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Stock Market & Financial Investment News

News Breaks
April 29, 2014
07:53 EDTING, UBS, CS, HSBC, DB, LYG, SAN, RBS, BCSEU unveils adverse scenario for stress tests, WSJ reports
Beginning in May, 124 major EU banks will be stress-tested under the European Banking Authority's newly-unveiled adverse scenario, in which the EU economy would fall into a two-year recession, unemployment across the bloc would reach 13%, and house and stock prices would collapse, The Wall Street Journal reported. The results are expected in October, just before the ECB takes over bank supervision from national bodies. 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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October 22, 2014
13:39 EDTLYGLloyds plans 9,000 job cuts over three years, Mark Kleiman says
Mark Kleiman of Sky News said in a tweet that Lloyds will cut 9,000 jobs over three years, or 10% of its workforce. An announcement is expected next week. Reference Link
October 21, 2014
10:01 EDTCSPhoenix Companies partners with Credit Suisse
Phoenix Companies (PNX) announced that it has entered into a partnership with Credit Suisse (CS) to license the CS Tactical Multi Asset Index.
08:31 EDTCS, UBSEU fines JPMorgan, UBS, Credit Suisse for cartel on derivatives
The European Commission has found that four international banks, RBS (RBS), UBS (UBS), JP Morgan (JPM) and Credit Suisse (CS), operated a cartel on bid-ask spreads of Swiss franc interest rate derivatives in the European Economic Area. The Commission imposed fines worth a total of EUR 32.36M. RBS received immunity from fines for revealing the existence of the cartel to the Commission. UBS and JPMorgan received reductions of their respective fines for cooperating with the investigation under the Commission's 2006 Leniency Notice. UBS was fined EUR 12.65M, JP Morgan fined EUR 10.53M and Credit Suisse was fined EUR 9.17M.
08:28 EDTRBSEuropean Commission fines JMorgan EUR 61.68M over Libor influencing
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08:18 EDTHSBC, RBS, ING, LYG, UBS, CS, SAN, BCS, DBBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU 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
08:12 EDTUBS, CS, RBSJPMorgan, UBS, Credit Suisse to be fined by EU over Libor rigging, Reuters says
JPMorgan (JPM), UBS (UBS) and Credit Suisse (CS) will be fined $115M collectively for their roles in rigging Swiss franc Libor rates, with JPMorgan's fine of $89M making up the lion's share of the penalty, said Reuters, citing a person familiar, who added that Royal Bank of Scotland (RBS) would not be penalized for its own role since it alerted the European Commission to the issue. Reference Link
06:52 EDTDBCiti purchasea Deutsche energy, metals book, Reuters says
Citigroup (C) acquired Deutsche Bank's (DB) energy and metals book, which is the U.S. company's latest expansion effort in commodities trading as some of its competitors look to exit that sector, according to Reuters, citing a source familiar with the matter. Reference Link
October 20, 2014
07:21 EDTBCS, UBSFederal Reserve Bank of New York and Boston to hold a workshop
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October 19, 2014
14:03 EDTUBSUBS stays with risky Puerto Rico bond fund recommendations, Reuters says
Despite numerous arbitration claims by investors who cite Puerto Rico closed-end bond funds for losses, UBS has told brokers that they may continue to recommend the funds, says Reuters. Reference Link
October 17, 2014
06:07 EDTCSCredit Suisse names Sitohang Asia Pacific CEO
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05:51 EDTSANStocks with implied volatility movement; SD SAN
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October 16, 2014
08:42 EDTRBS, BCS, HSBC, UBSUBS, DOJ in talks for forex rigging settlement, FT reports
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07:23 EDTCSHart Energy to hold a conference
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06:50 EDTSAN, UBS, LYG, CS, BCS, DB, RBS, ING, HSBCEuropean regulator rejects bonus loophole, NY Times says
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October 15, 2014
09:14 EDTDBDeutsche Asset & Wealth Management hires Dessy Arteaga from JPMorgan
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07:27 EDTBCS, RBS, UBS, HSBCJPMorgan, HSBC fire traders linked to forex probe, WSJ reports
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07:26 EDTDBCapital Link to hold a webinar
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October 14, 2014
06:45 EDTBCS, RBS, LYG, HSBCData says UK banks paid less than 40% to cover mis-selling, Reuters says
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October 12, 2014
19:36 EDTDBDeutsche Bank loses traders as it enforces behavior policy, FT says
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14:42 EDTDBDeutsche Bank's provisions for legal costs may rise to $8.8B, Bloomberg says
Deutsche Bank's allocation for potential legal costs may rise to as much as $8.8B, says Bloomberg, citing a report from Spiegel. The banks legal costs which were 3B euros last year are impeding its efforts to build capital and increase returns for investors, added Bloomberg. Reference Link
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