"Obviously it's dilutive, but it's smarter than going out and having to pay a high premium for a preferred issuance."
Chief financial officer Gary Crittenden said in a statement that Citigroup had received "strong" interest in the public offering. via The Globe and Mail
- The Toronto stock market was negative Tuesday morning as oil and gold prices retreated and investors took in a slew of earnings reports, including well-received data from the likes of Rogers Communications Inc. (TSX:RCI.B) and Petro Canada (TSX:PCA).
New York indexes were flat after results from credit card issuer Visa failed to meet expectations and investors took in another helping of dreadful news from the housing sector.
Toronto's S&P/TSX composite index moved 66.8 points lower to 14,019.05 after dipping 18 points on Monday. Read more
MasterCard's profit more than doubled in the first quarter, the card processor said Tuesday, as more customers outside the United States used their credit and debit cards for purchases.
Cardholder spending within the United States rose, too, but at a more moderate pace, indicating that while Americans are increasingly turning to plastic in a weak economy, emerging markets are becoming especially lucrative for the industry.
The Purchase, N.Y.-based card company said Tuesday it earned $446.9 million, or $3.38 per share for the January to March period. That is up from $214.9 million, or $1.57 a share, in the same timeframe last year. Read more
US stocks ended little changed as setbacks for two drugs weighed down the pharmaceutical sector, offsetting the relief from a retreat in record high crude oil prices. via The Age
An In-Depth Look; Reaction with Paul Miller of Friedman Billings Ramsey via ClipSyndicate
"This does not really change our view that consumers are continuing to experience the strain of higher oil and food prices"
Confidence among U.S. consumers fell to a five-year low in April as they confronted the grimmest jobs outlook since late 2004 and they expect inflation to rival the levels last seen in the early 1980s, the ... via WNED.org
"An affiliate of Lone Star Funds today extended its agreement to sell its 51.02 percent interest in Korea Exchange Bank to an affiliate of HSBC Holdings plc ("HSBC")"
HSBC on Tuesday extended the deadline on a $6.3 billion offer to buy control of Korea Exchange Bank from U.S. private equity fund Lone Star, both firms said. via Reuters UK
Agencies Posted online: Tuesday , April 29, 2008 at 1407 hrs IST Mumbai, April 29: The Bombay Stock Exchange benchmark Sensex extended its gains by 408 points at mid-session on Tuesday, backed by banking ... via Express India
"In the first quarter of this year, financial market conditions were the most difficult in recent memory. In March, pressure on the banking sector was more intense than at any time since the current credit downturn began."
This article was first published on guardian.co.uk on Tuesday April 29 2008. It was last updated at 10:06 on April 29 2008. via Guardian Unlimited
China's stocks decline: China Life, Sinopec, fall on earnings; Investor Jim Rogers buys Chinese shares as market hits 'bottom'; Thai Stock Exchange expects more foreign investors this year; Lira goes from first ... via ClipSyndicate
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