Post by anenro on Oct 19, 2015 17:04:46 GMT 4
Ferrari's long-awaited initial public offering is finally at the starting line, with the stock likely to be priced Tuesday night and begin trading on the NYSE on Wednesday. Fiat Chrysler (NYSE:FCAU) is selling about 10% of Ferrari in the IPO. At the top of its projected range of $48-$52 a share, the luxury sports-car maker would have a stock-market valuation of $9.8B.
Deutsche Bank is splitting its investment bank into two units as part of a sweeping overhaul that will send several key executives packing. The move will see the separation of Deutsche's (NYSE:DB) Corporate Banking and Securities division into one group focused on corporate finance and investment banking and the other on sales and trading. Who's being shown the door? Colin Fan, the bank's co-head of investment banking, and Michele Faissola, head of the bank's asset management business. Deutsche is also abolishing its group executive committee, which is made up of 19 senior managers, and streamlining how its main units are represented on the management board. DB +3.4% premarket.
U.S. banks are going to new lengths to ward off big cash deposits, judging that the cash may be too costly to keep. For the first time, State Street (NYSE:STT) has begun charging some customers for large dollar deposits, and JPMorgan (NYSE:JPM) has already cut unwanted deposits by more than $150B this year. The actions are driven by profit-crunching low interest rates and new regulations adopted since the financial crisis, such as reserves of as much as 40% against certain corporate deposits and as much as 100% against some deposits from hedge funds.
United Continental is still silent on the medical condition of its new CEO Oscar Munoz, who was admitted to the hospital on Thursday after suffering a heart attack, but investors are questioning who will lead the company in his absence. Munoz's health problems come barely a month after he took on the job of improving the profitability and reputation of United (NYSE:UAL), the No. 2 U.S. carrier by capacity.
Alibaba is lobbying hard to stay off the U.S. Trade Representative's blacklist this year after coming under renewed pressure over suspected counterfeits sold on its shopping platforms. While two of Alibaba's (NYSE:BABA) sites were on the USTR's "Notorious Markets" list from 2008, Alibaba.com was removed in 2011 and Taobao was taken off in 2012. Re-inclusion on the annual list would be a blow to the company's efforts to shed perceptions that its anti-piracy policies are inadequate and could hurt its beleaguered stock price (-31% YTD).
And, how was your weekend?
Cheers to one and all !
Deutsche Bank is splitting its investment bank into two units as part of a sweeping overhaul that will send several key executives packing. The move will see the separation of Deutsche's (NYSE:DB) Corporate Banking and Securities division into one group focused on corporate finance and investment banking and the other on sales and trading. Who's being shown the door? Colin Fan, the bank's co-head of investment banking, and Michele Faissola, head of the bank's asset management business. Deutsche is also abolishing its group executive committee, which is made up of 19 senior managers, and streamlining how its main units are represented on the management board. DB +3.4% premarket.
U.S. banks are going to new lengths to ward off big cash deposits, judging that the cash may be too costly to keep. For the first time, State Street (NYSE:STT) has begun charging some customers for large dollar deposits, and JPMorgan (NYSE:JPM) has already cut unwanted deposits by more than $150B this year. The actions are driven by profit-crunching low interest rates and new regulations adopted since the financial crisis, such as reserves of as much as 40% against certain corporate deposits and as much as 100% against some deposits from hedge funds.
United Continental is still silent on the medical condition of its new CEO Oscar Munoz, who was admitted to the hospital on Thursday after suffering a heart attack, but investors are questioning who will lead the company in his absence. Munoz's health problems come barely a month after he took on the job of improving the profitability and reputation of United (NYSE:UAL), the No. 2 U.S. carrier by capacity.
Alibaba is lobbying hard to stay off the U.S. Trade Representative's blacklist this year after coming under renewed pressure over suspected counterfeits sold on its shopping platforms. While two of Alibaba's (NYSE:BABA) sites were on the USTR's "Notorious Markets" list from 2008, Alibaba.com was removed in 2011 and Taobao was taken off in 2012. Re-inclusion on the annual list would be a blow to the company's efforts to shed perceptions that its anti-piracy policies are inadequate and could hurt its beleaguered stock price (-31% YTD).
And, how was your weekend?
Cheers to one and all !
