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Stock Market & Financial Investment News

News Breaks
June 9, 2014
08:06 EDTNGL, MS, TLPMorgan Stanley to sell TransMontaigne stake to NGL Energy Partners for $200M
NGL Energy Partners LP (NGL) has entered into a definitive purchase agreement with affiliates of Morgan Stanley (MS) to acquire (i) TransMontaigne Inc (TLP), the owner of TransMontaigne GP L.L.C., the general partner of TransMontaigne Partners L.P., a master limited partnership that trades on the New York Stock Exchange, (ii) the limited partnership units of TransMontaigne Partners L.P. held by Morgan Stanley, amounting to approximately 19.7% of the outstanding units, and (iii) certain entities associated with the TransMontaigne business as well as the related inventory and pipeline and other contract rights. The definitive agreementcontemplates the purchase of Morgan Stanley's energy business related to TransMontaigne on a debt-free basis for a cash purchase price of $200M, including working capital, plus an additional amount for inventory transferred at the closing. The consummation of the transaction is subject to customary closing conditions, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Act. The acquisition is anticipated to close in the third quarter of 2014. The transaction does not involve the sale or purchase of any of the LP units owned by the public.
News For NGL;MS;TLP From The Last 14 Days
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September 18, 2014
14:08 EDTMSBanks look to high-interest personal loans to boost revenue, WSJ says
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September 17, 2014
13:16 EDTMSHolder says DOJ looking to charge bank executives, Washington Post says
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08:30 EDTTLP, NGLTransmontaigne unit, Metroplex enter terminaling services agreement
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September 16, 2014
14:44 EDTMSVirginia AG files $1.15B lawsuit against banks that sold RMBS during crisis
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07:07 EDTMSMagnum Hunter announces partnership with Morgan Stanley Infrastructure
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07:01 EDTMSMorgan Stanley Infrastructure to acquire co-control ownership of Eureka Hunter
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September 15, 2014
12:20 EDTMSMorgan Stanley Smith Barney to pay $280,000 penalty to settle CFTC charges
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September 12, 2014
07:41 EDTMSBank lending grew in quarter, with Capital One leading pack, WSJ reports
Total loans outstanding at U.S. banks and thrifts grew by $178.5B in the second quarter, with Capital One Financial (COF) leading the big banks by growing its loans at an annualized rate of 12.5%, according to SNL Financial data, reported The Wall Street Journal. SNL said 14 of the 15 largest U.S. banks increased their lending, with only Bank of America (BAC) issuing fewer loans than the quarter before, largely attributed to a drop in U.S. closed-end residential mortgages, the report noted. Other publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:31 EDTNGLNGL Energy Partners, Rimrock announce Grand Mesa pipeline open season
NGL Energy Partners LP and Rimrock Midstream, LLC announced that a binding open season starting next Monday, September 15 at 8:00 a.m. Central Standard Time for their joint venture Grand Mesa Pipeline, LLC crude oil pipeline. The open season will close on Friday, October 3 at 5:00 p.m. Central Standard Time.
06:35 EDTMSApple getting discounted card fees for Apple Pay, NY Times reports
Banks are charging Apple lower than usual credit card fees for the tech giant's new mobile payment system, according to The New York Times. The banks hope that participating in Apple Pay will enable them to process transactions that aren't currently being paid for with credit cards, the newspaper explained. The banks and credit card networks also hope to use Apple Pay to prevent technologies that don't incorporate banks from becoming popular, The Times reported. Publicly traded credit card networks include American Express (AXP), Capital One (COF), Discover (DFS), MasterCard (MA) and Visa (V). Publicly traded banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC)..Reference Link
September 11, 2014
07:21 EDTMSBankruptcy bill focused on big bank failure moves past committee, WSJ says
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06:22 EDTMSMorgan Stanley standing by Tianhe Chemicals investment, FT reports
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September 10, 2014
07:16 EDTMSRepublicans, Democrats both push for harder 'too big to fail' rules, WSJ says
Lawmakers from both the Republican and Democrat sides of the aisle urged U.S. regulators to push forward additional regulations to ensure the biggest banks aren't "too big to fail," said The Wall Street Journal. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:35 EDTMSFed may raise capital requirement for some banks to 11.5%, NY Times reports
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September 9, 2014
07:28 EDTMSThe Money Event, Inc to hold a conference
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06:33 EDTMSFed looks set to pressure large banks to shrink, NY Times says
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September 8, 2014
07:24 EDTMSBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.

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