The pressure is on for those earnings to support the market's current valuations, after weeks of choppy trading.» Read More
Nov 20- Private equity firm Silver Lake has hired JPMorgan Chase& Co, Barclays Plc and Morgan Stanley to lead a potential initial public offering of Mercury Payment Systems LLC, according to people familiar with the matter. JPMorgan, Barclays and Morgan Stanley declined to comment.
*Royal Mail shares up as much as 80 pct since sale. LONDON, Nov 20- Goldman Sachs and UBS bankers said Britain could not have sold the Royal Mail postal service at its current higher price, rejecting accusations that one of the biggest privatisations in years had short-changed taxpayers.
LONDON, Nov 20- Goldman Sachs and UBS bankers on Wednesday insisted Britain could not have sold the Royal Mail postal service at its current higher price, rejecting accusations that one of the biggest state sell-offs in years was done on the cheap.
Happy Wednesday. What would you do with $13 billion?
The ebbing economic tide from the Great Recession revealed some of the worst swindles in municipal finance in decades.
*JPMorgan says did not admit to violating any laws. NEW YORK/ WASHINGTON, Nov 19- In late September, JPMorgan Chief Executive Jamie Dimon walked into the office of U.S.
Nov 19- U.S. consumers who suffered through the mortgage crisis- and even those who experienced losses from Superstorm Sandy- could benefit from the record $13 billion settlement with JPMorgan Chase& Co. But they should not expect a windfall, consumer advocates say.
Companies making headlines after the bell Tuesday:
U.S. stocks tallied modest declines on Tuesday as investors wait to hear from the Federal Reserve in weighing central-bank monetary moves ahead.
NEW YORK, Nov 19- A U.S. appeals court on Tuesday questioned the convictions of three former banking executives at a unit of General Electric Co for being involved in a conspiracy to rig bids for contracts to invest municipal bond proceeds.
WASHINGTON/ NEW YORK, Nov 19- JPMorgan Chase& Co admitted it regularly overstated the quality of mortgages it sold to investors and agreed to pay a record $13 billion to resolve related charges, federal officials said on Tuesday.
JPMorgan Chase will pay $13 billion in a long-awaited deal with the Justice Department to settle claims over the financial crisis.
New York- based JLL will merge the DSM business with that of Toronto- based drug maker Patheon Inc, forming a joint venture boasting some $2 billion in annual sales that the companies said on Tuesday will be a leader in manufacturing medicines for pharmaceutical companies.
*IPO seen raising more than $1 billion. *Sberbank, Goldman likely to work on deal- sources. MOSCOW/ DUESSELDORF, Nov 19- Europe's fourth-biggest retailer Metro AG is considering a stock market listing of a minority stake in its Russian unit to help fund its expansion, the company said on Tuesday, confirming an earlier Reuters story.
NEW YORK, Nov 19- PharMEDium Services LLC, a venture capital-backed provider of pharmacy compounding services to hospitals, is in discussions to sell itself for close to $1 billion, according to people familiar with the matter.
Nov 19- Medtronic Inc reported higher quarterly earnings on Tuesday as stronger sales of its implantable devices to treat abnormal heart rhythms offset weakness in its spinal products business.
WASHINGTON/ NEW YORK, Nov 19- JPMorgan Chase& Co is expected to sign a $13 billion agreement with the U.S. government on Tuesday to settle claims it overstated the quality of mortgages sold to investors during the housing boom, two people familiar with the matter said.
WASHINGTON/ NEW YORK, Nov 19- JPMorgan Chase& Co is expected on Tuesday to sign a $13 billion deal with the U.S. government to settle claims that the bank misrepresented the quality of the mortgages it sold to investors during the housing boom, two people familiar with the matter said.
As the US threatened to default on its debt, banks spent millions of dollars on contingency planning and even prepared to underwrite federal benefits.
*IPO seen raising more than $1 billion. MOSCOW/ DUESSELDORF, Nov 19- Europe's fourth biggest retailer Metro AG is talking to banks about an initial public offering of its Russian unit, sources told Reuters on Tuesday, as it restructures its portfolio to cut its 6.3 billion euros in net debt.