FAMAGUSTA, Cyprus— Cyprus' largest bank says it has sold off its business in Ukraine and a stake in a Romanian bank to help reduce risk and improve cash flow for the troubled lender. Bank of Cyprus says it has completed the sale of its loss-making operations in Ukraine to Alfa Group for 202.5 million euros— 10 percent less than the original price.» Read More
NEW YORK— Goldman Sachs' earnings fell in the first quarter as bond trading slumped, but the results still came in ahead of what investors expected as other parts of the bank performed well. EARNINGS AND REVENUE: The bank earned $1.95 billion in the quarter, down 11 percent from $2.19 billion in the same period a year earlier.
April 17- Bain Capital LLC has raised $7.3 billion from investors and its dealmakers for its next flagship fund, people familiar with the matter said on Thursday, underscoring the favorable fundraising environment for established private equity firms.
*Bundesbank chief open in principle to QE, if it is needed. *Drop in inflation sees him open up to the idea. FRANKFURT, April 17- As recently as last November, Jens Weidmann steadfastly opposed any move by the European Central Bank to print money to buy assets and buoy the euro zone economy.
LONDON, April 17- The dollar fell against a basket of currencies on Thursday after Federal Reserve Chair Janet Yellen reiterated an accommodative monetary policy stance in comments.
*ROE in 2013 was 6.6 percent across top European quoted banks. *Bank ROE level about 40 pct of wider market returns. LONDON, April 17- Europe's largest banks are generating a poor return on their capital, well below their post-crisis targets, as muted credit growth slows their recovery and progress on costs is swallowed by unexpectedly high loan losses.
LONDON, April 17- Europe's 30 largest banks boosted return on equity to 6.6 percent last year but remain well behind their medium-term targets. *Credit Suisse cost/income is for core bank only. ****Standard Chartered figures are for normalised ROE.
*Earnings depress Google, IBM in after-hours trade. LONDON, April 17- European stocks dipped on Thursday as disappointing earnings from U.S. tech heavyweights Google and IBM dampened the previous session's upbeat tone on Wall Street, and the dollar weakened on dovish remarks from the Federal Reserve.
LONDON, April 17- The dollar fell against a basket of currencies on Thursday after Federal Reserve chief Janet Yellen reiterated an accommodative monetary policy stance in comments which gave the euro and the yen a lift.
WASHINGTON— President Barack Obama's full-throated defense of his health care overhaul seems perfectly timed for Democrats who want their party to embrace the law more enthusiastically. At a White House news conference Thursday, Obama noted that health insurance enrollments under the new law are higher than expected, and costs are lower.
TOKYO, April 17- Mitsui Life Insurance, Japan's fifth largest life insurer, plans to increase its yen bond holdings by about 100 billion yen in the financial year to March, its investment planning manager said on Thursday.
TOKYO, April 17- Sompo Japan Insurance and Nipponkoa Insurance, already run as one entity ahead of their merger in September, plan to invest "tens of billions of yen" in new areas such as energy, environment and infrastructure, mainly through private equity funds, company officials said.
TOKYO, April 17- Japan's Nikkei share average ended flat in choppy trade on Thursday as profit-taking from the previous day's large gains offset optimism that the U.S. Federal Reserve will keep interest rates low for an extended period.
April 17- The Federal Reserve indicated to Citigroup Inc that the bank would get more time to fix certain "stress test" planning problems before rejecting its capital plan last month, the Wall Street Journal reported, citing people close to the company.
TOKYO, April 17- Sompo Japan Insurance and Nipponkoa Insurance, already run as one entity ahead of their merger in September, plan to invest "tens of billions of yen" in new areas, such as energy, environment and infrastructure, mainly through private equity funds, company officials said.
TOKYO, April 17- Japan's Nikkei share average was flat in choppy trade on Thursday morning as profit-taking from the previous day's big gains offset strength in U.S. shares which rose on confidence that the Federal Reserve will keep the interest rates low.
SUNNYVALE, California— Yahoo co-founder David Filo is vying to rejoin the Internet company's board after an 18- year absence. The other nominees to the board are Charles Schwab, the founder of a stock brokerage that still bears his name, and H. Lee Scott Jr., the former CEO of Wal-Mart Stores Inc. Yahoo Inc. CEO Marissa Mayer is on Wal-Mart's board.
US stock indexes rise in pre-market trading on positive earnings from Pepsi, others Americans seeking weekly unemployment benefits rose to 304,000; still at pre-recession levels GE earnings lower because of NBC sale last year, outlook for economy positive PepsiCo quarterly profit beats expectations on stronger snack sales, cost cuts Goldman Sachs says first-quarter earnings fall 11 percent as fixed income trading slumps Mattel reports 1st quarter loss on weak sales of Barbie, weakness internationally Chipotle sales surge as more customers take a taste, but higher costs limit profit gains Target expands subscription service as it fends off Amazon.com in fight for online shoppers EU warns Russia of using gas supplies to Ukraine for political ends, urges stable supplies UnitedHealth's 1st- quarter profit tumbles 8 percent, insurer cites overhaul costs
American Express Co. rose $1.36 or 1.6 percent, to $87.40. Capital One Financial Corp. rose$. 64 or. 9 percent, to $75.16. Discover Financial Services rose $1.02 or 1.8 percent, to $56.52.
BofA Merrill Lynch, Citigroup and RBC Capital Markets are the underwriters to the IPO, the San Francisco- based company told the U.S. Securities and Exchange Commission in a preliminary prospectus. Zoosk is backed by venture capital firms including Canaan VIII LP, ATA Ventures and Bessemer Venture Partners.
*First-quarter net profit $1.96/ share vs est $1.69. April 16- Capital One Financial Corp's quarterly profit rose about 10 percent, beating estimates, as the credit card issuer set aside less money to cover soured loans.
Kelly King, BB&T chairman and CEO, reacts to the role mortgage lending played in its weak quarterly report. King says the current yield curve reflects a slow economy.
Brennan Hawken, UBS director of equity research, breaks down the quarterly earnings of Morgan Stanley and Goldman Sachs.
Kevin Kabat, Fifth Third Bancorp president & CEO, discusses the bank's quarterly earnings and the current regulatory environment in financials. Serving our customers is a key cog in helping move the economy forward, says Kabat.