New York Attorney General Andrew Cuomo on Tuesday ended a call with reporters about curbs on executive salary and bonus payments at insurer American International Group and other Wall Street firms with a parting shot at a tabloid reporter who asked if he planned to take up similar issues as a U.S. Senator.
“No maybe as a Daily News […]
Posted on November 26th, 2008 by
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One beneficiary of Citi’s massive bailout was BCE Inc, the massive telecoms company that is being bought in one of the last remaining leveraged buyouts to close.
Citigroup, alongside TD Securities, a unit of TD Bank Deutsche Bank and Royal Bank of Scotland, is financing the deal and the market has been nervous about the buyout […]
Posted on November 26th, 2008 by
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BHP announced an all-share offer valuing Rio at about $193 billion last November, as mining boomed worldwide. BHP said the risk of taking on Rio’s much heavier debts, and the low prices it could expect from asset sales forced on it by regulators, were among the factors behind the decision to abandon the bid.
The decision […]
Posted on November 26th, 2008 by
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The Citigroup rescue seems to be the latest sign that the government is now wary of scaring away shareholders from financial services companies as it rescues them.
In its massive bailout of the financial giant unveiled Sunday, the government took warrants that would dilute shareholders by only about 4.5 percent. Compare that with the bailouts for […]
Posted on November 25th, 2008 by
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Mets fans can rest easy. Citigroup and the New York Mets have confirmed that their record 20-year, $400 million naming rights deal for the team’s new ball park, set to open for the 2009 baseball season, is still on. Not that Citi could wiggle out of the deal anyway.
On Sunday, the struggling bank won a […]
Posted on November 25th, 2008 by
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After scoring one of the biggest exclusive deals in music retailing in a long while– or at least since Wal Mart snagged the exclusive for the new AC/DC opus “Black Ice” earlier this year– Best Buy began selling the long awaited new recording by Guns n’ Roses, “Chinese Democracy,” on Sunday.
But stepping down the escalator […]
Posted on November 25th, 2008 by
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Thanksgiving has come early for embattled Citigroup. The second-largest U.S. bank by assets received a pardon of sorts from the government late on Sunday, getting a $20 billion lifeline – the biggest bank bailout yet.
The bank had been widely thought to be too big to fail because of its global reach. Chief Executive Vikram Pandit […]
Posted on November 25th, 2008 by
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Microsoft/Yahoo, Samsung/SanDisk, Electronic Arts/Take-Two….Facebook/Twitter?
According to Kara Swisher of All Things Digital, Facebook had talked for several weeks about buying micro-blogging site Twitter for $500 million in stock, and then gave up on the idea about three weeks ago.
The sticking point apparently was price — whether the deal valued Facebook shares too highly. “But, more important, […]
Posted on November 25th, 2008 by
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