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Stock Market & Financial Investment News

News Breaks
January 16, 2013
10:02 EDTGS, MSGoldman Sachs, Morgan Stanley to pay $557M in mortgage settlement
News For GS;MS From The Last 14 Days
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August 18, 2014
09:20 EDTGSDeutsche Bank appoints Shannon Americas Chief Information Officer
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06:47 EDTMSU.S. banks consider Ireland fitting spot for EU divisions, FT says
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August 17, 2014
16:34 EDTGSMick Davis in talks to buy Colombia's CNR from Goldman, Sunday Times says
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August 15, 2014
06:48 EDTMSMorgan Stanley settles overtime pay suit with $4.2M, Reuters says
Morgan Stanley and sales assistants in the firm's wealth management division system who alleged that they were owed overtime compensation finally agreed to settle the matter with $4.2M, according to Reuters, citing comments from a company spokeswoman in an e-mail. The spokeswoman said, “Morgan Stanley maintains robust policies to ensure that non-exempt employees are paid for all time worked. However, with this settlement we will put an end to protracted and expensive litigation that is a distraction from our business.” Reference Link
August 14, 2014
06:40 EDTGSCarlyle hires firms for Axalta IPO, Reuters says
Carlyle Group (CG) gave Citigroup (C) and Goldman Sachs (GS) leading positions in the possible IPO of Axalta Coating Systems just eighteen months after it acquired the firm from DuPont (DD) for $4.9B, according to Reuters, citing people familiar with the matter. One of the sources said that the IPO could bring in nearly $1B. Reference Link
06:39 EDTGSGoldman hired by Emerson for sale of power division, Reuters says
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06:35 EDTGSGoldman unit last bidder for Tokyo tower worth $1.6B, Reuters says
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August 13, 2014
07:22 EDTGSGoldman pushes Cisco head to step-up software, Bloomberg says
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06:19 EDTGS, MSBanks pressing Federal Reserve to delay rule on investments, WSJ says
Banks are pushing U.S. policy makers for a delay of a rule that requires them to sell investments in private-equity and venture-capital funds, reports the Wall Street Journal. According to people familiar with the effort, bank officials, trade groups and lawmakers are lobbying the Federal Reserve to delay the rule for up to seven years that limits banks' investments. Reference Link
August 12, 2014
07:48 EDTMS, GSBanks posted second-highest profit in 23 years in second quarter, WSJ says
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August 11, 2014
17:28 EDTGSGoldman Sachs reports 11.5% passive stake in 58.com
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August 8, 2014
07:23 EDTGSLevin probe of Goldman, JPMorgan commodity trading nears end, Reuters says
Senator Carl Levin's investigators have met with representatives from Goldman Sachs (GS) and JPMorgan (JPM) in recent weeks as his office wraps up its probe of the bank's commodity trading businesses, which could potentially reveal abuses in energy and metals markets, according to Reuters, citing sources familiar with the matter. Executives from the banks may appear at a hearing as early as September, the report added. Reference Link
07:18 EDTGS, MSRegulators direct banks to steer mortgage aid to hard-hit areas, FT says
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August 7, 2014
06:39 EDTGSGoldman lowers legal loss over reserves estimate to $3.2B from $3.7B
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August 6, 2014
08:20 EDTGS, MSFed, FDIC tell big banks to revise 'living will' plans
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06:30 EDTGSDeutsche Bank, Goldman near agreement for NBG unit, Bloomberg says
The private-equity arms of Deutsche Bank (DB) and Goldman Sachs (GS) are close to finalizing a deal to purchase the buyout division of National Bank of Greece (NBG) for close to $506M, according to Bloomberg, citing two people with knowledge of the matter. Reference Link
06:27 EDTMSMorgan Stanley says continuing to respond to subpoenas, requests for information
Morgan Stanley said in a filing that it is continuing to respond to subpoenas and requests for information from certain federal and state regulatory and governmental entities, including among others various members of the RMBS Working Group of the Financial Fraud Enforcement Task Force, concerning the origination, financing, purchase, securitization and servicing of subprime and non-subprime residential mortgages and related matters such as residential mortgages backed securities, collateralized debt obligations, structured investment vehicles and credit default swaps backed by or referencing mortgage pass through certificates. These matters include, but are not limited to, investigations related to the company’s due diligence on loans that it purchased for securitization, the company’s communications with ratings agencies, the company’s disclosures to investors, and the Company’s handling of servicing and foreclosure related issues. On May 8, the California Attorney General’s Office, which is one of the members of the RMBS Working Group, indicated that it has made certain preliminary conclusions that the Company made knowing and material misrepresentations regarding RMBS and that it knowingly caused material misrepresentations to be made regarding the Cheyne SIV, which issued securities marketed to the California Public Employees Retirement System. The CAAG has further indicated that it believes the company’s conduct violated California law and that it may seek treble damages, penalties and injunctive relief. The company does not agree with these conclusions and has presented defenses to them to the CAAG. On July 23, the U.S. SEC approved the company’s Offer of Settlement to resolve the SEC’s investigation of certain subprime RMBS transactions sponsored and underwritten by the company in 2007. Pursuant to the settlement, the company was charged with violating Sections 17(a)(2) and 17(a)(3) of the Securities Act, agreed to pay disgorgement and penalties in an amount of $275M and neither admitted nor denied the SEC’s findings.
06:25 EDTMSMorgan Stanley says added $53M to legal costs in Q2, cutting EPS by 2c
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06:23 EDTMSSecurities Industry & Financial Markets Association to hold a seminar
Compliance & Legal Society Regional Seminar to be held in San Francisco on August 6.
06:19 EDTMSCFA Society of Minnesota to hold a conference
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