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Tuesday, March 25, 2014

Business Today: European shares rebound; euro, pound steady

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03/25/2014
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European shares rebound; euro, pound steady
LONDON (Reuters) - European shares rebounded on Tuesday as investors tried to take advantage of a drop in prices caused by geopolitical tensions and doubts about global growth.
Morgan Stanley investors await Fed's buyback blessing
NEW YORK (Reuters) - Morgan Stanley shareholders will find out this week whether the U.S. Federal Reserve will allow the bank to start returning capital to shareholders in a meaningful way for the first time since the financial crisis.
Eyeing Alibaba IPO, bankers skipped lucrative mandates
HONG KONG (Reuters) - Every big bank in town wanted a piece of the Alibaba Group Holding Ltd initial public offering, set to be the biggest technology listing ever.
Carlyle hires JPMorgan's Cavanagh as co-president, co-COO
(Reuters) - Private equity firm Carlyle Group LP said it appointed Mike Cavanagh, co-head of JPMorgan Chase & Co's corporate and investment bank, as co-president and co-chief operating officer.
U.S. prosecutors eye new approach on company misconduct after Toyota
WASHINGTON (Reuters) - U.S. prosecutors are considering using the legal theory behind a $1.2 billion penalty imposed on Toyota to go after misconduct in industries ranging from auto and airplane makers to mining, a Justice Department official told Reuters.
Hundreds rush to rural Chinese banks after solvency rumors
SHANGHAI (Reuters) - Hundreds of people rushed on Tuesday to withdraw money from branches of two small Chinese banks after rumors spread about solvency at one of them, reflecting growing anxiety among investors as regulators signal greater tolerance for credit defaults.
SEC probes banks and companies in loan securities dealings: WSJ
(Reuters) - The U.S. Securities and Exchange Commission has launched an investigation into the increasing number of complex bond deals on Wall Street that may create new opportunities for fraud, the Wall Street Journal reported on Monday.
RBS in contact with Sumitomo over Citizens sale: sources
LONDON/TOKYO (Reuters) - Royal Bank of Scotland has had contact regarding the possible sale of its U.S. retail business Citizens with Sumitomo Mitsui Financial Group , while Mitsubishi UFJ Financial Group has also considered a bid, people with knowledge of the matter said.
Former Madoff associates found guilty of fraud
NEW YORK (Reuters) - Five former aides to investment manager Bernard Madoff were convicted on Monday of charges that they helped their boss conceal his multibillion-dollar Ponzi scheme for years.
Disney to buy YouTube network Maker Studios for $500 million
LOS ANGELES (Reuters) - The Walt Disney Co has agreed to buy Maker Studios, one of YouTube's largest networks, for $500 million, a deal that makes Disney a major online video distributor and should help draw more teens into the Disney entertainment empire.
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