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October 15, 2012
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Daily news for the equipment finance sector

  Industry News 
  • Softbank will pay $20B for 70% ownership of Sprint
    Japan's Softbank will acquire a 70% stake in U.S. wireless operator Sprint for about $20 billion, the leaders of both companies said. Softbank will buy $8 billion worth of shares from Sprint at $5.25 a share and offer to buy $12 billion worth from investors at $7.30 a share. CNBC (10/15), Reuters (10/15) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Analysis: Prospects for U.S. economy truly have improved
    Despite skepticism from conspiracy theorists, data showing significant improvement in the U.S. labor market are real, according to The Economist. "Although the drop in the unemployment rate was surprisingly sharp, there is no obvious reason for it to reverse," the magazine notes. "The [Bureau of Labor Statistics] actually revised up its payroll employment figures for July and August to more robust levels, and in September found people working longer hours at higher pay." The Economist (10/13) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • Revamp of financial regulation could squeeze growth, report says
    Ongoing changes in financial regulation are hurting credit growth, according to an Institute of International Finance report. One area of concern is Basel III implementation, coming "at a time when many mature economies are struggling, and when emerging economies show signs of slowing -- could have the unintended consequence of constraining future economic growth, through adverse consequences for end users," said Douglas Flint, chairman of the institute's board of directors and of HSBC Holdings. The Wall Street Journal/Dow Jones Newswires (10/13) LinkedInFacebookTwitterEmail this Story
  • SEC's Schapiro supports bill easing limits on penalties
    Mary Schapiro, chairman of the Securities and Exchange Commission, supports legislation that would allow the agency to increase the size of penalties it can get from companies. Individuals accused of wrongdoing can face a penalty of no higher than $150,000 per violation, while the limit for an entity or corporation is $725,000. "In most cases -- particularly those involving large financial institutions -- the maximum penalty is equal only to the amount of the wrongdoer's ill-gotten gains," Schapiro said. "We are not permitted to base our penalties on how much investors have lost." The Wall Street Journal/CFO Journal (10/12) LinkedInFacebookTwitterEmail this Story
  ELFA Member News 
  SmartQuote 
I have loved the stars too fondly to be fearful of the night."
--Galileo Galilei,
Italian astronomer, philosopher and physicist


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