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The Fed Approves 14 Capital Return Plans. The Federal Reserve has approved the capital return plans of 14 banks of the largest 18 banks. The two that where rejected are Ally Bank and BB&T ( BBT). The Fed also gave their conditional approval to Goldman Sachs (GS) and JPMorgan (JPM). -
Heinz to Issue Debt. Reports say that Heinz ( HNZ) will offer $2.1 billion worth of bonds and take $12 billion in loans to assist its acquisition by 3G Capital and Berkshire Hathaway (BRK.A/BRK.B). The company believes that the 7.5 year senior notes will go to market in the next few of wee
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Google Doubles Cloud Effort. Reports say the internet giant Google ( GOOG) is doubling the its office space near Seattle and that they are actively hiring cloud-technology engineers. The company will go head to head with Amazons’ (AMZN) Web Services and Microsoft's (MSFT) Azure. Up
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Hostess Brands Sold. Yesterday bids to buy bankrupt Hostess Brands where due by 5:00 pm and only one bid was submitted. Hostess will sell its snack-cake business to bidders Apollo Global Management ( APO) and food executive Dean Metropoulos. Apollo and Metropoulos had submitted a winn
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Bids for Hostess Brands Due Today. Bidders have until 5:00 pm EST today to submit their bids for Hostess Brands. The bankruptcy court has set this Wednesday for the auction of the beloved makers of Twinkie, Fruit Pies and Ding Dongs. Reports say that Apollo Global Management (
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U.S. Banks Pass Stress Test. Eighteen major banks have passed the Fed's stress tests. The test presumes a GDP falling 5% unemployment of 12%, a fall in stocks of 50% and a recession overseas. The banks needed to have a Tier 1 Common Ratio of over 5%. Citigroup (C) was the most overcapitaliz
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Detroit Fighting Takeover. The Detroit City Council has voted to appeal Gov. Rick Snyder's (R) decision putting the city in a “State of Emergency” and appointing an outside manager to run the city and clean up its finances. The Mayor Dave Bing (D), who is a former NBA star and owner of T
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Dow Set to Continue Rally. The Dow Jones is pointing to a higher opening, continuing its rally from yesterday’s record high. The Dow closed yesterday at 14246, up +0.83%, breaking the record high set in 2007. The record high also has S&P and NASDAQ futures looking at a higher op
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News Corp to Launch Sports Network. Reports say that News Corp. ( NWSA) has plans to launch a new cable sports network in August. The network will initially feature MLB games, NASCAR, soccer and college football and basketball games. Disney’s (DIS) ESPN may have a difficult time keeping
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China Becomes Worlds Large Oil Importer. According to the most recent EIA data China has become the world’s largest oil importer, surpassing the U.S. China's incoming shipments rose to 6.12 million bpd in December, while U.S. imports fell to 5.98 million bpd. This was the lowest level sinc
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