finance – News Stories About finance - Page 6

Murdoch Muses On Plans for The Journal

May 4, 2007 8:39 AM CDT

Murdoch Muses On Plans for The Journal

“I’m sometimes frustrated by the long stories," would-be owner says

(Newser) - Rubert Murdoch sometimes finds Wall Street Journal stories a little long. He'd like to see more politics on the editorial page, and to launch a glossy magazine for the Saturday edition. The Aussie tycoon wasn't shy about sharing plans for the paper, should he succeed in buying parent company Dow...

Loan Giant Sallie Mae Goes Private

Apr 17, 2007 8:37 AM CDT

Loan Giant Sallie Mae Goes Private

Nation's largest student lender is sold for $25 billion

(Newser) - A group of investors is buying student lending giant Sally Mae for $25 billion, even as Capitol Hill debates reducing federal subsidies for student loans. The company—which began as a quasi-public agency—will be taken private by Bank of America, JPMorganChase, and private equity houses J. C. Flowers and...

Inside the Citadel: Hedge Fund Giant
Mulls IPO

Apr 16, 2007 10:39 AM CDT

Inside the Citadel: Hedge Fund Giant Mulls IPO

Founder Ken Griffin gets cozy with Portfolio

(Newser) - Portfolio magazine debuts with a look inside Citadel Investment Group, the $13.5 billion Chicago hedge fund that's even more press-shy than most of its brethren. A rare chat with founder Ken Griffin reveals that he's thinking of taking Citadel public —which the magazine notes could be the biggest...

Stocks Swing on CEO House Size

Apr 13, 2007 1:55 PM CDT

Stocks Swing on CEO House Size

(Newser) - Don't buy stock in a company whose CEO lives in a huge house, a new study says. CEOs who move into regular-sized digs —5,600 square feet for the typical company head — see their company's stock jump an average 6% the following year. Those who go palatial...

Citigroup Cuts 17,000 Jobs

Apr 12, 2007 9:47 AM CDT

Citigroup Cuts 17,000 Jobs

Investors demanded downsizing; now the pressure's on raising revenue

(Newser) - Citigroup will cut 17,000 jobs in an attempt to close the gap between its revenue, up 7% last year, and its expenses, up 15%. The two-year cost-cutting plan comes after shareholders demanded major changes, but analysts agree that lowering expenses is only the first step. Upping revenue is the...

Nasdaq Options Philly Mart

Apr 11, 2007 3:59 PM CDT

Nasdaq Options Philly Mart

Eyes exchanges options business

(Newser) - The tech-heavy Nasdaq exchange is looking to expand into the options-trading market, and it's in talks with the Philadelphia Stock Exchange about a possible merger. Nasdaq's bid to buy the third-largest options trading exchange, valued at up to $300 million, comes as a number of bigger exchanges are on the...

Tax Code Spurs Llamapalooza

Apr 5, 2007 9:29 AM CDT

Tax Code Spurs Llamapalooza

The upper crust is using alpaca farming as a huge tax write-off

(Newser) - Some very ulikely agrarians—doctors, lawyers, computer programmers—have spurred a huge boom in alpaca farming in the last few years, not for the profits, of which there are rarely any, but for the huge tax write-offs. "What can't I write off?" Manhattanite Rob Bruce says. "I write...

Sloan Reviews
the Blackstone IPO Filing

Mar 26, 2007 7:50 AM CDT

Sloan Reviews the Blackstone IPO Filing

Not quite financial porn, but some revealing moments

(Newser) - The IPO filing for the notoriously secretive Blackstone Group wasn't the tell-all Wall Street watchers had hoped for, says Newsweek’s Wall Street editor Allan Sloan, who searched in vain for how big a stake is held by the private equity partnership's two Mr. Bigs, Steve Schwarzman and Pete...

Financial Action Flees
to London

Mar 20, 2007 7:24 AM CDT

Financial Action Flees to London

Goldman Sachs is now doing as much business abroad as on Wall Street

(Newser) - Wall Street’s position as the center of the financial universe—unchallenged for more than a century—is under serious threat from the City of London, according to John Gapper. London is catching up with Gotham in bond trading, already ahead in derivatives and the place to be for really...