Yahoo investor ire not seen triggering proxy fight
“The bottom line is that shareholders need some new representation”
Yahoo investors who wanted to accept a Microsoft buyout are not seen as likely to try to oust the board, and instead seem to be channeling their ire through lawsuits and a campaign to turn July's annual meeting ... via Reuters
Comment?Related Topix: Legg Mason, Investment Services, Microsoft, Software, Startups, Yahoo!, Media, Computers, Search Engines
Power Corporation of Canada raising dividend despite lower investment gains
- Power Corporation of Canada (TSX:POW) is raising its quarterly dividend by 20 per cent, the holding company announced Friday along with its first-quarter financial report, which included higher net income despite lower investment gains
The dividend to be paid on Power Corp.'s participating preferred and subordinate voting shares will rise by 4.875 cents per share to 29 cents per share per quarter, or $1.16 on an annualized basis.
Net income was $376 million or 80 per share in the first quarter compared with up from $363 million or 78 per share in the first quarter of 2007, with the increase due to $72 million or 16 cents per share from non-operating earnings at Power Financial, its main subsidiary. Read more
9 hrs ago | BNET
Mortgage Credit Losses Could Total $500 Bln: Goldman
“If anything, they may come under pressure to ease further, though at present this is not our base case.”
Goldman Sachs economists expect a total of $500 billion in residential mortgage credit losses, a renewed slowdown in economic activity after the near-term boost from fiscal stimulus, and no monetary policy ... via BNET
13 hrs ago | The Indian Express
Subprime-hit Citigroup to sell $500 bn assets in 2-3 years
“During the first quarter, valuations of our subprime related exposures in fixed income markets and leveraged finance assets have further declined and credit costs in our consumer lending businesses have increased”
New York, May 9: Global banking giant Citigroup Inc, which has been battered by the subprime crisis, plans to sell assets worth $500 billion in the next two to three years. via The Indian Express
18 hrs ago | The Associated Press | Posted by The Associated Press
Haiti's PM nominee sees no quick fixes
“I told (Preval) not to put my name forward if my chances were not at least good”
An international banker nominated to be Haiti's next prime minister said Friday that Haiti must concentrate on long-term strategies to help the millions pushed deeper into misery by higher food prices.
In an interview with The Associated Press, Ericq Pierre promised to back President Rene Preval's far-reaching plans to address soaring prices, increase national food production and create jobs.
Pierre, a senior official with the Inter-American Development Bank, said it will take decades for the country to build up the revenues and resources needed to address the poverty and high prices that sparked deadly riots in April. Read more
22 hrs ago | Honolulu Star-Bulletin
Fitch downgrades Central Pacific Financial
“We expect a number of these sales to be completed in the coming months”
Central Pacific Financial Corp. 's bond ratings outlook has been downgraded to "negative" from "stable" by Fitch Ratings . via Honolulu Star-Bulletin
Yesterday | Reuters
VIDEO: Citigroup unveils turnaround plan
Citigroup's new CEO Vikram Pandit said the company will shed $400 billion in assets as he moves to lead America's largest bank back to profitability. via Reuters
Yesterday | KansasCity.com
Feds free up cash for H&R Block
HR Block Inc. said the Office of Thrift Supervision has rescinded a requirement that Block hold 3 percent of its tangible capital assets in reserve to provide an extra measure of safety for its HR Block ... via KansasCity.com
Yesterday | The Associated Press | Posted by The Associated Press
Federal regulators close Arkansas bank ANB Financial
Federal regulators says they've closed ANB Financial National Association banks after discovering 'unsafe and unsound' business practices there.
David Barr, a spokesman for the Federal Deposit Insurance Corp. says many customers served by the bank's nine locations had accounts under $100,000, which will be fully insured by the government. Barr says customers can continue to write checks and draw money from ATMs through the weekend.
Barr says Pulaski Bank and Trust Co. agreed to assume control over ANB Financial's bank locations, which will be open Monday. Read more
Friday | Reading Eagle/Reading Times
Icahn prepared to buy Circuit City if Blockbuster can't
“While it is our hope that the due diligence process will reinforce both the strategic and financial rationale behind the deal, we are committed to only doing a transaction that provides substantial benefits for our shareholders”
Icahn prepared to buy Circuit City if Blockbuster cannot get financing, shareholder approval NEW YORK - Consumer electronics retailer Circuit City Stores said Friday that it will allow Blockbuster to review its ... via Reading Eagle/Reading Times
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