Search Results for: BNY
AbbVie-Shire Deal Is Expected, in a Flight to a Lower-Tax Locale
July 18th, 2014
The biggest deal of the year is set to be announced on Friday morning, as the pharmaceutical giant AbbVie plans to announce a $53 billion acquisition of Shire, according to people briefed on the matter. The deal will allow ...
Profit Surges at Morgan Stanley
July 17th, 2014
Morgan Stanley said on Thursday that its second-quarter earnings surged, driven largely by growth in the firm’s wealth management operations and by strong performances in investment banking and equity sales. Excluding certain charges relating to its debt and a ...
Despite Exposure of Madoff Fraud, New Ponzi Schemes Emerge
July 11th, 2014
When the money was rolling in from investors, Scott W. Rothstein, a lawyer in Fort Lauderdale, Fla., bought his wife, Kimberly, more than $1 million in jewelry, including an opulent 12-carat yellow diamond ring. He lived in a multimillion-dollar ...
State Street Agrees to Settle Forex Fee Suit for $60 Mln
July 10th, 2014
State Street Corp. (STT) agreed to pay $60 million to settle investor claims it inflated revenue by overcharging clients for foreign-exchange services, in a pact that resolves almost four years of litigation. The preliminary accord filed in Boston federal ...
In Deal to Cut Corporate Taxes, Shareholders Pay the Price
July 9th, 2014
Medtronic is pursuing a deal to move abroad and save taxes. But few have noticed that the company’s shareholders will be the ones left with a big tax bill as a result. Oddly, some of Medtronic’s largest shareholders — ...
Commerzbank Shares Fall on News of Settlement Talks
July 8th, 2014
Shares in Commerzbank fell about 3.5 percent on Tuesday following news that Germany’s second-largest lender could be the latest European institution to settle with the American authorities over suspicions that it violated sanctions. The broader German stock market was ...
Argentina Tests U.S. Court Order by Posting Interest Payment
June 27th, 2014
Argentina is challenging U.S. Courts to enforce a ruling that will block $539 million of an interest payment and trigger a new bond default. Economy Minister Axel Kicillof said the South American nation complied with its foreign debt obligations ...
Six banks sued over trustee roles
June 19th, 2014
A group of big investors including Blackrock and Pimco are suing six different banks including Deutsche Bank and HSBC for their role as trustees of mortgage-backed securities in the lead up to and during the financial crisis. In six ...
FCA warning for clone firm
May 8th, 2014
The Financial Conduct Authority (FCA), the British financial regulatory authority, has issued a warning informing the investors that “BNY Mellon Wealth Management” is a clone firm thus is not permitted to provide any financial services or products. Furthermore, FCA points ...
Northern Trust Reports SEC Subpoena on Securities Lending
April 29th, 2014
Northern Trust Corp. (NTRS), the third-biggest independent custody bank, said it received a subpoena from the U.S. Securities and Exchange Commission in April related to the company’s securities lending. “Northern Trust will fully cooperate with the SEC in this ...
