Foreign Money Center Banks
(UBS) Foreign Banks Stock Outlook – February 2013 – Zacks Analyst Interviews
In order to plan the path to future growth, banks all over the world are seeking new strategies to lessen the regulatory burden. Almost every bank has its focus on capital efficiency. And most of the foreign banks are adopting reconstruction-by-asset-sale strategies to strengthen their capital ratios. Self-protective...28Feb2013 | Shawn | Comments Off | Continued
(HBC) HSBC Holdings’ China Deal in Trouble
HSBC Holdings plc’s (HBC) divestiture of its entire stake (15.6%) in Chinese insurance giant Ping An Insurance (Group) Company of China, Ltd to Thailand-based Charoen Pokphand Group has come to an unexpected halt after China Development...15Jan2013 | Shawn | Comments Off | Continued
(RBS) The Royal Bank of Scotland Group Wins Lawsuit Dismissal
A lawsuit filed by South Korea-based Woori Bank against The Royal Bank of Scotland Group plc (RBS) was dismissed by a U.S. District judge in Manhattan. The lawsuit was related to Royal Bank’s sale of collateralized debt obligations...1Jan2013 | Shawn | Comments Off | Continued
(UBS) UBS AG Settles LIBOR Scam with $1.5 Billion
UBS AG (UBS) has finally conceded to paying a penalty of CHF 1.4 billion ($1.5 billion) to the U.S., U.K. and Swiss authorities to resolve charges against the bank for its involvement ...28Dec2012 | Shawn | Comments Off | Continued
(UBS) UBS AG to Resolve LIBOR Scam with $1 Billion?
UBS AG (UBS) is said to be nearing a deal to pay a penalty of over $1 billion over its alleged involvement in the manipulation of the London Interbank Offered Rate (LIBOR), according to a Wall Street Journal report. The announcement...19Dec2012 | Shawn | Comments Off | Continued
(BCS) Barclays to Exit Crop Trading Biz?
Barclays Plc. (BCS) is contemplating a retreat from trading in agriculture commodities, according to a Reuters report. The move comes as the company gears up for a strategic revamp of its overall business...4Dec2012 | vitalstocks | Comments Off | Continued
(UBS) UBS AG Contemplates 10,000 Layoffs
UBS AG (UBS) is likely to make 10,000 job cuts, according to a report in the Financial Times. The layoffs are part of the company’s efforts to reorganize its business and split its investment bank. The details are expected...28Nov2012 | vitalstocks | Comments Off | Continued
(DB) Deutsche Bank Posts Profit and Revenues Up
Aided by improved performance at its investment bank unit, Deutsche Bank AG’s (DB) net income attributable to its shareholders came in at €747 million ($935 million) in third quarter 2012, up 3% from €725 million in the prior-year...27Nov2012 | vitalstocks | Comments Off | Continued
(BCS) Foreign Banks Stock Outlook – November 2012 – Zacks Analyst Interviews
Just as banks worldwide are focusing more on capital efficiency, most foreign banks have been adopting reconstruction-by-asset-sale strategies to strengthen their capital ratios and lower leverage. Self-protective efforts have been significantly helping these banks to stay afloat, but at the cost...3Nov2012 | vitalstocks | Comments Off | Continued
(HBC) Fitch Affirms Ratings of 12 Global Trading and Universal Banks
Providing great relief to the financial sector, Fitch Ratings has reiterated the long and short term Issuer Default Rating (IDR) of 12 Global Trading and Universal Bank (GTUB) peer group (formed last October and includes 13 major securities trading and universal banks). Only the review of HSBC...18Oct2012 | vitalstocks | Comments Off | Continued
(HBC) New Quarter to Start on a Positive
The market may start the first trading session of the final quarter of the year on a positive note today. But sustaining the favorable open would depend on how the manufacturing ISM survey for September pans out. This key gauge of the nation’s manufacturing sector has been in contraction...9Oct2012 | vitalstocks | Comments Off | Continued
(RBS) Royal Bank of Scotland Group Prices Direct Line Offering
In an effort to attract investors, The Royal Bank of Scotland Group plc (RBS) has priced the initial public offering (IPO) of its insurance wing – Direct Line Group – at a discount. The shares are priced in the range of £1.60...9Oct2012 | vitalstocks | Comments Off | Continued
(DB) Fresh Claims Against Deutsche Bank
Troubles emanating from mortgage backed securities are far from over for Deutsche Bank AG (DB). A trustee for mortgage-bond investors has charged one of the units of Deutsche Bank for over $183 million in faulty loans underlying the...9Oct2012 | vitalstocks | Comments Off | Continued
(CS) Credit Suisse Group Sued Over Mortgage Backed Securities Sale
Credit Suisse Group (CS) seems to be in sticky waters with litigation issues arising from the sale of mortgage backed securities (MBS). The U.S. regulator for credit unions has sued its unit, Credit Suisse Securities (USA), for misrepresentation...5Oct2012 | vitalstocks | Comments Off | Continued
(UBS) UBS AG Sued Over Sale of Risky MBS
UBS AG (UBS) seems to be in sticky waters yet again with litigation issues arising from the sale of mortgage backed securities (MBS). This time, the U.S. regulator for credit unions has sued UBS for misrepresentation of documents while...8Sep2012 | vitalstocks | Comments Off | Continued
(DB) Deutsche Bank AG Confronts FHFA Ire
Deutsche Bank AG (DB) is facing the wrath of the Federal Housing Finance Agency (FHFA). Its unit, named DB Structured Products Inc., has been sued by FHFA over mortgage backed securities, according to a Bloomberg report. In a...8Sep2012 | vitalstocks | Comments Off | Continued
(RBS) The Royal Bank of Scotland Group Probed Over Iranian Dealings
The Royal Bank of Scotland Group plc (RBS) is the latest bank to be investigated by U.S. regulators over possible violations of restrictions imposed on Iran. The Federal Reserve and Department of Justice are the agencies involved. According...30Aug2012 | vitalstocks | Comments Off | Continued
(HBC) Standard & Poor’s Ratings Services Lowers HSBC’s Rating Outlook
On Thursday, Standard & Poor’s Ratings Services (S&P) downgraded its outlook on HSBC Holdings plc (HBC) and its other rated holding companies to ‘Negative’ from ‘Stable’. The downward revision was propelled...26Aug2012 | vitalstocks | Comments Off | Continued
(BCS) Barclays Sued for Selling Risky MBS
German-based Bayerische Landesbank (BayernLB) has sued Barclays PLC (BCS) over the losses that it incurred from investments in risky mortgage backed securities (MBS). BayernLB alleged that Barclays made false representations while...21Aug2012 | vitalstocks | Comments Off | Continued
(HBC) The Moody’s Downgrade: Hurt Some Banks – Helps Others
What’s the premise behind this whole downgrading business? “Hindsight is 20/20.” “Fool me once, shame on you. Fool me twice, shame on me.” We’ve all heard these adages before – and so has Moody’s. Let’s go back to the mid-2000s… There...9Aug2012 | InvestmentU | 0 comments | Continued
(MTU) Mitsubishi UFJ Financial – ADS – Bull of the Day
We are upgrading our recommendation on Mitsubishi UFJ Financial – ADS (MTU) to Outperform based on the company’s impressive earnings results for the fiscal year ended March 31, 2012. The company’s net income increased...16Jul2012 | vitalstocks | Comments Off | Continued
(BCS) Foreign Banks Stock Outlook – July 2012 – Industry Outlook
Foreign banks have been adopting reconstruction-by-asset-sale as the means to reduce leverage and stay afloat. However, the industry remains thwarted by non-stop challenges that are keeping its performance under pressure. The latest deterrents, nagging macroeconomic issues — the European...11Jul2012 | vitalstocks | Comments Off | Continued
(CS) Moody’s Investor Services Downgrades Major Banks
Moody’s Investor Services has finally announced the much-anticipated credit ratings revisions for major global banks, dealing a blow to the already stressed financial industry. This comes in the wake of weak global markets and the seemingly endless Eurozone crisis. Of the 17 major international...24Jun2012 | vitalstocks | Comments Off | Continued
(ITUB) Itau Unibanco S.A. – ADS – Bear of the Day
We are downgrading our recommendation on Itau Unibanco S.A. – ADS (ITUB) to Underperform from Neutral based on the deterioration in its credit quality. The company’s first quarter 2012 adjusted earnings were down 5.4%...7Jun2012 | vitalstocks | Comments Off | Continued
(LYG) Lloyds Banking Group plc to Sell Troubled Loans
On Friday, Reuters reported that a unit of UK-based Lloyds Banking Group plc (LYG) plans to sell a portfolio of troubled property loans in Australia to the private equity property funds managed by The Blackstone Group...4Jun2012 | vitalstocks | Comments Off | Continued
(HBC) Capital One Financial Outlook Reiterated by Fitch
Following the successful completion of the acquisition of HSBC Holdings Plc’s (HBC) U.S. credit card operations, Fitch Ratings affirmed all the ratings for Capital One Financial Corp. (COF)....24May2012 | vitalstocks | Comments Off | Continued
(BCS) Barclays to Sell BlackRock Stake
In an effort to meet the Basel III capital requirements and boost profitability, Barclays PLC (BCS) has decided to sell its 19.6% stake (about 35.2 million shares) in BlackRock Inc. (BLK)....23May2012 | vitalstocks | Comments Off | Continued
(HBC) HSBC Holdings to Close Japanese Retail Unit
As a part of its long-term strategy to revamp its operations to stabilize capital levels and improve efficiency, HSBC Holdings Plc (HBC) has decided to close its retail banking business in Japan. Earlier in May 2011, the CEO of the...24Feb2012 | vitalstocks | 0 comments | Continued
(HBC) HSBC Holdings Plc – ADS – Bear of the Day
We retain our Underperform recommendation on HSBC Holdings plc – ADS (HBC) with an Underperform recommendation. Our primary concern is the harsh impact from the deepening Eurozone crisis. Moreover, the company is suffering from...30Dec2011 | vitalstocks | 0 comments | Continued
(HBC) HSBC Holdings Plc – ADS – Bear of the Day
We retain our Underperform recommendation on HSBC Holdings plc (HBC) with an Underperform recommendation. Our primary concern is the harsh impact from the deepening Eurozone crisis. Moreover, the company is suffering from weak revenue...22Dec2011 | vitalstocks | 0 comments | Continued