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Stock Market & Financial Investment News

News Breaks
July 26, 2012
06:21 EDTLYG, BCSLloyds gets Libor subpoenas, Reuters reports
Lloyds Banking Group (LYG) received subpoenas from government agencies investigating the Libor global interest rate rigging scandal but said it hasn't set aside any funds to cover a potential fine, reports Reuters. Reference Link
News For LYG;BCS From The Last 14 Days
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December 18, 2014
07:45 EDTBCSBarclays says more funds to be put aside to settle forex claims, Sky reports
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06:38 EDTLYGU.K. says to reduce stake in Lloyds Banking, NY Times reports
The British government said it would cut its stake in U.K. bank Lloyds Banking (LYG) by gradually selling shares over the next six months, according to The New York Times. The government could begin selling shares soon, although the process may not kick off until 2015, the newspaper stated. Reference Link
December 17, 2014
13:24 EDTLYGMorgan Stanley gets GBP1 fee to sell stake in Lloyds, WSJ says
Morgan Stanley (MS) has landed a prestigious deal and will collect a fee of GBP1 or $1.57 to sell down a potentially large stake in Lloyds Banking Group (LYG), says the Wall Street Journal. Morgan Stanley has until June 30, 2015 to sell what may amount to GBP3B worth of stock, added the Wall Street Journal. Reference Link
09:50 EDTLYGUK Financial Investments announces intent to sell shares in Lloyds Banking
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December 16, 2014
07:58 EDTBCSBarclays volatility at upper end of 18-month range
Barclays overall option implied volatility of 29 compares to its 26-week average of 26 according to Track Data, suggesting large price movement.
06:56 EDTLYGRoyal Bank of Scotland, Lloyds fail stress test, NY Times says
The Royal Bank of Scotland (RBS) and Lloyds (LYG) failed a stress test performed by the Bank of England, according to The New York Times. The central bank found that Royal Bank and Lloyds would not have had enough capital to withstand a severe financial shock at the end of last year, the newspaper stated. However, Lloyds has raised enough capital this year to survive the stress test scenario, the newspaper quoted the Bank of England as saying. Reference Link
06:35 EDTBCS, LYGBank 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
December 11, 2014
13:40 EDTLYG, BCSEuro zone banks accepted $160B in low interest loans, NY Times says
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10:17 EDTBCSFINRA 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 EDTBCSNY investigating Deutsche Bank, Barclays currency trading, Reuters reports
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December 8, 2014
06:21 EDTBCSDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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