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Bank On HSBC Holdings (NYSE: HBC) And The Asian Equation

Wed, 04 Nov 2009 20:03:20 GMT

“Go west, young man, go west!” Written by Indiana journalist John Soule in 1851 and popularized by New York Tribune founder Horace Greeley the same year, that now-famous saying advised people to take advantage of the rapid growth in the United States as the country expanded westward across the North American continent.[More...]

What Investors Should Look for In Today’s Fed Statement

Wed, 04 Nov 2009 13:04:24 GMT

In its continuing efforts to nurture the fragile economic recovery, the U.S. Federal Reserve is widely expected to leave interest rates at record lows when it concludes its meeting today (Wednesday).[More...]

Does Ben Bernanke Have The Facts Right On Banking?

Fri, 30 Oct 2009 08:09:46 GMT

Ben Bernanke, chairman of the Federal Reserve, has stayed carefully on the sidelines while a major argument has broken out among and around senior policymaking circles: Should our biggest banks be broken up, or can they be safely re-regulated into permanently good behavior? (See the recent competing answers from WSJ, FT, and the New Republic).[More...]

More Japan Passing: Tokyo No Longer a Major Financial Center

Fri, 30 Oct 2009 07:46:46 GMT

A Bloomberg survey of 1,452 users reveals that the leading financial centers in the eyes of Bloomberg users is New York (29%), Singapore (17%), London (16%) and Shanghai (11%), while only 1% named Tokyo. London is slipping because of a 50% tax rate on higher earnings and impending EU regulations on hedge fund borrowing, while Japan has all but fallen off the radar screen.[More...]

All-Time High For Amazon (AMZN) Has Option Traders Raising The Bar

Mon, 26 Oct 2009 21:22:11 GMT

Today's tickers: AMZN, MU, ETH, AMR, WYN, TBT, BAC, PCS, DE, ING, RSH & BCRX[More...]

Daily Highlights: 10/26/09

Mon, 26 Oct 2009 13:02:47 GMT

Asian shares were mostly higher Monday with S.Korean shares helped by upbeat economics.Bank failures in US exceed 100 for this year, most closings since 1992.China's September coal imports increase 7% from August as economy recoversOil prices slipped to near $80 a barrel in AsiaDollar falls versus Euro as recovery signs, stock gains sap safety demand.Japan to punish BNP Paribas's unit over convertible bond, share price manipulation.Japan's PM Hatoyama says recovery 'unpredictable,’ unemployment may worsen.S Korea's Q3 GDP rises 2.9% - fastest quarterly pace in more than seven years.SEC considering filing securities fraud charges against ICAP's US subsidiary.[More...]

Daily Highlights: 10/7/09

Wed, 07 Oct 2009 13:11:54 GMT

Asian stocks gain on commodity prices; Newcrest advances on record gold prices.ECB little reason to raise rates over next 12 months because of a muted inflation outlook: IMF.Fed should increase interest rates 'sooner rather than later,' Hoenig says.[More...]

Daily Highlights: Sept 8, 2009

Tue, 08 Sep 2009 13:12:00 GMT

Asian markets were mostly higher Tuesday; Taiwan up 1.2% on Cabinet reshuffle.China plans to offer 6B yuan ($879M) of government bonds in Hong KongChina showcases commercial jet at Asia air showChina 2009 vehicle sales may rise 28% on stimulus, probably surpassing US.ECB says significant contraction in euro-zone economy has ended; rates unchanged.G-20 finance chiefs propose banks curb bonuses, increase capital holdings.[More...]

Market Closing: Modest Gains, But Late Surge Lands Averages At Day Highs

Thu, 03 Sep 2009 20:25:00 GMT

A late surge leaves the major stock averages up just shy of 1%. Stocks managed to cling to modest gains throughout light-volume trading, halting four sessions of declines. Consolidation continues and volume remains modest ahead of Friday morning's August jobs report and the long holiday weekend.[More...]

Pre-Market: ETF Preview: Gold Charge Continues, Financials Rebound

Thu, 03 Sep 2009 12:49:16 GMT

Major market ETFs, including the SPY, DIA, UYG and others, are firmer. Stocks look to start the day higher after four straight declines. Wall Street is looking ahead to Friday's employment report and the long weekend. The European Central Bank left its benchmark lending rate unchanged at 1% as expected today.[More...]

British banks bow to commission

Fri, 06 Nov 2009 07:49:00 GMT

The European Commission's demand that Royal Bank of Scotland and Lloyds sell assets will be closely watched, writes MARK HENNESSY , London Editor
HUNDREDS OF bank branches throughout the UK, along with insurance businesses and credit card payment operations belonging to Royal Bank of Scotland (RBS) and Lloyds Banking Group will go under the hammer over the next four years.
The question that may exercise top executives in AIB and Bank of Ireland now is what attitude commissioner Kroes will take when finally she sits down to decide on their restructuring plans.

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POLITICS OF MARKETING: Marketers will shape face of high street banking

Thu, 05 Nov 2009 13:48:00 GMT

The arrival of significant new entrants to the UK retail banking market will serve up a bean feast for the marketing community
Capitalising on the implosion in financial services marketing after the credit crunch, it has been trying to persuade young marketers that their future lies not in being the overpaid chief of "flower-arrangement" at some retail bank, but in packaged goods, the motherland of marketing.
Indeed, in a reshaped financial landscape, it is precisely marketing that may give a new set of players the edge.

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Banker caught between a rock and a hard place

Thu, 05 Nov 2009 05:49:00 GMT

ANALYSIS: THE TIMING of Bank of Ireland's financial year end (March 31st) has again put the bank in a difficult position of facing questions that any bank would struggle to answer at a time of continued uncertainty and volatility, writes SIMON CARSWELL
The bank is the only domestic lender reporting results in the period from the announcement on September 16th of the average "haircut" on loans bound for Nama (National Asset Management Agency) and the end of this calendar year.
Given that Nama is still under construction with many more floors yet to be built, Bank of Ireland remains in the dark on a plethora of crucial issues that will determine its future, whether it needs more capital and whether that cash can be raised from shareholders or whether the bank will have to turn to the State again.

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Who might replace Ken Lewis? The list keeps growing

Tue, 03 Nov 2009 21:06:00 GMT

Nov. 3--Is Bank of America actually vetting outside candidates to be chief executive, or it just trying to create the appearance of doing so?
In a regulatory filing, Finger Interests Ltd. urged the bank's board not to appoint Brian Moynihan or Greg Curl, two current executives at the bank who have been seen as frontrunners for the CEO's job, which Ken Lewis will give up at the end of the year.
Without giving details, Finger Interests said it has confirmed that the board has "not even contacted or made serious inquiries much less offers to the most qualified and obvious candidates," such as Al de Molina or Jim Hance.

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ING Group Reaffirms Commitment to TMB Bank

Fri, 30 Oct 2009 22:47:00 GMT

Oct. 30--ING Group has affirmed its investment and business support in TMB Bank because it sees high growth potential in Thailand.
Boontuck Wungcharoen, TMB Bank's CEO, said the bank received confirmation from the Dutch financial group, TMB's major shareholder with a 26.41 percent stake, that it would invest and support the bank's business operations.
ING will focus on financial business investment mainly in China, India and Thailand as areas with growth potential.

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Northern Rock to Be Split Up in Wake of Ruling By Commission

Thu, 29 Oct 2009 07:56:00 GMT

NORTHERN ROCK will be broken up and parts of the business sold off after the European Commission yesterday waved through a radical restructuring of the nationalised British bank.
The commission said Northern Rock's plan to split into two - in effect creating a "good" and a "bad" bank - was compatible with state-aid rules.
The competition authorities in Brussels have been looking closely at a number of European banks to assess whether the extensive government support they received at the height of the financial crisis has given them an unfair advantage.

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Evening Standard, London, Market Report Column

Wed, 28 Oct 2009 19:50:00 GMT

Oct. 28--There was no let-up for the banks this morning as they came under fresh selling pressure in the wake of the EU's insistence that the Dutch state-aided bank ING must be split in two.
Both have received billions of pounds in government aid with the taxpayer now owning 43 percent of Lloyds and 70 percent of RBS. Investors fear the EU may force Lloyds to divest itself of mortgage lender Halifax, which it bought earlier this year as part of HBOS.
The share prices of both banks remain underwater with the taxpayer only starting to break even on its investment when the Lloyds price hits 122.6p and RBS 50.5p.

[More...]

A look at economic developments around the globe

Mon, 26 Oct 2009 19:48:00 GMT

A look at economic developments and activity in major stock markets around the world Monday:
AMSTERDAM - European financial services giant ING Groep NV said it will spin off its insurance arm to simplify its business and issue euro7.5 billion ($11.3 billion) in new shares to repay state bailout money.
Gross domestic product grew 2.9 percent in the three months ended Sept. 30 compared with the previous three months when it expanded 2.6 percent, the Bank of Korea said.

[More...]

UPI NewsTrack Business

Fri, 23 Oct 2009 16:50:00 GMT

U.S. markets mixed Friday
NEW YORK, Oct. 23 (UPI) -- U.S. markets turned shaky Friday after a sharp climb in the previous session prompted by positive corporate reports.
On Friday morning, markets swung in different directions with technology stocks up while others fell.

[More...]

Britain's GDP Dropped in Third Quarter

Fri, 23 Oct 2009 13:51:00 GMT

The Office for National Statistics said Britain remained officially in a recession in the third quarter with the gross domestic product dropping 0.4 percent.
The six straight quarters of economic contraction makes the current recession the longest since the quarterly GDP figures were tracked in 1955, the British Broadcasting Corp. reported Friday.
Economists had expected growth of about 0.2 percent, despite slow retail sales and a decline in industrial output of 2.5 percent in August.

[More...]

Lightyear Capital to Acquire ING Advisor Network

Tue, 03 Nov 2009 07:48:00 GMT

Lightyear Capital LLC ("Lightyear"), a New York-based private equity firm focused on financial services investing, today announced that an affiliate of Lightyear Fund II, L.P. has signed a definitive agreement to acquire the ING Advisor Network and three of ING Advisor Network's five broker-dealers, including: Financial Network Investment Corporation ("Financial Network"), Multi-Financial Securities Corporation ("Multi-Financial") and PrimeVest Financial Services Inc. ("PrimeVest").
Valerie Brown, Chief Executive Officer of ING Advisor Network, will remain in her position and continue to lead the business post acquisition.
"This is a great investment for Lightyear," said Donald B. Marron, Chairman and Chief Executive Officer of Lightyear.

[More...]

ING Clarion Global Real Estate Income Fund "IGR" Declares Monthly Distribution for October

Fri, 09 Oct 2009 13:49:00 GMT

Ex-Dividend Date Record Date Payable Date October 2009 10-20-2009 10-22-2009 10-30-2009
IGR's current distribution rate represents an annualized yield of 8.4% based on the closing market price of $6.45 on October 7, 2009 and a 7.6% yield on a closing NAV of $7.07 as of the same date.
Future earnings of the Fund cannot be guaranteed and the Fund's dividend policy is subject to change.

[More...]

ING Clarion Real Estate Income Fund "IIA" Declares Monthly Distribution for September

Mon, 14 Sep 2009 21:49:00 GMT

Ex-Dividend Date Record Date Payable Date September 2009 09-22-2009 09-24-2009 09-30-2009
IIA's current distribution rate represents an annualized yield of 10.44% based on the closing market price of $5.17 on September 10, 2009 and a 9.6% yield on a closing NAV of $5.60 as of the same date.
ING Clarion Real Estate Income Fund is a closed-end fund, which is traded on the New York Stock Exchange, which invests primarily in real estate securities.

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The Securities Law Firm of Klayman & Toskes Files Arbitration Claim Against Merrill Lynch Seeking Damages of $5,000,000 on Behalf of Couple Whose Collateral Account Was Over-Concentrated in Preferred Financial Stocks

Wed, 19 Aug 2009 16:45:00 GMT

BOCA RATON, Fla., Aug. 19 /PRNewswire/ -- The Securities Law Firm of Klayman & Toskes ("K&T"), www.nasd-law.com, announced today that it filed a securities arbitration claim against Merrill Lynch (NYSE: MER) on behalf of a couple, seeking damages of $5,000,000 as a result of unsuitable investment recommendations.
The investors, residents of the Bahamas, held accounts with Merrill Lynch's Boca Raton, Florida branch office where they granted their Merrill Lynch financial advisor discretionary authority to manage their accounts.
The suit was filed with the Financial Industry Regulatory Authority's (FINRA) Department of Arbitration.

[More...]

ING Clarion Global Real Estate Income Fund "IGR" Declares Monthly Distribution for August

Fri, 14 Aug 2009 19:48:00 GMT

Ex-Dividend Date Record Date Payable Date August 2009 08-24-2009 08-26-2009 08-31-2009
IGR's current distribution rate represents an annualized yield of 8.8% based on the closing market price of $6.12 on August 12, 2009 and a 8.3% yield on a closing NAV of $6.52 as of the same date.
Future earnings of the Fund cannot be guaranteed and the Fund's dividend policy is subject to change.

[More...]

BenchmarkJournal.Com Free Analyst Review for ABC, LHO, ING, BBI, HEB and FMC

Wed, 12 Aug 2009 12:09:00 GMT

Benchmark Journal brings independent company and sector research together, utilizing top financial advisors and investment tactics to provide you with a clear picture of investment opportunities.
Today we began research on AmerisourceBergen Corporation (NYSE: ABC), LaSalle Hotel Properties (NYSE: LHO), ING GROUP NV ADS (NYSE: ING), Blockbuster Inc. (NYSE: BBI), Hemispherx Biopharma Inc. (NYSE Amex: HEB) and FMC Corp. (NYSE: FMC).
To view our research, sign up now and get started with your complimentary subscription.

[More...]

ING Posts 2Q Underlying Net Profit of EUR 229 Million

Wed, 12 Aug 2009 05:48:00 GMT

However, sales of investment-linked products remained subdued as customers awaited a sustained market rally or opted for traditional life products," said Jan Hommen, CEO of ING.
The uptick in equity markets led to a reversal of some of the DAC unlocking seen in the fi rst quarter, but was more than offset by negative results on hedges to preserve regulatory capital.
2009 Second Quarter Results ING Group: http://www.ing.com/cms/idc_cgi_isapi.dll?IdcService=GET_FILE&dDocName=404946_EN&RevisionSelectionMethod=latestReleased

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Recruitment Strong at Broker-Dealers of ING

Wed, 05 Aug 2009 12:56:00 GMT

Recruiting across the broker-dealers of ING, which include Financial Network, ING Financial Partners, Multi-Financial and PrimeVest, remains strong through the first half of 2009. Through June 2009, ING's network of broker-dealers reported that recruited GDC has already surpassed its benchmark and is on pace to exceed its annual goal, despite the ongoing market turbulence and ING's publicly stated strategic review of its broker-dealer businesses. This inflow of GDC and talent has come from a variety of channels including wirehouses, financial institutions, and other independent broker-dealers.[More...]

ING Marks One-Year Anniversary of CitiStreet Deal

Wed, 29 Jul 2009 18:25:00 GMT

This month, ING marked the one-year anniversary of its acquisition of CitiStreet LLC, a $900 million deal which significantly expanded ING's footprint in the retirement industry and confirmed the company's status as a premier defined contribution plan provider and recordkeeper in the U.S.[More...]

ING Creates Interactive Online Education Tool About Life Insurance

Wed, 22 Jul 2009 14:01:00 GMT

The ING Life Companies have unveiled a new, interactive online tool that aims to make it easier for American consumers to learn about life insurance. Dubbed ING for Life, the online tool walks consumers through an education process to help them determine the type of life insurance product and estimated amount of life insurance that best fits their personal situation. 'America's middle class is underinsured, yet they are probably the population that needs life insurance the most,' said ING U.S. Insurance CEO Butch Britton. 'ING for Life breaks down some of the barriers to learning about and obtaining life insurance by making it easy to get education at their convenience, without pressure or time constraints.'After completing the research and education process, the site offers users the opportunity to move to the buying process. With a few clicks of a mouse, users can get life insurance quotes and connect to a licensed life insurance agent that will help them complete a life insurance application.For insurance professionals and brokerage agencies, ING for Life creates an opportunity for firms to efficiently reach middle-income consumers. With co-branded URL addresses, firms can utilize the tool to generate ready-to-buy customers . Firms not designed to handle significant application fulfilment can utilize an ING-approved fulfilment center to respond to consumer questions and complete the sales process.ING not new to web-based tools and technologyING is no stranger to leveraging unique and user-friendly, web-based technology for its consumers. In March, ING introduced a free web tool www.INGCompareMe.com that makes it possible for anyone to see where they stand in relation to others on a wide range of saving, spending, investing, debt and personal finance matters. In April, ING rolled out the second phase of its award-winning, integrated marketing campaign focused on one's retirement number. The campaign includes ING's pioneering site, www.INGyournumber.com, which features an easy-to-use tool for visitors to calculate their number.Consumers interested in learning about life insurance should visit www.ingforlife.com. Insurance professionals interested in the ING for Life marketing program, should contact their ING representative, or contact Kay Eller, director of ING Retail Life business development, at katherine.eller@us.ing.com or 541-3181.About INGING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries. With a diverse workforce of about 115,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.In the U.S., the ING family of companies offer a comprehensive array of financial services to retail and institutional clients, which includes life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves nearly 30 million customers across the nation. For more information, visit www.ing.com/us.[More...]