Month: September 2011

Banking News – M&A volumes for 2011 set to disappoint
&nbspOptimists expect only single-digit rise, while gloomier assesments settle for a routine in line with last year’s flop
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/1f55f77a-eaa1-11e0-b0f5-00144feab49a.html?ftcamp=rss

Banking News – Investment banking fees at two-year low
&nbspMarket explosive nature and worries about European independent debt prompt a third consecutive weekly decline in M&A try
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/b6320f52-ea98-11e0-b0f5-00144feab49a.html?ftcamp=rss

Banking News – Splits and spinoffs of US groups on the rise
&nbspThe corporate approach has won favour as companies seek to improve their appraisal and refocus their affair as the fiscal outlook dims
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/85aa83ee-ea9f-11e0-b0f5-00144feab49a.html?ftcamp=rss

Banking News – Corporate debt sales slide to three-year low
&nbspFinancial turmoil has hurt investors’ inclination for riskier issuance and deterred safer companies from accessing capital
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/6839dc52-eaa8-11e0-aeca-00144feab49a.html?ftcamp=rss

Banking News – SMFG launches $1.1bn go on connect Promise
&nbspKey moment in integration of Japanese consumer lending sector into banks
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/92004b18-eb46-11e0-9a41-00144feab49a.html?ftcamp=rss

Banking News – UBS hires firm to help find new chief
&nbspThe Swiss bank’s board has not contacted outside candidates and has declined to name the search firm caught up
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/4048321c-eab6-11e0-ac18-00144feab49a.html?ftcamp=rss

Banking News – SMFG launches $1.1bn go on connect Promise
&nbspKey moment in integration of Japanese consumer lending sector into banks
FT.com – Banks – http://www.ft.com/cms/s/0/92004b18-eb46-11e0-9a41-00144feab49a.html?ftcamp=rss

Banking News – Lehman Brothers windup nears end
&nbspBank of America has agreed to support a negotiate bid to settle how the Lehman estate will repay its derivatives counterparties for cancelled positions
FT.com – Banks – http://www.ft.com/cms/s/0/367fb198-eae2-11e0-ac18-00144feab49a.html?ftcamp=rss

Banking News – UBS hires firm to help find new chief
&nbspThe Swiss bank’s board has not contacted outside candidates and has declined to name the search firm caught up
FT.com – Banks – http://www.ft.com/cms/s/0/4048321c-eab6-11e0-ac18-00144feab49a.html?ftcamp=rss

Banking News – BofA to charge for debit card use
&nbspDebit card users would pay $5 a month from early next year when they used the cards to buy goods, though “premium” clients will be exempt
FT.com – Banks – http://www.ft.com/cms/s/0/db5901ce-eace-11e0-ac18-00144feab49a.html?ftcamp=rss

Banking News – Santander predicts return to huge profits
&nbspThe Spanish bank expects its main emerging markets in Latin America and Poland to produce double-digit growth in the small to medium term
FT.com – Banks – http://www.ft.com/cms/s/0/895ac832-eab3-11e0-aeca-00144feab49a.html?ftcamp=rss

Banking News – Lenders left Tarp too soon, says audit
&nbspThe special checker general for the Uneasy Asset Relief Programme has found that Bank of America and Citigroup were allowed to repay their bail-outs too quickly
FT.com – Banks – http://www.ft.com/cms/s/0/f68118fe-eadf-11e0-ac18-00144feab49a.html?ftcamp=rss

Banking News – Kallakis’ £60m fraud trial starts
&nbspProperty and shipping magnate and his partner are accused of using forged ID to con banks into loans for properties across Mayfair and the City
FT.com – Banks – http://www.ft.com/cms/s/0/565abc30-eabd-11e0-ac18-00144feab49a.html?ftcamp=rss

Banking News – BofA: charges on the cards
&nbspBanking is a affair and if regulators or competitive forces take a small bit from over here, banks will try to make it back over there
FT.com – Banks – http://www.ft.com/cms/s/3/0ca926b4-ead9-11e0-ac18-00144feab49a.html?ftcamp=rss

Banking News – M&A volumes for 2011 set to disappoint
&nbspOptimists expect only single-digit rise, while gloomier assesments settle for a routine in line with last year’s flop
FT.com – Banks – http://www.ft.com/cms/s/0/1f55f77a-eaa1-11e0-b0f5-00144feab49a.html?ftcamp=rss

Banking News – SEC Charges Long Island-Based Hedge Fund Manager with Fraud Concerning PIPE Transactions
&nbspThe Securities and Chat Fee today charged a Long Island-based investment adviser with defrauding investors in hedge funds investing in PIPE transactions and misappropriating more than $1 million in client assets for his private use.
SEC.gov Updates: Press Releases – http://www.sec.gov/news/press/2011/2011-194.htm

Banking News – SEC Charges Bay Area Investment Adviser for Defrauding Clients and Falsifying ID During SEC Exam
&nbspThe Securities and Chat Fee today charged a San Francisco-area investment adviser with fraud for lying to clients about how brokerage fee rebates were being used and producing phony ID to cover up the fraud during an SEC examination.
SEC.gov Updates: Press Releases – http://www.sec.gov/news/press/2011/2011-193.htm

Banking News – European companies face rules cost ‘hit’
&nbspSweeping dictatorial changes plotted for banks and indemnity groups could raise borrowing costs for European companies by up to €50bn, says S&P
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/7456ee00-e9e8-11e0-a149-00144feab49a.html?ftcamp=rss

Banking News – US finance fraud reports surge by 88%
&nbspLenders taking back terrible home loans sold to investors blamed for the rise exposed in a US Reserves Sphere report
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/5f51c262-ea0d-11e0-b997-00144feab49a.html?ftcamp=rss

Banking News – SEC files civil charges against NIR founder
&nbspRegulator says Ribotsky hid mounting losses and stole $1m from hedge fund investors to fund a lavish lifestyle of pricey cars and jewellery
Fiscal Times – Fiscal Air force – http://www.ft.com/cms/s/0/66efb17e-ea0c-11e0-b997-00144feab49a.html?ftcamp=rss