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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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ATLANTA-- Electronic payments processor Global Payments Inc. said Tuesday that its fiscal third quarter earnings rose nearly 4 percent on higher revenue, but the results still missed Wall Street estimates.
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ATLANTA-- Oxford Industries Inc.' s fiscal fourth-quarter profit fell about 25 percent, but its adjusted results showed a gain in profit with strength in its Tommy Bahama and Lily Pulitzer brands offsetting weakness of its Ben Sherman's business.
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WASHINGTON, April 2- Mortgage finance company Fannie Mae posted a record $7.6 billion in quarterly earnings, but it refrained from booking a tax-related gain that would have allowed the bailed-out company to repay as much as $59 billion to taxpayers. Treasury, to help pay back the roughly $117 billion that Fannie Mae owes taxpayers.
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Fannie Mae earned $17.2 billion last year, the biggest annual profit in the U.S. mortgage giant's history, driven by the housing recovery.
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NEW YORK-- Intelsat Global Holdings SA plans to raise as much as $542.5 million from its initial public offering of approximately 21.7 million shares of common stock. The company, which provides satellite services to businesses, said in a filing with the Securities and Exchange Commission that it anticipates pricing the IPO between $21 and $25 per share.
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NICOSIA, April 2- Cyprus's finance minister resigned on Tuesday after concluding a 10 billion euro bailout deal with international lenders in which the country slashed its dominant banking sector and hit depositors with losses.
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Celanese Corp. said that the accounting policy change took effect on Jan. 1 and was retroactively applied to 2012' s fourth quarter. The Dallas company said that due to the retroactive application, its 2012 earnings per share from continuing operations fell to $2.35 from $3.81 mostly because of a $389 million mark-to-market adjustment in the fourth quarter.
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*Cyprus eases some controls, most remain in place. *Cyprus concludes bailout talks with troika, aid to flow in May. Sarris, who was dispatched to Moscow last month but returned empty-handed as Cyprus sought Russian aid after rejecting a European bank levy proposal, said his main goal of agreeing a deal with lenders had been accomplished.
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An increase in the issuance of high-yielding bonds alongside leverage to purchase this debt has sparked renewed fears of a bubble in the credit markets, with one bank warning investors of the threats involved.
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OKLAHOMA CITY-- Continental Resources Inc. said Tuesday that it plans to sell $1 billion of new senior notes in a private offering. The Oklahoma City- based oil and gas producer said it plans to use the net proceeds from the offering to repay some of the debt under its revolving credit facility and for general corporate purposes.
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A Manhattan federal judge on Monday signaled he will not rubber-stamp Citigroup's proposed $590 million settlement of a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets.
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*MetroPCS shares close up more than 1 pct. April 1- MetroPCS Communications Inc urged shareholders to support its proposed merger with Deutsche Telekom AG's unit T-Mobile USA after two proxy advisory firms recommended that shareholders vote against it.
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LITTLE ROCK, Ark.-- Bank of the Ozarks Inc. said Monday it raised its quarterly dividend to 17 cents from 15 cents. The company's next dividend is payable April 19 to shareholders of record as of April 12. Bank of the Ozarks Inc. is the holding company for Bank of the Ozarks, a community bank that provides retail and commercial services.
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NEW YORK-- Taylor Morrison Home Corp. could raise about $504 million in its initial public offering of stock, the latest real estate-related deal as the housing market recovers. Taylor Morrison, which operates its namesake brand and Darling Homes in the U.S. and the Monarch brand in Canada, booked $1.44 billion in revenue last year and closed on 4,014 homes.
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Shares of electric car maker Tesla Motors jumped Monday after the company said sales are running ahead of schedule and it will post a first-quarter net profit.
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TOKYO, April 1- Japan's Nikkei share average fell to a three-week low on Monday as investors took profits in stocks such as exporters and financials that had gained in recent weeks on the back of a weaker yen and prospects of monetary easing. The index added 19.3 percent in January-March, marking its best quarterly performance since April- June 2009.
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TOKYO, April 1- Japan's Nikkei share average fell to a two-week low on Monday morning as investors took profit after the benchmark posted its best quarterly performance in nearly four years. But expectations that the Bank of Japan will unveil aggressive monetary policy measures this week to revive the world's third-largest economy limited the fall.
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*Daikin Industries came under pressure after Mizuho downgrade. TOKYO, April 1- Japan's Nikkei share average fell to a two-week low on Monday as investors took profit after the benchmark posted its best quarterly performance in nearly four years.
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Switzerland, Luxembourg, Malta and the Caymans are reminding those shaken by events in Cyprus that they remain open for business.
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March 30- Occidental Petroleum Corp chairman and former chief executive Ray Irani is pushing to replace the oil company's current CEO, Stephen Chazen, the Wall Street Journal reported on Saturday, citing "investors and people familiar with the company's operations."