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Twitter leaning toward NYSE for IPO

Posted by | September 25, 2013.

NEW YORK/SAN FRANCISCO (Reuters) – Social media network Twitter is leaning toward picking the New York Stock Exchange over Nasdaq for its highly-anticipated initial public offering, a person familiar with the matter said.

A report earlier on Tuesday by The Street said Twitter had already chosen the NYSE, but sources close to the exchanges told Reuters that Twitter has not made its decision yet.

Big Board parent NYSE Euronext, Nasdaq OMX Group and Twitter had no comment.
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Asia stocks up on good China, Europe economic data

Posted by | August 23, 2013.

BANGKOK (AP) – Asian stock markets rebounded Friday after encouraging economic data from China and Europe raised hopes that a global economic recovery was underway.

A survey released Thursday by HSBC Corp. indicated that manufacturing in China had expanded in August, the latest evidence that the world’s second-largest economy may be over its recent weakness. HSBC’s preliminary purchasing managers index rose to 50.1 from July’s 47.7 _ crossing the critical 50 threshold to indicate an expansion in activity.

“This should reassure even the most bearish that China has avoided a hard landing for now,” Qinwei Wang of Capital Economics wrote in an email commentary.
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Moody’s looks to trim bank ratings for less government support

Posted by | August 23, 2013.

Moody’s Investors Service said it might cut the credit ratings of major US bank holding companies, including JPMorgan Chase & Co and Goldman Sachs Group Inc, citing reduced chances that the government will fully bail out bond investors if the companies run into financial distress.

The announcement shows that regulators are making progress toward convincing financial markets that big banks may not be too big to fail.

Moody’s said in the announcement that it may also downgrade bonds of Wells Fargo & Co, and Morgan Stanley.
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Japanese stocks soar

Posted by | August 2, 2013.

Tokyo (dpa) – Japanese shares surged for the second consecutive trading day on Friday as export-oriented issues were boosted by the yen’s decline and overnight gains on Wall Street and European markets.

The benchmark Nikkei 225 Stock Average gained 460.39 points, or 3.29 per cent, to end at 14,466.16 while the broader-based Topix index was up 32.78 points, or 2.82 per cent, at 1,196.17.

For the week, the Nikkei rose 2.38 per cent and the Topix was up 2.49 per cent.
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Former Goldman Sachs banker found liable for deceiving clients

Posted by | August 2, 2013.

A former Goldman Sachs official was Thursday found liable for his role in a failed 1-billion-dollar investment in a civil case brought by the agency that oversees Wall Street.

The verdict against Fabrice Tourre, the former Goldman Sachs Group Inc vice president, was a victory for the US Securities and Exchange Commission and the US government in one of the most important legal judgements to come out of the 2007-2009 financial crisis.

The jury’s finding that Tourre was liable in six of seven claims could open the door to lawsuits by Goldman Sachs customers who lost money in connection with the investment.
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