Yahoo!, Alibaba Talks Falter, Capital One to Buy ING Direct: Hot Trends
NEW YORK (
) -- Popular searches on the Internet Wednesday include
Yahoo!
(YHOO)
as talks between the Internet search engine and China's
Alibaba Group
about Yahoo!'s Asian assets have stalled.
Collapsed negotiations put plans for a $17 billion tax-free asset swap into question. The asset swap could have seen Yahoo!'s pieces of Alibaba and Yahoo! Japan returned back to the companies in exchange for assets. The deal was, in part, an attempt on behalf of Yahoo! to appease shareholders who have been unhappy with the company's struggling business, and who hoped that the deal would ultimately lead to a sale of its Asian assets -- some of the most valuable in the company's portfolio.
While Yahoo! and Alibaba have not commented on the matter, some reports speculate the companies will no longer pursue the deal, while others indicate Yahoo! could seek another type of deal with the company that would be simpler and taxable.
ING
is trending as
Capital One's
(COF) - Get Report
planned acquisition of ING's U.S. online bank has been approved by the
Federal Reserve
.
Capital One will purchase ING Direct USA for $9 billion. The deal means more than 7 million customers and about $80 billion in deposits will be added to Capital One, which will become the fifth-largest lender by U.S. deposits.
BNP Paribas
is another popular search as the bank reported fourth-quarter profit that beat analysts' estimates.
France's largest bank reported net income dropped to €765 million ($1 billion); analysts were expecting profit of €587 million. The results were helped by the bank's retail business.
For 2012, the bank predicts it will be able to grow despite a slowing European economy. It forecasts €850 million in extra one-off costs and €1.4 billion n lost recurring revenue due to restructuring and asset sales. The bank will also cut its bonus pool by half.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar
.
Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.
