Deutsche Bank pulled the plug on its global commodities trading business, cutting 200 jobs as it becomes the first major bank to exit the sector.» Read More
FRANKFURT, Dec 3- Swiss drugmaker Novartis is ready to sell its animal health subsidiary and has opened its books to Bayer and other rivals interested in a business that could change hands for more than 3 billion euros, sources familiar with the matter told Reuters.
Some of the names on the move ahead of the open.
Bank of America Corp. fell$. 09 or. 6 percent, to $15.73. Citigroup Inc. fell$. 30 or. 6 percent, to $52.62. Goldman Sachs rose$. 78 or. 5 percent, to $169.72.
Federal Reserve on Monday said it approved new capital plans by Goldman Sachs and JPMorgan Chase, after initially ordering the banks to fix flaws in their capital planning processes. In March, the Fed said Goldman and JPMorgan could move forward with plans to buy back shares and pay dividends.
Check out which companies are making headlines after the bell Monday:
*Blackstone not selling shares; to retain 76.2 pct stake. Dec 2- Hilton Worldwide Inc said its initial public offering would raise up to $2.37 billion in the biggest-ever hotel IPO, more than doubling Blackstone Group's investment. Blackstone has invested about $6.8 billion in Hilton and its 76.2 percent stake after the IPO will be worth up to $15.7 billion.
Hilton said its IPO would raise up to $2.37 billion, in what would be the biggest-ever hotel IPO and perhaps the second-biggest IPO of the year.
*Deutsche, Goldman Sachs, BofA and Morgan Stanley lead underwriters. Dec 2- Hilton Worldwide Inc said its initial public offering would raise up to $2.37 billion, in what would be the biggest-ever hotel IPO and perhaps the second-biggest IPO of the year.
*Iran, Libya, Nigeria, Iraq all below capacity. Iran, Libya, Nigeria and Iraq of the 12- member group account for a large proportion of global supply outages that total some 3.6 million barrels per day on the 90 million bpd world market.
Dec 2- Food services provider Aramark Holdings Corp said it expects to price its initial public offering at between $20 and $23 per share, valuing the company at about $5.3 billion. Aramark was taken private in 2006 for $8.3 billion by chairman Joseph Neubauer and private equity investors including GS Capital Partners, JP Morgan Partners and Warburg Pincus.
Dec 2- Hotel operator Hilton Worldwide Inc, controlled by private equity firm Blackstone Group LP, said its initial public offering would raise up to $2.37 billion, valuing the company at about $20.7 billion.
HONG KONG, Dec 2- A recruitment firm looking to track down Asia's most highly prized investment bankers would normally begin searching in their natural habitat- Hong Kong.
Investors and Wall Street strategists who follow retail sales provided Reuters with some guidelines to avoid being confused by the deluge of data. They say that it is best to measure or forecast sales over a three-month period- from November to the end of January- rather than just a few days or a few weeks around Thanksgiving or heading into Christmas.
The retail industry looms large in this week's market winners and losers, and considering it's Black Friday, no surprise there.
*TeliaSonera falls after firing 4 senior managers. *Experian knocked by Goldman downgrade. LONDON, Nov 29- Banking stocks were among the best-performing shares in Europe on Friday in otherwise subdued trade although some investors were still betting on a year-end rally.
Last month, Blumont Group Ltd, Asiasons Capital Ltd and LionGold Corp Ltd- three firms interlinked by cross shareholdings and common officers- lost a combined market value of about S $8 billion in just three days of trading.
*TeliaSonera falls after firing 4 senior managers. *Experian knocked by Goldman downgrade. LONDON, Nov 29- Banks were the top gainers as November ended in subdued fashion with European stocks inching higher, and some investors bet on a rally to see in the year-end.
LONDON, Nov 29- More than 3,500 bankers in Europe earned 1 million euros or more last year after a big jump across the continent and in Britain, which had 12 times as many high earners as any other country.
NEW DELHI, Nov 29- An expansion in farm output and some infrastructure helped India's economy recover slightly in the September quarter, but growth still hovered close to decade lows, tempering hopes of a sustained rebound ahead of elections due next year.
LONDON, Nov 29- More than 3,500 bankers in Europe earned 1 million euros or more last year after a big jump across the continent and in Britain, which had 12 times as many high earners as any other country. The latest data from the European Banking Authority shows that 3,529 bankers in the EU earned at least 1 million euros in 2012, up 11 percent in 2011..