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January 31, 2014
12:43 EDTFB, GE, JPM, GSGE picks Goldman, JPMorgan to lead IPO process for retail finance unit, FT says
General Electric (GE) has selected Goldman Sachs (GS) and JPMorgan (JPM) to lead the IPO process for its North American retail finance business, sources tell the Financial Times. Filing is expected in the next two months, the sources say, adding that this could be the largest U.S. IPO since Facebook (FB). Reference Link
News For GE;GS;JPM;FB From The Last 14 Days
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June 16, 2015
09:36 EDTFBActive equity options trading on open
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08:21 EDTGSJetBlue enters into agreement with Goldman to implement ASR program
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08:09 EDTGEGE's renewable energy business announces $25M investment from TerraForm
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07:11 EDTGS, JPMSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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06:56 EDTFBFacebook plans to build EUR200M data center in Meath, reports
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06:31 EDTFBBelgian Privacy Commission adopts first recommendation of principle on Facebook
The Belgian Privacy Commission said in a statement that on May 13 it adopted a first recommendation of principle on Facebook. "It has observed that Facebook 'processes' the personal data of its members, users as well as of all internet users who come into contact with Facebook. Facebook does this secretively: no consent is asked for this 'tracking and tracing' and the use of cookies. No targeted information is provided. The available information is vague and authorizes just about anything. Following the introduction of new worldwide terms of use by Facebook, a number of European privacy commissions queried Facebook, which was particularly sparing with precise answers and also refused to comply with the request to postpone the entry into force of the new terms of use. Facebook did not accept that it was bound by the national privacy legislation of Belgium, the Netherlands and Germany. It rejected the competence of those countries' supervisory authorities for privacy. Facebook only accepts supervision by the Irish privacy commission and the application of Irish law.After months of unsuccessful correspondence and fruitlessly exchanging ideas, the Belgian Privacy Commission has now adopted a first recommendation. This document establishes first of all that the Belgian Privacy Commission is competent and that Belgian law also applies to Facebook, simply because any national supervisory authority is obliged to ensure privacy protection for its citizens. And Belgian law also applies because the Facebook Group has an actual establishment in Brussels, Belgium. At the request of the Belgian Privacy Commission the inter-university research center EMSOC/SPION conducted a detailed study into the way in which Facebook deals with its members' personal data. And that of citizens who do not use Facebook or who explicitly opted out of its service.The research results are disconcerting. Facebook disregards European and Belgian privacy legislation in several ways. In 10 chapters an equal amount of issues have been uncovered. It is the Belgian Privacy Commission's ambition to thoroughly look into these issues. Until today, the eighth chapter - 'tracking trough social plug-ins' - has been the focus of attention, because it does not only impact Facebook users but also virtually every Internet user in Belgium and Europe. Up to this day Facebook refuses to recognize the application of Belgian legislation nor the Belgian Privacy Commission. Until now it has always contested the findings of the EMSOC/SPION research report, but it has not provided concrete facts repudiating them. To the contrary: Facebook recognizes that errors, 'BUGS' have been uncovered." Reference Link
06:19 EDTJPMJPMorgan, HSBC could move parts of businesses to Luxembourg, U.K. Times reports
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June 15, 2015
16:00 EDTFB, JPMOptions Update; June 15, 2015
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14:54 EDTGSGoldman Sachs to launch online consumer lending unit, NY Times says
Goldman Sachs (GS) plans to move into online consumer lending and hopes to launch a website and app next year, reports the New York Times, citing people briefed on the plans. Sources said the bank approached multiple top financial executives with offers to lead the project, which could have as many as 100 employees by year's end. The report notes that the lending business is "facing a shake-up," with small loans already being offered by LendingClub (LC), On Deck Capital (ONDK), and PayPal (PYPL) . Reference Link
14:11 EDTGEGE strains to find buyers for Australia finance businesses, NYT says
The financial division of General Electric, GE Capital, is finding it difficult to come up with interested parties in the firm's Australian commercial lending and leasing businesses, says the New York Times, citing people familiar with the matter. Reference Link
13:42 EDTGEDBA approves initial phase of Seahawk team's investment with Danish industry
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13:07 EDTFBFacebook announces Moments standalone app
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12:26 EDTFBLegal action taken by Belgian privacy entity against Facebook, Reuters says
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10:02 EDTGETextron signs LOI for sale of 20 Bell 525 Relentless helicopters
Bell Helicopter, a Textron (TXT) company, and Milestone Aviation Group, a GE Capital Aviation Services (GE) company, announced plans to move forward with a letter of intent to acquire 20 Bell 525 Relentless helicopters. These aircraft will serve a variety of roles with Milestone’s lessees around the world, including oil and gas, emergency medical service, search and rescue, and utility opportunities. Delivery of aircraft to Milestone is expected to begin in late 2017.
09:38 EDTFBActive equity options trading on open
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08:48 EDTFBFacebook poised to benefit from Internet ad growth, says RBC Capital
RBC Capital says that it "sees something of" a positive turning point in Internet advertising, driven by demand for video and mobile ads. The firm thinks that Facebook (FB) may be the biggest beneficiary of this trend. RBC finds the stock's valuation "highly attractive" and identifies Facebook as its second favorite large cap Internet stock behind Amazon (AMZN). RBC keeps a $105 price target and Outperform rating on Facebook.
08:07 EDTJPMFINRA calls in banks, asset managers for meetings on bond markets, FT says
FINRA has called in several senior executives from banks and asset managers for two meetings to “explore potential solutions” to a liquidity crunch confronting bond markets, the Financial Times reports, citing people familiar with the matter. Some of the representatives summoned to the meetings include Blackstone’s (BX) Stephen Schwarzman, JP Morgan’s (JPM) Jamie Dimon, and economist Nouriel Roubini, the report says. The first meeting will commence on June 18 and will be devoted to discussing “the extent and severity of the liquidity downturn,” the Financial Times reports. The financial industry will propose to FINRA introducing delayed reporting requirements when trading big blocks of debt, the report says. Reference Link
07:33 EDTJPM, GSBig banks may target fee-generating firms for acquisitions, WSJ says
Large U.S. banks may begin targeting fee-generating businesses as possible takeover targets, the Wall Street Journal reports. Big banks may start looking at businesses that don’t require too much capital for acquisitions, such as advisory businesses, payment processing, treasury services, and financial tech, the report says. Even though heightened capital and liquidity requirements make many types of acquisitions “unappealing” to big banks, the idea of banks even as big as JP Morgan (JPM) pursuing a multi-billion dollar deal is “no longer out of the realm of possibility,” the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:37 EDTGEGE Capital Aviation Services orders 60 Airbus A320neo aircraft
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06:12 EDTJPMJPMorgan reports May net credit losses 2.59% vs. 2.34% last month
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