a fast-growing trove of patents, part of a push to mine America for ideas to help China shift from being the world's factory floor to a driver of innovation. Even without a treaty, China is pouring capital into U.S. research as well as buying other assets.

  • Solving the riddle of weak late-day trading Monday, 15 Jun 2015 | 6:10 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Stocks have been weak during the last half-hour of trade. As it turns out, that's when the biggest buyers of this rally walk away.

  • LONDON, June 10- HSBC's investment bank could shed more than a fifth of its clients and plans to reduce its credit and interest rates businesses by $100 billion over the next two years in its bid to improve profitability. Under a strategic shift announced on Tuesday, HSBC said it will reduce the assets at its investment bank by a third, or $140 billion, which will...

  • June 9- Boomerang Tube LLC, a maker of pipes and tubes for oil and natural gas companies, filed for Chapter 11 bankruptcy protection on Tuesday, becoming the latest victim of the slide in oil prices. St. Louis, Missouri- based Boomerang Tube, which was bought by Access Tubulars LLC in 2008, said it had total assets of about $299 million and total liabilities of about...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. HSBC will cut its assets by a quarter, or $290 billion on a risk adjusted basis, by...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. It will cut its assets by a quarter, or $290 billion on a risk adjusted basis by 2017,...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC will shed almost 50,000 jobs and take an axe to its investment bank, cutting the assets of Europe's biggest lender by a quarter in a bid to simplify and improve its sluggish performance. The cuts will leave HSBC with about 208,000 full-time equivalent staff by 2017, down from...

  • *HSBC to cut risk weighted assets by $290 bln. HONG KONG, June 9- HSBC will cut almost 50,000 jobs from its payroll, take an axe to its investment bank and shrink its risk weighted assets by $290 billion in an effort to improve its sluggish performance, Europe's biggest bank said on Tuesday. However the cuts, to be completed by 2017, will be followed by some hiring in...

  • *HSBC to cut risk weighted assets by $290 bln. *HSBC targets growth in Asia insurance, Guangdong province. HONG KONG, June 9- HSBC will take an axe to its investment bank and seek to cut up to $5 billion in costs in an effort to improve its sluggish performance, Europe's biggest bank said on Tuesday.

  • HSBC update won't be earth-shattering: IDC Monday, 8 Jun 2015 | 11:42 PM ET
    HSBC update won't be earth-shattering: IDC

    Cyrus Daruwala, managing director, Asia Pacific at IDC Financial Insights, says HSBC will likely "take the safe route" at Tuesday's strategy meeting.

  • Iceland to ease capital controls imposed since crash Monday, 8 Jun 2015 | 11:59 AM ET
    Reykjavik downtown, Iceland

    Iceland is to introduce a 39 percent exit tax on assets from its failed banks, as part of moves to lift capital controls.