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Stock Market & Financial Investment News

News Breaks
May 17, 2012
13:09 EDTBBD, STD, BSBR, BBVAMoody's downgrades four Spanish regions on poor fiscal performance
Moody's downgraded the ratings of the Spanish regions of Catalunya, Murcia, Andalucia and Extremadura citing their poor fiscal performance in 2011 and the low probability that the regional governments will be able to meet the 2012 deficit target set by the central government. Moody's also confirmed the ratings of the regions of Castilla-La Mancha and Valencia, and of four government-related entities in Valencia, reflecting their non investment grade ratings and the significant liquidity support from the Spanish central government.
News For BBVA;STD;BBD;BSBR From The Last 14 Days
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August 3, 2015
05:45 EDTBBDHSBC to sell Brazil business to Banco Bradesco
HSBC (HSBC) entered into an agreement to sell its entire business in Brazil, comprising HSBC Bank Brasil S.A Banco Multiplo and HSBC Servicos e Participacoes Ltda, to Banco Bradesco (BBD) for an all cash consideration of $5.2B. This represents a price to tangible book value multiple of 1.8x based on 30 June 2015 accounts. As at the completion of the transaction, the purchase price is subject to adjustment to reflect the movement in the net asset value of the business between 31 December 2014 and completion. The transaction is expected to be a key contributor to the investor update action to reduce Group RWAs, accounting for $37B of the overall $290B planned reduction, enabling future redeployment of RWAs to support growth opportunities. The transaction is subject to regulatory approval. HSBC plans to maintain a presence in Brazil to serve large corporate clients with respect to their international needs. Reference Link

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