Private equity firm TPG has hired three banks to lead manage an IPO of Australia's top department store Myer Group, sources with direct knowledge told Reuters on Tuesday, valuing Myer at about $2.1 billion. The IPO, the biggest initial public offer on the Australian stock exchange since the credit crisis took hold two years ago, underscores a return of confidence in the market and heralds a wave of new listings.
The Aussie dollar experienced little in the way of volatility during yesterday's local trading day bouncing between 0.8350 and 0.8375 for the majority of the Asian session.
A federal judge on Tuesday ordered the U.S. Securities and Exchange Commission to do a better job of explaining why it did not pursue allegations that Bank of America Corp lied in its proxy statement about its approval of bonuses for Merrill Lynch & Co employees.
Germany believes the management of General Motors Co is still committed to finding a buyer for its European unit Opel, government officials said on Tuesday after talks with the U.S. automaker in Berlin.
U.S. mortgage-backed securities risk premiums are about a half-percentage point below where they would be if it were not for massive buying from the Federal Reserve, Amherst Securities said on Tuesday.
U.S. stocks rose on Tuesday as economic data and the renomination of Federal Reserve chief Ben Bernanke reassured investors and offset concerns about red ink in the federal budget.
Israeli Prime Minister Benjamin Netanyahu said Tuesday he was seeking a formula to enable renewed talks with the Palestinians while permitting Jewish settlers to live normal lives.
Toronto's main stock index finished the session higher on Tuesday on strength in financial
shares after Bank of Montreal (BMO.TO) kicked off quarterly earnings results for Canada's big banks with a surprisingly strong performance.
Mexico's peso weakened on Tuesday on doubts that stock markets will keep rising because of worries about the strength of a global economic recovery. The peso MXN=MEX01 lost ground for the second straight session, weakening 0.54 percent to 13 per U.S. dollar.
U.S. President Barack Obama nominated Ben Bernanke as chairman of Federal Reserve to a second term on Tuesday.
Cash crude differentials weakened sharply Tuesday on the last day of dealing for September cargoes, as traders scrambled to unload grades. Mars sour MRS- dealt for $3.00 a barrel below West Texas Intermediate CLc1, down from -$2.00 on Monday. Light Louisiana Sweet LLS- traded for $2.00 a barrel above WTI, down from as much as +$2.90.
More than half the employers in a new poll say they plan to hire full-time employees in the next 12 months, according to research released on Tuesday that could spell relief for unemployed U.S. workers.
Oil prices fell 3 percent on Tuesday as dealers rushed to take profits from a rally that had culminated in a 10-month peak earlier in the day.
More than half the employers in a new poll say they plan to hire full-time employees in the next 12 months, according to research released on Tuesday that could spell relief for unemployed U.S. workers.
YouTube, the world's most popular video sharing site, said on Tuesday it will start sharing advertising cash with users who upload the most popular clips of everything from skateboarding dogs to dancing babies.
Autodealer Cliff Johnson sold 70 vehicles under the government's cash-for-clunkers program, which offered rebates of up to $4,500 to trade in older gas guzzlers.
U.S. stocks rose on Tuesday as economic data and the renomination of Federal Reserve chief Ben Bernanke reassured investors and offset concerns about red ink in the federal budget.
U.S. President Barack Obama nominated Ben Bernanke to a second term as Federal Reserve chairman on Tuesday, aiming for continuity at a time when the U.S. economy is breaking free from a deep recession.
A common gene variation explains why many people are not helped by the widely prescribed blood thinner Plavix, U.S. researchers said on Tuesday in a study confirming earlier research and paving the way for tests to screen patients before they get the drug.
Chile's peso closed weaker against the U.S. dollar on Tuesday, dragged down by profit-taking, while stocks opened higher on rising global bourses, traders said.
Google is once again under scrutiny again for its Google Maps Street View service.
People who've traveled through Africa almost always say it was an amazing and unforgettable experience, yet most others are still either scared or disinterested.
