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Stock Market & Financial Investment News

News Breaks
December 20, 2012
05:11 EDTAEG, SANAegon, Banco Santander form long-term strategic partnership in Spain
Aegon has entered into an exclusive 25-year strategic partnership with Banco Santander, Spain's largest financial group, to distribute both protection and general insurance products through the group's extensive network of over 4,600 bank branches, focused on a potential client base of 12M customers. Under the terms of the agreement, Aegon will acquire a 51% stake in both a life insurance company as well as in a non-life insurance company for a consideration of EUR220M. Depending on the performance of the partnership, Aegon may pay an additional amount after five years. Furthermore, Aegon Spain will provide the back-office services to the joint venture companies. The transaction is expected to close in the first half of 2013 subject to regulatory approval and will be financed from existing resources.
News For AEG;SAN From The Last 14 Days
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October 24, 2014
08:44 EDTSANECB draft shows 25 EU banks set to fail stress test, Bloomberg says
Bloomberg cites a draft ECB document the news service has viewed. Publicly traded EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).
October 21, 2014
08:18 EDTSANBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
October 17, 2014
05:51 EDTSANStocks with implied volatility movement; SD SAN
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October 16, 2014
06:50 EDTSANEuropean regulator rejects bonus loophole, NY Times says
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05:32 EDTAEGAEGON agrees to sell Canadian operations for C$600M
Aegon has reached an agreement with Wilton Re to sell its Canadian operations for C$600M. The net underlying earnings of Aegon's Canadian operations were C$26M over the trailing four quarters ending June, while its shareholders' equity excluding revaluation reserves on an IFRS basis amounted to C$1.8B at the end of June. As a result, the sale price represents a multiple of 23 times net underlying earnings. The transaction is expected to result in a book loss of approximately C$1.2B. The parties anticipate that the transaction will close in 1Q15, subject to regulatory approval.

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