BANK OF AMERICA TO PAY NEARLY $17 BILLION IN JUSTICE DEPARTMENT SETTLEMENT
Bank of America Corp. is expected to pay nearly $17 billion to
settle U.S. Department of Justice accusations it packaged shoddy
mortgages into securities and sold them to investors in the run-up
to the financial crisis, according to a person familiar with the
negotiations. (published 1847 GMT Wednesday)
TARGET LOWERS OUTLOOK, NEW CEO STRESSES URGENCY TO FIX ISSUES -- 3RD UPDATE
Target Corp. cut its outlook for the second time this year as
traffic at its stores fell again, even though the discounter ramped
up promotions to bring shoppers in. (published 2324 GMT
Wednesday)
CARL ICAHN TAKES 8.5% STAKE IN HERTZ -- 2ND UPDATE
Activist investor Carl Icahn on Wednesday disclosed an 8.5%
stake in Hertz Global Holdings Inc. and said he may seek board
representation. (published 2322 GMT Wednesday)
H-P POSTS SURPRISE REVENUE INCREASE -- 2ND UPDATE
Hewlett-Packard Co. investors have been waiting for a
long-promised revival. They finally got a glimmer of reward.
(published 2316 GMT Wednesday)
PRIVATE-EQUITY FIRMS PURSUE BUYOUT OF AMERICAN TIRE -- UPDATE
A handful of private-equity firms are vying to buy American Tire
Distributors Holdings Inc. in an auction that could fetch more than
$3 billion, according to people familiar with the matter.
(published 2239 GMT Wednesday)
UPS WARNS OF DATA BREACH AT UPS STORES -- UPDATE
United Parcel Service Inc. said Wednesday that a data breach at
51 of its UPS Stores may have compromised data on approximately
105,000 customer transactions between January and August.
(published 2313 GMT Wednesday)
ORIGIN ENERGY ANNUAL PROFIT HIT BY WEATHER
Origin Energy Ltd., Australia's biggest electricity retailer by
customers, posted weaker annual earnings after unseasonably mild
weather crimped household energy use and intensifying competition
eroded margins. (published 2357 GMT Wednesday)
ASX PROFIT JUMPS ON IPO SURGE
ASX Ltd.'s full-year earnings rose 10% thanks to a rebound in
capital raisings as private-equity firms and others floated assets
on Australia's main stock exchange, while the global economic
recovery continued to gather pace. (published 2348 GMT
Wednesday)
TREASURY WINE RESULT TAKES HEAT OUT OF BID BATTLE
Australia's Treasury Wine Estates Ltd. (published 2335 GMT
Wednesday)
JA SOLAR SWINGS TO PROFIT ON SURGE IN SHIPMENTS -- UPDATE
JA Solar Holdings Co. said rising sales of solar panels made it
profitable in the second quarter, but the company's results still
missed analysts' expectations and the stock price fell more than
6%. (published 2334 GMT Wednesday)
ALUMINA LOSSES WIDEN ON SMELTER CLOSURE, WEAK PRICES
Alumina Ltd. said losses widened in its fiscal first half as it
faced one-off costs from the closure of the Point Henry smelter in
Australia's Victoria state and sustained weakness in alumina
prices. (published 2314 GMT Wednesday)
PANAUST SAYS TAKEOVER TALKS ONGOING, PROFITS FALL
PanAust Ltd., reporting a 28% fall in half-year profit, said
takeover talks with China's Guangdong Rising Assets Management were
continuing but that it had yet to receive a formal offer it could
recommend to shareholders. (published 2313 GMT Wednesday)
ASCIANO PROFIT DROPS ON RESTRUCTURING COSTS
Australian rail-and-ports operator Asciano Ltd. said full-year
profit fell 24% as restructuring costs and a cooling
mining-investment boom more than offset an increase in the volume
of items from coal to cars that it helped transport. (published
2249 GMT Wednesday)
PORT OF TAURANGA 2014 UNDERLYING NET PROFIT NZ$78.3M, +1.3% ON YEAR
Port of Tauranga Thursday said its full-year net profit was
lower due to a one-off gain in the prior year but its underlying
net profit hit a net record. (published 2239 GMT Wednesday)