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Andrew Sheng, Chief Advisor at China Banking Regulatory Commission discusses the state of China's banking sector, saying the industry continues to grow despite the nation's shadow banking practices.
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LITTLE ROCK, Ark.-- The Arkansas House delayed a vote on a proposal to provide a company with $125 million in state financing to help build a new steel mill in northeastern Arkansas. The legislation would authorize Arkansas to issue bonds to provide a loan and pay some of the construction costs of the $1.1 billion steel mill.
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NEW YORK-- Israeli technology company Radware is lowering its first-quarter earnings and revenue forecasts due to weaker-than-expected sales in China and Europe, the Middle East and Africa. Radware Ltd. said that it now expects adjusted earnings of 30 cents per share, down from its prior guidance of 40 cents to 43 cents per share.
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BERLIN, April 5- German Finance Minister Wolfgang Schaeuble said on Friday he was glad the identities of thousands of holders of bank accounts in tax havens had been leaked because it would help do away with a business model that Cyprus had shown was flawed.
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Andrew Sheng, Chief Advisor at China Banking Regulatory Commission discusses the state of China's banking sector, saying the industry continues to grow despite the nation's shadow banking practices.
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Two senior executives at Bank of Cyprus may have deleted crucial e-mail documents last year, according to an investigative report commissioned by the central bank of Cyprus, the NYT reports.
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NEW YORK-- Southwest Airlines Co. said Thursday that it obtained a $1 billion, 5- year revolving credit arrangement this week. Southwest said that rates will be based on either the London interbank offered rate, known as Libor; or the highest of the prime rate, the 1- month Libor plus 1 percent, or the federal funds effective rate plus 0.5 percent.
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SEOUL, April 5- Samsung Electronics Co Ltd estimated its January-March operating profit rose 53 percent to 8.7 trillion won as sales of mid-tier smartphones helped the South Korean giant tide over the off-peak season. Following are reactions from analysts and fund managers:. SONG MYUNG-SUB, ANALYST AT HI INVESTMENT& SECURITIES.
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The Galaxy S and Note series have fuelled Samsung's record-breaking earnings growth and made it the No.2 player in the global premium smartphone segment after Apple Inc. But as the high-end market swarms with new offerings, Samsung is turning to less affluent customers in emerging markets, offering cheaper models such as the Rex and Galaxy Pop, analysts said.
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SEOUL, April 5- Samsung Electronics Co Ltd estimated its January-March operating profit rose 53 percent to 8.7 trillion won as sales of mid-tier smartphones helped the South Korean giant tide over the off-peak season.
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April 4- Rivals NYSE Euronext and Nasdaq OMX Group Inc both claim that to have listed the most global initial public offerings during the first quarter of 2013, while Thomson Reuters' data shows the two exchange operators as being tied.
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WINSTON-SALEM, N.C.-- Clothing maker HanesBrands said Friday that it will begin paying a quarterly dividend in June. HanesBrands said that it will pay a dividend of 20 cents per share on June 3 to shareholders of record as of May 20. The company also Thursday that it expects to earn 48 to 51 cents per share for its first quarter on revenue of $945 million.
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NEW YORK-- F5 Networks Inc. said Thursday that its second-quarter net income and revenue will fall short of its expectations, primarily because of disappointing results from its North American business. The Seattle company's stock tumbled $13.77, or 15.2 percent, to $76.65 in after-hours trading.
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NEW YORK, April 4- For a business whose main products fetch record prices, the financial services industry sure is firing a lot of people. That combination may illustrate why finance is a sector you want to own, very possibly for the long haul. Financial conditions are bank friendly; The stock market is at or near all-time records and demand for risky bonds is high.
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A lumbering U.S. economy is not growing fast enough to create jobs, billionaire investor Wilbur Ross told CNBC on Thursday.
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*Portugal Telecom, Veolia risk future cuts- M.Stanley. "A dividend cut is usually a positive inflection point for share prices," said Morgan Stanley equity strategist Hanyi Lim. Lim said Morgan Stanley's research showed that companies which cut dividends by 90 percent or more outperformed by 48 percent over the next two years.
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FRANKFURT, April 4- The European Central Bank put the blame for initial market turmoil over Cyprus's bailout squarely on the island's government on Thursday and pledged that taxing depositors would not become normal procedure.
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Private equity firms TPG Capital and Madison Dearborn Partners are the two finalists bidding for National Financial Partners, a New York- based wealth management company, people familiar with the matter said.
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A group of shareholders in Royal Bank of Scotland has launched a multi-million pound lawsuit against the state-owned bank for misleading investors at the height of the credit crisis in 2008.
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HOUSTON-- Crest Financial Ltd., the largest minority shareholder of Clearwire Corp., is offering the wireless operator $240 million in debt financing, which would free it up to consider options beyond a takeover offer from Sprint Nextel Corp..