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Stock Market & Financial Investment News

News Breaks
March 4, 2013
06:19 EDTRBS, BNPQYIdeal Stelrad weighing strategic options, may consider sale, Telegraph reports
Radiator firm Ideal Stelrad, whose owners include Royal Bank of Scotland (RBS) and BNP Paribas (BNPQY), is weighing strategic options, sources tell the Telegraph. If a strategic review does go forward, the business could be sold this year, possibly for GBP200M-GBP300M. Reference Link
News For RBS;BNPQY From The Last 14 Days
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July 21, 2014
11:34 EDTBNPQYBNP suit prompts calls for whistleblower rewards in banking, Reuters says
BNP Paribas' $9B settlement with U.S. authorities, assisted by internal whistleblowers, has prompted calls for federal banking regulators to defend and offer incentives to individuals who report wrongdoing by banks, according to Reuters, citing comments from architect of the Securities and Exchange Commission's whistleblower representation program Jordan Thomas. Reference Link
July 18, 2014
11:21 EDTRBSBritish antitrust regulator to investigate country's banks, NY Times reports
The U.K.'s antitrust authorities said they expected to open a formal investigation into Britain's retail banking industry, reports the New York Times. The regulators cited barriers to competition that include control of a national network of branches by four large banks that control more than three-quarters of the market. Reference Link
06:31 EDTRBSRBS winds-down distressed-debt unit as Weiss leaves, Bloomberg says
Royal Bank of Scotland is capping a distressed-debt division as it scales back its investment firm to revive profitability, according to Bloomberg citing three people familiar with the matter. The sources said that global head of a special situations group, Jon Weiss, departed this month. Reference Link
06:20 EDTRBSRBS considers selling Coutts' overseas operations, FT reports
Royal Bank of Scotland is eyeing the sale of Coutts' overseas operations, the Financial Times reports. The bank is currently conducting a review of its wealth management division. Reference Link
July 11, 2014
06:48 EDTRBSBank of England says banks' capital requirement could rise, Reuters reports
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July 10, 2014
07:08 EDTRBSECB keeps tight grip on banks with health check results, Reuters says
The European Central Bank is targeting to keep a tight grip banks in the final phase of a balance sheet health check in October, giving them only 48 hours to review the test results before publishing them, according to Reuters, citing two people familiar with the matter. The assessment will look into banks’ balance sheets and measure their ability to handle shock and stress. Publicly traded European 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).
06:24 EDTBNPQYBNP enters guilty plea in U.S. to overstepping sanctions, Reuters says
BNP Paribas entered a guilty in Manhattan federal court to overstepping U.S. sanctions after agreeing to pay $8.97B to resolve state and federal investigations that reached the highest echelons of French and American diplomacy, according to Reuters, citing comments from Assistant U.S. Attorney Andrew Goldstein. The bank's sentencing date is set for October 3. Reference Link
July 9, 2014
10:02 EDTBNPQYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Neutral from Buy at Dougherty... Apollo Global (APO) downgraded to Neutral from Buy at Citigroup... Artisan Partners (APAM) downgraded to Neutral from Buy at Citigroup... Autoliv (ALV) downgraded to Hold from Buy at Nordea... BNP Paribas (BNPQY) downgraded to Neutral from Overweight at JPMorgan... BP (BP) downgraded to Hold from Buy at Deutsche Bank... Carlyle Group (CG) downgraded to Neutral from Buy at Citigroup... Coach (COH) downgraded at Buckingham... Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman... Garmin (GRMN) downgraded to Underperform from Sector Perform at Pacific Crest... Gigamon (GIMO) downgraded to Buy from Strong Buy at Needham... International Paper (IP) downgraded at RBC Capital... Louisiana-Pacific (LPX) downgraded at RBC Capital... Marvell (MRVL) downgraded to Underperform from Perform at Oppenheimer... McGraw Hill Financial (MHFI) downgraded to Market Perform at Raymond James... Moody's (MCO) downgraded to Market Perform from Outperform at Raymond James... Plum Creek Timber (PCL) downgraded at RBC Capital... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... RGS Energy (RGSE) downgraded at Cowen... Taminco (TAM) downgraded to Neutral from Buy at Citigroup... Total (TOT) downgraded to Hold from Buy at Societe Generale... Unilever (UN) downgraded to Reduce from Neutral at Nomura... VMware (VMW) downgraded to Market Perform from Outperform at Wells Fargo... Vectren (VVC) downgraded to Hold from Buy at KeyBanc.
05:49 EDTBNPQYBNP Paribas downgraded to Neutral from Overweight at JPMorgan
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