Closely-held private equity giant The Carlyle Group will be putting a valuing itself somewhere in the vicinity of $7 billion during an upcoming initial public offering, the Wall Street Journal reported late Sunday, a conservative assesment that takes into account some very recent developments in the private equity and IPO worlds.
Exxon Mobil Corporation (NYSE: XOM) and Rosneft (LON: ROSN) are expected to cement a historic deal on Monday that would allow Exxon access to Russia's Arctic reserves and catapult Rosneft on the global energy stage by granting it entry into North America, reported Reuters, citing sources familiar with the matter.
Citigroup's first-quarter earnings beat Wall Street estimates as expenses fell 7 percent from the 2011 fourth quarter.
South Korea's central bank has lowered the country's growth forecast for 2012 to 3.5 percent on account of the global economic slowdown that has resulted in the weakening of exports.
The Reserve Bank of India (RBI) is expected to ease rates when it announces the annual credit policy on Tuesday, in order to lift constraints on lending and in a response to the continued shortage of liquidity in the banking sector faced with a slow moving economy.
Temasek Holdings, the Singapore state-owned investment group, has agreed to buy $2.3 billion worth of shares in the Industrial and Commercial Bank of China (ICBC) from Goldman Sachs, a move that is seen as part of its strategy to increase investment in emerging economies.
Renowned French designer Phillippe Starck has revealed that he has been working with Apple on a revolutionary product that will be unveiled in the next eight months.
South Korea's central bank said Friday that it is keeping the key interest rate unchanged at 3.25 percent, subsequent to the inflationary pressures witnessed by the country.
Gold prices slipped below $1,670 an ounce on Friday, pausing in their biggest one-week rally since late February as the dollar firmed against key currencies, with the euro falling out of favour due to worries over Spain's financial health.
President Barack Obama announced Friday the creation of a new federal inter-agency group charged with ensuring the nation's natural gas resources are developed safely.
Analysts expect quarterly revenue of $19.85 billion, which would be a bump up from the $19.73 billion Citi posted a year ago. Net income is expected to be 99 cents a share, compared with $1 a share in the first quarter of 2011.
These countries have much bigger fish to fry than some wayward fishermen.
Cuba’s absence from the summit may be a point of contention.
The bank's quarterly profit totaled $5.38 billion, down from $5.56 billion a year earlier. That translated to $1.31 a share, compared with $1.28 a share as the number of shares outstanding declined.
Asian stock markets ended with gains for the second day Friday after North Korean's much touted long-range rocket launch failed.
Growth was 8.1 percent in the first quarter, the lowest since the same period in 2009, largely due to weak global demand and reduced investment in domestic real estate.
Risky assets rose on moderate volume and moderately bad news Thursday, as investors seemed to be placing a paradoxical bet that a slowdown in economic growth would jolt the U.S. central bank into action -- inflating the prices of stocks, commodities and other assets -- while at the same time assuming the slowdown would not be so harsh as to throw the current recovery completely off track.
Bonobos, the largest clothing brand launched on the Internet in the U.S., is stepping out from the digital realm and into Nordstrom stores nationwide.
The Fed is also well aware that employment had peaked in each of the past two springs before resuming growth late in the year.
Danish brewer Carlsberg is to sell most of a former Copenhagen brewery site to a group of investors for 2.5 billion Danish crowns.
After investigating suspicious packages at the World Financial Center, prompting officials to evacuate one of the buildings on Thursday, officials determined the parcels were harmless are allowing workers to return to their building
Police are currently investigating suspicious packages at the World Financial Center, prompting officials to evacuate one of the buildings on Thursday.
