The FDIC sued 16 of the world's largest banks on Friday, accusing them of collusively suppressing interest rates, Reuters reported.» Read More
LONDON, March 13- Capital flight from Russia has risen sharply since the start of this year to $45- $50 billion, Goldman Sachs said on Thursday, predicting full-year outflows could be as much as $130 billion, or double 2013 levels.
*Goldman Sachs, JP Morgan, Citigroup, Morgan Stanley are lead underwriters. March 13- General Electric Co's credit card unit filed for an initial public offering, the first step in the conglomerate's planned exit from the retail finance business.
*Goldman Sachs, JP Morgan, Citigroup, Morgan Stanley are lead underwriters. Synchrony Financial filed a $100 million placeholder with the U.S. Securities and Exchange Commission on Thursday and GE said it expects to complete the IPO later this year. Goldman Sachs& Co, JP Morgan, Citigroup and Morgan Stanley are lead underwriters for the IPO, according to the filing.
March 13- General Electric Co's North American retail finance business filed with U.S. regulators to raise up to $100 million in an initial public offering of common stock. The business will operate under a new name, Synchrony Financial, GE said in a statement.
J.C. Penney is about to undo the centerpiece of former Chief Executive Officer Ron Johnson's failed vision to take the retailer upmarket.
COPENHAGEN, March 13- Shares in Danish outsourcing company ISS jumped by more than 15 percent from the offer price after they returned to the Copenhagen stock market on Thursday.
March 13- J.C. Penney Co Inc is about to undo the centerpiece of former Chief Executive Officer Ron Johnson's failed vision to take the retailer upmarket. The retailer wants to recapture former clients and go head to head with rivals like Target Corp and Kohl's Corp..
March 12- Citigroup Inc has reduced the annual compensation of high-ranking executive Manuel Medina-Mora following problems with controls against money laundering at the Mexico subsidiary he oversees.
March 12- Citigroup Inc has reduced the annual compensation high-ranking executive Manuel Medina-Mora following problems with controls at the Mexico subsidiary he oversees. Medina-Mora, 63 and co-president of Citigroup, was paid $9.5 million in total compensation for 2013, according to a proxy statement filed by the company on Wednesday.
PERTH, March 13- If Australian miners are worried about the dramatic decline in iron ore prices, it doesn't show. "Iron ore mining isn't tennis, it's a contact sport," said David Flanagan, chairman of Atlas Iron Ltd. "Sometimes it hurts a bit, like you copped it in the stomach.
SAO PAULO, March 12- The hiring of three top bankers of BR Partners Banco do Investimento SA by New York- based Moelis& Co LLC was "improper and unethical," Ricardo Lacerda, chief executive officer of the Brazilian investment bank, said on Wednesday, adding that BR Partners is considering possible action.
Pushing Fannie and Freddie private is a good thing for investors — and GDP growth. Why should the government stop there?, asks Michael Yoshikami.
*No disruption from political tension in Ukraine. LONDON, March 12- Ukraine- focused iron ore miner Ferrexpo announced its second special dividend in as many years after it posted increased annual profit and said it is on track to boost production this year.
*No disruption from political tension in Ukraine. LONDON, March 12- Ukraine- focused iron ore miner Ferrexpo said it is on track to complete its expansion programme as it posted an increase in annual earnings, helped by higher iron ore output offsetting weaker prices for the steelmaking ingredient.
MOSCOW, March 12- Russia's central bank will probably keep key policy rates on hold at its regular meeting on Friday, economists say, but any escalation of tensions over Ukraine could prompt a further tightening in monetary policy.
*Wheat rebounds on concerns about U.S. crop, Ukraine. CHICAGO, March 11- U.S. wheat futures rallied 2.9 percent to their highest level in more than four months on Tuesday, supported by concerns that political unrest in Ukraine will disrupt exports and worries about dry soils limiting U.S. production, traders said.
SAO PAULO, March 11- Moelis& Co LLC, the financial firm founded by banker Ken Moelis, opened an office in Brazil on Tuesday, the latest move by an independent investment bank into the merger and acquisitions business in Latin America's biggest economy.
*Cocoa underpinned by expected 2013/ 14 global deficit. NEW YORK/ LONDON, March 11- Arabica futures extended their steep rally on Tuesday, touching a two-year high as parts of top grower Brazil's coffee belt failed to receive enough rain, while robusta rose to a one-year high.
FRANKFURT, March 11- The European Central Bank will press euro zone banks to revalue their assets and take a more realistic view on likely losses when it probes their balance sheets in the coming months, signalling a new, more aggressive era of banking supervision.
*J.C. Penney jumps after Citi upgrade. *Copper prices fall to lowest since July 2010. "When you get a slow data week, markets tend to get a little jittery and slow," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.