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Stock Market & Financial Investment News

News Breaks
March 24, 2014
07:17 EDTLYG, BNPQY, BCS, DB, RBS, HSBCBNP chief sees investment banker pay to fall, FT reports
Jean-Laurent Bonnafé, CEO of BNP Paribas, told the Financial Times that the profitability of investment banks was being hurt by new rules forcing them to hold more capital, which will in turn cause pay levels in the industry to fall. Other European banks that trade in the U.S. include Barclays (BCS), Deutsche Bank (DB), HSBC (HSBC), Lloyds Banking (LYG), and Royal Bank of Scotland (RBS). Reference Link
News For BNPQY;HSBC;DB;LYG;RBS;BCS From The Last 14 Days
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July 23, 2015
10:00 EDTBCSBarclays in talks to sell Portuguese banking unit, Bloomberg reports
Barclays is in advanced discussions with a Spanish bidder to sell its Portuguese banking unit, Bloomberg reports, citing people with knowledge of the plan. The sale would exclude Barclays' Portuguese credit-card business, the report says. Interested parties may include Bankinter, the report says. Reference Link
08:37 EDTBCSBarclays announces strategic partnership with Elkhorn Capital
Barclays announced a strategic partnership with Illinois-based investment firm Elkhorn Capital Group. The partnership is designed to extend Barclays’ product availability by bringing together its extensive experience in creating distinctive investment concepts with Elkhorn’s independent product expertise. The partnership will allow Barclays and Elkhorn to collaborate in offering clients access to additional products based on Barclays’ strategies.
July 22, 2015
19:14 EDTLYGJudge says Lloyds must release records in HBOS case, Reuters reports
London's High Court of Justice has ruled that Lloyds must disclose any legal advice it received prior to its acquisition of Halifax Bank of Scotland, as part of a GBP350M lawsuit brought by a group of Lloyds investors, Reuters reported earlier. The lawsuit alleges that Lloyds failed to disclose details of financial vulnerability at HBOS prior to seeking shareholder approval, said the report. Reference Link
18:18 EDTRBSRBS hires advisers to investigate treatment of small businesses, Reuters says
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06:15 EDTBCSBarclays close to SFO settlement over Qatar bribes, Daily Mail reports
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July 21, 2015
19:51 EDTHSBCJudge rejects HSBC attempt to dismiss credit union lawsuit, Reuters says
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06:08 EDTHSBC, LYG, RBS, BCSU.K. watchdog visited Barclays 186 times in 2014, Bloomberg reports
The FCA's supervisory team made 186 visits to Barclays (BCS) in 2014, more than any other British bank that year, Bloomberg reports. HSBC (HSBC) was next highest with 85 visits, with RBS (RBS) and Lloyds (LYG) following with 65 and 58 encounters, respectively, the report says. Reference Link
July 20, 2015
06:24 EDTBCSBarclays has no new target for layoffs, Reuters reports
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July 19, 2015
17:32 EDTBCSBarclays to cut 30,000 jobs in two years, The Times says
Barclays plan to cut 30,000 jobs within two years as it considers accelerating its cost-cutting program, reports The Times, citing senior sources. Reference Link
July 17, 2015
14:00 EDTDBEarnings Watch: Morgan Stanley rounds out quarterly results for financial firms
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06:54 EDTHSBCSaudi regulator probing HSBC's Saudi unit for valuation inflation, WSJ says
HSBC's Saudi Arabia unit is being investigated by regulators in the kingdom for its role in a stock listing that left investors experiencing heavy losses, the Wall Street Journal reports, citing sources familiar with the matter. Saudi Arabia's Capital Markets Authority, or CMA, suspended the unit from conducting certain asset management activities and is probing whether the company inflated the valuation of a construction firm's listing in 2008, the report says. Reference Link
06:36 EDTDBBaFin accuses Deutsche Bank execs of Libor negligence, WSJ reports
German regulators have accused several Deutsche Bank executives of failing to halt or notify regulators about years of attempted market manipulation, the Wall Street Journal reports, according to a confidential report. BaFin, Germany's financial watchdog, sent the report to Deutsche Bank's board on May 11, less than a month before the bank announced that its co-CEOs Anshu Jain and Jurgen Fitschen intended to resign, the report says. Jain was singled out particularly int he letter for allegedly providing inadequate leadership and failing to stop manipulation of the London interbank offered rate, or Libor, and other benchmarks, the report says. Four other Deutsche bank board members and two other senior executives were also harshly criticized by BaFin in the report for negligence and selective disclosures, the Wall Street Journal says. Reference Link
July 16, 2015
18:37 EDTBCSFINRA fines Barclays $800,000 over data reporting errors, Reuters says
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05:46 EDTDBFCA in early stages of investigation into Deutsche Bank, Financial Times reports
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July 15, 2015
09:53 EDTHSBCHSBC UK says Apple Pay support coming within 2 weeks, Apple Insider says
HSBC UK (HSBC) said that Apple Pay (AAPL) support is in its final testing and availability will be coming within two weeks, reports Apple Insider. An HSBC spokesperson said, "We are excited to be one of a small number of Apple Pay launch partners. We have been working closely with Apple and are now properly reviewing and testing our systems before launching in two weeks." Reference Link
08:35 EDTDBCNBC to hold a conference
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07:44 EDTBCSBarclays' Rake to step down from board to join WorldPay, Bloomberg reports
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July 14, 2015
06:30 EDTHSBCApple Pay launches in U.K., has technical problems, Reuters reports
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July 13, 2015
13:23 EDTDBNY regulator investigates suspected Deutsche Bank bribe attempt, FT reports
New York's Department of Financial Services has requested that Deutsche Bank provide details of a suspected bribe offered last December to a bank employee in Moscow, who allegedly was asked to resume conducting stock trades that might have breached money laundering rules, the Financial Times reports. The request is part of an investigation into whether $6B of trades made by Deutsche Bank for Russian clients constituted as money laundering, the report says. Reference Link
07:44 EDTHSBCHSBC to launch Apple Pay in UK on Tuesday, 9to5Mac reports
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