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Stock Market & Financial Investment News

News Breaks
May 27, 2014
06:16 EDTCS, HSBC, JBAXYCredit Swiss tax case sparks probe of 13 other banks, Bloomberg says
Thirteen Swiss banks are now up against rising stakes in their own criminal investigations after Credit Suisse (CS) set a new precedent for punishment regarding offshore tax evasion, according to Bloomberg, citing comments from assistant U.S. Attorney General Kathryn Keneally. Julius Baer (JBAXY), Zuercher Kantonalbank and the Swiss division of HSBC (HSBC) are among the firms seeking to avoid pleading guilty to helping Americans cheat the Internal Revenue Service. Reference Link
News For CS;HSBC;JBAXY From The Last 14 Days
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October 23, 2014
06:43 EDTCSCredit Suisse head detects no tangible worries in forex probe, Reuters says
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05:44 EDTCSCredit Suisse says 'mixed start to October'
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05:44 EDTCSCredit Suisse reports Q3 net income CHF 1.03B vs. CHF 454M last year
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October 21, 2014
10:01 EDTCSPhoenix Companies partners with Credit Suisse
Phoenix Companies (PNX) announced that it has entered into a partnership with Credit Suisse (CS) to license the CS Tactical Multi Asset Index.
08:31 EDTCSEU fines JPMorgan, UBS, Credit Suisse for cartel on derivatives
The European Commission has found that four international banks, RBS (RBS), UBS (UBS), JP Morgan (JPM) and Credit Suisse (CS), operated a cartel on bid-ask spreads of Swiss franc interest rate derivatives in the European Economic Area. The Commission imposed fines worth a total of EUR 32.36M. RBS received immunity from fines for revealing the existence of the cartel to the Commission. UBS and JPMorgan received reductions of their respective fines for cooperating with the investigation under the Commission's 2006 Leniency Notice. UBS was fined EUR 12.65M, JP Morgan fined EUR 10.53M and Credit Suisse was fined EUR 9.17M.
08:18 EDTHSBC, CSBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
08:12 EDTCSJPMorgan, UBS, Credit Suisse to be fined by EU over Libor rigging, Reuters says
JPMorgan (JPM), UBS (UBS) and Credit Suisse (CS) will be fined $115M collectively for their roles in rigging Swiss franc Libor rates, with JPMorgan's fine of $89M making up the lion's share of the penalty, said Reuters, citing a person familiar, who added that Royal Bank of Scotland (RBS) would not be penalized for its own role since it alerted the European Commission to the issue. Reference Link
October 17, 2014
06:07 EDTCSCredit Suisse names Sitohang Asia Pacific CEO
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October 16, 2014
08:42 EDTHSBCUBS, DOJ in talks for forex rigging settlement, FT reports
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07:23 EDTCSHart Energy to hold a conference
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06:50 EDTCS, HSBCEuropean regulator rejects bonus loophole, NY Times says
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October 15, 2014
07:27 EDTHSBCJPMorgan, HSBC fire traders linked to forex probe, WSJ reports
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October 14, 2014
06:45 EDTHSBCData says UK banks paid less than 40% to cover mis-selling, Reuters says
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October 10, 2014
09:13 EDTHSBC, CSEBA says EU stress test results to be published October 26
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October 9, 2014
08:21 EDTCSGoldman, Credit Suisse invest in digital surveillance start-up, Bloomberg says
A group of banks, led by Goldman Sachs (GS) and Credit Suisse (CS), invested $24M in Digital Reasoning, a data analytics start-up whose CEO, Tim Estes, said the banks want a way to surveil millions of e-mails, instant messages, and transcripts of calls to spot suspicious behavior "when it happens, not in an investigation three years later. Reference Link
06:37 EDTHSBCJPMorgan hackers linked to 13 other possible breaches, Bloomberg says
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