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Stock Market & Financial Investment News

News Breaks
March 5, 2013
08:56 EDTHBC, NCT, FIGHSBC to sell loan portfolios to Springleaf, Newcastle for $3.2B
HSBC Finance Corporation, an indirect wholly-owned subsidiary of HSBC Holdings (HBC), has entered into an agreement to sell its Personal Unsecured Loan and Personal Homeowner Loan portfolios to SpringCastle Acquisition LLC, a Delaware-based company owned by Springleaf Finance and Newcastle Investment Corp. (NCT). The portfolios sale transaction is scheduled for completion in the second quarter of 2013 and is subject to customary closing conditions. HFC has also entered into an agreement to sell its loan servicing facility and related assets in London, Kentucky to Springleaf. Completion of the sale of the building and assets, which is subject to customary closing conditions, is expected in the fourth quarter of 2013, following a transitional period to allow for the conversion of loans being sold to SpringCastle. Upon completion of the sale of the Facility, the majority of employees located in the Facility will transfer to become employees of Springleaf. At December 31, 2012, the carrying value of the gross assets being sold was approximately $4.3B. The total consideration to be paid by SpringCastle and Springleaf is $3.2B.
News For HBC;NCT;FIG From The Last 14 Days
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October 21, 2014
12:55 EDTFIGNathaniel August discusses long position in Fortress
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09:01 EDTFIGOmnisure announces sale to Fortress, affiliates
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October 17, 2014
07:19 EDTNCTNewcastle Investment to host business news update conference call
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October 16, 2014
17:20 EDTNCTNewcastle Investment announces details of New Senior spin-off
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October 10, 2014
18:46 EDTFIGFortress looking for $4B to acquire distressed debt, Bloomberg reports
Fortress Investment is seeking approximately $4.3B to buy distressed debt from around the world, Bloomberg reports, citing people familiar with the matter. The firm is looking for a $2B private-equity structured credit fund with the rest of the balance coming from managed accounts that will invest alongside the deals, two people familiar with the plans added. Reference Link
October 9, 2014
06:40 EDTHBCSource of JPMorgan cyberattack still unclear, NY Times says
The source of the cyberattack on JPMorgan (JPM) and other U.S. financial institutions this summer is still unclear, according to The New York Times. The hackers may have tried to hit about a dozen financial institutions , and E-Trade(ETFC) and Fidelity Investments may have been victimized in some way, the newspaper stated, citing an unnamed source who was briefed on the matter. At least five other banks, including Citigroup (C), HSBC (HBC) and Regions Financial (RF), discovered that one of the web addresses used by those who hacked JPMorgan tried to penetrate their systems, The Times quoted unnamed sources briefed on the matter as saying. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link

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