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U.S. cable operator Charter to buy Time Warner Cable for $56 bln| Reuters

May 26, 2015 at 23:45 | Source: FirstPost

Charter Communications Inc, the No. 3 cable TV operator, offered to buy No. 2 Time Warner Cable Inc for $56 billion on Tuesday but immediately ran into questions about whether regulators would agree to the combined company, which would control a big ...

Sensex ends flat, market cautious on Q4 earning numbers

May 21, 2015 at 19:50 | Source: FirstPost

Mumbai: The benchmark BSE Sensex today settled marginally lower by 28 points at 27,809.35 as market remained cautious on concerns over poor quarterly earnings despite prevailing rate cut hopes.Participants were guarded ahead of corporate earning numb...

Citi trims year-end Sensex target to 33,200; says investor faith turning fickle

May 21, 2015 at 15:26 | Source: FirstPost

New Delhi - Lowering its 2015-end Sensex target to 32,200 points, global brokerage Citigroup said investors' faith in Indian markets is turning fickle amid a growing perception that the government has got "little logjammed" on various refor...

Major banks admit guilt in forex probe, fined $6 bln| Reuters

May 21, 2015 at 00:30 | Source: FirstPost

NEW YORK/LONDON/ZURICH Four major banks agreed to plead guilty on Wednesday to trying to manipulate foreign exchange rates and six were fined nearly $6 billion in yet another settlement in a global probe into the $5-trillion-a-day market.Authorities ...

Five big banks face criminal charges and $5 billion bill over FX rigging| Reuters

May 20, 2015 at 05:30 | Source: FirstPost

LONDON/NEW YORK Five of the world's biggest banks are expected to be hit with a combined bill of more than $5 billion and criminal charges on Wednesday in a settlement with U.S. and British authorities over rigging of currency markets.It will mark an...

Gold hits three-month high as U.S. data eases rate fears| Reuters

May 15, 2015 at 02:15 | Source: FirstPost

NEW YORK/LONDON Gold hit a three-month high on Thursday as the dollar came under pressure following a new batch of mixed U.S. data that pushed back expectations of when interest rates in the world's largest economy will rise.Spot gold XAU= rose to th...

Ex-Barclays Asia executives to launch new investment bank - sources| Reuters

May 13, 2015 at 03:30 | Source: FirstPost

HONG KONG Four top former Asia-based Barclays Plc (BARC.L) investment bankers, who left last year in the British bank's global cull, are setting up a new cross-border advisory firm, people with knowledge of the matter told Reuters.The four - Ed King,...

Late to the party, global banks try to muscle into India's start-up boom

May 11, 2015 at 11:28 | Source: FirstPost

Global investment banks are scrambling to get a piece of the action from India's booming technology start-ups, having missed out on the initial flurry of deal-making to their better-connected but much smaller domestic rivals.Banks including Goldman S...

Late to party, global banks now scramble to get a pie of Indian start-up M&As

May 11, 2015 at 09:18 | Source: FirstPost

Mumbai - Global investment banks are scrambling to get a piece of the action from India's booming technology start-ups, having missed out on the initial flurry of deal-making to their better-connected but much smaller domestic rivals.Banks including ...

Costs are down: Citigroup reports highest quarterly profit in nearly eight years

Apr 17, 2015 at 10:17 | Source: FirstPost

Citigroup reported its highest quarterly profit in nearly eight years as costs plunged, showing that the bank's efforts to streamline its business may be starting to pay off.Citi has been slowly getting its house in order by cutting costs and sheddin...

Goldman's stock trading boom turns up heat on Morgan Stanley| Reuters

Apr 17, 2015 at 05:45 | Source: FirstPost

NEW YORK (Reuters) - Goldman Sachs Group Inc's (GS.N) blockbuster performance in stock trading last quarter has some Wall Street watchers wondering whether it knocked rival Morgan Stanley (MS.N) out of the top spot in equities.Goldman was head-and-sh...

If Big Banks fail again, will Uncle Sam come to the rescue? You bet

Apr 14, 2015 at 22:58 | Source: FirstPost

(The following is an excerpt from Easy MoneyThe Greatest Ponzi Scheme Ever and How It Is Set to Destroy the Global Financial System).A large number of firms like AIG, Citigroup, Fannie Mae, Freddie Mac, etc., were rescued in the aftermath of the fina...

How the worlds largest companies spend their IT money

Apr 08, 2015 at 11:48 | Source: FirstPost

International Data Corporation (IDC) estimates that, including internal spending, the world's largest companies spent $895B on technology in 2014. IT vendors of all flavors long to harness a share of their hefty IT wallets not only for the revenue g...

IPO buzz: IndiGo may be planning to raise around Rs 2500 cr by May-end

Mar 27, 2015 at 14:32 | Source: FirstPost

India's biggest carrier, IndiGo, is preparing to file documents for a stock listing to raise $300 ( Rs 1,900 crore) to $400 million ( Rs 2500 croree), two sources with knowledge of the plans said, as it looks to cash in on a booming air travel market...

U.S. seeks billions from global banks in currency investigation - Bloomberg

Mar 14, 2015 at 03:30 | Source: FirstPost

(Reuters) - The U.S. Justice Department is seeking about $1 billion each from global banks being investigated for manipulation of currency markets, Bloomberg reported on Friday, citing people familiar with the talks.The figure is a starting point in ...

Investors to pause forex litigation amid U.S. government probe

Mar 11, 2015 at 03:15 | Source: FirstPost

NEW YORK (Reuters) - Lawyers pursuing an antitrust lawsuit by investors accusing 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market agreed to put most of the litigation on hold amid a related criminal probe by the U.S...

Citigroup sells stake in Turkey's Akbank for $1.2 billion

Mar 05, 2015 at 20:30 | Source: FirstPost

ISTANBUL (Reuters) - Citigroup has sold its nearly 10 percent stake in Turkey's Akbank for $1.2 billion, the U.S. lender said on Thursday, its latest disposal of overseas assets to cut costs and boost capital.New York-based Citi has pared back intern...

Barclays reports 21% fall in pre-tax profits

Mar 03, 2015 at 17:12 | Source: BBC

Barclays has reported a fall in profits as it set aside more funds to cover potential fines for misconduct. Statutory pre-tax profits fell 21% to £2.26bn in 2014. The bank increased its provision to cover any fallout from a probe into currency marke...

Coffee's hot as IPO could value Cafe Coffee Day at $1 billion

Feb 27, 2015 at 22:45 | Source: FirstPost

MUMBAI (Reuters) - The firm behind Cafe Coffee Day, India's biggest homegrown coffee chain, is set for a market debut that could value it at almost $1 billion, even as the country's burgeoning cafe culture draws global giants Starbucks(SBUX.O) and Mc...

Cafe Coffee Day plans IPO by April-end, seeks to collect $1 bn

Feb 27, 2015 at 19:24 | Source: FirstPost

Mumbai: The firm behind Cafe Coffee Day, India's biggest homegrown coffee chain, is set for a market debut that could value it at almost $1 billion, even as the country's burgeoning cafe culture draws global giants Starbucks and McDonald's.Cafe Coffe...

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