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Stock Market & Financial Investment News

News For LYG;ING;RY;BCS;CS;RBS;UBS;DB;BBVA;AEG;SAN From The Last 14 Days
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October 31, 2014
10:29 EDTBCS, LYG, RBSBOE sets U.K. bank leverage ratio at 4.05%
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10:21 EDTUBSCourt says UBS can't force Nasdaq to arbitrate on Facebook IPO, Reuters reports
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08:18 EDTRYLawyers look to bump RBC payout over Rural/Metro case to over $100M, WSJ says
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06:47 EDTRBSRBS took GBP 400M charge for foreign exchange investigations
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06:44 EDTDB, UBS, RBSLarge banks prepare for forex investigation payments, WSJ says
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05:59 EDTRBSRoyal Bank of Scotland confirms it will retain Ulster Bank
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05:59 EDTRBSRoyal Bank of Scotland CEO says 'long list of conduct and litigation issues'
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05:58 EDTRBSRoyal Bank of Scotland says cost reductions remain on track
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05:56 EDTRBSRoyal Bank of Scotland reports Q3 profit GBP 896M vs. GBP (828M) last year
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October 30, 2014
08:30 EDTBCSBarclays accused in suit of bribing Saudi royalty, NY Post reports
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05:38 EDTBCSBarclays reports Q3 adjusted profit GBP 1.59B vs. GBP 1.39B last year
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October 29, 2014
09:19 EDTDBOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Goodyear Tire (GT), up 10%... Electronic Arts (EA), up 3.7%... ZELTIQ (ZLTQ), up 9%... Eaton (ETN), up 2.3%... Anadarko (APC), up 2%... U.S. Steel (X), up 7.7%... IAC (IACI), up 3.6%. ALSO HIGHER: Fiat Chrysler (FCAU), up 12% after reporting quarterly results, announcing plan to spin off Ferrari... Cara Therapeutics (CARA), up 17.8% after HAL trial of IV formulation of CR845 met primary endpoint... Jamba (JMBA), up 4% after upgraded at Wedbush. DOWN AFTER EARNINGS: Facebook (FB), down 5.7%... Gilead (GILD), down 3.2%... Ralph Lauren (RL), down 2.3%... SodaStream (SODA), down 3%... Garmin (GRMN), down 5%... Applied Micro Circuits (AMCC), down 9.9%... STMicroelectronics (STM), down 10%... Ballard Power (BLDP), down 8.7%... Hershey (HSY), down 3.3%... Deutsche Bank (DB), down 2.3%... McKesson (MCK), down 2%. ALSO LOWER: Sanofi (SNY), down 5.7% after downgraded at various firms including Barclays and BofA/Merrill after the company's board removed Christopher Viehbacher as CEO... InvenSense (INVN), down 22%, downgraded at Pacific Crest, Northland and Piper Jaffray following the company's Q2 earnings results... CareTrust REIT (CTRE), down 3.6% after acquiring Cross Healthcare Seniors housing portfolio... Orbital (ORB), down 16% after Orb-3 launch mishap... American Realty (ARCP), down 22% after announcing resignations of CFO, CAO.
07:44 EDTBBVASunEdison, CorpBanca and Banco Bilbao close $130M solar plant project in Chile
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06:58 EDTRYRBC pulls out Alibaba IPO after accidental employee remark, Reuters says
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06:39 EDTCS, RBS, LYG, ING, DB, BCS, SAN, UBSECB says loan demand expected to rise, Reuters reports
Demand for loans from euro zone banks is expected to rise sharply this quarter, the European Central Bank stated in a report, according to Reuters. Meanwhile, the bloc's banks are expected to ease credit standards in Q4, after credit standards in France and Germany eased in Q3, the news service quoted the ECB as saying. 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), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
06:12 EDTDBDeutsche Bank confirms Marcus Schenck as deputy CFO
The Supervisory Board of Deutsche Bank announced that it has realigned individual responsibilities on the Management Board in line with the Bank's ongoing strategic, regulatory and litigation priorities. As a consequence, the Supervisory Board has appointed two new members to the Management Board. Stefan Krause, CFO since 2008, will take a new position as Head of Strategy and Organizational Development, effective November 1, which will combine responsibility for strategic development and all major change initiatives at the Bank. Krause will continue as CFO until the conclusion of the Annual General Meeting on May 21, 2015. Dr. Marcus Schenck, who will join the Bank from Goldman Sachs (GS) as General Manager and Deputy CFO, will be appointed to the Management Board, effective on conclusion of the Annual General Meeting on May 21, 2015, at which time he will succeed Krause as CFO. Henry Ritchotte will continue as COO with responsibility for Technology and Operations, and will in addition assume responsibility for the Bank’s global digital agenda.
06:06 EDTLYGLloyds Banking looks to resume dividend payouts in 2015, Daily Mail reports
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05:55 EDTDBDeutsche Bank says in talks with authorities over LIBOR
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05:49 EDTDBDeutsche Bank reports Q3 net income EUR (94M) vs. EUR 51M last year
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October 28, 2014
18:26 EDTDBDeutsche Bank names Marcus Schenck as deputy CFO, Bloomberg says
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13:00 EDTDBReport says Deutsche Bank to name Schenck to succeed CFO Krause, Reuters says
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07:43 EDTDBDeutsche among banks impacted by minor ECB test result errors, WSJ says
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06:04 EDTBCSBarclays provides strategic update, plans to cut 9,000 jobs
Barclays said, "We will commence a second phase of Simplification and cost efficiency to achieve run-rate savings of £1 billion per annum by the end of 2017, creating value for customers and improving our long-term competitiveness. In order to achieve these savings, we will invest around £1.6 billion over three years on initiatives to simplify processes and increase automation. In particular, we will digitise our key customer journeys to improve customer service and increase the efficiency of end-to-end processing...Within the organisation, we will rebalance roles to reflect the evolving nature of the business and ensure we have the people and capabilities required for the transition to a more digitised, IT enabled business. We anticipate a reduction of approximately 9,000 full time roles across the business while building new capability in digital and IT. We will also further rationalize our legal entities, including our life companies." Barclays issued new medium-term targets for efficiency, risk and returns: Cost:income ratio to exit 2017 at around 45%; Simplification run-rate savings of GBP 1B per annum by the end of 2017; Asset quality ratio of around 40 basis points through the economic cycle, and lower than this over the next three years; Sustainable returns on required equity of around 13.5%-15% by the end of the strategic plan period and through the economic cycle.
05:56 EDTLYGLloyds Banking sees 9,000 job reductions by end of 2017
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05:52 EDTLYGLloyds Banking sees 2014 asset quality ratio around 30 basis points
Lloyds Banking said its 2014 full year asset quality ratio is now expected to be around 30 basis points; guidance previously was for around 35 basis points for the full year. Other guidance reconfirmed: 2014 full year net interest margin expected to be around 2.45%, run-off assets expected to be less than GBP 20B by the end of 2014, and full year statutory profit to be significantly ahead of first half.
05:51 EDTLYGLloyds reports Q3 underlying profit GBP 2.16B vs. GBP 1.52B last year
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05:31 EDTUBSUBS says no agreemment reached with DOJ over foreign exchange
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05:27 EDTUBSUBS says underlying challenges remain in Q4
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05:26 EDTUBSUBS reports Q3 net profit CHF 762M vs. CHF 577M last year
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October 27, 2014
13:13 EDTLYG, BCS, RBSU.K. banks to raise PPI compensation provisions, Sky News reports
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10:00 EDTLYGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abraxas Petroleum (AXAS) downgraded to Hold from Buy at Stifel... Anadarko (APC) downgraded to Neutral from Buy at Goldman... Basic Energy (BAS) downgraded to Sell from Buy at Goldman... Cabot Oil & Gas (COG) downgraded to Sector Perform from Outperform at Howard Weil... Coca-Cola (KO) downgraded to Neutral from Buy at Buckingham... CommScope (COMM) downgraded at BofA/Merrill... Concho Resources (CXO) downgraded to Hold from Buy at Stifel... Consolidated Communications (CNSL) downgraded to Market Perform at Raymond James... Continental Resources (CLR) downgraded to Neutral from Buy at Goldman... Covanta (CVA) assumed with a Neutral from Outperform at Macquarie... DCP Midstream (DPM) downgraded to Neutral from Buy at Goldman... Denbury Resources (DNR) downgraded to Hold from Buy at Stifel... Diamond Offshore (DO) downgraded to Sell from Neutral at Goldman... Diana Shipping (DSX) downgraded to Hold from Buy at Deutsche Bank... EP Energy (EPE) downgraded to Neutral from Buy at Goldman... EZchip (EZCH) downgraded to Neutral from Buy at Chardan... Emerge Energy (EMES) downgraded to Neutral from Buy at Goldman... Encore Wire (WIRE) downgraded to Neutral from Buy at DA Davidson... Enduro Royalty Trust (NDRO) downgraded to Neutral from Buy at Goldman... First Niagara (FNFG) downgraded to Sector Perform from Outperform at RBC Capital... GOL Linhas (GOL) downgraded to Neutral from Buy at BofA/Merrill... Goodrich Petroleum (GDP) downgraded to Hold from Buy at Stifel... Halliburton (HAL) downgraded to Buy from Conviction Buy at Goldman... Home Loan Servicing (HLSS) downgraded to Neutral from Buy at Citigroup... ICON plc (ICLR) downgraded to Equal Weight from Overweight at Barclays... IHS Inc. (IHS) downgraded to Equal Weight from Overweight at Barclays... Jones Energy (JONE) downgraded to Hold from Buy at Stifel... Laredo Petroleum (LPI) downgraded to Sell from Neutral at Goldman... Lloyds Banking (LYG) downgraded to Underperform from Hold at Jefferies... Midcoast Energy (MEP) downgraded to Neutral from Buy at Goldman... PDC Energy (PDCE) downgraded to Hold from Buy at Stifel... PNC Financial (PNC) downgraded at Sterne Agee... Parsley Energy (PE) downgraded to Sell from Neutral at Goldman... Patterson-UTI (PTEN) downgraded to Neutral from Conviction Buy at Goldman... Pioneer Energy (PES) downgraded to Neutral from Buy at Goldman... Precision Castparts (PCP) downgraded at RBC Capital... Royal Gold (RGLD) downgraded to Neutral from Overweight at HSBC... SM Energy (SM) downgraded to Hold from Buy at Stifel... Sanchez Energy (SN) downgraded to Hold from Buy at Stifel... Scorpio Bulkers (SALT) downgraded to Hold from Buy at Deutsche Bank... Synergy Resources (SYRG) downgraded to Hold from Buy at Stifel... Ventas (VTR) downgraded to Neutral from Buy at UBS... Whiting Petroleum (WLL) downgraded to Hold from Buy at Stifel... Zumiez (ZUMZ) downgraded to Neutral from Buy at DA Davidson.
07:43 EDTLYGLloyds narrow passing grade puts divididend restart in question, Reuters says
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07:30 EDTCS, BCSInternational Economic Forum of the Americas to hold a forum
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06:07 EDTRBSRBS expected to announce commitment to Ulster Bank, Telegraph reports
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05:23 EDTLYGLloyds Banking downgraded to Underperform from Hold at Jefferies
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October 26, 2014
17:32 EDTSAN, BCS, LYG, CS, UBS, DB, ING, RBSEuropean banks may gain after ECB stress tests, Bloomberg says
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13:27 EDTRBS, SAN, DB, BCS, LYG, CS, UBS, INGECB releases results of bank stress test
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October 24, 2014
12:52 EDTDBDeutsche Bank expects Q3 litigation costs of EUR 894M
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09:54 EDTDBDeutsche Bank braces for $1.3B in UK and UK Libor-related fines, Reuters says
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09:54 EDTDBDeutsche Bank sails through stress test enacted by ECB, Reuters says
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08:44 EDTDB, BCS, CS, SAN, RBS, ING, UBS, LYGECB draft shows 25 EU banks set to fail stress test, Bloomberg says
Bloomberg cites a draft ECB document the news service has viewed. Publicly traded 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).
October 23, 2014
07:46 EDTDBSunEdison closes financing to build 26 MW utility solar power plant
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06:43 EDTCSCredit Suisse head detects no tangible worries in forex probe, Reuters says
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05:44 EDTCSCredit Suisse says 'mixed start to October'
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05:44 EDTCSCredit Suisse reports Q3 net income CHF 1.03B vs. CHF 454M last year
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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 EDTBCS, DB, CS, ING, UBS, LYG, SAN, RBSBasel 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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