Hyundai Card has asked banks to pitch proposals for a potential IPO and expects to receive the proposals from banks by October 22. On Tuesday, Hyundai Card, the credit card unit of Hyundai Motor Group, disclosed it is preparing for… Read More ›
business
BNP Paribas to cut 500 jobs in France over the next 3 years
The job cuts will be routed through voluntary redundancies with employees having the option to relocate to other posts in Portugal. In a statement, BNP Paribas disclosed, it would cut nearly 500 jobs in France from its securities services business…. Read More ›
SEC proposes changes in Regulations S-K to ease compliance in regulatory filings
The move is part of a broader plan to modernize the compliance regime. In a significant development, the U.S. Securities and Exchange Commission has proposed changes to rules governing how publicly-traded companies disclose business, legal, and risk factors in regulatory… Read More ›
Amazon.com Inc exists food delivery business in U.S.
This appears to be a tactical retreat. Amazon is very much interested in the food delivery business. In a significant development that underscores the intensity of the competition existing in the food delivery business, Amazon.com Inc stated it will end… Read More ›
Goldman Sachs to acquire Capital Vision Services LP for $2.7 billion: sources
A Wall Street Journal report had priced the deal at $2.7 billion. Goldman Sachs expects to close the deal by the third quarter of 2019. In a statement, Goldman Sachs Group Inc said West Street Capital Partners VII, a fund… Read More ›
Huawei Technology to sell undersea cable business
The disclosure was made by Hengtong Optic-Electric Co Ltd in a filing to the Shanghai Stock Exchange. On Monday, a filing by China’s Hengtong Optic-Electric Co Ltd, an optical communication network products company based in Jiangsu, showed that Huawei Technologies… Read More ›
Bank of America Corp posts mixed results in quarterly earnings
While Bank of America Corp’s net income applicable to shareholders have risen in comparison to the previous year, they are however lower than analysts’ average expectations. Revenues, net of interest expense, were also lackluster. On Tuesday, Bank of America Corp… Read More ›
Ab InBev adds BAML and Citi ahead of Hong Kong IPO
Ab InBev is likely to file for the IPO with the Hong Kong stock exchange in the first half of 2019. According to three sources with direct knowledge of the matter at hand, Anheuser-Busch InBev, the world’s largest brewer, has… Read More ›
CIFIUS blocks China’s purchase of Toshiba’s U.S. liquefied natural gas (LNG) business
China’s bid to purchase Toshiba’s U.S. liquefied natural gas (LNG) business was blocked by CIFIUS. Analysts have warned, failure to find a buyer will significantly dent the chances of its recovery from bankruptcy. On Friday, Toshiba Corp’s shares fell by… Read More ›
Canaccord Genuity Group Inc to restructure capital market business over Brexit-related uncertainties
Canaccord Genuity Group Inc expects significant job cuts in its capital market business in the UK however, it will not effect its wealth management business in the UK or Europe. In a significant development, Canaccord Genuity Group Inc stated it… Read More ›
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