Financial Business Update: Chimera Gets NYSE EXTENSION, Euronext Gets PENALTY

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The Royal Bank of Scotland Group plc (NYSE:RBS) will divest 25 percent of its Direct Line insurance division in a London initial public offering as part of the terms of its £45.5 billion bailout in 2008. Analysts calculate that Direct Line could be valued at £3 billion, but the signs aren’t promising, subsequent to the Geman insurer Talanx this week abandoning its IPO for the second time in three months over a dispute with potential investors over price.

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Chimera Investment Corporation (NYSE:CIM) gets a 4-month extension for continued listing on the New York Stock Exchange, giving the firm until January 2013 to comply with the rules and also to file its 2011 annual report. Chimera sacked its auditor in 2011 and thus far has not filed any 2012 quarterly reports as well.

NYSE Euronext (NYSE:NYX) will pay a $5 million penalty to the Securities and Exchange Commission to resolve charges that technology glitches at the exchange gave high-frequency traders stock-price data seconds before the general public received them.

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