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Stock Market & Financial Investment News

News Breaks
May 18, 2014
20:17 EDTDBDeutsche Bank announces capital increase with Qatar taking stake
Deutsche Bank announced a capital increase with proceeds expected to be approximately EUR8B. The capital increase will include an ex-rights issue of EUR1.75B which has already been placed with an anchor investor and a fully underwritten rights issue. The rights issue is expected to raise EUR6.3B of new equity. The capital measures will increase the Common Equity Tier 1, CET1, ratio by approximately 230 basis points from 9.5% at the end of the first quarter 2014 to 11.8% on a pro forma CRD4 fully-loaded basis. This increase follows significant strengthening of this ratio, which stood below 6% in mid 2012, under Strategy 2015+. These measures will substantially increase the Bank’s capital ratio, provide a buffer for future regulatory requirements, and support targeted business growth. Deutsche Bank placed approximately 60M shares at a price of EUR29.20 per share with Paramount Holdings Services Ltd., an investment vehicle owned and controlled by His Excellency Sheikh Hamad Bin Jassim Bin Jabor Al-Thani of Qatar, who intends to remain an anchor investor in Deutsche Bank. Additionally, through the rights issue, Deutsche Bank expects to issue up to 300M new shares. The rights offering will be led by Deutsche Bank as global coordinator and bookrunner. A syndicate of banks have agreed to a firm underwriting of the new shares. Subject to the approval by the BaFin, a securities prospectus is expected to be published on 5 June 2014. The subscription period is expected to run through 24 June 2014.
News For DB From The Last 14 Days
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December 18, 2014
06:35 EDTDBDeutsche Bank to examine strategy, may revise profit targets, Reuters reports
Deutsche Bank said it would examine its strategy next year, according to Reuters. The statement came after a business magazine said the bank was weighing major changes, possibly including revising its profit targets and selling its Postbank retail unit, the news service stated. Reference Link
December 17, 2014
07:20 EDTDBCapital Link to hold a forum
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December 11, 2014
13:40 EDTDBEuro zone banks accepted $160B in low interest loans, NY Times says
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10:17 EDTDBFINRA 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 EDTDBNY investigating Deutsche Bank, Barclays currency trading, Reuters 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 EDTDBOn The Fly: Analyst Downgrade Summary
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08:40 EDTDBDeutsche Bank and Cisco to host a conference call
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06:00 EDTDBDeutsche Bank downgraded to Underperform from Market Perform at Keefe Bruyette
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