Jurors hear of Tourre’s Goldman paid leave after SEC lawsuit
NEW YORK (Reuters) – A lawsuit by the U.S. Securities and Exchange Commission may have destroyed his career, as former Goldman Sachs trader Fabrice Tourre put it, but for more than a year it didn’t eliminate his pay.
Muni board watching general obligation debt in Detroit case
WASHINGTON (Reuters) – The municipal bond market’s self-regulator on Friday said the Detroit emergency manager’s proposed treatment of general obligation bonds in the city’s bankruptcy case risks changing how investors view what has long been considere…
Vivendi overhaul gathers pace with $8.2 billion Activision sale
PARIS (Reuters) – Vivendi agreed to sell most of its stake in Activision Blizzard, the world’s largest videogames publisher, for $8.2 billion on Friday, paving the way for a broader split of the French conglomerate’s media and telecoms assets.
Amazon hits new high on optimism about its U.S. business
SAN FRANCISCO (Reuters) – Amazon.com Inc shares hit a record on Friday after quarterly results increased optimism about the Internet retailer’s U.S. business.
Siemens’ board to discuss management’s future at weekend: sources
MUNICH (Reuters) – Members of Siemens’ supervisory board will meet at the weekend to discuss the future of the German engineering group’s management, two people familiar with the matter said on Friday, a day after the firm abandoned its 2014 profit tar…
Bankers in line for telecom and media fees windfall
LONDON (Reuters) – Bankers working on the sale of the bulk of Vivendi’s stake in Activision Blizzard Inc to the video games maker and its management could earn advisory fees of up to $80 million, according to an industry estimate.
SAC Capital pleads not guilty to insider-trading charges
NEW YORK (Reuters) – Steven Cohen’s hedge fund, SAC Capital Advisors LLP, pleaded not guilty in federal court on Friday, one day after it was indicted on insider-trading charges.
Robust loan demand sinks Gardner Denver’s borrowing costs
NEW YORK (Reuters) – Global industrial manufacturer Gardner Denver this week raised $2.825 billion in leveraged loans to fund its acquisition by private equity sponsor Kohlberg Kravis Roberts & Co. Hefty demand for the loans sent yields on both the U.S. dollar and euro tranches below 5 percent, with the U.S. dollar TLB upsized by $100 million.
Unilever to ditch PwC after 26 years to comply with new UK auditor rule
LONDON (Reuters) – Unilever is looking for a new auditor, after 26 years with PwC, to comply with a new rule, prompted by questions over why accountants gave banks a clean bill of health just weeks before they were rescued by taxpayers in the 2008 fina…
New Anglo boss targets $3.5 billion lift to fix lagging miner
LONDON (Reuters) – Anglo American’s new boss laid out his blueprint for a turnaround of the underperforming miner on Friday, vowing to cut costs, halve a $17 billion project pipeline and revive lagging mines to boost cash and returns by 2016.
