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Stock Market & Financial Investment News

News Breaks
February 15, 2013
08:15 EDTMHP, MFGS&P may benefit from blame game, WSJ reports
The Delphinus CDO 2007-1 got a triple-A rating and then defaulted within months, hurting investors. The SEC last year blamed Mizuho Financial Group (MFG) and it paid $127.5M to settle the SEC's lawsuit. Now, the Justice Department sees it differently, reports the Wall Street Journal. The Delphinus deal was one of more than 30 CDOs included in the federal government's lawsuit against Standard & Poor's Ratings Services (MHP) last week. Federal prosecutors say that S&P disregarded its own standards when rating Delphinus and the other CDOs, misled investors and should cover losses suffered by federally insured banks and credit unions that bought the securities, which included bundles of subprime mortgages, the Journal says. The discrepancy could give S&P a way to counterattack the Justice Department as the two sides prepare for a battle.Reference Link
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September 12, 2014
06:25 EDTMFGCiti Diners Club attracts attention of banks in Japan, Bloomberg says
Citigroup's (C)ís Diners Club card is among some of the firm's resources in Japan that is attracting attention from lenders as the company looks for offers for its retail division in the country, according to Bloomberg, citing people with knowledge of the matter. The sources said that Sumitomo Mitsui (SMFG), Mizuho Financial Group (MFG), Mitsubishi UFJ (MTU), Sumitomo Mitsui Trust and Shinsei Bank are some of the banks that are poised to propose preliminary offers. Reference Link

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