You are here
debt Jeffrey Rosenberg Money Pat Keon service Top News 

U.S. stock fund flows decline week after one of biggest inflows of 2017

June 22, 2017 By Trevor Hunnicutt NEW YORK (Reuters) – Investors pulled back from U.S.-based stock funds after pouring the most cash into those investments since February the previous week, Lipper data showed on Thursday. Withdrawals of $2.2 billion struck U.S.-based equity mutual funds and exchange-traded funds during the week ended June 21, the research service said, during a rollercoaster week for stocks and as the Federal Reserve announced its second interest rate hike of 2017. The S&P 500 recorded three down days and two up during the measurement period,…

Read More
Business debt Exclusive Sycamore Partners Lauren Hirsch United States 

Exclusive: Sycamore Partners close to deal to acquire Staples – sources

June 22, 2017 By Greg Roumeliotis and Lauren Hirsch (Reuters) – Private equity firm Sycamore Partners is in advanced talks to acquire Staples Inc following an auction for the U.S. office supplies retailer, people familiar with the matter said on Wednesday, in a deal that could top $6 billion. The acquisition would come a year after a U.S. federal judge thwarted a merger between Staples and peer Office Depot Inc on antitrust grounds. It would represent a bet by Sycamore that Staples could more quickly shift its business model from…

Read More
case debt economic growth Money Neil Constable Top News 

U.S. stock market gets relief from strong fund flows: trade group

June 21, 2017 By Trevor Hunnicutt NEW YORK (Reuters) – U.S. stock fund flows rebounded in the latest week, providing succor to markets after multibillion dollar withdrawals in the prior week, data from trade group Investment Company Institute (ICI) showed on Wednesday. Equity funds based in the United States pulled in $27.3 billion during the week ended June 14, driven chiefly by demand for exchange-traded funds (ETFs). Debt funds attracted $7.7 billion in their 25th straight week of inflows, ICI said. Mutual funds are heavily favored by retail investors, while…

Read More
debt fact Jill Gonzalez Money month Top News 

Your Money: Will you still be paying off your summer vacation in 2018?

June 20, 2017 By Beth Pinsker NEW YORK (Reuters) – Your summer vacation better be worth it because, chances are, you are still going to be paying it off next year. A new survey released June 20 from financial website LearnVest.com says that Americans take an average of six months to recover financially from a vacation. Additionally, 66 percent of the 1,000 people who responded to the survey in May said they spend more than on one month’s rent or mortgage on a week-long vacation, a finding especially troubling to…

Read More
Business debt month New York Additional report 

Pamplona Capital to take Parexel private for $4.5 billion

June 20, 2017 By Carl O’Donnell (Reuters) – U.S. pharmaceutical research services provider Parexel International Corp said on Tuesday it would be taken private by Pamplona Capital Management LLP in a $4.5 billion deal. Activist investors, including Starboard Value LP, have put pressure on Parexel to explore a sale, arguing that the company’s profit margins have consistently lagged those of its peers. Pamplona will pay $88.10 per share in cash for Parexel, representing a 5 percent premium to the stock’s Monday close. Parexel’s shares were trading at $87.67 before the…

Read More
Bengaluru Editing Business debt offer Sruthi Ramakrishnan 

Amazon to buy Whole Foods for $13.7 billion, wielding online might in brick-and-mortar world

June 16, 2017 By Lauren Hirsch and Jeffrey Dastin (Reuters) – Amazon.com Inc said on Friday it would buy Whole Foods Market Inc for $13.7 billion, in an embrace of brick-and-mortar stores that could turn the high-end grocer into a mass-market merchant and upend the already struggling U.S. retail industry. Amazon used aggressive pricing to become an e-commerce retail juggernaut and has recently been experimenting with brick-and-mortar outlets. It will take over a natural and organic grocer pioneer with 456 stores, a mecca for young, high-end shoppers, that has been…

Read More
Chairman Jose Carrion debt Economy PREPA Puerto Rico Top News 

U.S. lawmaker troubled Puerto Rico board slow to approve $9 billion power deal

June 15, 2017 By Nick Brown (Reuters) – The chairman of the U.S. congressional committee that oversees Puerto Rico on Thursday said the bankrupt island’s federal oversight board was dragging its feet on approving a $9 billion power utility restructuring. Utah Republican Rob Bishop, who chairs the U.S. House Committee on Natural Resources, said the board’s inaction was “troubling” in a letter to board Chairman Jose Carrion, adding that the debt restructuring at Puerto Rico’s power authority, PREPA, was already green-lit by Congress. Bishop’s gripe is over a deal struck…

Read More
attack cyber debt Money security Top News 

U.S. muni market slowly starts paying heed to cyber risks

June 14, 2017 By Hilary Russ NEW YORK (Reuters) – A rise in cyber attacks on U.S. public sector targets so far has had little impact in the $3.8 trillion municipal debt market, with no issuer as yet hit by a downgrade or higher borrowing costs because of a cyber security threat. That is beginning to change. S&P Global has begun to quiz states, cities and towns about their cyber defenses, and some credit analysts are starting to factor cyber security when they look at bonds. Moody’s Investors Service is…

Read More
Business case debt fraud New York-based 

Ex-Visium fund manager sentenced to 18 months after fraud conviction

June 14, 2017 By Brendan Pierson (Reuters) – A former portfolio manager at Visium Asset Management LP was sentenced to 18 months in prison on Wednesday following his conviction on securities fraud charges stemming from an investigation that led the New York-based hedge fund to close last year. Stefan Lumiere, 46, was sentenced by U.S. District Judge Jed Rakoff in Manhattan federal court, according to federal prosecutors. Prosecutors had said in a brief filed in court that they believed a sentence of up to 14 years would be appropriate. Lumiere’s…

Read More
debt Economy government recess September Mnuchin Top News 

U.S. federal government can pay bills through early September: Mnuchin

June 12, 2017 WASHINGTON (Reuters) – The U.S. federal government will have enough cash flow to pay its bills through at least early September despite the limit on more government borrowing, Treasury Secretary Steven Mnuchin said on Monday, while urging lawmakers to raise the debt limit soon. Mnuchin repeated his call for Congress to pass a bill authorizing further borrowing before lawmakers break for a long August summer recess. “I am comfortable saying that we can fund the government through the beginning of September,” Mnuchin told lawmakers in a hearing…

Read More
Facebook Auto Publish Powered By : XYZScripts.com