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Stock Market & Financial Investment News

News Breaks
March 31, 2014
06:25 EDTRBS, JPM, BCS, CS, JBAXY, C, UBSSwiss regulator probing banks on possible forex manipulation, WSJ reports
Weko, Switzerland's competition commission, has opened a probe into possible manipulation of foreign exchange rates among banks, including UBS (UBS) and Credit Suisse (CS), the Wall Street Journal reports. Other banks being probed include JPMorgan (JPM), Julius Baer (JBAXY), Barclays (BCS), Citigroup (C) and Royal Bank of Scotland (RBS). Reference Link
News For UBS;CS;JPM;C;BCS;RBS;JBAXY From The Last 14 Days
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January 15, 2015
11:34 EDTCCiti sees Citi Holdings staying 'at or above' breakeven in FY15
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11:32 EDTCCiti sees FY15 revenue growth for Citicorp in low to mid single digit percentage
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11:30 EDTCCiti sees 1H15 NIM to be 'more or less flat' to FY14 levels
Comment from Q4 earnings conference call.
11:23 EDTUBSSEC charges UBS unit with disclosure violations in operating dark pool
The Securities and Exchange Commission has charged a subsidiary of UBS with disclosure failures and other securities law violations related to the operation and marketing of its dark pool. UBS Securities LLC agreed to settle the charges by paying more than $14.4M, including a $12M penalty that is the SECís largest against an alternative trading system. An SEC examination and investigation of UBS revealed that the firm failed to properly disclose to all subscribers the existence of an order type that it pitched almost exclusively to market makers and high-frequency trading firms. Furthermore, the SEC investigation found that UBS similarly failed to disclose to all subscribers a ďnatural-only crossing restrictionĒ developed to ensure that select orders would not execute against orders placed by market makers and high-frequency trading firms. UBS consented to the SECís order without admitting or denying the findings. The order censures the firm and requires payment of $2,240,702.50 in disgorgement, $235,686.14 in prejudgment interest, and the $12M penalty.
10:41 EDTRBSRBS general counsel, others leave bank, NY Times reports
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10:19 EDTCCiti says committed to 2015 targets, returning capital to shareholders
Citi says active sales processes ongoing for consumer operations marked for exit. Will continue to serve institutional clients in these countries, but operations will be reported as part of Citi Holdings as of 1Q15. Citi says active processes underway to exit certain non-core institutional businesses in a "timely and economically rational manner." Says roughly half of those non-core institutional businesses operationsí pre-tax loss in 2014 was directly related to repositioning and other actions associated with the exits. Citi is targeting a 2015 consumer banking efficiency ratio of 49%-52%, compared to a ratio of 56% in 2014 and a pro forma 2014 ratio of 55%. Citi is targeting a 2015 institutional clients group efficiency ratio of 43%-57%, compared to a ratio of 59% in 2014 and a pro forma 2014 ratio of 58%. Citigroup reports a Q4 net interest margin of 2.92%, up from 2.91% in Q3 and from 2.88% in 4Q13. Citi sees positioning for increased return of capital over time in 2015. Comments from slides for Q4 earnings conference call.
09:36 EDTCActive equity options trading
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09:15 EDTCOn The Fly: Pre-market Movers
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08:08 EDTCCiti reports Q4 net interest margin 2.92%
08:07 EDTCCitigroup reports Citi Holdings assets down 16% to $98B
Citigroup reports Q4 Citi Holdings revenues of $1.3B, which included CVA/DVA of negative $5M, compared to $1M in the prior year period. Excluding CVA/DVA, Citi Holdings revenues increased slightly from the prior year period driven by higher gains on asset sales and lower cost of funds. As of the end of the quarter, Citi Holdings assets were $98B, 16% below the prior year period, and represented approximately 5% of total Citigroup assets. Citi Holdings allowance for credit losses was $4.5B at the end of Q4, or 6.20% of loans, compared to $6.5B, or 6.98% of loans, in the prior year period. 90+ days delinquent consumer loans in Citi Holdings decreased 28% to $2.0B, or 2.88% of loans.
08:05 EDTCCiti CEO says overall 2014 results fell short of expectations
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08:03 EDTCCiti reports Q4 net credit losses down 12% from prior year to $2.2B
Citi reports Q4 legal and related expenses and repositioning charges totaled $3.5B in the current quarter, compared to $1.0B in the prior year period. Citigroupís cost of credit in Q4 was $2.0B, a decrease of 3% from the prior year period, primarily reflecting a $299M improvement in net credit losses, partially offset by a lower net release of loan loss reserves. Reports Q4 loan loss reserve release of $441M. Reports Q4 provision for benefits and claims $206M. Citigroupís book value per share was $66.16 and its tangible book value per share was $56.83, each as of quarter end, representing 1% and 3% increases, respectively, versus the prior year period. At quarter end, Citigroupís Basel III Common Equity Tier 1 Capital ratio was 10.5%, up from 10.1% in the prior year period. Citigroupís estimated Basel III Supplementary Leverage ratio for the fourth quarter 2014 was 6.0%, up from 5.4% in the prior year period.
08:00 EDTCCiti reports Q4 EPS 6c, consensus 11c
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07:49 EDTJPMJPMorgan valuation attractive, says Argus
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07:17 EDTUBSUBS volatility at 28 into Swiss ends exchange-rate-cap
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07:14 EDTCSCredit Suisse volatility elevated as shares trade at two-year low
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06:58 EDTCSCredit Suisse to ask regulators to continue managing pensions, Reuters says
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06:42 EDTBCS, CS, UBS, RBSECB most likely will unveil bond buying program, NY Times says
The European Central Bank is "all but certain" to announce at its next meeting that it will buy government bonds, according to The New York Times. But the ECB may announce that it will buy bonds but say that it will only provide details about the program in March, some believe, the newspaper reported. Some economists contend that the initiative could be a case of "too little, too late," The Times added. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:25 EDTJPM, CJPMorgan, Citi fire or suspend Forex employees after Justice Dept probe, WSJ say
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06:21 EDTJPMJPMorgan reports December credit losses 2.56% vs. 2.61% last month
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