Nadbiskup Cupich na udaru kritika
Svijetkol. 13, 20152 341
| |||||
| |||||
|
 |
|
 | |||
|
THURSDAY, AUGUST 13, 2015TODAY'S TOP HEADLINES | ||||||||||||||||||||
M & A Nomad to Acquire Findus's Continental Europe BusinessINVESTMENT BANKING HSBC to Promote Two in Banking OperationsPRIVATE EQUITY Texas Investor Energy & Minerals Acquires Aussie Shale StakeOFFERINGS Houlihan Lokey, Boutique Investment Bank, Fizzles in I.P.O. PricingLEGAL/REGULATORY Argentine Assets Considered Commercial in Dispute | ||||||||||||||||||||
| ||||||||||||||||||||
| ||||||||||||||||||||
BY AMIE TSANG
DEVALUATION SUGGESTS CHINA IS SHORT OF OPTIONS Even when the Chinese economy has struggled, the currency has never buckled. Now the plunge in the value of the renminbi has stoked fears that the economy is worse off than reported and that the government is panicking, Neil Gough reports in The New York Times. China allowed the renminbi to weaken significantly on Thursday for a third consecutive day.
By official measures, the economy is growing at a 7 percent clip, in line with government targets. It is a steady pace that the leadership has indicated can support decent job growth and put more money into consumers' pockets. But core parts of the economy, like construction, are weaker than ever. The real estate industry is struggling, consumer spending is not strong, and financial services are slipping. Economists are starting to wonder whether some provinces and regions could be dealing with outright recessions. "I don't see this mini-devaluation as some kind of outrageous act," said George Magnus, an economic adviser to the bank UBS and an associate at Oxford University's China center. "But it is part of an array of other economic and financial stimulus measures designed to shore up the flagging growth rate." (The New York Times has visualized the moves that China has made in the last two months to stabilize the economy.) Consumers aren't yet able to shoulder the burden of driving the economy as construction weakens. Incomes are still rising, but the job market has started to show signs of stress. The stock market slump has also taken a toll on ordinary investors. As a result, consumers are spending less. With the government pumping money into the economy, it remains unclear justhow solid the economy will be, Mr. Gough writes.
PROSECUTORS ASK TO DENY BAIL TO ACCUSED INSIDER TRADING RING Federal prosecutors asked the courts to refuse bail to all five men arrested in connection with a scheme that enabled securities traders to benefit from confidential corporate information stolen by hackers in Ukraine, Matthew Goldstein reports in DealBook. The government's lawyers contended that the men, all of whom were arrested in the United States but have strong ties to Ukraine, were likely to flee the country.
The request is unusual for a white-collar crime case. None of the defendants has been accused of engaging in violent behavior, and three of them are United States citizens. But the prosecutors said the men represent substantial flight risks because of they have the means to escape to non-extradition countries; the United States does not have an extradition treaty with Ukraine. International arrest warrants have been issued for four other men in the case, who are believed to be in Ukraine. The men are accused of submitting lists of companies to hackers when they wanted to illegally obtain releases from news services. They would then trade on the stock of some of the biggest companies around the world using this information and their own brokerage accounts in various investment banks. One of the men prosecutors want to keep in custody is Vitaly Korchevsky, 50, a former Morgan Stanley mutual fund manager and a hedge fund manager. According to an indictment, Mr. Korchevsky was the single biggest earner in the scheme, making just over $17 million. Born in Ukraine, Mr. Korchevsky is a United States citizen and the pastor of a church. The Brooklyn prosecutors also are asking that Leonid Momotok, 47, and Aleksandr Garkusha, 47, two men living near Atlanta, be held without bail. Both are also United States citizens, born in Ukraine. Over the next several days, detention hearings will be held to determine whether the men should be released on bail or remain in custody pending trials. Hearings will also be held to have the men's cases formally transferred to either federal court in Brooklyn or in Newark.
FIDELITY NATIONAL INFORMATION SERVICES TO BUY SUNGARD Fidelity National Information Services, a large service provider for banks, agreed to buy SunGard in a cash-and-stock deal that values thefinancial software company at about $9.1 billion, including debt,Michael J. de la Merced and Chad Bray report in DealBook. The combined company would have more than $9.2 billion in annual revenue and more than 55,000 employees, Fidelity National Information Services said.
Although the sale initially appears disappointing to the private equity firms that paid bout $11 billion for SunGard in 2005, the investors can claim a modest return. Some people briefed on the returns said it was just over 1.5 times their equity investments. The actual equity that the firms put in was less than the $11 billion figure, which included debt. Still, it is not a home run for an investment made a decade ago at the beginning of a leveraged-buyout boom. The private equity firms involved - Bain Capital, the Blackstone Group, the private equity division of Goldman Sachs, Kohlberg Kravis Roberts & Company, Providence Equity Partners, Silver Lake and the Texas Pacific Group (now TPG Capital) - have held on to the company for almost 10 years. During this, they have managed to sell other investments in a shorter period of time for much better returns. The private equity investors were able to bolster their returns by taking out about $700 million in dividends from the company and breaking SunGard into parts, both to raise money and to make the resulting operation more digestible. Some of these parts have been sold, leaving the financial software business and a tiny portion of the education operations for Fidelity National Information Services. This accounts for just over 50 percent of the revenue that the old SunGard collected when it was acquired in 2005. Broken down, the deal amounts to $2.8 billion worth of stock, $2.3 billion in cash and the assumption of SunGard's $4 billion in debt. The ultimate return will depend in part on the price at which the private equity consortium can sell its shares in Fidelity National.
ON THE AGENDA Kohl's conference call on its latest results starts at 8:30 a.m. Nordstrom holds a conference call on second-quarter earnings at 4:45 p.m. The Commerce Department's report on July retail sales is released at 8:30 a.m. The University of Michigan releases August data on consumer sentiment at 10 a.m.
U.S. APPEALS A.I.G. RULING The Justice Department formally appealed a court ruling that said the government's terms for saving American International Group during the financial crisis were too strict,Aaron M. Kessler reports in DealBook. Maurice R. Greenberg, the former chief executive of A.I.G., charged that the government overstepped its bounds by imposing unduly harsh terms on the insurance giant compared with Wall Street banks. The federal lawsuit, brought on behalf of A.I.G. shareholders, sought damages in excess of $40 billion.
In June, Judge Thomas C. Wheeler of the United States Court of Federal Claims ruled that the Federal Reserve had crossed the line by demanding a 79.9 percent equity stake in A.I.G. and that the central bank did not have the legal right to become the owner of A.I.G. But he awarded no damages, saying the shareholders had not suffered financially. "The inescapable conclusion is that A.I.G. would have filed for bankruptcy" without the bailout, he wrote, and "the value of the shareholders' common stock would have been zero." Starr International, the company through which Mr. Greenberg sued, almost immediately indicated that it planned to appeal on the issue of damages. The Federal government is worried because the ruling couldset a dangerous precedent by declaring the Fed's actions illegal. The case now moves to the Court of Appeals for the Federal Circuit. Thecase could drag on for several more years.
Contact amie.tsang@nytimes.com
MERGERS & ACQUISITIONS »
Nomad to Acquire Findus's Continental Europe Business The deal continues a series of acquisitions by Nomad, a so-called special purpose acquisition company founded last year to buy food businesses.
News Corp. Planning to Sell Off Money-Losing Education UnitAmplify, the education division of Rupert Murdoch's company, is in an "advanced stage of negotiations" with a potential buyer.
Maersk Shares Jump on Strong Results and Share Buy-BackShares in Denmark's A.P. Moller-Maersk jumped as much as 8.6 percent on Thursday after the shipping and oil group reported second-quarter profits ahead of forecasts and started a $1 billion share buy-back program.
Senator Calls for Block on Chinese Bid for U.S. Chip Maker "I am deeply concerned with the national security implications of allowing China to gain market control over the production of components tied to modern U.S. defense systems, potentially including Micron's memory chips," Senator Chuck Schumer wrote in a letter.
Money Ills Raise Doubts on Plan to Take SFX Entertainment Private A falling stock price, growing losses and several moves by SFX this year have rattled some in the music industry and worried analysts.
NBCUniversal Invests $200 Million in Vox Media The media giant and digital upstart intend to blur the lines between their two worlds and collaborate on programming, advertising and technology.
INVESTMENT BANKING »
HSBC to Promote Two in Banking Operations The elevations for Natalie Blyth and Philip Noblet come as HSBC continues to reshape its global business.
Deutsche Bank Employees Charged in Emissions Trading CaseFrankfurt's public prosecutor's office has filed charges against eight current and former employees of Deutsche Bank over the alleged evasion of taxes on trading carbon-emission certificates that has cost Germany hundreds of millions of euros.
RBS Hands Out $5.2 Million in 'Role-Based' Pay Awards State-backed Royal Bank of Scotland has awarded shares worth more than 3.3 million pounds, or $5.2 million, to 10 executives under new "role-based" pay awards it brought in to avoid limits on annual bonuses.
Goldman Sachs to Give Out 'Secret Sauce' on Trading Goldman will soon offer clients access to more of its in-house tools, like high-powered databases that analyze markets and manage risk, The Wall Street Journal reports, citing the firm's executives.
Citigroup's 'Bad Bank' Isn't So Bad Anymore The "bad bank" unit of Citigroup, Citi Holdings, has been the repository for businesses the bank wanted to dump, but the unit has reported four profitable quarters in a row and has sold more than $700 billion in assets.
| ||||||||||||||||||||
| ||||||||||||||||||||
| ||||||||||||||||||||
PRIVATE EQUITY »
Texas Investor Energy & Minerals Acquires Aussie Shale StakeEnergy & Minerals Group, the Texas based private equity firm that manages about $16.8 billion in assets, agreed to acquire an 18 percent stake in acreage owned by Pangaea Resources, the Australian exploration company.
Private Equity Investment Returns Without the Fees A new paper suggests investors can do significantly better than the average private equity firm by buying shares in certain kinds of public companies.
I.P.O./OFFERINGS »
Houlihan Lokey, Boutique Investment Bank, Fizzles in I.P.O. Pricing The 43-year-old financial advisory firm sold fewer shares at a lower price than it had expected, valuing it at about $1.4 billion.
Data-Storage Start-Up Files for I.P.O. Pure Storage, a data-storage start-up valued privately at roughly $3 billion, filed to go public in what may become a crush of initial public offerings by business-technology firms.
LEGAL/REGULATORY »
Argentine Assets Considered Commercial in Dispute A federal judge in New York sanctioned Argentina on Wednesday, ruling that he will consider Argentine government assets in the United States as commercial property in a long-running dispute over the South American nation's debt.
ITG to Pay $20 Million on S.E.C. Charges It Ran Secret Trading Desk Investment Technology Group will pay a record $20.3 million to settle charges that it ran a secret trading desk that used confidential customer trading information for profit, including bets against its customers.
Payday Lender Under Investigation World Acceptance is being investigated by the Consumer Financial Protection Bureau, which has increased its scrutiny of payday lenders.
British Regulator Wins $11.87 Million High Court 'Layering' Market Abuse Order A British High Court judge has ordered a Swiss investment firm and three Hungarian traders to pay 7.6 million pounds, or about $11.87 million, for manipulating share prices on British trading platforms, handing the regulator a victory after a four-year legal battle.
| ||||||||||||||||||||
 |
|---|
Aug. 13, 2015
|
NEWSUnder Obamacare, Uninsured Rate Fell to Lowest Level in 50 Years. Why There's More to That Number. Experts say the change could be mostly attributed to the Obama administration’s expansion of Medicaid. Read More |
NEWS3 States Defund and 13 States Investigate Planned Parenthood The three states that recently denied taxpayers' money to Planned Parenthood affiliates likely will be followed by others as public pressure mounts on governors and other state officials, regardless of whether Congress votes to defund the nation’s leading abortion provider.Read More |
COMMENTARYThe Government Finally Seized Clinton's Email Server Now a full investigation can occur.Read More |
COMMENTARYThere Are Nearly 300 Cases of Voter Fraud in America The list continues to grow.Read More |
NEWSNew Mexico Appeals Court Rules Assisted Suicide 'Is Not a Fundamental Liberty' Siding with the state’s attorney general, the appeals court ruled against physician-assisted suicide, and said, "[A]id in dying is not a fundamental liberty interest under the New Mexico Constitution."Read More |
NEWSBipartisan Group of Lawmakers Ask Treasury Department to Return $29,500 Taken From Innocent Dairy Farmers The letter calls on the agency to return money seized from Maryland-based dairy farmers Randy and Karen Sowers through civil asset forfeiture.Read More |
The Daily Signal is the multimedia news organization of The Heritage Foundation.
 Find us on Facebook Follow us on Twitter
The Daily Signal
214 Massachusetts Avenue, NE Washington, DC 20002 (800) 546-2843 Donate to The Daily Signal |
| Ponuda dana: Nacionalna | Ponuda dana: Nacionalna | ||||||||||||
| NutriBullet ekstraktor hranjivih sastojaka + knjižica s receptima | Play Dough dječji set za sladoled s 36 dijelova, dostava besplatna | ||||||||||||
|
| ||||||||||||
| Ponuda dana: Nacionalna | Ponuda dana: Nacionalna | ||||||||||||
| Inspired by MAC - 12-dijelni set kistova za šminkanje | Prijenosni ručni usisavač za automobil, dostava besplatna | ||||||||||||
|
| ||||||||||||
| www.megapopust.hr info@megapopust.hr | |||||||||||||
|
 | ||||||||||||||||||||
 | ||||||||||||||||||||
 Ending soon // by Gizmag |  | |||||||||||||||||||
A Sleek, Fast & Powerful Portable Battery with a Built-In Micro USB or Lightning Cord
Rather than weigh yourself down with an external battery, stick this ultra-thin charger in your wallet to power up your phone or gadgets anywhere! | ||||||||||||||||||||
| ||||||||||||||||||||
   |
Your chance to win a glamorous Arabian adventure
Trouble Viewing? Click Here
Trouble Viewing? Click Here
 |
|
Did you receive this email from a friend? Get Great Getaways delivered directly to your inbox.
Don't forget to add nytdirect@nytimes.com to your address book so you always get the latest deals. |
13 Aug 10:56 GMT
12 Aug 19:12 GMT
Distribution channels: Culture, Society & Lifestyle,International Organizations ...
Get More Press Releases by Email
Get More News, Tools & Services
Latest Events & Conferences
- The 13th Annual World Health Care Congress
- 4th Annual Global Pharmaceutical and Medical Meetings Summit ™
- Future of Work
- Hub Live: The Brand Experience Symposium
- Oil & Money 2015 - The Brave New World of Energy
- Craftaholics Day Shop
- Magfest Issue 04 - Create Inspire Evolve
- Music Shakers Baby Class with Rachel: Tues@11:00 in Kings Heath (Autumn)
- FREE Football Education Course for 16 - 18's.
- Hero USA presents Water Sports Weekend III
- 2015 Alaska Salsa Festival
This email was sent to tokic.stjepan719@gmail.com · Manage Email Preferences · Unsubscribe
IPD Group, Inc., 1025 Connecticut Avenue NW, Suite 1000, Washington, DC 20036 · Contact
© 1995-2015 IPD Group, Inc., a publisher of EIN News
All Rights Reserved
IPD Group, Inc., 1025 Connecticut Avenue NW, Suite 1000, Washington, DC 20036 · Contact
© 1995-2015 IPD Group, Inc., a publisher of EIN News
All Rights Reserved
PRESS RELEASES
WORLD NEWS
EVENTS
TRENDING ON EIN NEWSDESK
This email was sent to tokic.stjepan719@gmail.com
World News Report by EIN Newsdesk & EIN Presswire (a press release distribution service)
IPD Group, Inc., 1025 Connecticut Avenue NW, Suite 1000, Washington, DC 20036
© 1995-2015 IP Group, Inc., a publisher of EIN News
All Rights Reserved
All Rights Reserved
Nema komentara:
Objavi komentar