UPDATE 2-LendingClub forecasts bigger-than-expected 1st-qtr loss

() – Online lender LendingClub Corp forecast a bigger-than-expected first-quarter loss on Tuesday, and revenue that missed Wall Street estimates, sending its shares down 5 percent in after-market trading. FILE PHOTO: A Lending Club banner hangs on the facade of the the New York Stock Exchange in New York, New York, United States December 11,

Australia’s Stockland Corp HY profit plunges amid housing downturn

Feb 20 () – Diversified property company Stockland Corporation Ltd on Wednesday posted a 56 percent drop in half-year net profit due to cooling housing markets and intensifying competition in the retail sector. Net profit after tax attributable for the six months ended Dec. 31 came in at A$300 million ($214.92 million), down 56.2 percent

UPDATE 1-LendingClub forecasts bigger-than-expected 1st-qtr loss

FILE PHOTO: A Lending Club banner hangs on the facade of the the New York Stock Exchange in New York, New York, United States December 11, 2014. /Brendan McDermid/File Photo() – Online lender LendingClub Corp forecast a bigger-than-expected first-quarter loss on Tuesday and revenue that missed Wall Street estimates, sending the company’s shares down 9

U.S. watchdog proposes ‘testing waters’ before public offerings

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington, June 24, 2011. /Jonathan Ernst WASHINGTON () – The U.S. Securities and Exchange Commission (SEC) proposed on Tuesday to expand a rule that allows companies to sound prospective investors out privately before going public. The

Is high finance growing a social conscience?

LONDON (Thomson Foundation) – Financiers who turnaround companies by injecting them with capital are increasingly considering the environmental and social impact of their investments, according to a survey published today by consulting firm PwC. The survey found a growing cohort of these financiers, called private equity firms, have embraced this ethical investment strategy, known as

Lebanon nominates challenger to Trump’s choice to lead World Bank

FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund – World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. /Johannes P. Christo/File PhotoWASHINGTON () – Lebanon has nominated investment banker Ziad Hayek as a candidate for president of the World Bank, mounting the first

UPDATE 2-Allergan should explore selling itself – Appaloosa’s Tepper

() – Billionaire hedge fund manager David Tepper stepped up pressure on Allergan Plc, saying on Tuesday the drugmaker should consider selling itself if management is unable to turn around recent lagging performance. FILE PHOTO: David Tepper, founder of Apploosa Management, speaks during the Sohn Investment Conference in New York May 4, 2015. /Brendan McDermidTepper’s

UPDATE 1-Carl Icahn urges Caesars Entertainment to sell itself

FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network’s Neil Cavuto show in New York, U.S. on February 11, 2014. /Brendan McDermid/File Photo() – Activist investor Carl Icahn on Tuesday urged Caesars Entertainment Corp to sell itself, after disclosing a 9.78 percent stake in the U.S. casino operator. « Board should conduct

Palestinians’ lawsuit in U.S. vs Adelson, others is revived

() – A U.S. appeals court has revived a $1 billion lawsuit by Palestinians seeking to hold billionaire Sheldon Adelson and more than 30 other pro-Israel defendants liable for alleged war crimes and support of Israeli settlements in the West Bank, East Jerusalem and the Gaza Strip. FILE PHOTO: Casino magnate and Republican political contributor

Analyst voices concern over Jaguar Land Rover’s financial future

Concerns have been raised about Jaguar Land Rover’s financial situation going forward after the firm announced losses for the final quarter of 2018.Earlier this month the Coventry car maker reported pre-tax losses of £273m for the three-month period. In addition, sales were down by almost 10,000 vehicles for the same period compared to 2017. Jaguar

Appaloosa’s Tepper says Allergan should consider selling itself

Feb 19 () – Billionaire hedge fund manager David Tepper said on Tuesday Allergan Plc should consider selling itself if its management is unable to turn around recent lagging performance, stepping up pressure on the drugmaker. “If in fact the Board is unable or unwilling to hold management accountable for its shortcomings or find a

Aviva, NatWest to join ‘Brexodus’ of business to EU

LONDON () – England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds ($11.69 billion) in assets to a new Irish company just before the starting gun is fired on Brexit. FILE PHOTO: A man walks past an AVIVA logo outside the company’s head office in the

Artemis Investment Management names new partners

() – Artemis Investment Management LLP said on Tuesday it had named Nick Shenton and Andy Marsh partners, effective immediately. Shenton, who joined the investment firm in 2012, has more than 16 years of experience as a fund manager. Marsh served at Polar Capital as a partner for 11 years before joining Artemis in February

European lawmakers say NordLB rescue may involve state aid, urge EU probe

BRUSSELS () – The recapitalization of Germany’s NordLB bank should be investigated by the European Commission as it likely involved state aid that might have violated European Union rules, two EU lawmakers said on Tuesday. FILE PHOTO: European Competition Commissioner Margrethe Vestager attends the weekly College of Commissioners meeting in Brussels, Belgium, Februray 6, 2019.

Greek central bank head asks government to rein in minister

ATHENS () – Greek central bank governor Yannis Stournaras called on the government on Tuesday to rein in a minister who he said had tried to interfere with the bank’s independence when he phoned him about inquiries into a bank loan the minister had received. FILE PHOTO: Bank of Greece Governor Yannis Stournaras speaks during

MTN faces more problems in Uganda as authorities query its sales figures

KAMPALA, Feb 19 () – Uganda accused the country’s biggest telecoms operator, MTN Uganda, on Tuesday of underdeclaring its sales and causing public revenue losses, in a further souring of relations with the South African-owned company. Uganda deported MTN Uganda’s Chief Executive Wim Vanhelleputte last week, the fourth MTN official to be expelled from the

UPDATE 2-May heads to EU on Wednesday to push for Brexit breakthrough

BRUSSELS () – Prime Minister Theresa May will meet top EU official Jean-Claude Juncker in Brussels on Wednesday, pressing on with efforts to find a way to get their Brexit deal through Britain’s parliament. FILE PHOTO: British Prime Minister Theresa May meets with European Commission President Jean-Claude Juncker to discuss Brexit, at the EU headquarters

Cyber security provider Palo Alto to buy Demisto for $560 mln

() – Cyber security company Palo Alto Networks Inc said on Tuesday it would buy U.S.-Israeli information security firm Demisto Inc for $560 million in cash and stock. Demisto, founded in 2015 by four McAfee executives, develops and markets automation tools for information security management, including a chatbot that assists in handling tasks. Last October,

UPDATE 2-Estonia shuts Danske Bank branch at heart of money laundering saga

TALLINN/LONDON () – Estonia ordered Danske Bank to close its local branch within months on Tuesday, as Estonian and Danish regulators faced an EU inquiry into their efforts to prevent one of the largest-ever money laundering scandals. FILE PHOTO: A Danske Bank sign on a building in Copenhagen, Denmark, September 27, 2018. /Jacob Gronholt-Pedersen/File Photo

RPT-Mexico pushes mobile payments to help unbanked consumers ditch cash

(Repeats for additional clients with no changes to text) By Stefanie Eschenbacher and Anna Irrera MEXICO CITY/NEW YORK, Feb 19 () – Mexico’s new leftist government is betting on financial technology to help lift people out of poverty. The administration of President Andres Manuel Lopez Obrador recently announced measures aimed at making financial services more