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Stock Market & Financial Investment News

News Breaks
March 18, 2013
07:42 EDTACGL, XL, UNM, AAWW, LNC, DB, TW, BK, BCSBarclays to host a forum
Barclays Select Series 2013: Insurance Forum is being held in New York on March 18.
News For LNC;XL;BK;AAWW;ACGL;TW;UNM;BCS;DB From The Last 14 Days
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March 2, 2015
09:51 EDTDBDeutsche Bank co-CEO confirmed to stand trial, Reuters says
A Munich court has officially confirmed that Deutsche Bank co-CEO Juergen Fitschen and four former executives will be taken to trial in connection with the Leo Kirch case, reports Reuters, citing spokesperson statements. Reference Link
06:32 EDTBCS, DBLarge EU banks may come under scrutiny for reciprocity, WSJ says
The banking practice of reciprocity -- giving work to competitor banks in order to foster relationships or reward past deals -- may come under investigation by the U.K. Financial Conduct Authority, reports the Wall Street Journal, citing a person familiar with the regulator. The FCA believes the practice may be anticompetitive, but it hasn't yet determined the scope of its investigation into EU banks. Publicly traded companies in the space include 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
February 27, 2015
08:29 EDTDBJPMorgan, Deutsche Bank pause plans for $2B Argentina bond sale, WSJ says
Deutsche Bank (DB) and JP Morgan (JPM) have suspended plans to sell $2B of Argentinian bonds after a U.S. district judge ordered an emergency hearing on the potential sale, reports the Wall Street Journal, citing people familiar with the matter. The sources said the banks believed they had found a way to sell the bonds without being blocked by a prior U.S. court ruling.Reference Link
06:18 EDTBCS, DBBarclays likely to delay forex settlement, FT says
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February 26, 2015
14:01 EDTBCSBarclays to double provision for forex rigging fines, Sky News says
Barclays (BCS), which previously excluded itself from a broader settlement between several banking peers and regulators over alleged manipulation of foreign exchange rates as it worked to secure a binding agreement with all relevant authorities, will more than double its existing provision for forex fines next week, which may indicate that a settlement deal could be announced soon, said Sky News. Barclay took a GBP500M charge during the course of last year in advance of expected forex issue costs, the report noted. Other banks that previously agreed to a settlement included Bank of America (BAC), Citibank (C), HSBC (HSBC), JPMorgan Chase (JPM), RBS (RBS) and UBS (UBS). The report indicates that U.S. regulators have stepped up talks with banks including Barclays and the others involved. Reference Link
12:48 EDTDBDeutsche Bank co-CEO to stand trial in Germany, Reuters says
Deutsche Bank co-CEO Juergen Fitschen and four former Deutsche board members are set to stand trial in Munich on suspicions of giving misleading evidence during the Leo Kirch trial, reports Reuters, citing Der Spiegel magazine. Reference Link
10:00 EDTDBOn The Fly: Analyst Initiation Summary
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05:32 EDTDBDeutsche Bank initiated with an Underperform at Exane BNP Paribas
February 25, 2015
13:34 EDTDBDeutsche Bank hires JPMorgan senior banker Jeff Urwin
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07:23 EDTXLXL Group management to meet with UBS
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February 24, 2015
17:47 EDTBKBNY Mellon said to be in FX settlement talks with U.S. DOJ, NY AG, Reuters says
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17:27 EDTBKBNY Mellon said to be in FX settlement talks with U.S. DOJ, NY AG, Reuters says
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16:34 EDTTWTowers Watson to delist from NYSE, single list with Nasdaq
Towers Watson announced that it has chosen to voluntarily delist its common stock listed on the New York Stock Exchange. This is expected to occur at the close of trading on March 12. Towers Watson will continue its listing with the NASDAQ Stock Market, with trading as a single-listed company expected to begin on the next business day, March 13. Towers Watson’s common stock is already listed on NASDAQ, and will continue to trade under the current ticker symbol “TW.” This action will also reduce administrative costs related to maintaining a dual exchange listing, the company said.
13:07 EDTBCS, DBEU official: Euro banks shouldn't also go through Fed's stress test, WSJ says
Jonathan Hill, the European Union’s new financial markets chief, told The Wall Street Journal that he does not see a need for the U.S. to give stress tests to European banks that have already received health checks in Europe. Hill says banks across Europe are "properly and sensibly capitalized." The WSJ reported last week that the U.S. units of two European banks, Deutsche Bank (DB) and Banco Santander (SAN), are set to fail the Federal Reserve's stress tests, though they passed ECB stress tests last year. Reference Link
06:36 EDTDBHP obtains ten year outsourcing deal from Deutsche Bank, Reuters reports
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06:15 EDTBCS, DBBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
February 22, 2015
15:40 EDTDBU.S units of Deutsche Bank, Santander seen failing stress tests, WSJ says
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February 20, 2015
08:02 EDTLNCEntercom gets request for added info from DOJ on Lincoln deal
Entercom (ETM) disclosed in a regulatory filing last night that the company received a request for additional information and documentary material, often referred to as a “second request,” from the Department of Justice in connection with the company’s previously announced agreement with Lincoln National Life (LNC) to acquire all of the outstanding shares of capital stock of Lincoln Financial Media Company from Lincoln. The second request was issued under the HSR Act. Consummation of the transaction is conditioned on expiration of the waiting period applicable under the HSR Act. Issuance of the second request extends the waiting period under the HSR Act until 30 days after both parties to the stock purchase agreement have substantially complied with the second request, unless the waiting period is terminated earlier by the DOJ or the parties voluntarily extend the time for closing. The second request, however, may delay the consummation of the transaction beyond the second quarter of 2015, as originally disclosed by the company, Entercom said.
February 19, 2015
14:21 EDTDB, BCSS&P reportedly says Greece contagion not a major risk, Reuters reports
The risk of contagion spreading from Greece to other European countries is not that large, a German newspaper quoted S&P's chief sovereign ratings officer as saying, according to Reuters. The euro zone would be able to handle an exit of the bloc by Greece, the ratings officer was quoted as saying, Reuters reported. Publicly traded European banks include 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
06:04 EDTDB, BCSFCA to investigate investment and corporate banking
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