India stocks have sped ahead, rallying more than 23 percent so far this year, but Goldman Sachs sees a potential speed bump from looming share sales.» Read More
Rupert Murdoch’s audacious offer for Time Warner that if it succeeds would cement his status as the most powerful U.S. media magnate.
*Wall Street lags central bank's rate-rise expectations. SAN FRANCISCO/ NEW YORK, July 17- Investors may be ignoring subtle warnings from the Federal Reserve that a rate rise may come sooner than they think, setting the stage for another painful market contraction much like last year's "taper tantrum."
LONDON, July 17- The chief executive of corporate finance firm Perella Weinberg is to join the board of peer-to-peer loan company Funding Circle, in a major coup for the small business lender as it builds up its U.S. presence.
NEW YORK, July 16- Rupert Murdoch's Twenty-First Century Fox Inc made an audacious offer for Time Warner Inc that if it succeeds would transform the American media landscape and cement the 83- year-old's status as the most powerful magnate in U.S. media and entertainment.
NEW YORK, July 16- Time Warner Inc's board, in rejecting 21st Century Fox Inc's $80 billion bid, insisted the offer undervalued the media conglomerate and raised fears about the dominating role that Rupert Murdoch's family would play, a person close to the situation said on Wednesday.
TORONTO/ VANCOUVER, July 16- Barrick Gold Corp said on Wednesday its chief executive officer will step down in September and not be replaced, concentrating power in the hands of the miner's new executive chairman, John Thornton. The world's biggest gold miner appointed two co-presidents to help run the company after Jamie Sokalsky's departure as CEO.
For the first time in recent memory, financials investors are judging bank earnings by Main Street borrowing versus Wall Street trading.
Bank of America Corp. fell$. 31 or 1.9 percent, to $15.51. Citigroup Inc. rose$. 43 or. 9 percent, to $49.72. Goldman Sachs rose $1.70 or 1.0 percent, to $170.87.
*Time Warner shares up 16.9 percent. NEW YORK, July 16- Rupert Murdoch's 21st Century Fox Inc said on Wednesday that Time Warner Inc had rebuffed its offer to buy the company, but people familiar with his thinking say he is determined to bring the U.S. media conglomerate into his empire.
**September 2012: Agrees to pay $2.43 billion to settle claims it hid crucial information from shareholders when it bought investment bank Merrill Lynch& Co at the height of the financial crisis.
European shares extended gains to close higher on Wednesday, as investors reacted to fresh growth data from China.
Bank of America Corp. fell$. 34 or 2.2 percent, to $15.47. Citigroup Inc. rose$. 14 or. 3 percent, to $49.43. Goldman Sachs rose $1.59 or. 9 percent, to $170.76.
NEW YORK, July 16- Even fund managers' best ideas are not working out this year.
Media group 21st Century Fox confirmed that it made an offer to acquire peer Time Warner, but Time Warner rebuffed the offer.
*Murdoch may consider higher offer for Time Warner- sources. NEW YORK, July 16- Rupert Murdoch's 21st Century Fox Inc said on Wednesday it had offered to buy Time Warner Inc, a move that would unite two of the world's most powerful media conglomerates, but Time Warner rebuffed its offer.
Mortgage revenue fell and litigation costs increased for Bank of America in the second quarter.
*Murdoch determined to pursue Time Warner- NYT. July 16- Rupert Murdoch's 21st Century Fox said it made a bid to buy media conglomerate Time Warner Inc but was rebuffed. Time Warner's stock jumped 22.5 percent to $87 premarket as the New York Times reported that Murdoch was determined to buy Time Warner and was unlikely to walk away despite the rejection.
U.S. stock index futures pointed to a higher open on Wall Street ahead of Fed Chair Janet Yellen's second day of testimony.
Twenty-First Century Fox made an $80 billion takeover bid in recent weeks for Time Warner but was rebuffed, sources said. The New York Times reports.
Asian stocks were mixed in choppy trade on Wednesday despite better-than-expected growth data from China.