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Stock Market & Financial Investment News

News Breaks
January 15, 2014
06:07 EDTBAC, TGT, MA, KKR, VTarget's payment partners could face fines over data breach, Reuters reports
The companies that help Target Corp. process payments may face millions in fines and costs as a result of the major data breach that struck the retailer over the holiday shopping season, reports Reuters. A review of past data breaches has led some to believe that Target's partners could face consumer lawsuits and fines that payment networks such as Visa (V) and MasterCard (MA) often levy after cyber security incidents.Reference Link
News For TGT;V;MA;BAC;KKR From The Last 14 Days
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March 19, 2015
15:19 EDTKKRKKR, CVC near bid for 80% of Philips lighting components unit, Bloomberg says
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11:53 EDTBACU.S. banks face headwinds in unloading oil loans, WSJ says
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07:17 EDTTGTStephens to hold a conference
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06:36 EDTTGTTarget settles class action lawsuit over data breach, Reuters reports
Target agreed to pay $10M to settle a class action lawsuit related to its 2013 data breach, according to Reuters. Under the settlement, which must be approved by a federal judge, the retailer also agreed to implement data security measures, including hiring a chief information security officer, the news service stated. Reference Link
06:30 EDTBACSEC says BofA must put investment bank spinoff to shareholder vote, Reuters says
The SEC has told Bank of America that it must allow shareholders to vote on whether the company will attempt to spin off its investment bank unit, reports Reuters, citing a decision by the Securities and Exchange Commission. A bank spokesperson said the company "will respond to the proposal in our proxy statement." Reference Link
March 18, 2015
17:42 EDTTGTTarget to increase minimum wage paid to $9 per hour in April, WSJ says
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15:56 EDTTGTTarget to increase minimum wage paid to $9 per hour in April, Dow Jones says
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12:26 EDTTGTTarget unveils extended one-year return policy
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08:25 EDTKKRSamson near deal for covenant breach waiver, NY Post says
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08:10 EDTKKRAres Management names Michael McFerran as CFO
Ares Management, L.P. (ARES) announced that it has appointed Michael R. McFerran as Executive VP, CFO and Treasurer, effective March 23. McFerran will assume firm-wide CFO and Treasurer responsibilities. McFerran was previously a Managing Director at Kohlberg Kravis Roberts & Co. L.P. (KKR) where he served as the CFO of KKR’s credit business and was the COO and CFO of KKR Financial Holdings LLC (KFN). Daniel F. Nguyen, Ares Management’s current CFO and Treasurer, will remain with Ares as CFO of the Ares Private Equity and Tradable Credit Groups and will continue his involvement with firm M&A activities. The CFO roles for each of the other two Ares investment groups, Direct Lending and Real Estate, will continue to be filled by Penni Roll and Tae-Sik Yoon, respectively. In addition, Roll will continue as CFO of Ares Capital Corporation (ARCC) and Yoon will continue as CFO of Ares Commercial Real Estate Corporation (ACRE).
07:10 EDTBACPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
06:42 EDTKKRUxin raises $170M from KKR, Baidu, others, WSJ says
Chinese used car auctioneer Uxin has raised $170M from backers including KKR (KKR) and Baidu (BIDU), reports the Wall Street Journal. Uxin will primarily use the fund to expand its business-to-consumer operations to complete with rivals Bitauto (BITA) and Autohome (ATHM). Reference Link
March 17, 2015
09:05 EDTTGTMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
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08:34 EDTBACBank of America reinstated with an Outperform at Raymond James
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07:53 EDTKKRMatson American Eagle Jack Henry named triple play at Oppenheimer
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March 16, 2015
10:50 EDTMAMasterCard, Itau Unitbanco announce new 20-year agreement
Itaś (ITUB) and MasterCard (MA) announced today the signing of a new 20-year agreement that further strengthens the long-term relationship between the two companies. As part of the agreement, Itaś and MasterCard will establish and operate a new electronic payments network in Brazil. In addition, Itaś will issue payment solutions including credit, debit and pre-paid cards as part of the newly created payments network and focus on enhancing the efficiency of their payment value chain. MasterCard will be responsible for managing the operations of the new network and transaction routing.
10:22 EDTBACBank of America February default rate 2.98% vs. 2.93% last month
Reports February delinquency rate 1.86% vs. 1.83% last month.
09:30 EDTKKRConsortium wants to securitize $5.3B of debt from GE Capital, Reuters says
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07:25 EDTKKRChinese consortium enters Philips auction, Reuters says
A consortium consisting of Lattice Power, GSR Ventures, and Temasek has placed a last-minute bid in the auction for Philips' (PHG) lighting components business, reports Reuters, citing two sources familiar with the matter. The sources also said the CVC and KKR (KKR) consortium tabled their potentially leading bid. Philips will enter exclusive talks with the winner early next week. Reference Link
07:10 EDTMAWEX Inc. to receive MasterCard issuing license in Australia
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