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Showing posts with label DealBooK | DealB%K Afternoon Edition - Tuesday. Show all posts
Showing posts with label DealBooK | DealB%K Afternoon Edition - Tuesday. Show all posts

Aug 14, 2012

DealBooK | DealB%K Afternoon Edition - Tuesday, August 14, 2012: Deal Professor: In Silicon Valley, Finding the Next Big Thing in the Ordinary

Tuesday, August 14, 2012
Deal Professor: In Silicon Valley, Finding the Next Big Thing in the Ordinary Steven M. Davidoff says that while it may be revolutionary, Square is really just an example of what Silicon Valley has become: process and networking at its finest.
    Wells Fargo Settles Mortgage Investments Case for $6.5 Million Wells Fargo settled a case with the Securities and Exchange Commission involving investments in so-called asset-backed commercial paper that it sold to nonprofit groups, local governments and other investors. The agency said the bank sold toxic mortgage investments without researching the products or disclosing the risks to customers.
    Amid Insider Trading Inquiry, Tiger Asia Calls It Quits Tiger Asia, a spinoff of Julian Robertson's Tiger Management, says it will return investor money, as it continues to face an insider trading investigation by authorities in Hong Kong.
    Unimpressed by Micron's Offer, Elpida Bondholders Offer Alternative The group of American investment firms have provided an alternative plan, which includes a loan of 30 billion yen, or $380 million, to the Japanese chipmaker to help during its restructuring period.
    Safety-Kleen Files for an I.P.O. Safety-Kleen, which shelved an initial public offering in October 2008 at the height of the financial crisis, filed on Tuesday to go public.
    Heineken Faces Challenge Over Asian Brewer Thai Beverage has increased its stake in Fraser & Neave, the Singapore conglomerate that has agreed to sell its rights in Asia Pacific Breweries to Heineken for around $4.1 billion.
    Standard Chartered Settles Charges New York's top banking regulator reached a settlement on Tuesday with Standard Chartered over charges that the British bank laundered hundreds of billions of dollars in tainted money with Iran and deliberately lied to regulators, Jessica Silver-Greenberg reports in The New York Times. The bank agreed to pay $340 million to the state's Department of Financial Services, which is led by Benjamin M. Lawsky.
    HCA Creates a Windfall for Private Equity Profits at HCA, which controls 163 hospitals from New Hampshire to California, have soared in recent years, with the big winners being three private equity firms including Bain Capital. HCA's aggressive push for more revenue has sometimes led to conflicts with doctors and nurses over concerns about patient care, Julie Creswell and Reed Abelson report in The New York Times.
    Economic Reports The data released on Wednesday will include the Consumer Price Index for July and industrial production for July.
    Corporate Earnings Companies reporting results on Wednesday will include Deere, Limited Brands, Staples, Target and Cisco Systems.
    In the United States The judge in the bankruptcy case of the parent of American Airlines is expected to rule on whether the company can cancel contracts with unions that rejected its final offer.

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