Turner Broadcasting to cut workforce by 10 percent
(Reuters) – Turner Broadcasting, which operates cable news network CNN, TNT and the Cartoon Network, said on Monday it will slash its workforce by 10 percent, or 1,475 positions.
Wall St. falls in choppy day; traders wary before earnings
NEW YORK (Reuters) – U.S. stocks fell in choppy trading on Monday, with traders nervously eyeing the start of earnings season, while the S&P 500 failed to remain above a key technical level.
Ex-Treasury Secretary Paulson says AIG bailout was punitive
WASHINGTON (Reuters) – Former Treasury Secretary Henry “Hank” Paulson told a packed courtroom on Monday that AIG shareholders were singled out for punishment as part of the U.S. government’s attempt to contain the contagion of the 2008 financial crisis…
Goldman had ‘inappropriate’ relationship with Libyan fund: court filing
LONDON (Reuters) – A lawyer seconded to the Libyan Investment Authority, which is suing Goldman Sachs over $1 billion of trades that ended up worthless, was “shocked” by the bank’s “inappropriate” relationship with the fund, according to court filings….
UBS France plans to reorganize asset management business
ZURICH/PARIS (Reuters) – UBS’s French arm is planning to restructure its asset management business and is in consultation with unions over possible layoffs, as the Swiss bank continues to sharpen its focus on private banking.
Walt Disney rescues Euro Disney with $1.3 billion funding deal
LONDON/PARIS (Reuters) – Walt Disney Co has come to the rescue of its loss-making subsidiary Euro Disney with a 1 billion-euro ($1.3 billion) funding deal announced on Monday, which could give the U.S. group total control over Europe’s biggest tourist …
Facebook’s WhatsApp acquisition now has price tag of $22 billion
SAN FRANCISCO (Reuters) – Facebook Inc closed its acquisition of mobile messaging service WhatsApp on Monday, with the final price tag rising an additional $3 billion to roughly $22 billion because of the increased value of Facebook’s stock in recent m…
Exclusive: Apollo, Riverstone plan IPO for Talos Energy – sources
(Reuters) – Apollo Global Management LLC and Riverstone Holdings LLC are preparing Talos Energy LLC for an initial public offering that could value the oil and gas company at over $2 billion, including debt, according to people familiar with the matter…
Gross says he will beat competitors in new role at Janus: InvestmentNews
NEW YORK (Reuters) – Bill Gross, who recently left Pimco where he managed the world’s largest bond fund, said in no uncertain terms that he expects to be a winner in running a relatively small fund in his new role at Janus Capital Group , and expects t…
Iranian banking newcomer struggles as fear of sanctions hits humanitarian deals
LONDON (Reuters) – International banks are shying away from processing humanitarian deals with Iran for fear being fined for breaking Western sanctions, despite moves intended to facilitate the trade, a senior Iranian banker said.
