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News For BCS;UBS;RBS;DB;HBC;C;JPM From The Last 14 Days Check below for free stories on BCS;UBS;RBS;DB;HBC;C;JPM the last two weeks. |
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| May 17, 2013 |
| 10:07 EDT |  | HBC | On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded to Neutral from Buy at SunTrust... Aruba Networks (ARUN) downgraded to Perform from Outperform at Oppenheimer... CAE (CAE) downgraded to Sector Perform from Outperform at RBC Capital... City Holding (CHCO) downgraded to Market Perform from Outperform at Keefe Bruyette... Deere (DE) downgraded to Sell from Neutral at Goldman... Disney (DIS) downgraded to Neutral from Overweight at Atlantic Equities... HSBC (HBC) downgraded to Neutral from Outperform at Exane BNP Paribas... L Brands (LTD) downgraded to Underperform from Hold at Jefferies... Manning & Napier (MN) downgraded to Underperform from Neutral at BofA/Merrill... MeadWestvaco (MWV) downgraded to Underperform from Sector Perform at RBC Capital... National Grid (NGG) downgraded to Neutral from Outperform at Exane BNP Paribas... Savient (SVNT) downgraded to Market Perform from Outperform at William Blair... Stryker (SYK) downgraded to Reduce from Neutral at SunTrust... TRW Automotive (TRW) downgraded to Hold from Buy at Deutsche Bank... Universal Health (UHS) downgraded to Neutral from Positive at Susquehanna... Williams-Sonoma (WSM) downgraded to Neutral from Buy at BofA/Merrill... Zimmer (ZMH) downgraded to Reduce from Neutral at SunTrust... Aviva (AV) downgraded to Underperform from Sector Perform at RBC Capital... Pandora (P) downgraded to Hold from Buy at Maxim... Lumos Networks (LMOS) downgraded to Neutral from Buy at DA Davidson... Brocade (BRCD) downgraded to Underperform from Market Perform at William Blair... Applied Materials (AMAT) downgraded to Neutral from Buy at DA Davidson... Cosi (COSI) downgraded to Market Perform from Outperform at Northland Securities. |
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| 07:10 EDT |  | JPM | JPMorgan asks shareholders to reject chairman, CEO split, WSJ reports
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| 06:06 EDT | | JPM | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: A so-so Q1 earnings season hasn't dented investors' enthusiasm for stocks as prices have been rising, with the DJIA up 16% for the year and 4.2% since earnings season began April 8, the Wall Street Journal reports...JPMorgan Chase (JPM), in a last-ditch effort to beat back activist investors, sent a letter to shareholders who have yet to vote on the nonbinding proposal ahead of the May 21 annual meeting, urging them to reject a proposal to split the chairman and CEO roles held by James Dimon, the Wall Street Journal reports...REUTERS: Amazon.com (AMZN) will be called back to the British parliament to clarify how its activities in the U.K. justify its low corporate income tax bill, Reuters reports...J.C. Penney (JCP) CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, Reuters reports...BLOOMBERG: Apple (AAPL), which holds $102B in cash and investments outside the U.S., will suggest changes to corporate-tax laws to encourage companies to bring more cash into the country, Bloomberg reports...Fiat’s (FIATY) deliberations over moving its headquarters to the U.S. after a merger with Chrysler Group LLC. raised concern among Italian unions and politicians about the plans of the country’s biggest manufacturer. CEO Marchionne is considering the move because Fiat’s main sources of revenue and profit are shifting to North America, Bloomberg reports. |
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| 05:23 EDT | | HBC | HSBC downgraded to Neutral from Outperform at Exane BNP Paribas
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| May 16, 2013 |
| 15:17 EDT |  | RBS | Royal Bank of Scotland management to meet with JPMorgan
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| 12:32 EDT |  | RBS, BCS, DB, UBS | EU bank stress test delayed until 2014 by regulator
The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link |
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| 12:01 EDT |  | JPM | Bill Daley assisting JPMorgan over vote, CNBC's Tausche reports
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| 08:51 EDT | | JPM | JPMorgan management to meet with UBS
Meeting to be held in New York on May 16 hosted by UBS. |
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| 08:39 EDT | | DB | Hartford Financial hires Deutsche to find buyer for Japan unit, Bloomberg says
Hartford Financial Services (HIG) engaged Deutsche Bank (DB) to seek a buyer for its Japanese annuity unit, according to Bloomberg, citing people with knowledge of the matter. Reference Link |
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| 08:33 EDT | | C | BofA/Merrill's gobal financial analysts hold an analyst/industry conference call
Global Financial Institutions Analysts discuss their Global Financials Quarterly Best Ideas Report on an Analyst/Industry conference call. Relevant companies AIG, ALL, ASBC, BCH, BKU, BBT, BBD, C, CMA, EVER, FITB, FHN, FRC, FULT, HBAN, ING, KEY, MTB, PNC, RF, STI, SUSQ, SNV, HIG, USB, WFC, XL and ZION may be included on the Analyst/Industry conference call to be held on May 16 at 10 am. |
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| 07:53 EDT | | RBS | U.K. PM Cameron indicates he wants RBS in good shape for a sale, FT reports
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| 07:35 EDT |  | JPM | J.C. Penney May volatility elevated at 106 into Q1
J.C. Penney May call option implied volatility is at 106, June is at 57, July is at 50; compared to its 26-week average of 62 according to Track Data, suggesting larger near term price movement in the expected release of Q1 results after the market close today. |
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| 07:35 EDT | | RBS | Royal Bank of Scotland to cut 1,400 jobs in U.K., Reuters reports
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| 07:18 EDT | | C | Investors bet on banks hit by credit crisis, Bloomberg reports
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| 06:41 EDT | | JPM, C | Big banks to benefit from U.S. concession on derivatives, NY Times says
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| 06:12 EDT | | JPM | JPMorgan's Dimon has long helped select new board members, Reuters reports
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| May 15, 2013 |
| 17:03 EDT | | JPM, C | Soros gives quarterly update on stakes
NEW STAKES: MeadWestvaco (MWV), Brocade (BRCD), Red Hat (RHT), Liberty Global (LBTYK), and VMware (VMW). INCREASED STAKES: Google (GOOG), Liberty Global (LBTYA), EQT Corp (EQT), Charter (CHTR), and US Airways (LCC). DECREASED STAKES: Citigroup (C), AIG (AIG), Apple (AAPL), Invesco (IVZ), and Motorola Solutions (MSI). LIQUIDATED STAKES: JPMorgan (JPM), General Electric (GE), CF Industries (CF), Morgan Stanley (MS), and Capital One (COF). |
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| 16:02 EDT | | C | Options Update; May 15, 2013
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| 15:32 EDT | | C | Citigroup April net charge-offs 3.11% vs. 3.19% last month
Citigroup April delinquencies 2.1% vs. 2.17% last month |
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| 12:30 EDT | | JPM | JPMorgan, Portugal in talks to resolve derivative contracts issue, Reuters says
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| 12:03 EDT | | HBC | HSBC downgraded to Hold from Buy at Deutsche Bank
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| 11:48 EDT | | C | Appaloosa reports new stakes in Comcast, Ashland, sells Oracle
David Tepper's Appaloosa in its quarterly filing report new positions in Comcast (CMCSA), Prudential (PRU), Hess Corp. (HES), Check Point (CHKP), KBR (KBR) and Ashland (ASH). The fund sold its stakes in Oracle (ORCL) and Noble Corp. (NE). Appaloosa's top position is in Citigroup (C), with a stake worth over $376.9M. |
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| 06:53 EDT | | JPM | JPMorgan holders look unlikely to strip Dimon of chairmanship, FT says
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| 06:34 EDT | | JPM | JPMorgan CEO has obtained advice from Goldman counterpart, NY Times says
JPMorgan (JPM) CEO Jamie Dimon has spoken with his counterpart at Goldman Sachs (GS), Lloyd Blankfein, a number of times in recent months about the challenges that Dimon is facing, according to The New York Times, which cited unnamed sources. Reference Link J |
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| 06:15 EDT | | JPM | JPMorgan reports April net credit losses 3.49% vs. 3.48% last month
Reports April delinquency rate 1.70% vs. 1.80% last month. |
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| 06:15 EDT | | HBC | HSBC to cut 14,000 jobs, save $3B, Bloomberg reports
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| May 14, 2013 |
| 18:28 EDT | | C | Citi announces sale of Credicard to Banco Itaú Unibanco
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| 18:02 EDT | | JPM | JPMorgan vote to split CEO and Chairman role just above 40%, WSJ reports
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| 16:00 EDT | | C | Options Update; May 14, 2013
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| 13:53 EDT | | HBC | HSBC subsidiary confirms review of Monaco operations
In a regulatory filing, HSBC Private Banking Holdings, a wholly owned subsidiary of HSBC Holdings, confirmed that it is conducting a review of its operations in Monaco, HSBC Private Bank Monaco, as part of the HSBC Group's continuing strategic five-filter review. Following recent unsolicited expressions of interest, this may lead to the possible disposal of the business. Further announcements will be made if or when necessary. |
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| 08:33 EDT | | JPM, C | CFTC investigates swap contracts, FT reports
The Commodity Futures Trading Commission issued a “special call” asking Wall Street banks and other traders to provide documents that would prove recent derivatives transactions known as “exchanges of futures for swaps” were legal. Lawyers at the CFTC enforcement division are also scrutinizing the trades for possible violations. The probe is into the legitimacy of more than 1M energy and metals transactions by the biggest traders in commodities markets over the past two years.Reference Link |
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| 08:24 EDT | | JPM | David Tepper says has 'small position' in JPMorgan
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| 08:18 EDT | | C | David Tepper says Citigroup position 'more than twice' Apple stake
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| 08:10 EDT | | C | David Tepper says biggest position remains Citigroup
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| 08:10 EDT | | C | David Tepper says biggest position remains Citigroup
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| 07:28 EDT | | JPM | UBS to host a conference
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| 06:19 EDT | | UBS | Brokerage firms see market share drop, competition increase, Bloomberg reports
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| 05:58 EDT | | JPM | JP Morgan volatility at low end of six-year range
JP Morgan May call option implied volatility is at 22, June is at 20, August and September at 19; compared to its 26-week average of 22 according to Track Data, suggesting non-directional price movement. |
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| 05:44 EDT | | JPM, DB, BCS | Banks work deals from both sides of the field, WSJ reports
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| May 13, 2013 |
| 18:06 EDT | | BCS | Barclays gets shareholder lawsuit over Libor thrown out, Reuters says
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| 15:04 EDT | | C, JPM | Fed says large banks must submit midyear stress tests on July 5
Eighteen large U.S. bank holding companies are required to submit the results of their company-run, midyear stress tests to the Federal Reserve on July 5, the Federal Reserve said. The Dodd-Frank Wall Street Reform and Consumer Protection Act required that large bank holding companies and non-bank financial institutions that are designated for Federal Reserve supervision by the Financial Stability Oversight Council conduct two stress tests each year. In the midyear test, which is being conducted for the first time in 2013, each firm develops its own baseline, adverse, and severely adverse scenarios to best reflect its individual operations and risks. Each firm in the midyear test is required to release the results produced under its severely adverse scenario, helping promote market discipline and understanding of the financial conditions and risks of individual firms, between September 15 and September 30, the Fed added. |
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| 14:47 EDT | | RBS | Royal Bank of Scotland management to meet with JPMorgan
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| 09:39 EDT | | C | Active equity option families trading
Active equity option families trading on open according to Track Data: AAPL C TSLA LVS GILD FSLR |
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| 07:41 EDT | | JPM | Dimon role may be decided by board director Raymond's view, NY Times reports
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| 07:29 EDT | | UBS | Skillsoft to host a conference
2013 Global Skillsoft Perspectives Learning Industry Conference is being held in Orlando, Florida on May 13-16. |
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| 07:07 EDT |  | JPM | JPMorgan shares offer good value, says Bernstein
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| 06:49 EDT | | BCS, UBS, RBS, DB | ECB member says negative deposit rates would help economy, Reuters says
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| 06:22 EDT | | JPM | JPMorgan's Dimon has considered leaving the bank, WSJ reports
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| 06:05 EDT | | HBC | HSBC CEO Gulliver simplifies the bank, focused on growth, Reuters reports
HSBC's sale of a stake in a Korean insurer last month was made with little fanfare, just one of 52 deals struck or businesses closed in the last two years by CEO Stuart Gulliver, and analysts are expecting more, reports Reuters. This week, he's expected to say he can find at least $1B more in cost savings, cut more jobs and businesses and dangle the prospect of higher dividends for investors. Reference Link |
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| May 10, 2013 |
| 16:01 EDT | | C | Options Update; May 10, 2013
CBOE Volatility Index VIX down 56c to 12.57. Option volume leaders: BIDU AAPL TSLA GOOG C MBI MGM according to Track Data. |
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| 14:21 EDT | | JPM | JPMorgan directors recommend against splitting Chairman, CEO roles
Two of JPMorgan's directors, Lee Raymond and William Weldon, sent a letter to shareholders of the bank urging for re-election of all its existing directors and supporting Jamie Dimon continuing as both Chairman and CEO. The directors, who identified themselves as the Presiding Director and the Chairman of the Corporate Governance & Nominating Committee, stated: "We believe that a vote against our current Directors or a vote to permanently separate the Chairman and CEO positions could be disruptive to the Company and is not in shareholders’ best interests," according to a copy of the letter posted online by Financial Times. Reference Link |
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| 13:17 EDT | | UBS | UBS names Palmer head of equity markets for Americas, Reuters reports
UBS has installed James Palmer as head of equity capital markets for the Americas, according to Reuters, which cited an internal memo it obtained. Palmer was previously a managing director in the group, the news service stated. Reference Link |
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| May 9, 2013 |
| 17:12 EDT | | JPM | JPMorgan sued by California for "fraudulent, unlawful debt-collection practices"
Attorney General Kamala D. Harris filed an enforcement action against JPMorgan Chase alleging that the bank engaged in fraudulent and unlawful debt-collection practices against tens of thousands of Californians. The suit alleges that Chase engaged in widespread, illegal robo-signing, among other unlawful practices, to commit debt-collection abuses against approximately 100,000 California credit card borrowers over at least a three-year period. Chase used California’s judicial system as a mill to obtain default judgments, the suit alleges, using illegal tactics to flood the state’s court system in order to secure default judgments and garnish wages from Californians. Reference Link |
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| 12:23 EDT | | RBS | RBS Citizens Financial CEO Alemany to retire in September
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| 08:09 EDT | | JPM | JPMorgan, Bank of America had perfect trading records in Q1, Bloomberg reports
JPMorgan Chase (JPM) and Bank of America (BAC) had perfect trading records in the first quarter, making money every day of the period as Morgan Stanley (MS) posted losses in eight sessions and Goldman Sachs (GS) in two, reports Bloomberg. One daily gain at JPMorgan was over $200M as the bank recovered from last year’s London Whale derivatives loss, the company said in a regulatory filing. Reference Link |
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| 07:35 EDT | | JPM | Platts to host a conference
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| 07:12 EDT | | DB, C | Citigroup closing in on Deutsche Bank in Asian currency trade, Bloomberg reports
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| 06:40 EDT | | JPM | Calpers to support separation of chairman, CEO roles at JPMorgan, NY Times says
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| 06:10 EDT | | DB, C | On the Fly: Periodicals Wrap-Up
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| 05:43 EDT | | C, JPM | Big banks take the offense against Washington, WSJ reports
The biggest U.S. banks are going on the offensive to fight off growing efforts in Washington to rein them in, reports the Wall Street Journal. They've hired longtime, influential Washington insiders to deflect regulatory and political pressure to strengthen their finances and to sell assets. Reference Link |
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| 05:39 EDT | | JPM | JPMorgan looks for more board directors for its risk committee, WSJ reports
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| May 8, 2013 |
| 19:52 EDT | | JPM | JPMorgan discloses receipt of Wells-type notice from FERC
In a regulatory filing, JPMorgan disclosed that the Federal Energy Regulatory Commission is investigating the firm’s bidding practices in certain organized power markets. In March, the firm received a Wells-type notice that the FERC staff intends to recommend that the Commission bring a possible enforcement action against J.P. Morgan Ventures Energy, JPMorgan Chase, and certain firm personnel relating to alleged violations of FERC rules and the rules of certain independent system operators. Additionally, in November 2012, the FERC issued an order suspending JPMVEC’s market-based rate authority for six months commencing on April 1, based on its finding that statements concerning discovery obligations made in submissions related to the FERC investigation violated FERC rules regarding misleading information. |
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| 16:18 EDT | | JPM | FERC delivers 'wells-type' notice to JPMorgan on energy probe, Bloomberg reports
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| 16:00 EDT | | C | Options Update; May 8, 2013
CBOE Volatility Index VIX down 17c to 12.66. Option volume leaders: BAC GOOG C AAPL DIS X XOM according to Track Data. |
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| 10:57 EDT | | JPM | ICU Medical jumps after report says company considering sale
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| 10:20 EDT | | JPM | JPMorgan chooses Bisso to run North America investment office, Bloomberg says
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| 09:45 EDT | | JPM | JPMorgan named Erik Bisso as CIO for North America, Bloomberg reports
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| 09:37 EDT | | C | Active equity option families trading on open
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| May 7, 2013 |
| 12:38 EDT | | C, BCS | Citigroup sues Barclays over Lehman losses, Reuters says
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| 10:56 EDT | | JPM | Second firm recommends JPMorgan split CEO, Chairman roles, FT reports
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| 10:28 EDT | | JPM | JPMorgan may cut commodity trader jobs in London, Dubai, Bloomberg says
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| 10:20 EDT | | UBS, DB, C | Banks accused of restraining swaps market competition, Bloomberg says
A sheet metal workers union in Cleveland claimed in federal court that Goldman Sachs Group (GS), Citigroup (C) and 10 other banks have restrained market competition" for credit default swaps, violating U.S antitrust law, says Bloomberg. Other banks named in the complaint include Bank of America (BAC), Deutsche Bank (DB), and UBS (UBS), added Bloomberg. Reference Link |
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| 07:10 EDT | | JPM | Three major JPMorgan shareholders undecided on Dimon's roles, WSJ reports
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| 06:07 EDT | | JPM | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Some of the world's biggest handset makers and telecom carriers are embracing alternative mobile operating systems this year in an attempt to become credible challengers to smartphones run by Apple (AAPL) and Google (GOOG), the Wall Street Journal reports...JPMorgan Chase (JPM) has yet to persuade three of its largest shareholders--BlackRock (BLK), Vanguard Group and Fidelity Investments--to back the company in a coming vote over whether James Dimon should retain his dual role of chairman and CEO, the Wall Street Journal reports...REUTERS: SoftBank (SFTBF) President Masayoshi Son said he will go to the U.S. today to meet Sprint Nextel’s (S) major shareholders about the Japanese company's takeover bid, after rival bidder Dish Network (DISH) said a U.S. company would make a better suitor., Reuters reports...Microsoft (MSFT) has sold 100M Windows 8 licenses in the six months since launch, but wants to combat sputtering interest in its flagship software with a substantial update to make it easier to use, and compatible with smaller tablets, Reuters reports...BLOOMBERG: Rio Tinto (RIO) will likely pursue a $5B expansion of its iron ore output in Australia, CEO Sam Walsh said, according to two people present at a meeting with investors and analysts, Bloomberg reports...Saudi Arabia, home to the biggest Arab bourse, seeks to boost institutional investments in its $390B stock market as the top OPEC producer weighs plans to allow foreigners to buy shares directly, Bloomberg reports. |
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| 06:06 EDT | | RBS | RBS's Coutts & Co. reduces gold holdings, Bloomberg reports
Coutts & Co., the private-banking division of Royal Bank of Scotland Group, reduced its gold holdings as prices fell through $1,600 an ounce, saying that a return to the peak isn’t likely unless there’s a crisis in the Middle East, a weaker dollar or a jump in inflation, reports Bloomberg. The bank holds about 1% to 2% in its portfolios, compared with 6% to 7% at the end of Q3. Reference Link |
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| 06:01 EDT | | C, BCS, JPM | Antero Resources, controlled by Warburg Pincus, plans IPO, Reuters reports
Denver-based Oil and gas company Antero Resources, controlled by Warburg Pincus LLC, is preparing for an IPO that could value it at as much as $10B, sources say, reports Reuters. Antero hired Barclays (BCS), JP Morgan Chase (JPM) and Citigroup (C) to lead the deal, sources added. Reference Link |
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| 05:50 EDT | | C, JPM | Mortgage lenders ease standards for 'prime' borrowers, WSJ reports
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| 05:34 EDT | | RBS | Royal Bank of Scotland downgraded to Neutral from Overweight at JPMorgan
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| May 6, 2013 |
| 16:03 EDT | | C | Options Update; May 6, 2013
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| 13:19 EDT | | C | Citigroup investor: Idea of splitting bank 'completely dead,' Reuters reports
Saudi prince Alwaleed bin Talal, Citigroup's largest individual shareholder, says that the idea of splitting up the bank is "dead completely," adding that the conservative strategy of CEO Mike Corbat is starting to reflect in its financial results, Reuters reports. Reference Link |
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| 12:46 EDT | | C | Citigroup investor: Idea of splitting bank 'completely dead,' Reuters reports
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| 08:06 EDT | | RBS | Advisor to recommend RBS, Lloyds be reprivatized via share hand-out, FT says
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| 07:54 EDT | | UBS | Assured Guaranty reaches RMBS settlement with UBS
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| 06:07 EDT | | JPM | Warren Buffett says JPMorgan has the 'right CEO'
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| May 5, 2013 |
| 19:20 EDT | | JPM, C | N.Y AG plans homeowner enforcement versus financial firms, Bloomberg reports
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| 15:24 EDT | | UBS | UBS plans to vacate most of space it rents at 299 Park Ave, Bloomberg says
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| 13:21 EDT | | JPM | ISS suggests JPMorgan holders reject three directors, Reuters says
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