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ECB Cuts Interest Rate by Half Point as Recession Grips Eurozone

Thu, 06 Nov 2008 15:45:00 GMT

By Jason Simpkins Associate Editor Money Morning The European Central Bank (ECB) today (Thursday) cut its benchmark interest rate by half a point to 3.25%. The reduction was widely ... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first. [More...]

Turbulence in the European Economy Sparks a Dollar Rally

Mon, 11 Aug 2008 23:48:00 GMT

By Jason Simpkins Associate Editor The U.S. greenback surged Friday, capping off the biggest weekly dollar rally in three and a half years, as the euro slumped on speculation the European economy...Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first. [More...]

SEC Extends Naked Short Selling Order

Tue, 05 Aug 2008 17:57:00 GMT

"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey Don't you love "election year magic?". Oil and commodity prices are falling, and today the SEC has extended its emergency order prohibiting naked short sel[More...]

Eurozone Growth Revised Down as Inflationary Pressures Trump Economic Growth

Wed, 09 Jul 2008 21:31:00 GMT

By Jason Simpkins Associate Editor First-quarter growth in the 15-nation Eurozone was weaker than first reported, yet another worrying development for a region already struggling with soaring...[More...]

Bank of the West losses continue

Wed, 04 Nov 2009 13:47:00 GMT

Nov. 4--Bank of the West staggered to a $97 million third-quarter loss -- but the red ink was considerably less than the $143 million the regional bank lost in the second quarter, regulatory filings show.
San Francisco-based Bank of the West has lost a cumulative $325 million for the first nine months of 2009, including a first-quarter loss of $85 million.
The last profit for Bank of the West occurred a year ago, when it earned $8.1 million in the third quarter of 2008.

[More...]

Bank of the West losses continue

Wed, 04 Nov 2009 00:47:00 GMT

Nov. 3--Bank of the West staggered to a $97 million third-quarter loss -- but the red ink was considerably less than the $143 million the regional bank lost in the second quarter, regulatory filings show.
San Francisco-based Bank of the West has lost a cumulative $325 million for the first nine months of 2009, including a first-quarter loss of $85 million.
The last profit for Bank of the West occurred a year ago, when it earned $8.1 million in the third quarter of 2008.

[More...]

Kuwait 'least attractive' for foreign investment

Tue, 03 Nov 2009 18:47:00 GMT

Nov. 3--KUWAIT -- Kuwait is among countries that attract the least foreign investments worldwide, as statistics show that foreign capital influx in the country was around $120 million in 2006 and 2007, a World Bank official said during the Kuwait Financial Forum.
Kuwait can do better," said Radwan Shaaban, the Director of the World Bank office in Kuwait during the second day of the forum at the Sheraton Hotel.
Radwan noted that the World Bank report showed that the investment environment in Kuwait had retreated in the global classification index and it ranks 161 among countries worldwide.

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Qatar Airways Flying Above Credit Crunch

Wed, 30 Sep 2009 19:47:00 GMT

Sep. 30--Qatar Airways has secured two innovative financing deals worth a total of US$700million for the purchase of four brand new Boeing 777 aircraft due for delivery over the next few months.
A US$350 million finance lease deal to purchase two new Boeing 777 aircraft -- both a 777-300ER and a 777-200LR version -- followed an agreement with five leading international banks.
One Boeing 777-300 Extended Range aircraft is scheduled for delivery this month and one 777-200 Long Range version is due to be delivered in November 2009.

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Saudi Arabia: International Bankers Outraged at Rumored Secret Algosaibi - Al Saad Bailout

Tue, 22 Sep 2009 19:49:00 GMT

Sep. 22--A rumored secret bailout that took place days ago in Saudi Arabia has International bankers up in arms.
No official details have been released, but it is said that the government-frozen assets of troubled Saudi financial groups Algosaibi and Saad (Al Sanea) have been used to pay off their debts to local creditors, at the expense of foreign firms now left with billions of dollars of unsecured debt.
A business analyst that specializes in the region noted that foreign firms doing business with Saudi Arabia have always accepted certain inequitable restrictions required for doing business in the Kingdom because of the belief that these were balanced by an unspoken guarantee by the government to secure their investments.

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Bank of the West Closing Local Site: Midtown Bank is Closing Due to Crowded Market, Spokesman Says.

Tue, 15 Sep 2009 14:49:00 GMT

Sep. 15--Bank of the West, citing a crowded local market, will close its lone Pueblo branch on Dec. 4, a bank spokesman said Monday.
The building previously housed a Community First Bank branch and, prior to 1998, a Banc One branch.
The branch employs five people.

[More...]

Bank of the West to Close Branch

Fri, 07 Aug 2009 07:48:00 GMT

Aug. 7--LAS CRUCES -- Bank of the West plans to close its branch at 141 S. Roadrunner Pkwy.
"Absorbing the branch is the Telshor location, less than two miles away," Gentles said.
Area manager Brenda Allred said the company wants to assure customers that this is not a sign of trouble.

[More...]

Bank of the West to Close Roadrunner Branch

Fri, 07 Aug 2009 07:47:00 GMT

Aug. 7--LAS CRUCES -- Bank of the West plans to close its branch at 141 S. Roadrunner Pkwy.
"Absorbing the branch is the Telshor location, less than two miles away," Gentles said.
Area manager Brenda Allred said the company wants to assure customers that this is not a sign of trouble.

[More...]

Bank of the West to Close Roadrunner Branch

Fri, 07 Aug 2009 01:45:00 GMT

Aug. 6--LAS CRUCES -- Bank of the West plans to close its branch at 141 S. Roadrunner Pkwy.
"Absorbing the branch is the Telshor location, less than two miles away," Gentles said.
Area manager Brenda Allred said the company wants to assure customers that this is not a sign of trouble.

[More...]

Bank of West Losses Grow

Tue, 04 Aug 2009 13:48:00 GMT

Aug. 4--Bank of the West reported a $143.1 million loss for its second quarter of 2009, extending a sour year for the San Francisco-based bank.
The loss for the Bank of the West, which has a major corporate and employment presence in the East Bay, was driven to a great extent by the company setting aside significant sums to cover losses on bad loans.
The $143.1 million loss for the quarter that ended in June comes on top of $85 million in losses that Bank of the West reported for its first quarter of 2009 ending in March.

[More...]

BNP Paribas Completes Acquisition of Bank of America's Equity Prime Brokerage Business - Oct 1 2008 11:32AM

Wed, 01 Oct 2008 15:23:00 GMT

BNP Paribas is pleased to announce it has completed the acquisition of Bank of America’s equity prime brokerage business. The equity prime brokerage business provides a wide range of services to hedge funds and mutual funds. We believe it is a low risk, low capital consumption, service oriented business.[More...]

BNP Paribas Appoints Adnan Zuberi to Its Structured Credit Business in New York

Tue, 12 Aug 2008 16:54:00 GMT

BNP Paribas is pleased to announce the appointment of Adnan Zuberi as a Director on the Structured Credit desk in New York. He reports to Jerome Wong, Managing Director, Head of Credit Structuring, Americas.[More...]

BNP Paribas Appoints Sebastien Galy to Its Foreign Exchange Strategy Team in New York

Tue, 12 Aug 2008 15:01:00 GMT

BNP Paribas is pleased to announce the appointment of Sebastien Galy to its FX Strategy team in New York. Sebastian will head the FX research function covering global currency markets. He will provide foreign exchange solutions for BNP Paribas’ corporate, real and leverage-account client base. He reports functionally to Hans-Guenter Redeker, global head of foreign exchange strategy and regionally to Christian Mundigo, head of fixed income trading for the Americas.[More...]

BNP Paribas Appoints Carl Mason as Head of Equity Derivatives Strategy for the Americas

Wed, 16 Jul 2008 09:53:00 GMT

BNP Paribas is pleased to announce the appointment of Carl Mason as Head of Equity Derivatives strategy for the Americas. Carl will oversee the Equity Derivatives Strategy team based in the US which is responsible for producing cutting edge derivatives trading ideas and analysis for BNP Paribas’ institutional clients. Carl reports to Aaron Ford, Head of Institutional Sales, North America.[More...]

BNP Paribas Executed First Full DMA Order on India NSE

Tue, 15 Jul 2008 12:18:00 GMT

BNP Paribas Securities Asia today announces the successful execution of the first full Direct Market Access (“DMA”) order on the National Stock Exchange of India through its local JV partner Geojit Financial Services. It is the first brokerage house to offer full Direct Market Access execution.[More...]

BNP Paribas Expands Its Global Hedge Fund Relationship Management Team

Tue, 15 Jul 2008 09:06:00 GMT

BNP Paribas is pleased to announce the appointments of Thomas Mahala and Jason Miller to its global hedge fund relationship management team (HFRM). BNP Paribas now has over a dozen relationship management professionals located in New York, London and Hong Kong serving the interests of our global hedge fund clients.[More...]

BNP Paribas Appoints Adam Brodnicki and Andrew Miller to Its Foreign Exchange Team in New York

Mon, 23 Jun 2008 15:19:00 GMT

BNP Paribas is pleased to announce the appointments of Adam Brodnicki and Andrew Miller as directors in the New York Fixed Income team. Both join from Bear Stearns and will cover institutional and hedge fund clients for FX, Rate and Structured Products as well as all Emerging Market products from across the BNP Paribas global platform, including the Middle East, Asia, Eastern Europe and Latin America.[More...]

BNP Paribas Announces Appointment of Anthony Saracco to Its Energy & Natural Resources Corporate Finance Team

Mon, 16 Jun 2008 16:59:00 GMT

BNP Paribas is pleased to announce the appointment of Anthony Saracco as Vice President to its Energy & Natural Resources team within Corporate Finance in the Americas.[More...]

BNP Paribas Signs as Title Sponsor of 2008 Taste of Tennis

Mon, 16 Jun 2008 14:10:00 GMT

BNP Paribas, a European leader in global banking and financial services, today announced its involvement as the title sponsor of the 2008 Taste of Tennis in New York City (www.bnpparibastasteoftennis.com).The event, produced by AYS Sports Marketing and benefiting The Food Bank for New York City, is set for Thursday, August 21st, 7-10 pm at the W New York Hotel. The sponsorship, which will run from April 29, 2008 to December 31, 2008, will make BNP Paribas the only title sponsor for the star studded event. This year’s lineup includes tennis superstars Andy Roddick, Jelena Jankovic, Lleyton Hewitt, Robby Ginepri, along with acclaimed chefs and food personalities such as Alfred Portale and John Delucie.[More...]

BNP Paribas Acquires Bank of America's Equity Prime Brokerage Business and Becomes a Leading Prime Broker in the USA

Tue, 10 Jun 2008 19:40:00 GMT

BNP Paribas is pleased to announce it has signed a definitive agreement to acquire the equity prime brokerage business of Bank of America. The transaction is subject to regulatory approval with completion expected in the second half of 2008. The transaction will involve the transfer of client relationships, employees and technology systems.[More...]