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Jul 5, 2011

Western Union to buy Travelex unit for about $970 million

BANGALORE (Reuters) – Western Union Co (WU.N: Quote, Profile, Research, Stock Buzz), the world’s largest payment transfer company, said it agreed to buy Travelex’s Global Business Payments division for about 606 million pounds ($968.7 million), to expand its international business payments services.

The transaction, Western Union’s first major deal since Hikmet Ersek took over as CEO last year, is expected to boost the company’s global business payments segment, which contributed 14 percent of the company’s overall revenue last year.

Jun 24, 2011

KiOR IPO prices at $15, raises 25 percent less

NEW YORK/BANGALORE (Reuters) – Biofuels maker KiOR Inc (KIOR.O: Quote, Profile, Research, Stock Buzz) priced its initial public offering on Thursday, but raised 25 percent less than expected, the latest company to struggle amid U.S. economic uncertainty.

KiOR, which uses non-food biomass such as wood chips and switch grass to make crude oil, sold 10 million shares for $15 each.

Jun 23, 2011

FIS confirms approach for UK’s Misys

BANGALORE/LONDON, June 23 (Reuters) – Payment services
provider Fidelity National Information Services Inc
confirmed that it had approached Misys with a deal,
which analysts said could value the U.K.-based financial
software company at $2.4 billion.

A deal with Misys — a provider of software to banks, fund
managers and traders — could further beef up FIS’ growing
international operations and help it break out of its maturing
U.S-focused market.

Jun 9, 2011

Fusion-io soars in debut as appetite for tech cos rages

BANGALORE (Reuters) – Shares of Fusion-io Inc (FIO.N: Quote, Profile, Research, Stock Buzz), which makes storage memory hardware and software for data centers, soared 34 percent in their market debut, as the rush to snap up technology start-ups showed no signs of waning.

Fusion-io’s shares sold for an IPO price of $19 apiece, but Thursday’s opening price of $25 a share values the company at about $1.95 billion. The company had originally planned to sell shares in the $16-$18 range.

May 19, 2011

Florida AG says investigating 5 prepaid debit card companies

By Brenton Cordeiro

(Reuters) – The Florida Attorney General’s office said it was investigating prepaid debit card companies — First Data Corp, Green Dot Corp, Account Now Inc, NetSpend Corp and Unirush Financial Services LLC — for possible deceptive and unfair practices.

The Attorney General’s Economic Crimes Division also issued a series of subpoenas regarding possible hidden fees on prepaid debit cards.

May 19, 2011

Florida AG says investigating 5 prepaid debit card cos

May 19 (Reuters) – The Florida Attorney General’s office
said it was investigating prepaid debit card companies — First
Data Corp, Green Dot Corp , Account Now Inc, NetSpend
Corp and Unirush Financial Services LLC — for possible
deceptive and unfair practices.

The Attorney General’s Economic Crimes Division also issued
a series of subpoenas regarding possible hidden fees on prepaid
debit cards.

May 13, 2011

BATS files for IPO, as exchanges M&A intensifies

BANGALORE (Reuters) – BATS Global Markets, the third-largest U.S. exchange operator, filed on Friday for an IPO amid a frenzy of consolidation across the industry, including the acquisition of bigger rival NYSE Euronext (NYX.N: Quote, Profile, Research, Stock Buzz).

German exchange operator Deutsche Boerse (DB1Gn.DE: Quote, Profile, Research, Stock Buzz) is battling a joint NASDAQ OMX Group (NDAQ.O: Quote, Profile, Research, Stock Buzz) and ICE (ICE.N: Quote, Profile, Research, Stock Buzz) hostile bid for NYSE Euronext. Separately, Canada’s TMX Group (X.TO: Quote, Profile, Research, Stock Buzz) is tying up with the London Stock Exchange (LSE.L: Quote, Profile, Research, Stock Buzz).

May 12, 2011

Goldman shares fall on analyst cuts, reports

NEW YORK/BANGALORE (Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) shares were down 3.2 percent on Thursday afternoon after two analysts downgraded the stock and press reports questioned whether a Senate investigation will threaten the bank’s reputation.

A Bloomberg poll of 1,263 traders, investors and analysts released on Thursday showed that 54 percent now hold a negative opinion of the company, which is facing regulatory probes, lawsuits and negative public scrutiny.

May 12, 2011

Goldman shares fall 4.9 pct amid legal woes

NEW YORK/BANGALORE, May 12 (Reuters) – Goldman Sachs Group
Inc (GS.N: Quote, Profile, Research, Stock Buzz) shares fell as much as 4.9 percent on Thursday after
two analysts downgraded the stock and press reports said the
bank’s profits and reputation might suffer.

A Bloomberg poll of 1,263 traders, investors and analysts
showed 54 percent hold a negative opinion of the bank, which is
facing regulatory probes, lawsuits and public scrutiny.

May 9, 2011

LinkedIn IPO price values company at over $3 billion

NEW YORK/BANGALORE (Reuters) – LinkedIn Corp, the social site for business professionals, is hoping to cash in with investors eager to gobble up shares in sites such as Facebook, with a public debut valuing the company at more than $3 billion.

LinkedIn, which attracts professionals and job seekers with 100 million worldwide members, said on Monday it would offer 7.84 million shares priced between $32 and $35 apiece. It is generating significant interest as one of the first social networking companies to start the process of being publicly traded — ahead of the much-anticipated Facebook IPO.

    • About Brenton

      "I’m currently Editor-in-Charge for UK company news in Bangalore, overseeing the coverage of mid-cap and small-cap UK companies. Previously, I was the Deputy Editor-in-Charge of the Headline News team in Bangalore, which is responsible for sending news alerts for all the major publicly listed companies in North America. I also worked with the finance team in Bangalore covering IPOs, and mid-cap and small-cap U.S. financial companies."
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