‘Finance’ Articles
FBI launches JPMorgan probe, shareholders back Dimon
TAMPA, Florida (Reuters) - The FBI has opened a probe into trading losses at JPMorgan Chase & Co, stepping up the pressure on the bank after the U.S. Securities and Exchange Commission and the Federal Reserve said they were also looking into the wrong-way bets that led to the losses.
Groupon shares jump on upbeat Q1 results
(Reuters) - Groupon Inc shares jumped 22 percent in premarket trade on Tuesday after the daily deals company posted its first quarterly profit as it signed up more customers and merchants.
Home Depot sales miss estimates; shares fall
(Reuters) - Home Depot Inc reported weaker-than-expected quarterly sales as a warm winter prompted many homeowners to take up renovation projects earlier than usual this year, sending shares of the world's largest home improvement chain down more than 4 percent.
Euro zone economy avoids recession but split grows
BRUSSELS (Reuters) - The euro zone just avoided recession in early 2012 but the region's debt crisis sapped the life out of the French and Italian economies and widened a split with paymaster Germany.
Coty withdraws $10.7 billion offer to buy Avon
(Reuters) - Fragrance company Coty Inc withdrew its $10.7 billion takeover bid for Avon Products Inc on Monday, saying the world's largest cosmetics direct seller had missed a deadline to start discussing a deal that Coty first proposed in March.
Macquarie, UOB place bids for ING Asia arm: sources
HONG KONG (Reuters) - Macquarie Group , U.S.-based Principal Financial Group and Singapore's United Overseas Bank are among suitors that have submitted bids for ING's Asian asset management business in a deal that may be worth around $500 million to $600 million, said sources familiar with the matter.
Analysis: As funds flee, India’s pain is Southeast Asia’s gain
HONG KONG (Reuters) - Southeast Asian nations are swallowing an outflow of money from India, as foreign investors lose patience with its policy paralysis and slowing growth and aim instead for more promising emerging markets such as Indonesia.
Obama says JPMorgan loss shows need for Wall Street reform
WASHINGTON (Reuters) - President Barack Obama said on Monday the huge trading loss at JPMorgan Chase & Co illustrated the need for Wall Street reform and warned that the same kind of error at a less stable bank may have required government intervention.
