Nasdaq Private Market to Help Startups, Rice Says
March 6 (Bloomberg) -- Bob Rice, managing partner at Tangent Capital Partners, and Jay Ritter, a finance professor at the University of Florida in Gainesville, talk about Nasdaq OMX Group Inc. and SharesPost Inc.'s plan to set up a joint venture where brokers can trade stocks of firms before any initial public offering. The venture will be known as Nasdaq Private Market. Rice and Ritter speak with Deirdre Bolton on Bloomberg Television's "Money Moves.' (Source: Bloomberg)
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UBS and BNP Report Profits Despite Low Interest Rates
35:35 - UBS Group AG, the world’s biggest manager of money for the wealthy, said pretax profit rose 11 percent in the third quarter as costs declined, offsetting a drop in wealth management and investment banking. Pretax profit rose to 877 million Swiss francs ($883 million) from 788 million francs a year earlier, the Zurich-based bank said in a statement Friday. That compares with the 862 million-franc average of six analyst estimates compiled by Bloomberg. Also, BNP Paribas SA, France’s largest lender, reported third-quarter profit that beat analysts’ estimates as it benefited from a surge in fixed-income trading that has lifted bank earnings in Europe and the U.S. Atlantic Equities Analyst Christopher Wheeler discusses with Nejra Cehic and Manus Cranny on "Bloomberg Daybreak: Europe."