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Stock Market & Financial Investment News

News Breaks
April 30, 2014
06:31 EDTRBS, DB, ING, SAN, HSBC, BNPQY, BCS, LYG, UBS, CSU.S. close to filing criminal charges against large banks, NY Times says
U.S. prosecutors are close to filing criminal charges against a number of the world's largest banks, The New York Times reported, citing unnamed lawyers. The charges could produce guilty pleas, and the U.S. has decided to try to convince Credit Suisse (CS) and BNP Paribas (BNPQY) to plead guilty to criminal charges, the newspaper added. Other publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Banco Santander (SAN), Barclays (BCS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).Reference Link
News For CS;BNPQY;ING;UBS;HSBC;DB;LYG;SAN;RBS;BCS From The Last 14 Days
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December 16, 2014
06:07 EDTRBSRBS to sell portfolio of Irish real estate loans to Cerberus for GBP 1.1B
The Royal Bank of Scotland Group announced the agreement to sell a portfolio of Irish real estate loans to an entity controlled by Cerberus. At completion, RBS will receive cash consideration of up to GBP 1.1B at current exchange rates. Completion is expected in 1Q15. The sale proceeds will be used for general corporate purposes. The transaction, which represents RWA equivalent of cGBP 1.22B as at September 30, is part of the continued reduction of assets in its RBS Capital Resolution division and is in line with the bank's plan to strengthen its capital position and reduce higher risk exposures. The carrying value of the loans is cGBP 1B, the gross assets are cGBP 4.8B and generated a loss of GBP 0.8B, principally impairment provisions, in the year to December 31, 2013.
December 14, 2014
15:47 EDTBNPQYBNP Paribas management to meet with JPMorgan
Meetings to be held in Florida on December 15, in Des Moines/Kansas City on December 16, in Minneapolis on December 17 and in Canada/Seattle December 18 hosted by JPMorgan.
December 11, 2014
15:56 EDTSANAutomaker lending arms probed by NYDFS, NY Post reports
The New York Department of Financial Services has subpoenaed the financing arms of Ford (F), Honda (HMC), Hyundai, Nissan (NSANY) and Volkswagen (VLKAY), as well as Banco Santander (SAN) and TD Bank (TD), said the New York Post, citing a source familiar with the investigation. Reference Link
13:40 EDTRBS, UBS, ING, HSBC, BCS, CS, LYG, SAN, DBEuro zone banks accepted $160B in low interest loans, NY Times says
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10:17 EDTCS, BCS, DBFINRA fines Barclays Capital, Citigroup Global Markets, others $43.5M total
FINRA announced that it has fined 10 firms a total of $43.5M for allowing their equity research analysts to solicit investment banking business and for offering favorable research coverage in connection with the 2010 planned initial public offering of Toys"R"Us. FINRA fined the following firms. Barclays Capital (BCS) - $5M; Citigroup Global Markets (C) – $ 5M; Credit Suisse Securities (CS) – $5M; Goldman, Sachs & Co. (CS) – $5M; JP Morgan Securities LLC (JPM) – $5M; Deutsche Bank Securities Inc. (DB) – $4M; Merrill Lynch, Pierce, Fenner & Smith Inc. (BAC) – $4M; Morgan Stanley & Co., LLC (MS) – $4M; Wells Fargo Securities, LLC (WFC) – $4M; Needham & Company LLC – $2.5M. In addition, FINRA found that six of the 10 firms — Barclays, Citigroup, Credit Suisse, Goldman Sachs, JP Morgan and Needham — had inadequate supervisory procedures related to research analyst participation in investment banking pitches. Toys"R"Us and its sponsors offered each of the 10 firms various roles in the IPO but it eventually decided not to proceed with the offering. In settling this matter, the 10 firms neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
06:40 EDTDB, BCSNY investigating Deutsche Bank, Barclays currency trading, Reuters reports
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December 10, 2014
08:45 EDTRBSRBS to exit bond trading in Japan, WSJ reports
Royal Bank of Scotland Group plans to give up its primary dealership in the Japanese government bond market early next year as part of the bank’s strategy to scale back its fixed-income businesses due to increasing regulatory costs, said The Wall Street Journal, citing a person familiar with the matter. The move will likely result in "sizable" job cuts, the report added. Reference Link
06:21 EDTHSBCHSBC fires London-based head of currencies trading, WSJ reports
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December 9, 2014
15:19 EDTSANSantander says not weighing buyback of Santander Consumer shares, Bloomberg says
Bloomberg cites an e-mailed statement from Banco Santander (SAN). Note that earlier today Bloomberg reported, citing people with knowledge of the matter, that Banco Santander was considering the acquisition of Santander Consumer USA (SC).
10:39 EDTSANSantander weighs buyout of Santander Consumer, Bloomberg reports
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10:13 EDTSANSantander considering Santander Consumer USA buyout, Bloomberg reports
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December 8, 2014
15:26 EDTDBDeutsche Bank sued by U.S. over alleged scheme to avoid income taxes
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15:10 EDTDBDOJ files suit against Deutsche Bank over income tax avoidance, Bloomberg says
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10:00 EDTDB, HSBCOn The Fly: Analyst Downgrade Summary
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08:40 EDTDBDeutsche Bank and Cisco to host a conference call
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07:56 EDTCS, RBSRBS asks Credit Suisse, others for Coutts bids by Christmas, Reuters says
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06:21 EDTBCSDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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06:01 EDTHSBCHSBC downgraded to Market Perform from Outperform at Keefe Bruyette
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06:00 EDTDBDeutsche Bank downgraded to Underperform from Market Perform at Keefe Bruyette
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December 7, 2014
18:31 EDTCSCredit Suisse assesses prime brokerage business, Reuters says
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