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Stock Market & Financial Investment News

News Breaks
February 7, 2013
08:04 EDTRBS, UBS, BCSBanks facing state, local losses tied to Libor, Bloomberg reports
The multistate investigation of alleged manipulation of interest rates threatens to leave banks liable for billions of dollars in estimated state and local losses even as they settle with national regulators, reports Bloomberg. The New York Attorney General Eric Schneiderman is involved in leading an investigation into claims that banks rigged global benchmarks for borrowing, adding to investigations by other authorities, including the U.S. Justice Department. States have joined forces as banks reach settlements to resolve liability tied to Libor, or the London interbank offered rate. Reference Link
News For RBS;UBS;BCS From The Last 14 Days
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September 24, 2014
14:30 EDTRBSRBS seeks to sell additional 25% stake of Citizens Financial, FT says
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10:18 EDTRBSGlaxoSmithKline set to name RBS' Philip Hampton as next chairman, Sky News says
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10:10 EDTRBSCitizens Financial IPO opens at $21.50, IPO priced at $21.50
Citizens Financial (CFG) is a U.S. subsidiary of Royal Bank of Scotland (RBS).
09:48 EDTRBSCitizens Financial IPO indicated to open $21.50
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09:33 EDTRBSCitizens Financial IPO indicated to open $21.25
Citizens Financial (CFG) priced 140M shares at $21.50. Morgan Stanley and Goldman acted as joint book running managers for the offering. Citizens Financial is a U.S. subsidiary of Royal Bank of Scotland (RBS).
05:45 EDTUBSMorgan Stanley downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded its rating on Morgan Stanley (MS) to Neutral saying shares look expensive and that it does not see the bank meeting its 10% return on equity target. JPMorgan sees better value in other investment banks, specifically UBS (UBS), and keeps a $34 price target for Morgan Stanley shares. The stock closed yesterday down 16c to $35.02.
September 23, 2014
15:34 EDTRBSRBS pressured to lower Citizens Financial IPO price range, FT says
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12:49 EDTBCSSEC says Barclays failed to maintain adequate internal compliance system
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08:14 EDTUBSCFA Society of Chicago to hold a meeting
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06:18 EDTBCSFCA fines Barclays GBP 37.75M for putting assets at risk
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06:02 EDTBCSBarclays CEO defends bank against dark pool allegations, CNBC reports
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September 22, 2014
13:39 EDTBCSFCA to fine Barclays GBP 38M over client assets, Sky News reports
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09:24 EDTUBSAppeals court upholds UBS must deposit EUR1.1B over tax charges, Reuters says
A French appeals court upheld a prior ruling and ordered UBS to deposit EUR1.1B as a guarantee for the fine the court believes the bank may need to pay if it is found guilty of assisting its wealthy French customers to avoid paying taxes, reported Reuters. Reference Link
09:04 EDTUBSFrench court rules UBS must deposit $1.4B, Bloomberg reports
07:23 EDTRBSReport says Julius Baer mulling RBS unit acquisition, Reuters says
A report from German newspaper Sonntagsblick noted that Julius Baer (JBAXY) CEO Boris Collardi said that the company is contemplating an acquisition agreement for Royal Bank of Scotland's (RBS) Coutts International, according to Reuters, citing comments from Collardi in the report. Collardi said that the Swiss company is not looking to get in a bidding battle for Coutts' overseas division. Reference Link
06:15 EDTRBSLloyds Banking could still leave Scotland, Daily Mail reports
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September 19, 2014
06:46 EDTRBSStarwood Property appoints Jeffrey DiModica President effective September 18
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September 18, 2014
07:52 EDTUBS, RBS, BCSUBS Chair says litigation bigger worry than stress test, Bloomberg reports
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06:39 EDTBCS, UBS, RBSEuropean banks take out EUR83B of loans from central bank, NY Times says
European banks agreed to take out EUR83B in low interest loans from the European Central Bank, as part of a program in which all of the funds must be loaned to businesses or individuals, or repaid to the central bank within two years, according to The New York Times. Several analysts had said that they would be disappointed if banks took out less than EUR100B in loans, but a number of analysts said that a second round of the program, due to occur in December after stress tests have been completed, may be more popular, the newspaper stated. 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). Reference Link
September 17, 2014
07:43 EDTBCSBarclays, NY AG spar over fraud allegations, Reuters reports
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