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Stock Market & Financial Investment News

News Breaks
April 5, 2013
06:07 EDTDELL, DTEGY, PCS, BX, RBSOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: The "fear trade" is alive and well as investors rediscovered the appeal of haven Treasury bonds on Thursday, amid a flurry of worrying news ranging from North Korea to the domestic job market. The mood change sent Treasury prices rallying to the highest point this year, the Wall Street Journal reports...Wall Street has a lot more than bragging rights riding on the $24B-plus takeover battle for Dell (DELL). Some of the biggest banks are vying for fees that together could top $400M for advising and financing the buyout of the computer group, sources say, the Wall Street Journal reports..REUTERS: Bank of Japan Governor Haruhiko Kuroda played down concerns his unprecedented burst of monetary stimulus would create asset-price bubbles even as it delivered an immediate pay-off in global markets, with government bond yields at a record low, the yen hitting a 3-1/2 year trough and as stocks surging to multi-year highs, Reuters reports...Deutsche Telekom (DTEGY) is looking into improving the terms of a proposed merger of its T-Mobile USA unit with MetroPCS Communications (PCS) as a last resort to win over shareholders ahead of a vote on the deal next week, sources say, Reuters reports...BLOOMBERG: Blackstone Group (BX) and Dell’s (DELL) Michael Dell have yet to resolve a critical issue, sources say: what role he would play if the private equity firm wins the bidding for the company, Bloomberg reports...Royal Bank of Scotland’s (RBS) Japan unit faces penalties after the Securities and Exchange Surveillance Commission found that employees attempted to manipulate benchmark interest rates, Bloomberg reports.
News For DELL;DTEGY;PCS;BX;RBS From The Last 14 Days
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July 25, 2014
09:01 EDTRBSRoyal Bank of Scotland sees 1H profit before tax GBP2.65B
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07:57 EDTRBSRBS says private equity investment in Ulster possible, Reuters reports
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06:40 EDTRBSLoan write down standards changed for non-U.S. banks, NY Times says
A new accounting rule will enable banks outside of the U.S. to write down the value of loans earlier but could cause loans to become less attractive for those banks, according to The New York Times. The rule was issued by the International Accounting Standards Board, whose guidelines are followed in more than 100 countries but not in America, the newspaper stated. Publicly traded European 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
July 24, 2014
08:30 EDTBXCarlyle may be last firm in rigging suit as peers near settlement, NY Post says
Carlyle Group (CG) may soon be the only private equity firm left to settle a suit that accused it and several of its peers of conspiring to hold down deal prices and one source close to the situation said “my expectation is there will be a trial,” according to The New York Post. Bain Capital, Silver Lake and Goldman Sachs (GS) previously settled for a combined $150.5M and KKR (KKR), Blackstone (BX) and TPG Capital are expected to settle for an amount above that "within days," the report said. Reference Link
July 23, 2014
09:00 EDTRBSU.K. committee chair says RBS 'willfully obtuse' with evidence, Reuters says
The chairman of the U.K.'s Treasury Select Committee accused Royal Bank of Scotland of being "willfully obtuse" when giving evidence to lawmakers probing its Global Restructuring Group unit, which deals with corporate clients who find themselves in financial distress, said Reuters. Reference Link
08:01 EDTBXBlackstone acquires majority stake in Service King Collision Repair Centers
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07:45 EDTBXSEC to approve money fund rules with exemptions for discount brokers, WSJ says
New money-market mutual fund rules that are expected to be approved at a Securities and Exchange Commission meeting on Wednesday will exempt discount brokers like Charles Schwab (SCHW) from some provisions, reported The Wall Street Journal. Under the SEC's planned rules, "prime" money funds that are held by corporations and institutional investors will have to abandon a fixed $1-a-share price and float in value like other mutual funds, according to the report, citing people familiar with the matter. Analysts said Schwab and other large money-fund sponsors, Vanguard and Fidelity, would do well under the plan, according to the report. Blackstone (BX) also offers money-market mutual funds. Reference Link
06:56 EDTRBSRBS could sell Ulster Bank to private equity firm, Irish Examiner reports
Royal Bank of Scotland (RBS) is considering selling its Ulster Bank unit to a private equity firm, the Irish Examiner. A purchase price for the unit could be anywhere between EUR500M-EUR2.5B, depending on what assets are included in the sale, the publication says. KKR (KKR) and Apollo (APO) are rumored buyers for the unit. Reference Link
July 22, 2014
15:49 EDTBXBlackstone to buy majority stake in Service King from Carlyle, WSJ says
Blackstone's (BX) purchase from Carlyle Group (CG) of the majority stake in the repair chain values the company at about $650M, according to The Wall Street Journal, citing a source. Reference Link
14:25 EDTBXBlackstone to buy majority stake in Service King from Carlyle, Dow says
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July 18, 2014
11:21 EDTRBSBritish antitrust regulator to investigate country's banks, NY Times reports
The U.K.'s antitrust authorities said they expected to open a formal investigation into Britain's retail banking industry, reports the New York Times. The regulators cited barriers to competition that include control of a national network of branches by four large banks that control more than three-quarters of the market. Reference Link
09:18 EDTDTEGYSoftbank hire of Arora from Google 'interesting,' says Wells Fargo
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07:14 EDTBXBlackstone, KKR, TPG discussing deal collusion suit settlement, Reuters says
Blackstone (BX), KKR (KKR) and TPG Capital are in discussions to settle a U.S. case accusing the firms of conspiring not to outbid one another and other buyout companies on takeovers of firms, according to Reuters, citing two people familiar with the matter. If all three companies settled, the Carlyle Group (CG) would be the only private equity company still up against a trial among 11 firms originally accused of colluding in agreements before the financial crisis occurred. Reference Link
07:08 EDTDTEGYSoftbank, T-Mobile final agreement could come after late August, Kyodo News says
According to Kyodo News, Softbank's (SFTBF) buyout talks with T-Mobile (TMUS) won't be settled until after late August. Deutsche Telecom (DTEGY) is "reluctant" to accept Softbank's business plan and is seeking a new plan, industry sources say. Reference Link
06:31 EDTRBSRBS winds-down distressed-debt unit as Weiss leaves, Bloomberg says
Royal Bank of Scotland is capping a distressed-debt division as it scales back its investment firm to revive profitability, according to Bloomberg citing three people familiar with the matter. The sources said that global head of a special situations group, Jon Weiss, departed this month. Reference Link
06:20 EDTRBSRBS considers selling Coutts' overseas operations, FT reports
Royal Bank of Scotland is eyeing the sale of Coutts' overseas operations, the Financial Times reports. The bank is currently conducting a review of its wealth management division. Reference Link
July 17, 2014
07:27 EDTBXBlackstone buys CatalunyaCaixa loan portfolio
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07:13 EDTBXBlackstone reports total assets under management of $279B
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07:11 EDTBXBlackstone reports Q2 EPS $1.15, consensus 71c
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07:11 EDTBXBlackstone buys Catalunya Banc mortgage portfolio for $5B, Reuters says
Blackstone has purchased a large mortgage portfolio from Spain's Catalunya Banc for $5B in an agreement backed by fresh state funds as the government aims to sell the firm, reported Reuters. Reference Link
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