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Stock Market & Financial Investment News

News Breaks
May 27, 2014
07:04 EDTING, UBS, CS, HSBC, DB, LYG, SAN, RBS, BCSECB could take steps to fight deflation, NY Times says
The euro zone could be caught in a deflationary spiral, and the central bank would respond to persistently lower than expected inflation by launching "a broad-based asset purchase program," ECB President Mario Dragh said yesterday, according to The New York Times. Analysts say that the ECB on June 5 could cut its benchmark interest rate to 0.15% from 0.25%, and implement a negative deposit rate that would charge lenders for keeping their funds at the central bank, the newspaper reported. Meanwhile, Draghi hinted yesterday that the ECB could take steps to encourage banks to lend more. 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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September 24, 2014
09:33 EDTRBSCitizens Financial IPO indicated to open $21.25
Citizens Financial (CFG) priced 140M shares at $21.50. Morgan Stanley and Goldman acted as joint book running managers for the offering. Citizens Financial is a U.S. subsidiary of Royal Bank of Scotland (RBS).
05:45 EDTUBSMorgan Stanley downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded its rating on Morgan Stanley (MS) to Neutral saying shares look expensive and that it does not see the bank meeting its 10% return on equity target. JPMorgan sees better value in other investment banks, specifically UBS (UBS), and keeps a $34 price target for Morgan Stanley shares. The stock closed yesterday down 16c to $35.02.
September 23, 2014
15:34 EDTRBSRBS pressured to lower Citizens Financial IPO price range, FT says
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13:22 EDTSANUniCredit, Santander begin exclusive discussions to blend units, WSJ says
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12:49 EDTBCSSEC says Barclays failed to maintain adequate internal compliance system
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08:34 EDTDBDeutsche Bank co-CEO, former CEOs face fraud charges in Kirch case, AP says
The Munich prosecutor's office has charged Deutsche Bank co-CEO Juergen Fitschen, as well as former CEOs Rolf Breuer and Josef Ackermann, with attempted serious fraud over allegedly misleading statements made during a lawsuit brought by Leo Kirch, reported Associated Press. Reference Link
08:14 EDTUBSCFA Society of Chicago to hold a meeting
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06:20 EDTSANUniCredit, Banco Santander may enter talks to combine units, WSJ reports
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06:18 EDTBCSFCA fines Barclays GBP 37.75M for putting assets at risk
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06:02 EDTBCSBarclays CEO defends bank against dark pool allegations, CNBC reports
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September 22, 2014
13:39 EDTBCSFCA to fine Barclays GBP 38M over client assets, Sky News reports
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09:24 EDTUBSAppeals court upholds UBS must deposit EUR1.1B over tax charges, Reuters says
A French appeals court upheld a prior ruling and ordered UBS to deposit EUR1.1B as a guarantee for the fine the court believes the bank may need to pay if it is found guilty of assisting its wealthy French customers to avoid paying taxes, reported Reuters. Reference Link
09:04 EDTUBSFrench court rules UBS must deposit $1.4B, Bloomberg reports
07:49 EDTDBDeutsche Bank fires Sydney-based currency trader, FT reports
Deutsche Bank has fired Andy Donaldson, a Sydney-based currency trader, for allegedly misreporting trades, the Financial Times reports. Donaldson was suspended in June after checks uncovered "irregularities" in how his trading activities were recorded. Reference Link
07:23 EDTRBSReport says Julius Baer mulling RBS unit acquisition, Reuters says
A report from German newspaper Sonntagsblick noted that Julius Baer (JBAXY) CEO Boris Collardi said that the company is contemplating an acquisition agreement for Royal Bank of Scotland's (RBS) Coutts International, according to Reuters, citing comments from Collardi in the report. Collardi said that the Swiss company is not looking to get in a bidding battle for Coutts' overseas division. Reference Link
06:15 EDTRBS, LYGLloyds Banking could still leave Scotland, Daily Mail reports
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September 19, 2014
06:46 EDTRBSStarwood Property appoints Jeffrey DiModica President effective September 18
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September 18, 2014
11:39 EDTSANFederal Reserve takes enforcement actions against Banco Santander unit
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07:52 EDTSAN, UBS, RBS, BCS, DB, HSBC, ING, LYG, CSUBS Chair says litigation bigger worry than stress test, Bloomberg reports
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06:39 EDTLYG, RBS, CS, DB, BCS, HSBC, ING, UBS, SANEuropean banks take out EUR83B of loans from central bank, NY Times says
European banks agreed to take out EUR83B in low interest loans from the European Central Bank, as part of a program in which all of the funds must be loaned to businesses or individuals, or repaid to the central bank within two years, according to The New York Times. Several analysts had said that they would be disappointed if banks took out less than EUR100B in loans, but a number of analysts said that a second round of the program, due to occur in December after stress tests have been completed, may be more popular, 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
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