Greece may be flirting with reviving the drachma, but attempting a return to the currency Athens left behind would have tragic results, Goldman said.» Read More
Bank of America Corp. rose$. 03 or. 2 percent, to $16.04. Citigroup Inc. rose$. 24 or. 4 percent, to $53.73. Goldman Sachs fell$. 52 or. 3 percent, to $191.27.
*Sale a major step in Citi's plan to sell unwanted assets. Springleaf shares touch record high, Citi marginally higher. March 3- Springleaf Holdings Inc said it would buy Citigroup Inc's OneMain Financial Holdings Inc for $4.25 billion in cash, creating the largest subprime lender in the United States.
*Veolia falls after Groupama sells stake. LONDON, March 3- European stock markets slipped from multi-year highs on Tuesday, pegged back by falls in French environment company Veolia and British bank Barclays. Veolia fell 3 percent after insurer Groupama sold a 5.1 percent stake in the company.
*Best Buy climbs after results. *Citigroup to sell OneMain Financial to Springleaf Holdings. It's predicated on the fact that when you get up around new highs market participants tend to get a little vertigo, "said Art Hogan, chief market strategist at Wunderlich Securities in New York.
*Best Buy climbs in premarket after results. *Citigroup to sell OneMain Financial to Springleaf Holdings. "The market is naturally settling in, taking a breather until the scales tip either way to commence the next move to continued to new heights or a consolidated pullback," said Andre Bakhos, managing director at Janlyn Capital LLC in Bernardsville, New Jersey.
Some of the names on the move ahead of the open.
*Best Buy climbs in premarket after results. *Citigroup to sell OneMain Financial to Springleaf Holdings. *Electronics retailer Best Buy climbed 4.8 percent to $40.50 in premarket trade after it reported quarterly results, announced a special dividend and the resumption of its share repurchase plan.
March 3- Citigroup Inc said it has agreed to sell its consumer finance unit OneMain Financial Holdings Inc to subprime lender Springleaf Holdings Inc for $4.25 billion in cash. The consumer finance company is part of Citi Holdings, which Citigroup created during the financial crisis to park assets that it wanted to eventually divest or wind down.
*But high U.S., Middle East production maintains supply glut. *Asian economies benefit from cheap oil- ABN Amro. Front-month Brent futures were trading up $1 at $60.54 a barrel by 0632 GMT, just off the day's high of $60.74.
*But high U.S., Middle East production maintains supply glut. *Asian economies benefit from cheap oil- ABN Amro. "Brent crude prices attempting to rally on rapid week-on-week reduction in U.S.... rig count," Morgan Stanley said on in a note on Tuesday.
*High U.S. and Middle East production maintains supply glut. SINGAPORE, March 3- Brent crude oil prices steadied above $60 a barrel in early Asian trading on Tuesday, supported by traders entering the market after prices dropped sharply in the previous session on the back of record U.S. stocks. "Brent crude prices attempting to rally on rapid week-on-week...
LONDON- Bank of England's Paul Fisher speaks at the Economist's Insurance Summit 2015- 0910 GMT. LONDON- Bank of England's Anthony Habgood and Governor Mark Carney appears before Treasury Select Committee- Grabiner Report- 1000 GMT. LAKE FOREST, United States- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic conditions and...
A new scheme allowing short selling of Chinese stocks via the Hong Kong market has failed to attract a single order on its first day of operation.
Bank of America Corp. rose$. 20 or 1.3 percent, to $16.01. Citigroup Inc. rose $1.07 or 2.0 percent, to $53.49. Goldman Sachs rose $2.00 or 1.1 percent, to $191.79.
NEW YORK, March 2- E* Trade Financial Corp, the discount broker and bank that almost collapsed during the financial crisis, said on Monday it will retire $800 million of debt due in 2019 and issue $460 million of new eight-year notes at a lower interest rate. The debt restructuring cuts the company's outstanding debt Executives had publicly forecast they would...
Bank of America Corp. rose$. 12 or. 8 percent, to $15.93. Citigroup Inc. rose$. 85 or 1.6 percent, to $53.27. Goldman Sachs rose $1.03 or. 5 percent, to $190.82.
Belgium had two major banking failures, Fortis and Dexia. With the former, toxic assets were purchased for 11.7 billion euros by a separate vehicle Royal Park Investments, owned by Fortis, the Belgian state and BNP Paribas. Credit Suisse and Lone Star Funds bought RPI's assets for 6.7 billion euros in 2013. RPI is active now only in U.S. legal disputes.
Bank of America Corp. rose$. 01 or. 1 percent, to $15.83. Citigroup Inc. rose$. 37 or. 7 percent, to $52.79. Goldman Sachs rose$. 53 or. 3 percent, to $190.32.
NEW YORK, March 2- It may be by far the most valuable American company but Apple Inc still can't get into at least one exclusive club- the 30- member Dow Jones Industrial Average. That may not be a problem for the company behind the iPhone and the iPad, after all Apple shares recently hit record highs. If Apple had replaced a badly lagging stock such as IBM, which has...
NEW YORK, March 2- From its tower on Wall Street, Deutsche Bank enjoys a commanding view of lower Manhattan. That helped it close the global revenue gap with rivals like JP Morgan and Bank of America Merrill Lynch and put it within striking distance of No. 5- ranked Citigroup. It wants to take on U.S. investment banks on their turf and in February for example poached...