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JPM
Pfizer hires JPMorgan to weigh sale of some drugs Bloomberg
Reuters Pfizer Inc N PFE is exploring sale of a group of treatments in cardiology urology and primary care Bloomberg reported on Thursday citing people familiar with the matter The drugs could fetch more than 2 billion Bloomberg reported Pfizer is working with financial adviser JPMorgan Chase Co NY...
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HSBC hires Deutsche Bank s Laing to cover emerging markets ECM sources
LONDON Reuters HSBC L HSBA has hired former Deutsche Bank DE DBKGn executive Christopher Laing to cover emerging markets equity capital financing sources with direct knowledge of the matter said on Thursday Laing s title is still to be finalised but he will perform a similar role to that of head of emerging...
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Top Democrat says regional banks key to Wall Street win on derivatives
By Amanda Becker and Emily Stephenson WASHINGTON Reuters A top Democrat in the U S House of Representatives on Tuesday said unpopular Wall Street banks got a long sought rollback to Dodd Frank reforms through Congress last week partly by leveraging the influence of smaller banks that hold greater sway with lawmak...
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SMBC to buy Citi Japan retail business in October sources
By Taro Fuse TOKYO Reuters Sumitomo Mitsui Banking Corp SMBC will buy Citigroup Inc s N C Japanese retail banking operations in October for about 40 billion yen 330 million people with knowledge of the matter said on Wednesday The Sumitomo Mitsui Financial Group Inc T 8316 unit will announce the long a...
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Citigroup To Sell Japan Retail Banking Business To Sumitomo Mitsui
By Citigroup and SMBC cost of which is still unknown will include the sale of 740 000 accounts worth about billion title Reuters The deal between Citigroup and SMBC cost of which is still unknown will include the sale of 740 000 accounts worth about billion rel external image Citigroup NYSE C will...
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Citigroup makes last minute cut in year end bonuses for traders
Reuters Citigroup Inc N C this week cut its bonus pool for fixed income and equity market traders after market revenues plunged during the last two weeks of the year according to a person familiar with the matter Bonuses will be down about 5 to 10 percent from a year earlier the person said As of mid December...
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Citi To Sell Prepaid Card Services As Streamlining Continues
Citigroup Inc NYSE C inked yet another deal in continuation with its efforts to boost returns by streamlining operations The Wall Street banking giant is set to sell its institutional Prepaid Card Services to Germany based payment and issuing company Wirecard AG The deal includes transfer of around 120 employees...
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UPDATE 2 SMFG seeks majority control of Daiwa SMBC media
SMFG wants to up stake in Daiwa SMBC as high as 67 Yomiuri Resistance within Daiwa to losing control of JV Yomiuri SMFG would merge Daiwa SMBC with Nikko wholesale ops Yomiuri Recasts adds SMFG spokeswoman comment TOKYO Aug 19 Reuters Sumitomo Mitsui Financial Group is looking to take majority control ...
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MONEY MARKETS Euroyen futures rally halts yen TIBOR freezes
Euroyen futures rally halts LIBOR TIBOR spreads widen Aussie interbank bill futures stabilise after rally Dollar interbank rates at fresh lows By Vidya Ranganathan SINGAPORE Aug 19 Reuters Japanese yen interbank rates paused after a week long rally on Wednesday in step with other short term rates mark...
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EARNINGS POLL Maersk seen swinging to half year loss
A P Moller Maersk seen reporting half year net loss Results released on Friday Aug 21 Net loss seen at 2 91 bln crowns COPENHAGEN Aug 19 Reuters Danish shipping and energy group A P Moller Maersk is expected to post a net loss for the first half of 2009 because of low freight rates and slipping oil p...
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GLOBAL MARKETS Shanghai stocks rebound 4 pct drive Asia gains
Shanghai up 4 pct set for biggest 1 day rise in 5 months Asian stocks follow China bounce Europe called higher Shanghai trade still volatile on low volumes MSCI Asia ex Japan gains 1 4 pct copper and gold edge up Analysts say don t read too much into Shanghai swings By Eric Burroughs HONG KONG Aug 2...
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GLOBAL MARKETS Shanghai stocks rebound drive Asia gains
Shanghai up 4 pct set for biggest 1 day rise in 5 months Asian stocks follow China bounce Europe called higher Shanghai trade still volatile on low volumes MSCI Asia ex Japan gains 1 4 pct copper and gold edge up Analysts say don t read too much into Shanghai swings By Eric Burroughs HONG KONG Aug 2...
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UPDATE 5 Swiss turn a profit on 5 1 bln UBS stake sale
Swiss govt sells 9 percent stake in UBS Shares sold at 16 50 francs UBS shares up 4 6 percent Adds official price By Douwe Miedema and Sam Cage LONDON ZURICH Aug 20 Reuters Switzerland sold its stake in UBS for 5 5 billion Swiss francs 5 1 billion on Thursday making a solid profit from last year ...
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ANALYSIS Europe stocks seek revenue boost after cost cuts
Cost cutting helps firms to beat Q2 profit estimates Further savings hard to achieve focus on revenue growth Return to growth in some G7 countries will help sales By Dominic Lau and Atul Prakash LONDON Aug 20 Reuters A sputtering European stock market rally needs a spark from clear signs of an economi...
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UPDATE 2 India s Adani Power shares make disappointing debut
End flat after falling below issue price Could tame price expectations for coming IPOs Updates closing share price analysts view on the stock By Narayanan Somasundaram Janaki Krishnan MUMBAI Aug 20 Reuters Shares in Adani Power which raised 630 million in India s first large IPO in 18 months mad...
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INTERVIEW Origo CEO says investment sentiment on the up
Emerging mkt investors better insulated than western Sees opportunities in Chinese consumer goods clean energy Says UK investor confidence at 6 mo high By Rhys Jones LONDON Aug 20 Reuters Origo Sino India an Asia focused private equity group believes investor sentiment is at its best level for six mo...
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Dollar wallows near seven week lows on Trump protectionism
By Yuzuha Oka TOKYO Reuters The dollar struggled near seven week lows on Thursday on growing concerns over U S President Donald Trump s protectionist policies including an executive order to construct a U S Mexican border wall The dollar index DXY which tracks the greenback against a basket of major currenci...
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Speculation builds on a Verizon Charter tie up no offer made
By Anjali Athavaley and Liana B Baker Reuters Verizon Communications Inc NYSE VZ is interested in exploring a combination with U S cable company Charter Communication Inc as part of a long list of acquisition targets but no proposal has been made for a tie up between the two companies sources told Reuters o...
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Chipper mood on European earnings warrants caution
By Atul Prakash and Vikram Subhedar LONDON Reuters The mood among analysts on the outlook for European earnings is the brightest in 6 years although a combination of higher valuations and optimistic projections leaves the bar for disappointment in the imminent results season fairly low Lofty expectations at the s...
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Florida bitcoin exchange operator s dad avoids prison
By Nate Raymond NEW YORK Reuters The father of a Florida man who prosecutors said operated an illegal bitcoin exchange avoided prison on Friday after pleading guilty in a case that stemmed from an investigation into a cyber breach at JPMorgan Chase Co NYSE JPM Federal prosecutors in Manhattan had sought up to ...
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Citi adds 600 positions in Northern Ireland jobs boost
BELFAST Reuters U S bank Citi N C will hire 600 people in Belfast in one of the largest expansions by a multinational in Northern Ireland in recent years Sixteen years after a peace deal largely brought an end to three decades of sectarian violence Northern Ireland s economy remains heavily dependent on subsi...
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ECB drops Citi from FX contact group
By Eva Taylor and Jamie McGeever FRANKFURT Reuters The European Central Bank has dropped Citigroup N C from its experts working group on foreign exchange days after the U S bank was fined by U S and UK regulators for failing to stop traders from trying to manipulate the currency market A source familiar with...
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Lawsuit accuses Wells Fargo of biased lending in Chicago area
By Jonathan Stempel Reuters Wells Fargo Co was sued on Friday by Cook County Illinois which accused the largest U S mortgage lender of targeting black Hispanic and female borrowers with predatory and discriminatory lending in the Chicago area The lawsuit is the latest accusing major banks of biased mortgag...
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Former ICAP trio plead not guilty to Libor fraud charges
LONDON Reuters Three former ICAP L IAP brokers pleaded not guilty in London on Friday to criminal charges that they had sought to manipulate benchmark interest rates setting the scene for a high profile trial next year Colin Goodman Darrell Read and Danny Wilkinson entered their pleas at London s Southwark Cr...
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Citi s credit card business in Japan gets joint bid from three buyers Nikkei
Reuters Three companies have emerged to make a joint bid for Citigroup Inc s N C credit card business in Japan the Nikkei reported as the U S lender goes ahead with plans to exit consumer banking in the country Shinsei Bank Ltd T 8303 department store operator Isetan Mitsukoshi Holdings Ltd T 3099 and c...
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Citigroup to post 2 7 billion in added legal costs in fourth quarter CEO
Reuters Citigroup Inc will record 2 7 billion in litigation expenses and another 800 million in repositioning charges leaving the third largest U S bank marginally profitable in the fourth quarter its chief executive officer said on Tuesday Mike Corbat s announcement at a New York investor conference was ...
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FTSE eases as weak banks offset oil miner gains
Banks weak on fundraising uncertainties Oils miners up as commodity prices stabilise Friends Provident up on takeover deal International Power boosted by results By David Brett LONDON Aug 11 Reuters Britain s top share index slipped 0 1 percent by mid session on Tuesday as weakness in banks offset ...
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ANALYSIS Bets advance on ECB rate hike after growth hints
By Kirsten Donovan LONDON Aug 11 Reuters A bit more optimism from the European Central Bank s chief and signs of improvement in euro zone and U S economic data have led money markets to bring forward bets for a first rise in euro zone interest rates The ECB s Jean Claude Trichet last week hinted growth could ...
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China shares slide on IPO worries drag HK stocks down
Updates to midday HONG KONG SHANGHAI Aug 14 Reuters China stocks slid 2 4 percent on Friday knocking Hong Kong shares off their firm start as worries about new supplies of shares joined a list of concerns that left this year s rally looking overdone Financial shares dragged the index lower amid market talk ...
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China shares skid on IPO worries HK shares inch up
China shares finish at lowest in six weeks Shanghai index drops 6 6 pct on wk biggest drop in 5 mnths HK shares claw back 0 2 pct led by Li Fung Updates to close By Parvathy Ullatil and Claire Zhang HONG KONG SHANGHAI Aug 14 Reuters Chinese stocks slid 3 percent to their lowest close in six weeks o...
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Turquoise hires UBS to seek a buyer sources
LONDON Aug 18 Reuters Turquoise the pan European equity trading venture backed by nine of the world s biggest investment banks has hired UBS to seek a buyer people familiar with the matter said on Tuesday Sales documents have been send to all major exchanges and so called multilateral trading facilities MTFs...
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Latin America s priciest bank keeps short sellers at bay for how long
By Guillermo Parra Bernal SAO PAULO Reuters Investors have been puzzled by a 170 percent rally in shares of Banco Santander Brasil SA over the past year that made it Latin America s most expensive bank Now some are gearing up to bet against a stock whose value seems unrealistic in comparison to larger peers No...
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Saudi Aramco asks banks to pitch for world s largest share sale
By Reem Shamseddine and Tom Arnold KHOBAR Saudi Arabia DUBAI Reuters Oil and gas company Saudi Aramco has invited banks to pitch for an advisory position on what is expected to be the world s biggest initial public offering sources familiar with the matter told Reuters on Tuesday Morgan Stanley NYSE MS and H...
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Aramco IPO likely to go ahead Q2 Q3 2018 with 5 stake offered
Investing com Most observers expect Saudi Arabia to proceed with oil giant Aramco IPO but some have doubts NYSE JPMorgan other banks advising kingdom to get Aramco in financial shape for listing Aramco income tax rate of 85 needs to be cut also pays 20 royalty to Saudi state IPO of 5 of Aramco worth estimated ...
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Citi to pay 1 02 billion to settle foreign exchange probe
Reuters Citigroup Inc said it will pay 1 02 billion to settle a probe by regulators for failing to stop traders from trying to manipulate the foreign exchange market Citi acted quickly upon becoming aware of issues in our foreign exchange business monitoring processes to better guard against improper behavi...
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U S stocks slip from records oil falls
By Richard Leong NEW YORK Reuters U S equity prices edged off record highs on Wednesday led by weakness in the financial sector after six global banks were fined a total of 4 3 billion for currency rigging while the oil market sagged on concerns about a supply glut Global regulators fined UBS AG HSBC Holdings ...
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Citigroup now understands next stress test requirements CFO says
NEW YORK Reuters Citigroup Inc N C for the first time understands requirements for the next Federal Reserve stress test of its capital thanks to the most complete instructions yet from the regulators chief financial officer John Gerspach said on Thursday Gerspach speaking at an investor conference said this i...
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Forex fines show still much to do on UK banking reform lawmakers
By Kylie MacLellan LONDON Reuters An international settlement over allegations of manipulation in the foreign exchange market shows reform of Britain s banking system is still badly needed and must not be diluted a group of British lawmakers said on Monday Regulators last week imposed fines totaling 4 3 billion ...
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Citi cuts around 35 jobs on London trading floor sources
LONDON Reuters U S bank Citi N C has cut around 35 jobs across its capital markets trading operation in London sources with knowledge of the changes said on Wednesday The cuts announced internally last month were across all asset classes the sources said and included head of G10 currency strategy Valentin ...
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U S Justice Dept collects record 24 billion in penalties in fiscal 2014
WASHINGTON Reuters The U S Department of Justice collected a record 24 7 billion in penalties from fraud and other cases in fiscal year 2014 the agency said on Wednesday as fines against banks for financial misconduct soared Collections from civil and criminal actions including money collected on behalf of ot...
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Sanofi s Lantus avoids meltdown after cancer scare
Prescriptions for diabetes treatment holding up Analysts review worst case forecasts for Lantus sales Sanofi expected to reiterate confidence at H1 results Shares up 2 6 percent By Ben Hirschler LONDON July 28 Reuters One month on from a cancer scare that investors feared might sink sales of Sanofi ...
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ANALYSIS Bubbly markets are OK while Asia waits on exports
Policymakers unlikely to tackle asset bubble fears for now Broader economic recovery export revival still key Some countries may tinker with monetary policy lending By Vidya Ranganathan SINGAPORE July 29 Reuters Ignoring increasingly frothy asset markets may not be the most prudent strategy to adopt wh...
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UPDATE 2 ANZ likely to agree 775 mln RBS Asian deal source
Deal expected to be announced this week source Covers assets in six Asian markets China India excluded ANZ shares rise 2 5 pct in line with peers Recasts lede adds fund manager comments By Denny Thomas SYDNEY Aug 3 Reuters Australia and New Zealand Banking Group Ltd will likely clinch a deal this...
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China may need 2nd fiscal stimulus next yr Roach
By Deborah Kan HONG KONG Aug 4 Reuters China may need a second fiscal stimulus package in 2010 once the impact of the plans announced late last year begins to fade Morgan Stanley Asia Chairman Stephen Roach said in an interview with Reuters Television on Tuesday Roach s views stand at odds with a chorus of opt...
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UPDATE 1 M Stanley eyes Shanghai property sale sources
Morgan Stanley aims to sell The Exchange sources Seeks around 366 million sources Developer SOHO China frontrunner to buy sources Adds quotes more details and background By George Chen Asia Private Equity Correspondent HONG KONG Aug 4 Reuters The real estate investment arm of U S bank Morgan S...
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ANALYSIS New sovereign funds to emerge as crisis eases
By Natsuko Waki LONDON Aug 4 Reuters As the world emerges from financial crisis a new generation of sovereign wealth funds is set to be born and it may act as a catalyst for the recovery of global markets An estimated 3 trillion is currently parked in state owned funds which manage nations windfall earnings...
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UPDATE 4 SocGen profit fall cushioned by market rebound
Q2 net profit 309 million eur vs poll avg 97 million Loan loss provisions 1 1 bln eur vs 1 3 bln forecast Investment banking arm recovers close to breakeven Says signs market stabilising aims to stay independent Shares up 6 percent in afternoon trade Adds more comments from SocGen executives analys...
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WRAPUP 1 US jobless claims fall sharply buoy recovery hopes
U S weekly new jobless claims fall sharply last week Number of workers on long term unemployment aid rises White House says labor market to improve slowly Some retailers report sales less steep than expected By Lucia Mutikani WASHINGTON Aug 6 Reuters The number of laid off U S workers submitting new...
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JPMorgan raises CEO Dimon s pay 3 7 percent to 28 million
NEW YORK Reuters JPMorgan Chase Co N JPM directors paid Chief Executive Jamie Dimon 28 million in total compensation for 2016 a 3 7 percent increase from the prior year the company said on Thursday His package includes a base salary of 1 5 million as well as cash and stock related instruments that are tied...
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Obama picks Brooklyn prosecutor Lynch for attorney general
By Aruna Viswanatha and Roberta Rampton WASHINGTON Reuters President Barack Obama will nominate Brooklyn federal prosecutor Loretta Lynch to replace the retiring Eric Holder as U S attorney general and if confirmed she would become the first black woman to serve in the post the White House said on Friday The ...
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European stocks decline ahead of BoE report banks weigh Dax down 0 91
Investing com European stocks were lower on Wednesday as investors remained cautious ahead of the Bank of England s upcoming inflation report and following news five banks were fined for forex manipulation During European morning trade the DJ Euro Stoxx 50 retreated 0 86 France s CAC 40 declined 0 60 while Ger...
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Fed investigating bank conduct in forex markets
WASHINGTON Reuters The U S Federal Reserve is investigating possible improper conduct in foreign exchange markets by large banking institutions a spokesman said on Wednesday The Federal Reserve is continuing to investigate in the foreign exchange markets in coordination with other authorities including the Dep...
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Regulators fine global banks 3 4 billion in forex probe
By Kirstin Ridley and Joshua Franklin LONDON ZURICH Reuters Regulators fined five major banks 3 4 billion for failing to stop traders from trying to manipulate the foreign exchange market the first settlement in a year long global investigation UBS VX UBSN HSBC L HSBA and Citigroup N C Royal Bank of Sc...
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FOREX US dollar falls vs major currencies tracking stocks
Dollar edges lower against basket of currencies Steady stocks housing data offset weak bank results Bank of England to keep asset buying level Recasts updates prices adds quotes changes byline By Wanfeng Zhou NEW YORK July 22 Reuters The U S dollar edged lower on Wednesday as a steady performance ...
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FOREX US dollar hits seven week low versus basket
Dollar falls to seven week low vs basket of currencies Steady stocks housing data offset weak bank results Bank of England to keep asset buying level Updates prices adds quotes By Wanfeng Zhou NEW YORK July 22 Reuters The dollar hit a seven week low versus a basket of currencies on Wednesday as stea...
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Bitcoin exchange employee pleads guilty in U S case tied to hacking
By Nate Raymond NEW YORK Reuters A Florida man pleaded guilty on Tuesday to charges stemming from his employment with an unlicensed bitcoin exchange that prosecutors say was owned by an Israeli who oversaw a massive scheme to hack companies including JPMorgan Chase Co NYSE JPM Ricardo Hill 38 entered his ple...
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Capital curbs push Chinese firms to risky costly dollar bonds
By Samuel Shen and John Ruwitch SHANGHAI Reuters China s efforts to support its currency and cool its hot property market are encouraging more Chinese companies including many state firms to take on extra cost and risk by raising foreign currency bonds in Hong Kong and other offshore locations Despite the yuan s...
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South Korea s Netmarble seeks M As U S expansion founder
By Joyce Lee SEOUL Reuters South Korea s largest mobile game company Netmarble Games Corp is seeking more mergers and acquisitions and intellectual property rights to expand its share of the gaming market in North America and Europe its founder said The Tencent backed HK 0700 firm with plans for a public l...
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U S sues JPMorgan for alleged mortgage discrimination
By Dena Aubin NEW YORK Reuters The United States on Wednesday sued JPMorgan Chase Co NYSE JPM accusing the bank of discriminating against minority borrowers by charging them higher rates and fees on home mortgage loans between 2006 and at least 2009 Filed in a Manhattan federal court the government s complai...
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Citigroup sets aside 600 million more to cover legal costs
By David Henry and Ankur Banerjee Reuters Citigroup Inc N C said it was setting aside an extra 600 million to cover legal expenses in the third quarter due to rapidly evolving regulatory inquiries while also disclosing that it was subject to foreign exchange market probes Citigroup is one of six major bank...
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RBS takes 640 million forex charge and warns of more to come
By Matt Scuffham LONDON Reuters State backed Royal Bank of Scotland L RBS has set aside 400 million pounds 640 million to cover potential fines for manipulating currency markets and warned further charges for past misconduct would continue to hit its profits RBS 80 percent owned by the British government f...
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Monte Paschi working on substantial capital increase source
By Pamela Barbaglia LONDON Reuters Italy s Banca Monte dei Paschi di Siena is working on a rights issue to fill at least half of a 2 1 billion euro 2 6 billion capital hole uncovered in a European financial health check a source with direct knowledge of the matter said The world s oldest surviving bank has hir...
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Banks set aside up to 7 billion as UK currency settlement looms
By Jamie McGeever LONDON Reuters Major banks have set aside almost 7 billion for potential settlements with regulators investigating allegations of collusion and manipulation in foreign exchange markets the first of which could come in Britain later this month Europe s largest bank HSBC L HSBA on Monday was th...
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Citigroup C Sues AT T For Infringing ThankYou Trademark
Ever thought saying ThankYou could land you in trouble Well this is actually happening Citigroup Inc NYSE C is suing the telecom major AT T Inc NYSE T for trademark infringement The bank alleged that AT T s use of the trademarks thanks and AT T thanks infringes upon the former s trademarks including...
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Citigroup C Brazil Unit Divestment May Take Up To 3 Months
Per a Reuters report the Wall Street giant Citigroup Inc NYSE C will take another three months to finalize the sale of its Brazilian retail banking unit However Helio Magalhaes senior country executive for Citigroup in Brazil did not disclose the names of the potential bidders and said the bank is working on ...
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FOREX Dollar rises as US bank results weigh on risk appetite
Morgan Stanley incurs Q2 loss Euro high yielders down as risk rally fades Markets await Bernanke s second day of testimony Recasts updates prices adds quotes changes byline dateline previous LONDON By Gertrude Chavez Dreyfuss NEW YORK July 22 Reuters The dollar edged higher against the euro while...
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Europe stock lower banks fall after Morgan Stanley
FTSEurofirst 300 index down 0 4 percent Banks fall after Morgan Stanley Wells Fargo earnings GlaxoSmithKline gains after results By Joanne Frearson LONDON July 22 Reuters European shares were down in afternoon trade on Wednesday with banks leading the decline after quarterly results from U S banks Mor...
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US STOCKS Wall St slips at open as bank results disappoint
NEW YORK July 22 Reuters U S stocks fell at the open on Wednesday after a batch of corporate earnings mostly beat lowered expectations but the key financial sector continued to show signs of weakness A third consecutive quarterly loss at Morgan Stanley and rising credit losses at Wells Fargo Co dented rece...
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FOREX U S dollar rises vs euro as risk rally fades
Morgan Stanley incurs loss Wells Fargo credit losses up Euro high yielders down as risk trades fall Bank of England to keep asset buying level Updates prices adds quotes By Gertrude Chavez Dreyfuss NEW YORK July 22 Reuters The dollar drifted higher against the euro while the yen edged up on Wednesd...
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FTSE adds 0 3 pct extends rally to eighth session
Defensive stocks gain as risk appetite eases GlaxoSmithKline posts solid Q2 numbers Banks weak U S sector results disappoint By Jon Hopkins LONDON July 22 Reuters Britain s leading shares index added 0 3 percent on Wednesday extending its winning streak to eight sessions thanks to modest gains on Wa...
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FOREX U S dollar slips in volatile trading
Dollar turns lower vs euro after trading up most session Currencies track Wall Street stocks Morgan Stanley incurs loss Wells Fargo credit losses up Bank of England to keep asset buying level Recasts updates prices adds quotes By Gertrude Chavez Dreyfuss NEW YORK July 22 Reuters The dollar edged...
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JPMorgan upgrades Indonesian stocks to neutral after row
By Gayatri Suroyo and Hidayat Setiaji JAKARTA Reuters JPMorgan Chase Co N JPM upgraded its investment recommendation on Indonesian stocks to neutral from underweight on Monday partially reversing a move it made in November that upset the government Indonesia cut its business ties with JPMorgan after the U...
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Luxottica and Essilor in 46 billion euro merger to create eyewear giant
By Valentina Za and Sudip Kar Gupta MILAN PARIS Reuters Italy s Luxottica MI LUX and France s Essilor PA ESSI have agreed a 46 billion euro 49 billion merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros The all share deal is one of Europe s largest cross border ...
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U S and UK to test big bank collapse in joint model run
By Randall Palmer and Douwe Miedema WASHINGTON Reuters Regulators from the United States and the United Kingdom will get together in a war room next week to see if they can cope with any possible fall out when the next big bank topples over the two countries said on Friday Treasury Secretary Jack Lew and the UK s...
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Citigroup shares gain 1 2 after Q3 earnings beat
Investing com Banking conglomerate Citigroup NYSE C reported better than expected third quarter earnings and revenue on Tuesday sending its shares higher in pre market trade Citigroup said adjusted earnings per share came in at 1 15 in the three months ending September 30 above expectations for earnings of 1 ...
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Citi pulls out of consumer banking in 11 countries profit jumps
By Anil D Silva and David Henry Reuters Citigroup Inc N C said it was pulling out of consumer banking in 11 markets including Japan and Egypt as the U S bank with the biggest international business looks to cut persistently high costs The third largest U S bank built with a series of acquisitions spanning...
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Bears Finally Gain Some Real Ammunition
So the bears finally had some real ammunition First there was the news out of financial leader C Citigroup NYSE C They told the street that there would be this little thing called a warning about their next earnings quarter You know just the run of the mill 25 WARNING Are you kidding me Who misses by that...
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Commodities Enter Bull Market 6 ETF Winners
Broad commodities saw a strong start this year and are clearly outperforming global equities and bonds indicating that the five year bear market for commodities has finally come to halt Notably the Bloomberg Commodity Index which tracks returns from 22 raw materials is up over 11 compared to gains of 6 for the g...
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Citigroup Inc Stock Chart Shows Major Pattern
Citigroup Inc NYSE C has a classic head and shoulder pattern showing up on the daily Remember head and shoulder patterns are bearish in nature and foretell downside action Citigroup will break the neckline at 44 50 The calculated target fall takes the stock from down to 38 00 a 15 drop Note the chart below ...
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Buoyant financials fuel European stocks winning run
FTSEurofirst 300 rises 0 5 percent up for 7th straight day Financials pace gains led by Santander Axa Morrison s strong sales outlook boosts food retailers Nokia drops 2 9 percent after Morgan Stanley downgrade For up to the minute market news click on By Blaise Robinson PARIS July 21 Reuters ...
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UPDATE 2 UAE s Etisalat bids for Libyan telecom licence
Bids for fixed and mobile licence CEO International says would invest at least 500 million CFO says still not bid for Meditel stake in Morocco Adds more Etisalat comment analyst By John Irish ABU DHABI July 21 Reuters UAE telecoms firm Emirates Telecommunications Corp Etisalat could invest at lea...
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US STOCKS SNAPSHOT Futures slide as bank results disappoint
NEW YORK July 22 Reuters U S stock index futures added to losses on Wednesday after disappointing quarterly results from Morgan Stanley and Wells Fargo Co Shares of both banks were down more than 5 percent in premarket trade S P 500 futures fell 8 6 points and were below fair value a formula that evaluates...
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US STOCKS Futures moving lower after bank earnings
Morgan Stanley Wells Fargo results disappoint Fed Chairman Bernanke to speak to Senate Updates prices adds quote byline By Rodrigo Campos NEW YORK July 22 Reuters U S stock index futures pointed to a lower open on Wednesday after disappointing quarterly banking results dented recent optimism about th...
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JPMorgan Q4 EPS 1 71 vs estimate 1 44 revenues up 2
Investing com NYSE JPMorgan Friday reported Q4 EPS of 1 71 vs estimate of 1 44 and year earlier 1 32 Revenues increased 2 to 24 33 bn compared with a forecast of 23 74 bn Net interest income was up 5 at 12 1 bn boosted by higher interest rates JPMorgan shares were up 0 19 at 86 40 in pre market trade
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Swiss bank UBS warns of penalties as forex settlement talks begin
By Joshua Franklin ZURICH Reuters Switzerland s largest bank UBS warned it faced new fines after confirming it was holding talks to settle allegations it was involved in rigging foreign exchange rates Authorities from around the world are investigating allegations that dealers at major banks colluded and manipul...
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May Asset Class Review REITs Lead EM Bonds Lag
The recent rebound in global markets stumbled in May Other than gains in US REITs US equities and US high yield bonds the rest of the field for the major asset classes suffered losses last month The big winner in May real estate investment trusts in the US MSCI REIT which posted a 2 4 total return last month ...
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KKR merger with Euronext fund moves closer sees profit
KPE board unanimously approves proposed KKR deal Deal still requires consent from KPE shareholders NYSE listing remains on horizon Equity incentive plan proposed KKR Q2 earnings seen 345 mln 370 mln AUM 50 8bln By Megan Davies NEW YORK July 20 Reuters Private equity firm Kohlberg Kravis Rober...
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UPDATE 2 Hopu Temasek eye 1 bln China iron ore IPO sources
Iron ore miner Lung Ming seeks to raise up to 1 billion Lung Ming s Hong Kong IPO likely in the fourth quarter Hopu Temasek invested 300 million in Lung Ming in 2008 Adds additional company background Lung Ming investors By George Chen and Michael Flaherty HONG KONG July 20 Reuters Chinese iron or...
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Wall St lower as Trump eschews economic policy details
Investing com U S stocks were lower early Thursday as Donald Trump failed to provide details of his economic policies Wednesday The market expected Trump to flesh out plans for a fiscal stimulus package and corporate tax cuts at a much awaited news conference The DJI was off 0 75 at 10 30 ET after closing higher o...
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JPMorgan sees Brazil Mexico politics posing risk for bank bonds
SAO PAULO Reuters A slow economic recovery across Latin America and growing political risks in Brazil Mexico and Argentina could pose additional challenges for commercial banks some of which have been wrestling with loan quality issues in recent years JPMorgan NYSE JPM Securities said on Thursday In a client ...
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U S stock index futures edge higher as U S data on tap
Investing com U S stock index futures edged higher Friday with U S consumer data on tap The Dow futures was up 0 11 at 07 30 ET after the DJI fell overnight TheS P 500 futures gained 0 10 The tech heavy Nasdaq 100 futures added 0 16 U S retail sales consumer sentiment are due for release later in the session ...
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JP Morgan shares rise after Q4 beat
Investing com JP Morgan the biggest U S bank reported earnings and revenue that beat Wall Street forecasts on Friday Specifically the blue chip bank reported earnings per share EPS of 1 71 compared to expectations for 1 44 Net revenue rose 2 from a year ago to 24 33 billion beating the consensus forecas...
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U S judge sets hearing in Argentina bond case over Citi subpoena
NEW YORK Reuters A U S judge overseeing litigation by Argentina and creditors who did not participate in the country s past debt restructurings on Friday scheduled a hearing to assess whether Citigroup Inc N C should be forced to comply with a subpoena U S District Judge Thomas Griesa in New York scheduled a ...
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Parmalat ordered to pay Citibank 431 million lawyers
MILAN Reuters An Italian court upheld a ruling by a U S court for dairy group Parmalat MI PLT to pay Citibank N C 431 million in damages in a case relating to the Italian company s 2003 bankruptcy lawyers for the U S bank said on Thursday In 2008 the Superior Court of New Jersey had thrown out a request fo...
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Citigroup expenses rise to meet stress testing
NEW YORK Reuters Citigroup Inc s N C third quarter expenses are running slightly higher than three months ago because of efforts to prove to regulators that its risk and balance sheet management is good enough to allow more spending for dividends and share buybacks the bank s chief financial officer said on Mo...
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Banks join forces in push for coordinated FX settlement sources
By Jamie McGeever LONDON Reuters Banks caught up in the British investigation into alleged manipulation of global currency markets are pushing for a coordinated settlement that would reduce their exposure to potential reputational damage banking and legal sources told Reuters In the year since the scandal surface...
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Is Manufacturing On The Rebound Services PMI Casts Doubt
Markit s Services PMI fell to just 51 2 in May dropping a rather large 1 6 points from 52 8 in April That meant the combined US Composite PMI which puts together both manufacturing and services was barely above 50 registering just 50 8 As with all PMI s the distinction around 50 is unimportant what matters is th...
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The Zacks Analyst Blog Highlights Contango Oil Gas Sanchez Energy Rose Rock Midstream McDermott International And Pembina Pipeline
For Immediate Release Chicago IL May 27 2016 Zacks com announces the list of stocks featured in the Analyst Blog Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets Stocks recently featured in the blog include Contango Oil Gas Company ...
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ANALYSIS India budget disappoints but more detail to come
By Tony Munroe and Surojit Gupta NEW DELHI July 7 Reuters India s newly re elected government may have disappointed investors with a deficit laden budget lacking big pro market initiatives but it does not mean the government has abandoned intentions towards reforms Investors many of whom had priced in unrealis...
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ANALYSIS Stocks contrarians favour growth laggards Europe Japan
By Natsuko Waki LONDON July 9 Reuters Investors who have long dismissed Europe and Japan as laggards in any global economic recovery are starting to view equities in these regions as adequately priced for that underperformance and may look to put cash back in Convinced that the euro zone and Japan will find it ...