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Stock Market & Financial Investment News

News Breaks
February 4, 2013
11:41 EDTBCS, RBS, HBCU.K. paving way for new laws that may break up errant banks, says Reuters.
U.K finance minister George Osborne said that British banks that fail to reign in their risky investments could be broken up to have their core retail operations shielded from danger, says Reuters. Reference Link
News For BCS;RBS;HBC From The Last 14 Days
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October 31, 2014
06:44 EDTRBSLarge banks prepare for forex investigation payments, WSJ says
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05:59 EDTRBSRoyal Bank of Scotland confirms it will retain Ulster Bank
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05:59 EDTRBSRoyal Bank of Scotland CEO says 'long list of conduct and litigation issues'
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05:58 EDTRBSRoyal Bank of Scotland says cost reductions remain on track
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05:56 EDTRBSRoyal Bank of Scotland reports Q3 profit GBP 896M vs. GBP (828M) last year
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October 30, 2014
08:30 EDTBCSBarclays accused in suit of bribing Saudi royalty, NY Post reports
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05:38 EDTBCSBarclays reports Q3 adjusted profit GBP 1.59B vs. GBP 1.39B last year
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October 29, 2014
06:39 EDTBCS, RBSECB says loan demand expected to rise, Reuters reports
Demand for loans from euro zone banks is expected to rise sharply this quarter, the European Central Bank stated in a report, according to Reuters. Meanwhile, the bloc's banks are expected to ease credit standards in Q4, after credit standards in France and Germany eased in Q3, the news service quoted the ECB as saying. Publicly traded companies in the space 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 28, 2014
06:04 EDTBCSBarclays provides strategic update, plans to cut 9,000 jobs
Barclays said, "We will commence a second phase of Simplification and cost efficiency to achieve run-rate savings of 1 billion per annum by the end of 2017, creating value for customers and improving our long-term competitiveness. In order to achieve these savings, we will invest around 1.6 billion over three years on initiatives to simplify processes and increase automation. In particular, we will digitise our key customer journeys to improve customer service and increase the efficiency of end-to-end processing...Within the organisation, we will rebalance roles to reflect the evolving nature of the business and ensure we have the people and capabilities required for the transition to a more digitised, IT enabled business. We anticipate a reduction of approximately 9,000 full time roles across the business while building new capability in digital and IT. We will also further rationalize our legal entities, including our life companies." Barclays issued new medium-term targets for efficiency, risk and returns: Cost:income ratio to exit 2017 at around 45%; Simplification run-rate savings of GBP 1B per annum by the end of 2017; Asset quality ratio of around 40 basis points through the economic cycle, and lower than this over the next three years; Sustainable returns on required equity of around 13.5%-15% by the end of the strategic plan period and through the economic cycle.
October 27, 2014
13:13 EDTRBS, BCSU.K. banks to raise PPI compensation provisions, Sky News reports
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07:30 EDTBCSInternational Economic Forum of the Americas to hold a forum
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06:07 EDTRBSRBS expected to announce commitment to Ulster Bank, Telegraph reports
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October 26, 2014
17:32 EDTRBS, BCSEuropean banks may gain after ECB stress tests, Bloomberg says
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13:27 EDTBCS, RBSECB releases results of bank stress test
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October 24, 2014
08:44 EDTRBS, BCSECB 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 22, 2014
09:50 EDTHBCCredit Suisse to hold a field trip
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October 21, 2014
08:28 EDTRBSEuropean Commission fines JMorgan EUR 61.68M over Libor influencing
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08:18 EDTRBS, BCSBasel 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
08:12 EDTRBSJPMorgan, UBS, Credit Suisse to be fined by EU over Libor rigging, Reuters says
JPMorgan (JPM), UBS (UBS) and Credit Suisse (CS) will be fined $115M collectively for their roles in rigging Swiss franc Libor rates, with JPMorgan's fine of $89M making up the lion's share of the penalty, said Reuters, citing a person familiar, who added that Royal Bank of Scotland (RBS) would not be penalized for its own role since it alerted the European Commission to the issue. Reference Link
October 20, 2014
07:21 EDTBCSFederal Reserve Bank of New York and Boston to hold a workshop
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