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Stock Market & Financial Investment News

News Breaks
July 17, 2014
06:34 EDTCS, UBS, BLKBlackRock sells $3.7B of UBS securities to Credit Suisse, Bloomberg says
Blackrock (BLK) sold $3.7B of the $22B of securities it purchased six years ago from UBS (UBS) to Credit Suisse (CS) in yesterday’s auction of mostly subprime-mortgage bonds, according to Bloomberg, citing a person with knowledge of the transaction. Reference Link
News For BLK;UBS;CS From The Last 14 Days
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January 26, 2015
08:53 EDTBLKBig name mortgage investors take step toward Ocwen lawsuit, Reuters says
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January 23, 2015
08:22 EDTUBSUBS says did not experience negative revenues in trading from Swiss franc move
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08:21 EDTUBSUBS sees DCCP to qualify as additional tier 1 capital
UBS has enhanced certain features of its employee compensation framework in anticipation of increased focus on tier 1 capital instruments. Starting with compensation for 2014, Deferred Contingent Capital Plan, or DCCP, awards will qualify as fully applied additional tier 1 capital under Basel III regulations. This will optimize the capital efficiency of these plans under Basel III. Outstanding DCCP awards granted for the performance years 2012 and 2013 are unaffected by these changes, and continue to qualify as Basel III tier 2 loss-absorbing capital. Reflecting progress in the establishment of its Group holding company, including the successful completion of its share-for-share exchange offer, UBS fully accrued a supplementary capital return of CHF 0.25 per share in the fourth quarter of 2014. The accrual reduced UBS's fully applied Basel III CET1 capital by approximately CHF 1B as of December 31, 2014. Subject to shareholder approval, UBS Group AG intends to pay the supplementary capital return upon successful completion of the squeeze-out procedure. The supplementary capital return is expected to be a distribution of capital contribution reserves. It is separate and in addition to its targeted capital return of at least 50% of net profit attributable to UBS shareholders, UBS said.
07:59 EDTUBSUBS wins dismissal of lawsuit over inactive account seizure, Reuters says
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January 22, 2015
08:16 EDTBLKMarketAxess, BlackRock expand strategic trading alliance into Europe
MarketAxess Holdings Inc. (MKTX) and BlackRock, Inc. (BLK) are expanding their Open Trading alliance into the European credit markets. The strategic alliance seeks to improve liquidity and reduce transaction costs for European fixed income market participants, building upon the success of the firms’ existing partnership in U.S. credit. The alliance will offer increased choice in execution options and counterparties, while providing valuable data and market insights to better inform trading decisions in European markets. Under the expanded partnership, the firms will continue their efforts to develop innovative trading protocols that address liquidity challenges in the global credit markets.
January 20, 2015
08:41 EDTCSCredit Suisse's capital ratios not changed by unstable Swiss franc, Reuters says
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07:28 EDTBLKTreasury Institute for Higher Education to hold a symposium
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06:58 EDTBLKBlackRock, Fidelity close to launching 'dark pool,' WSJ reports
Some of the largest mutual fund firms, including Fidelity, BlackRock (BLK), Bank of New York Mellon (BK),, T. Row Price (TROW) and JP Morgan (JPM) are among the firms that are close to launching a new "dark pool," The Wall Street Journal reports, citing sources. The effort, which involves nine firms in total, would look to shut out sell-side trading desks and high-speed trading firms. Reference Link
06:39 EDTCSCredit Suisse will charge certain clients for franc accounts, Reuters says
On January 22, Credit Suisse will begin charging some large corporate clients for franc accounts in order to introduce negative interest rates, reports Reuters, citing Credit Suisse spokeswoman Daniela Haesler. Reference Link
January 16, 2015
16:29 EDTCSOn The Fly: Closing Wrap
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12:43 EDTBLKOn The Fly: Midday Wrap
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January 15, 2015
11:23 EDTUBSSEC charges UBS unit with disclosure violations in operating dark pool
The Securities and Exchange Commission has charged a subsidiary of UBS with disclosure failures and other securities law violations related to the operation and marketing of its dark pool. UBS Securities LLC agreed to settle the charges by paying more than $14.4M, including a $12M penalty that is the SEC’s largest against an alternative trading system. An SEC examination and investigation of UBS revealed that the firm failed to properly disclose to all subscribers the existence of an order type that it pitched almost exclusively to market makers and high-frequency trading firms. Furthermore, the SEC investigation found that UBS similarly failed to disclose to all subscribers a “natural-only crossing restriction” developed to ensure that select orders would not execute against orders placed by market makers and high-frequency trading firms. UBS consented to the SEC’s order without admitting or denying the findings. The order censures the firm and requires payment of $2,240,702.50 in disgorgement, $235,686.14 in prejudgment interest, and the $12M penalty.
07:17 EDTUBSUBS volatility at 28 into Swiss ends exchange-rate-cap
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07:14 EDTCSCredit Suisse volatility elevated as shares trade at two-year low
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06:58 EDTCSCredit Suisse to ask regulators to continue managing pensions, Reuters says
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06:42 EDTUBS, CSECB most likely will unveil bond buying program, NY Times says
The European Central Bank is "all but certain" to announce at its next meeting that it will buy government bonds, according to The New York Times. But the ECB may announce that it will buy bonds but say that it will only provide details about the program in March, some believe, the newspaper reported. Some economists contend that the initiative could be a case of "too little, too late," The Times added. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:35 EDTBLKBlackRock board authorizes repurchase of an additional 6M shares
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06:34 EDTBLKBlackRock board increases quarterly dividend by 13% to $2.18
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06:33 EDTBLKBlackRock reports Q4 AUM up 8%
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06:31 EDTBLKBlackRock reports Q4 adjusted EPS $4.82, consensus $4.70
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