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JC Penney hires Blackstone; Ackman willing to infuse additional capital

Beleaguered company J. C. Penney Co Inc has engaged the services of Blackstone Group LP's financial advisory arm for their expertise on how to best position the firm financially, according to sources.


Eurozones finance ministers to discuss Cyprus bailout

Eurozones finance ministers will meet in Dublin on Friday to discuss a bailout for Cyprus, the cost of which has rise to 23 billion euros from 17.5 billion euros.

Investors’ Rush into Stocks propels stock rally

Investors continue to rush into U.S. stocks, pouring in more than $60 billion into mutual funds and ETFs.

Nasdaq Cuts Greifeld's Bonus over Facebook IPO fiasco

Nasdaq OMX Group Inc's chief executive Robert Greifeld's 2012 annual bonus has been slashed over the mishandling of Facebook's Inc. initial public offering last year.


Latest News

HG Data's new President is Tim Baskerville. In a press release, HG Data Company announced the appointment of Tim Baskerville as President. Since 2011, Baskerville had been on the Board of Directors of HG Data.
Private equity firm, Advent International, has opened an office in China, just like other big private equity firms The Carlyle Group CVC and Bain Capital.
Indian private equity investments decreased by a quarter in Q1 2013, according to the latest Quarterly Deal Report of VCCEdge.
KKR appoints Hirofumi Hirano as CEO and MD while former CEO and MD Shusaku Minoda becomes chairman.
Jay-Z is divesting ownership with NBA team Brooklyn Nets to become a sports agent. Rap icon and producer Jay-Z has now offered his shareholdings in the National Basketball Association's Brooklyn Nets for sale in order to focus on the growth and development of his sports representation business.
Ackman's handpicked executive has been replaced by the board of JC Penney. William Ackman has bet the ranch that he would be able to overhaul the financial condition of retail giant JC Penney.
The mystery lender who financed Thai billionaire Dhanin Chearavanont's $9.4 billion acquisition of HSBC's 15.6 stake in Ping An Insurance Group Co.,China's second largest insurer, had been named.
Business Secretary Vince Cable wants the three former HBOS plc directors who were responsible for the bank's failure to be stripped of their current board roles and banned them from running a financial company in the future.
OTK Associates LLC, the largest shareholder of Morgans Hotel Group Co. is evaluating all legal rights and remedies over the Morgans' agreements with The Yucaipa Companies.
BRF would be appointing Abilio Diniz as its new chairman. The new chairman of BRF- Brasil Foods SA is billionaire Abilio Diniz. He has said he would guide the country's biggest foodmaker for overseas expansion to boost profit margins.