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Stock Market & Financial Investment News

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May 14, 2014
06:35 EDTBNPQY, CSNY Regulator cooperation crucial to deals with BNP, Credit Suisse, WSJ says
Prosecutors have privately expressed concerns that New York's banking regulator Benjamin Lawsky could complicate the process of potential deals with BNP Paribas (BNPQY) and Credit Suisse (CS), reports the Wall Street Journal. According to several people familiar with the matter, Lawsky's cooperation is "crucial" if the state and federal prosecutors hope to agree to settlements with the banks that would require the banks to plead guilty to crimes. Lawsky could potentially strip the banks of their licenses to operate if they enter guilty pleas. Reference Link
News For BNPQY;CS From The Last 14 Days
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October 13, 2015
18:10 EDTCSNew York says Societe Generale, others must retain Symphony data
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13:21 EDTCSOptions with increasing volume; WFT TWOU TAP LLTC BUD ATML CS GSK DPS
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08:13 EDTCSSwiss finance ministry to put 5% leverage ratio on big lenders, Bloomberg says
Switzerland's finance ministry will ask the nation's largest banks to cooperate with a too-big-to-fail rules modeled on U.S. regulations after spurning requests from UBS (UBS) and Credit Suisse (CS) for simpler terms, Bloomberg reports, citing people briefed on the deliberations. The ministry will demand banks have capital equivalent to roughly 5% of total assets, in line with the U.S. leverage ratio for big lenders and above the 3% minimum set in a global pact by the Basel Committee on Banking Supervision, the report says. The Swiss government will also align its calculation of the ratio with the way the U.S. does it, resulting in fewer types of debt counting towards capital, the report says. Reference Link
October 11, 2015
15:44 EDTCSCredit Suisse plans to cut costs 7%-10%, Bloomberg says
Credit Suisse plans to cut costs by 7%-10%, potentially translating into annual savings of roughly $2.1B, reports Bloomberg, citing German publication Schweiz am Sonntag, which cited several Credit Suisse managers. The plan could include job cuts and would enable the bank to expand investments in Asia, said the report. Reference Link
October 9, 2015
11:21 EDTCSCredit Suisse considering up to $8.3B stock sale, Bloomberg reports
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08:31 EDTCSSecurities Industry and Financial Markets Association to hold a conference
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October 8, 2015
08:13 EDTCSCredit Suisse to launch 'substantial' capital raise, FT reports
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October 6, 2015
12:38 EDTBNPQYBNP Paribas management to meet with JPMorgan
Meetings to be held in Boca Raton/Winter Park, FL on October 5, in Austin/Houston on October 6, in Des Moines/Kansas City on October 7, in Columbus/Minneapolis on October 8 and in Denver on October 9 hosted by JPMorgan.
07:31 EDTCSbloomberg to hold a summit
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07:30 EDTCSbloomberg to hold a summit
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October 1, 2015
07:28 EDTCSSEC Commissioner calls for increased transparency for dark pools, Reuters says
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September 30, 2015
18:21 EDTBNPQYGeneral Electric confirms sale of railcar services to Wells Fargo
General Electric (GE) confirmed that it has reached separate agreements to sell its tank car fleet assets and railcar repair facilities to Marmon Holdings and its remaining railcar leasing business, General Electric Railcar Services to Wells Fargo (WFC). Terms of the transactions are not being disclosed. "We expect to be substantially done with our exit strategy [to sell most of the assets of GE Capital] by the end of 2016," noted GE Capital chairman and CEO Keith Sherin. "GE and its board of directors have determined that market conditions are favorable to pursue disposition of these assets. GE Capital will retain the financing 'verticals' that relate to GE's industrial businesses," the company noted. The sale of the tank car assets is effective immediately and closed Wednesday. The sale of the railcar repair facilities is expected to close in Q4. The sale of the remaining railcar leasing business is expected to close by the end of 1Q16. When completed, the rail transactions, which represent about $4B of ending net investment, will contribute approximately $1.3B of capital to the overall target of approximately $35B of dividends expected to GE under this plan. The company also noted that the completion of the sale of GE's European fleet businesses to Arval, a fully owned subsidiary of BNP Paribas (BNPQY), is expected to close in Q4.
September 29, 2015
12:12 EDTBNPQYAB InBev taps BofA, Santander for SABMiller offer financing, Bloomberg says
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