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Stock Market & Financial Investment News

News Breaks
May 20, 2014
06:01 EDTCRARY, HSBC, JPMEU says JPMorgan, others may have breached antitrust rules
The European Commission said it has informed Credit Agricole (CRARY), HSBC (HSBC) and JPMorgan (JPM) of its preliminary view that they may have breached EU antitrust rules by "colluding to influence the pricing of interest rate derivatives denominated in the euro currency." The sending of a statement of objections does not prejudge the final outcome of the investigation, the agency noted. The statement added, "The Commission has concerns that the three banks may have taken part in a collusive scheme which aimed at distorting the normal course of pricing components for euro interest rate derivatives. If established, such behaviour violates Article 101 of the Treaty on the Functioning of the European Union and Article 53 of the European Economic Area (EEA) Agreement that prohibit anti-competitive business practices." Reference Link
News For JPM;HSBC;CRARY From The Last 14 Days
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November 12, 2014
16:23 EDTHSBC, JPMOn The Fly: Closing Wrap
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12:38 EDTJPM, HSBCOn The Fly: Midday Wrap
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10:19 EDTJPMJPMorgan pays $1.01B to settle FX charges, says litigations ongoing
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10:14 EDTJPMOCC fines Bank of America, Citigroup, JPMorgan $950M over FX trading
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10:00 EDTJPMOn The Fly: Analyst Downgrade Summary
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09:36 EDTJPMInformation Management Network to hold a symposium
Private Label RMBS Reform Symposium is being held in New York on November 12.
08:57 EDTJPM, HSBCBarclays excluded from forex settlement due to issues with NYDFS, Reuters says
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08:13 EDTJPMBoston Biotech to hold a conference
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07:28 EDTJPMBofA/Merrill to hold a conference
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07:02 EDTJPMJPMorgan makes changes in response to foreign exchange probe, Reuters says
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06:12 EDTHSBC, JPMCFTC fines five banks $1.4B for manipulation of FX benchmark rates
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06:05 EDTJPM, HSBCFCA fines five banks $1.7B over FX trading operations
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06:04 EDTJPMJPMorgan downgraded to Market Perform from Outperform at Bernstein
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November 11, 2014
14:30 EDTJPM, HSBCBanks to be hit with billions in fines for currency manipulation, Telegraph says
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10:00 EDTJPMOn The Fly: Analyst Downgrade Summary
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06:39 EDTJPMJPMorgan downgraded on valuation at Keefe Bruyette
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05:47 EDTJPMJPMorgan downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette downgraded JPMorgan to Market Perform with a $64 price target.
November 10, 2014
15:17 EDTJPMCFPB may require added disclosures on prepaid cards, WSJ says
The Consumer Financial Protection Bureau is expected to propose new rules later this week that will require more disclosure for prepaid debit cards and cracking down on allowing consumers to spend more money on the cards than they have, according to The Wall Street Journal, citing people familiar with the matter. The rules come as traditional financial institutions, such as JPMorgan (JPM) and American Express (AXP) have moved into the business and the industryís biggest players donít allow overdrafts so it is unclear whether the new rules will dent industry profits, the report said. Green Dot (GDOT) also does not permit overdrafts and Visa (V) recently excluded overdraft abilities in guidelines for its prepaid cards, the report added. Reference Link
06:46 EDTJPM, HSBCRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:18 EDTJPM, HSBCUBS to settle misconduct allegations at precious metals trading unit, FT reports
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