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Stock Market & Financial Investment News

News Breaks
March 5, 2014
06:36 EDTRBS, DB, UBS, SAN, HSBC, ING, BCS, LYG, CSEU official warns against bank bonus loopholes, NY Times reports
A top official at the EU's European Commission yesterday warned banks against using a loophole that has enabled them to give extra compensation to their employees despite limits on bank bonuses, according to The New York Times. The commission yesterday finalized its rule that limits bonuses for EU bankers, the newspaper noted. 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
News For ING;UBS;CS;HSBC;DB;LYG;SAN;RBS;BCS From The Last 14 Days
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December 16, 2014
06:35 EDTLYG, BCS, HSBC, RBSBank of England says seven of eight banks pass stress test
The Bank of England said that all but one of the eight banks passed its stress test. The one bank, Co-operative, needs to submit a revised plan to strengthen its balance sheet. Royal Bank of Scotland (RBS), Lloyds (LYG) and Co-operative were found to be the most susceptible to a housing crash and spike in unemployment. RBS and Lloyds passed the stress test, however. Both banks need improved capital positions, but have already put in place plans to do so, the central bank's Prudential Regulation Authority stated. Reference Link
06:07 EDTRBSRBS to sell portfolio of Irish real estate loans to Cerberus for GBP 1.1B
The Royal Bank of Scotland Group announced the agreement to sell a portfolio of Irish real estate loans to an entity controlled by Cerberus. At completion, RBS will receive cash consideration of up to GBP 1.1B at current exchange rates. Completion is expected in 1Q15. The sale proceeds will be used for general corporate purposes. The transaction, which represents RWA equivalent of cGBP 1.22B as at September 30, is part of the continued reduction of assets in its RBS Capital Resolution division and is in line with the bank's plan to strengthen its capital position and reduce higher risk exposures. The carrying value of the loans is cGBP 1B, the gross assets are cGBP 4.8B and generated a loss of GBP 0.8B, principally impairment provisions, in the year to December 31, 2013.
December 11, 2014
15:56 EDTSANAutomaker lending arms probed by NYDFS, NY Post reports
The New York Department of Financial Services has subpoenaed the financing arms of Ford (F), Honda (HMC), Hyundai, Nissan (NSANY) and Volkswagen (VLKAY), as well as Banco Santander (SAN) and TD Bank (TD), said the New York Post, citing a source familiar with the investigation. Reference Link
13:40 EDTSAN, HSBC, LYG, RBS, CS, BCS, DB, UBS, INGEuro zone banks accepted $160B in low interest loans, NY Times says
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10:17 EDTBCS, CS, DBFINRA 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 EDTBCS, DBNY investigating Deutsche Bank, Barclays currency trading, Reuters reports
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December 10, 2014
08:45 EDTRBSRBS to exit bond trading in Japan, WSJ reports
Royal Bank of Scotland Group plans to give up its primary dealership in the Japanese government bond market early next year as part of the bank’s strategy to scale back its fixed-income businesses due to increasing regulatory costs, said The Wall Street Journal, citing a person familiar with the matter. The move will likely result in "sizable" job cuts, the report added. Reference Link
06:21 EDTHSBCHSBC fires London-based head of currencies trading, WSJ reports
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December 9, 2014
15:19 EDTSANSantander says not weighing buyback of Santander Consumer shares, Bloomberg says
Bloomberg cites an e-mailed statement from Banco Santander (SAN). Note that earlier today Bloomberg reported, citing people with knowledge of the matter, that Banco Santander was considering the acquisition of Santander Consumer USA (SC).
10:39 EDTSANSantander weighs buyout of Santander Consumer, Bloomberg reports
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10:13 EDTSANSantander considering Santander Consumer USA buyout, Bloomberg 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 EDTDB, HSBCOn The Fly: Analyst Downgrade Summary
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08:40 EDTDBDeutsche Bank and Cisco to host a conference call
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07:56 EDTCS, RBSRBS asks Credit Suisse, others for Coutts bids by Christmas, Reuters says
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06:21 EDTBCSDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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06:01 EDTHSBCHSBC downgraded to Market Perform from Outperform at Keefe Bruyette
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06:00 EDTDBDeutsche Bank downgraded to Underperform from Market Perform at Keefe Bruyette
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December 7, 2014
18:31 EDTCSCredit Suisse assesses prime brokerage business, Reuters says
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