Retailer Esprit seeks speed to return to fashion
HONG KONG (Reuters) – Fast fashion, even faster. That’s the next target Esprit Holdings’ CEO Jose Manuel Martínez Gutiérrez is aiming for as the Zara-brand veteran steers the Hong Kong-based clothing retailer through a $2.3 billion turnaround.
Fieldwood Energy sets price guidance on $2.63billion loan
NEW YORK (Reuters) – Oil and gas outfit Fieldwood Energy set price guidance on its new $2.625 billion loan backing its $3.75 billion purchase of Apache Corporation’s Gulf of Mexico Shelf business, sources told Thomson Reuters LPC.
Verizon sets pricing on $14 billion bank loan
NEW YORK (Reuters) – Verizon Communications set pricing on the $14 billion bank loan backing its $130 billion acquisition of the 45 percent stake in Verizon Wireless that it does not already own from Vodafone Group Plc , sources told Thomson Reuters LP…
JPMorgan’s board takes some power from Dimon
(Reuters) – JPMorgan Chase & Co’s board, under fire for the bank’s trading losses and myriad government probes, said on Monday that it was adding two directors and handing more power to its lead independent director, steps that give it extra supervision over Chairman and Chief Executive Jamie Dimon.
JPMorgan in $300 million settlement over force-placed insurance
NEW YORK (Reuters) – JPMorgan Chase & Co and a major insurer have agreed to a $300 million settlement to resolve accusations that they forced homeowners into over-priced property insurance and entered into kickback arrangements that inflated the policies’ prices.
Neiman Marcus sold for $6 billion to Canada Pension Plan, Ares
NEW YORK/TORONTO (Reuters) – The owners of Neiman Marcus Inc agreed to sell the U.S. luxury department store chain to two private investors for $6 billion, almost $1 billion more than they paid for the company in 2005.
Koch brothers move into electronics with $7.2 billion Molex deal
(Reuters) – Privately owned Koch Industries will buy Molex Inc, a maker of electronic connectors for companies including Apple Inc, for about $7.2 billion to give the billionaire Koch brothers a way to diversify from their traditional holdings in energ…
Monte Paschi’s new capital needs could force nationalization
MILAN/ROME (Reuters) – The prospect of nationalisation looms large for Italy’s Monte dei Paschi di Siena now that the beleaguered lender needs to raise more than twice as much capital as originally planned to meet new European Union requirements.
Young analyst draws Wall Street ire taking on Kinder Morgan
HOUSTON (Reuters) – Kevin Kaiser, a 26-year-old analyst only three years into his first job out of the Ivy League, jolted Wall Street last week with a pithy email taking aim at North America’s largest oil and gas pipeline and processing company – Kinde…
JPMorgan CFO sees higher litigation costs
(Reuters) – The chief financial officer of JPMorgan Chase & Co said on Monday that the company will build its litigation reserves in the third quarter at a cost that will “more than offset” the benefit of a simultaneous release of extra reserves it had taken for mortgage losses.
