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Stock Market & Financial Investment News

News Breaks
June 5, 2014
08:02 EDTBCS, GS, DB, RBSDeclining revenuat banks could cost thousands of jobs, WSJ reports
The trading businesses inside global investment banks are expected to suffer job losses that could run into the thousands by the end of the year, reports the Wall Street Journal. According to people at the firms and recruiters who specialize in financial-services positions, the job cuts are due a persistent gap betwene revenue and employment. Reference Link
News For DB;BCS;RBS;GS From The Last 14 Days
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March 25, 2015
18:16 EDTBCSSFX Entertainment CEO Sillerman engages Barclays Capital, Jefferies
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March 24, 2015
07:45 EDTGSMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
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07:21 EDTDBDeutsche Bank weighs three options to improve profits, Bloomberg says
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06:08 EDTRBSU.S. regulators say BNP, HSBC, RBS must rewrite living wills
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March 23, 2015
06:58 EDTRBSCitizens Financial announces 115M share secondary offering by RBS
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06:23 EDTRBSRBS set to sell more shares in Citizens, The Telegraph reports
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06:21 EDTRBSUBS in discussions to lease space from RBS in Connecticut, WSJ reports
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March 22, 2015
18:14 EDTDBDeutsche Bank revamp to impact retail operations, Reuters says
The planned restructuring by Deutsche Bank will have the most impact on the bank's retail operations, says Reuters. According to sources, the bank's retail operations will "bear the brunt" of the revamp and will most likely be spun off in a stock market listing, added Reuters. Reference Link
17:51 EDTDBLawsky targets Deutsche Bank in Libor probe, FT says
According to people familiar with the matter, New York state's financial services regulator Benjamin Lawsky has joined other regulators investigating Deutsche Bank for manipulation of the Libor benchmark borrowing rate, says the Financial Times. Reference Link
17:03 EDTRBSCitizens Financial could return 30%, Barron's says
Citizens Financial (CFG), a spinoff from RBS (RBS), could return 30% in the next two years, Barron's contends in a feature article. Shares trade at about a 20% discount to peers, the paper adds. Reference Link
March 20, 2015
10:09 EDTGSAllstate enters accelerated share repurchase agreement with Goldman Sachs
Allstate (ALL) said in a filing that on March 19, the Registrant entered into an accelerated share repurchase agreement with Goldman, Sachs & Co. (GS), to purchase $500M of its outstanding common stock. The majority of the shares to be repurchased under this agreement will be received by the Registrant at the agreementís inception. It is expected that Goldman will purchase the shares that it delivers under the agreement in the market within a timeframe not to exceed three months. The final purchase price per share and number of shares to be delivered by Goldman will be determined at the conclusion of the agreement and settlement will consist of the Registrant receiving shares based on the average of the daily volume weighted average prices of the Registrantís common stock during the period of Goldman purchases. If the Registrant is required to pay a settlement amount, the Registrant may elect to settle in cash or shares of its common stock. The agreement is part of the Registrantís repurchase program totaling $3B that was announced on February 4, 2015. All of the shares acquired by the Registrant under the agreement will be placed into its treasury.
07:17 EDTDBDeutsche Bank investors pushing for Postbank sale, Financial Times says
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March 19, 2015
11:53 EDTGSU.S. banks face headwinds in unloading oil loans, WSJ says
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06:42 EDTGSAllianz hedges stake in China Pacific Insurance, Reuters says
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06:06 EDTGSSunrun powers up for IPO later this year, WSJ reports
Sunrun, a solar-energy company, is said to be working with Credit Suisse (CS) and Goldman Sachs (GS) on a potential IPO for later this year, sources tell The Wall Street Journal, which adds that the company was valued at $1.3B as of March 2014. Other solar companies that have gone public in recent years include residential solar installers like Vivint Solar (VSLR), backed by Blackstone (BX), and SolarCity (SCTY), backed by Tesla's (TSLA) Elon Musk. Reference Link
March 18, 2015
07:27 EDTBCS, GSFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:20 EDTRBS, BCSU.S. considers 'tearing up' non-prosecution deals with banks, Bloomberg says
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06:09 EDTGSGoldman Sachs prices 6M shares of specialty lending arm, WSJ reports
According to a source, late yesterday, Goldman Sachs priced 6M shares of Goldman Sachs BDC, its specialty lending arm, at $20 per share with the shares set to begin trading today, The Wall Street Journal reports. Shares of Goldman Sachs BDC will trade under the ticker symbol "GSBD." Reference Link
March 17, 2015
14:37 EDTBCSCiti, Barclays near $800M settelement of forex suit, WSJ says
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08:26 EDTRBSFreddie Mac, Fannie Mae begin legal battle against Nomura, RBS, NY Post says
Freddie Mac (FMCC) and Fannie Mae (FNMA) alleged in court proceedings Monday that they bought "bad" mortgages because they were mislead by banks, reports the New York Post, citing court arguments. Monday was the first day of the lawsuit against Nomura (NMR) and co-defendant Royal Bank of Scotland (RBS) which seeks $1B in damages as well as the ability to return the securities to the banks. Lawyers presented internal bank emails that identified some mortgages as "crap" or from "extremely dysfunctional" lenders, while the banks alleged that they fully disclosed the poor quality of the products. Reference Link
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