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Global Investing News: Barclays (BCS), Sun Times Media (SUTM), Apollo Global (APOL) and Google (GOOG)
Consumer Confidence Hovers Near Low; Peru Stock Market Turns a 180; Air Canada Changes Direction; Barclay’s Holding iShares Sale Talks; Mexico Wants $40 Billion from IMF; Second Chicago Paper Goes Bust; Private Equity Firms May Invest in “Toxic†Assets; Google Forms Venture Capital Arm
- U.S. consumer confidence, as measured by the Conference Board’s sentiment index, clocked in at 26.0 in March, up from the upwardly revised 25.3 in February. “Apprehension about the outlook for the economy, the labor market and earnings continues to weigh heavily on consumers’ attitudes,†Lynn Franco, director of the industry group’s Consumer Research Center, told Reuters. “More…
Barclays Attemps to Avoid Government Ownership, Offloads Trillions in Assets
Barclays PLC (ADR: BCS) today (Monday) confirmed that it is trying to sell its iShares unit, and is talking to a handful of potential suitors.
In the same release, U.K.-based Barclays also said it is talking with the Treasury and Financial Securities Authority about possible participation in the government’s Asset Protection Scheme, an insurance program that promises to back bank’s riskiest assets – specifically, those backed by mortgages and loans. But if Barclay’s is able to sell its iShares unit itself the additional costs associated with a government stake.
Barclays’ rivals Royal Bank of Scotland Group PLC (ADR: RBS) and…
17Mar2009 | Money Morning | 0 comments | ContinuedGoldman Weathers Storm, Barclays Bargain Hunts
Goldman Sachs Group Inc. (GS) and Barclays PLC (BCS) yesterday (Tuesday) continued to avert the perils posed by the economic catastrophe that has ensnared the financial sector, as the former reported earnings that, again, topped Wall Street estimates and the latter endeavored to pick apart the remains of the languishing Lehman Bros. Holdings Inc. (LEH).
Third-quarter profit at Goldman Sachs fell 70% to $845 million, or $1.81 a share, from $2.85 billion, or $6.13 a share, a year earlier. The three months ended Aug. 29 amounted to the worst quarter for the firm since it went public in 1999, but results still managed…
17Sep2008 | Money Morning | Comments Off | Continued
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