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Stock Market & Financial Investment News

News Breaks
February 7, 2013
08:04 EDTRBS, BCS, UBSBanks 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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April 15, 2014
07:25 EDTRBSFederal Reserve Bank of Atlanta to hold a conference
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07:11 EDTBCSBarclays still deciding what to do with investment bank, WSJ reports
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06:58 EDTBCSBarclays appoints Gillies as non-executive director
Barclays announced that Crawford Gillies has been appointed as a non-executive director of Barclays and will become a member of the board remuneration committee with effect from May 1. The company said, "It is intended that Crawford Gillies will succeed Sir John Sunderland as chairman of the board remuneration committee at a date to be agreed, consistent with ensuring a smooth transition."
April 9, 2014
13:19 EDTRBSEU regulators say RBS can cancel U.K.'s dividend share, Reuters says
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07:23 EDTBCSBarclays relocates more suburban Singapore staff to city, Bloomberg says
Barclays is relocating more employees to an office in Singapore’s central business district from the suburbs to reduce expenses, according to Bloomberg, citing people familiar with the matter. Reference Link
April 7, 2014
13:43 EDTBCSBarclays reaches settlement with U.K. care home operator, Reuters says
Barclays reached a settlement with U.K. care home operator, Guardian Care Homes, that accused it of mis-selling products connected to benchmark interest rates just weeks prior to the beginning of a possibly embarrassing court case for the company, according to Reuters, citing a Barclays spokesman. Reference Link
13:08 EDTUBSPanel rules UBS unit to pay $5.4M to ex-broker, Reuters says
A Financial Industry Regulation Authority arbitration panel ruled that a unit of UBS has to pay $5.4M to an ex-broker to settle a dispute which stemmed from the sale of Lehman structured notes to his clients, reported Reuters. Reference Link
06:58 EDTUBSDark markets could cause more harm than high-frequency trading, Reuters says
After a book by financial author Michael Lewis sparked worries that high-speed traders have been rigging the U.S. stock market, former regulators and academics say a more serious threat to investors could be the increasing amount of trading that happens outside of exchanges, reported Reuters. Top internalizers include units of KCG Holdings (KCG), Citadel, UBS (UBS), and Citigroup (C). Dark pool operators include Credit Suisse (CS) and Morgan Stanley (MS). In an attempt to earn back some of the retail orders, exchanges such as IntercontinentalExchange Group's (ICE) New York Stock Exchange, Nasdaq (NDAQ), and BATS Global Markets, have allowed brokerages to place dark pool-style orders on their platforms, with the trade hidden until after it is executed. Reference Link
April 4, 2014
07:30 EDTUBSUBS battles proposal to move Puerto Rico bond fund cases, Reuters says
A unit of UBS is fighting a plan that would allow hundreds of investors who lost money in closed-end Puerto Rico bond funds to arbitrate their claims against the firm on the U.S. mainland, according to Reuters, citing people familiar with the matter. Reference Link
06:26 EDTRBSRoyal Bank of Scotland names Ewen Stevenson as CFO
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April 3, 2014
06:39 EDTRBSRBS to close 44 branches, Reuters says
Royal Bank of Scotland is planning to close 44 branches, of which 14 are classed as "Last Banks in Town", throughout the U.K. and Scotland, according to Reuters, citing comments from a company spokesperson. Reference Link

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