RBS slashes U.S. mortgage business, hundreds of jobs: FT
(Reuters) – Royal Bank of Scotland has become the latest overseas bank to shrink its business in the United States after announcing it would cut its mortgage trading business by two-thirds, the Financial Times reported on Tuesday.
Ex-Goldman trader Tourre won’t appeal SEC fraud case verdict
TeNEW YORK (Reuters) – Former Goldman Sachs Group Inc trader Fabrice Tourre said Tuesday he would not appeal an order requiring he pay more than $825,000 after a jury found him liable for defrauding investors in a failed mortgage deal.
S&P 500 ends at record on mergers, ECB; small caps rise
NEW YORK (Reuters) – U.S. stocks rose on Tuesday as the S&P 500 scored a second straight record close, buoyed by the latest round of merger activity and as expectations for rate cuts by the European Central Bank stoked investors’ appetite for equities.
Allergan makes case against Valeant takeover ahead of higher bid
(Reuters) – Allergan Inc on Tuesday built its case with investors for rejecting a $47 billion takeover offer from Valeant Pharmaceuticals International, , saying the Canadian drugmaker has overstated the possible savings from the deal.
BofA’s investment bank aims to be more diversified, global
NEW YORK (Reuters) – Bank of America Corp is looking to diversify its investment banking business by doing more equity underwriting and merger advisory work and by winning more clients outside the United States, a senior executive said on Tuesday.
GE, Siemens defend rival plans for France’s Alstom
PARIS (Reuters) – General Electric and Siemens defended rival proposals to buy the power arm of Alstom on Tuesday, both assuring France that its prized engineering firm would emerge strengthened, including in its remaining transport business.
Citigroup sees second quarter markets revenue down as much as 25 percent: CFO
NEW YORK (Reuters) – Markets revenue at Citigroup Inc is expected to decline between 20 and 25 percent in the second quarter from a year earlier because of lackluster fixed-income trading, Chief Financial Officer John Gerspach said on Tuesday.
Pilgrim’s bid for Hillshire puts pinnacle deal in peril
(Reuters) – Pilgrim’s Pride Corp PPC.O on Tuesday offered to buy Hillshire Brands Co HSH.N in an all-cash deal valued at $6.4 billion, as the world’s second-largest chicken processor seeks to expand its protein footprint with Hillshire’s sausages and l…
Airbus Group CEO keeping options open on new term
AMSTERDAM (Reuters) – Airbus Group Chief Executive Tom Enders has ruled out taking another job in aerospace or going into politics when he eventually decides to step down from Europe’s largest aerospace group – but is not yet ready to say when that wil…
U.S. factory, confidence data boost growth prospects
WASHINGTON, May 27 (Reuters) – Orders for long-lasting U.S. manufactured goods unexpectedly rose in April and consumer confidence perked up in May, supporting views of a rebound in economic growth.
