Category Archives: business

Being a big global bank is not worth the hassle -investor poll

LONDON (NEWS.GNOM.ES) – Being one of the world’s top 30 banks is not worth the hassle of extra regulatory scrutiny and capital requirements, according to a poll of financial industry investors last week. Morgan Stanley said 62 percent of investors polled at its European financial industry conference said the negatives of having a global banking business outweighed the benefits as regulations had “become overbearing” for the largest firms. Only 28 percent of investors said the benefits of being a large and truly global firm outweighed the negatives, and 10 percent of the 60 people polled were undecided Continue reading

Bentley designer raps Ford’s Lincoln Continental – Automotive News

A guest looks at a Ford Motor Co. Lincoln Continental concept car at an event ahead of the New York  … Ford Motor Co. unveils the Lincoln Continental concept car at an event ahead of the New York Interna … BERLIN (NEWS.GNOM.ES) – Bentley Motors’ top designer has criticized Ford’s new Lincoln Continental, fretting on social media about the car’s similarities with one of its own models, Automotive News reported late on Tuesday Continue reading

Simon Property withdraws offer to buy Macerich

(NEWS.GNOM.ES) – Simon Property Group Inc scrapped its attempt to buy Macerich Co after the smaller shopping mall owner rejected its sweetened offer of $23.2 billion including debt. Macerich shares fell 5 percent to $80 in premarket trading on Wednesday Continue reading

Fed’s Lockhart sticks with June to September liftoff, despite growth downgrade

STONE MOUNTAIN, Ga (NEWS.GNOM.ES) – Atlanta Federal Reserve bank president Dennis Lockhart said on Wednesday that the United States remains on track for a likely interest rate hike in the June to September period, with a weak first quarter likely to give way to stronger growth. Continue reading

U.S. private sector adds 189,000 jobs in March -ADP

NEW YORK (NEWS.GNOM.ES) – U.S. private employers added 189,000 jobs last month, below economists’ expectations and the lowest since January 2014, a report by a payrolls processor showed on Wednesday. Continue reading

World Bank sees protracted recession in Russia

MOSCOW (NEWS.GNOM.ES) – Russia faces a protracted recession as the impact of Western sanctions lingers and oil prices stay low, the World Bank said in a report published on Wednesday. In its baseline scenario, the bank expected Russia’s gross domestic product to contract by 3.8 percent in 2015 and a further 0.3 percent in 2016, describing medium-term growth prospects as dim. The World Bank’s lead economist for Russia, Birgit Hansl, said “adjustment to the new oil price reality and the sanctions environment” was a key policy challenge. Continue reading

Sears Holdings to form REIT for some Sears, Kmart stores

(NEWS.GNOM.ES) – Sears Holdings Corp said it would form a real estate investment trust, which will buy about 254 Sears and Kmart stores in a transaction valued at more than $2.5 billion. The newly formed REIT, Seritage Growth Properties, will launch a rights offering to partially fund the purchase of the stores. In a separate deal, Sears said it would form a joint venture with General Growth Properties Inc , under which the retailer will sell 12 of its stores located in General Growth’s malls, and lease them back Continue reading

Bill Gross of Janus says funds he manages resemble Bridgewater strategy

By Jennifer Ablan By Jennifer Ablan NEW YORK (NEWS.GNOM.ES) – Bill Gross, the closely watched bond investor, on Wednesday said the portfolios he manages at Janus Capital Group Inc closely resemble the investment strategies of Bridgewater Associates, the world’s largest hedge fund firm. Gross, who runs the Janus Global Unconstrained Bond Fund, said in his latest Investment Outlook report: “Unconstrained portfolios at Janus mimic most closely the strategic philosophy at Bridgewater.” Unconstrained bond funds have become some of the most popular investment vehicles over the last year because they have the flexibility to invest in all types of bond securities globally and often invest in credit rather than interest-rate sensitive assets. Continue reading

Israel applies to join China-backed AIIB investment bank

TEL AVIV (NEWS.GNOM.ES) – Prime Minister Benjamin Netanyahu has signed a letter of application for Israel to join the China-led Asian Infrastructure Investment Bank (AIIB), the Israeli Foreign Ministry said on Wednesday. More than 40 countries, including Australia, South Korea, Britain, France, Germany and Italy, have said they would sign up to the AIIB, with Japan and the United States the two notable absentees Continue reading

Stock futures flat at start of second quarter

By Ryan Vlastelica By Ryan Vlastelica NEW YORK (NEWS.GNOM.ES) – U.S. stock index futures were little changed on Wednesday, with investors reluctant to keep pushing shares higher after both the S&P 500 and Nasdaq closed out their ninth straight quarter of advances Continue reading