IBT Staff Reporter

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LSE, TMX abort merger plans, leaving both in play

The London and Toronto stock exchanges abandoned plans for a C$3.6 billion ($3.7 billion) tie-up on Wednesday, leaving both in play in a world already facing a wave of exchange consolidation.
Jun 29, 2011

U.S. must hike debt limit soon to avoid shock: IMF

The International Monetary Fund on Wednesday pressed U.S. lawmakers to quickly lift the government's borrowing limit to avoid a severe shock to global markets and a still-fragile economic recovery.
Jun 29, 2011

Rating agencies OK with Greek plan: sources

Politicians and bankers are confident a French proposal for a Greek bailout can be adopted without triggering a default or a payout in credit insurance, lifting a key hurdle to a rollover of Greek debt, sources told Reuters.
Jun 29, 2011

Pending home sales rise but recovery still distant

Pending sales of existing homes rebounded from a seven-month low in May but demand for mortgages sank last week and the market is still struggling under the weight of a glut of unsold properties.
Jun 29, 2011

Maple group confident of spoiling LSE vote: source

A Canadian consortium believes it has enough support to stymie the London Stock Exchange's takeover bid for TMX Group , Canada's largest stock market operator, at a shareholder vote on Thursday, a source with the 13-member consortium said.
Jun 29, 2011

Instant view: Pending home sales jump in May

Pending sales of previously owned U.S. homes rose more than expected in May, a trade group said on Wednesday, but a glut of unsold properties remains a drag on the housing market.
Jun 29, 2011

JPMorgan-SEC deal on mortgage CDO approved: judge

A federal judge on Wednesday approved a $153.6 million settlement between JPMorgan Chase & Co and the top U.S. market regulator over allegations a mortgage CDO product defrauded the bank's investors at the time of the housing market collapse.
Jun 29, 2011

Google+ Social Network Takes First Step to De-throne Facebook

Google has stepped back into the social network ring with the launch of Google+ (Plus). The new social network hopes to succeed where Google's previous Buzz project failed by creating a more natural way for users to connect. The focus is by first playing it safe through utilizing basic functions of sharing photos, chatting, and meeting friends, and then builds on that with some unique features that rival Facebook's groups and text message blasts.
Jun 29, 2011

Toronto, London stock exchanges abort merger plans

The London and Toronto stock exchanges abandoned plans for a C$3.6 billion merger on Wednesday, as it became clear they would not win enough shareholder support for their transatlantic alliance.
Jun 29, 2011

Maple group expects to spoil LSE vote: source

A Canadian consortium believes it has enough support to stymie the London Stock Exchange's takeover bid for TMX Group , Canada's largest stock market operator, at a shareholder vote on Thursday, a source with the 13-member consortium said.
Jun 29, 2011

Summerfest Kicks Off Today!

Summerfest, the world's largest music festival, opens its 10-day run with fireworks, performances, and a multitude of exciting activities.
Jun 29, 2011

Knicks Rumors: Kurt Thomas, oldest NBA player, to play center

The New York Knicks may be making a run at the oldest player in the NBA in free agent center Kurt Thomas. The 38 year old Thomas played for the Chicago Bulls last year after signing a one year contract for $1.3 million to backup Joakim Noah.
Jun 29, 2011

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