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Has The Sun Set On Dubai World?

Mon, 30 Nov 2009 14:00:13 GMT

Dubai World once claimed ‘The Sun Never Sets on Dubai World’. Royal Bank of Scotland (RBS), HSBC (HBC), Barclays (BCS), Lloyds Banking Group (LYG), Standard Chartered and ING Groep (ING) would want to believe/or their investors believe that the Sun never sets on Dubai World.[More...]

Winners And Losers Among International Banks

Fri, 20 Nov 2009 21:12:58 GMT

We think the significant divergence among international banks during the last two years will extend into the recovery.[More...]

Street Bracing For Sharp Downside At Open - Buffett Making Bet On Economy With BNSF Rail Purchase

Tue, 03 Nov 2009 13:16:58 GMT

U.S. stock futures continue to point to a sharply lower open Tuesday. An Australian interest-rate hike is seen as a sign of more tightening to come around the globe, the timing of which will be crucial in keeping the recovery on track. European banking declines weighed on markets there and are likely to pressure their U.S. counterparts. Some shares have improved. Rail deal news was a supportive factor.[More...]

ETF Preview: Transportation Funds Get Boost From BNI Deal - Banking Funds Drop On European News

Tue, 03 Nov 2009 12:52:36 GMT

Major market ETFs, including the SPY, DIA, UYG and others, are lower in reaction to sharp downside futures trading. European banking declines are weighing on financial markets. An Australian interest-rate hike is seen as a sign of more tightening to come around the globe, the timing of which will be crucial in keeping the recovery on track.[More...]

US Stock Futures Jump After Jobs Report, AIG (NYSE: AIG) Eyed

Fri, 07 Aug 2009 13:05:00 GMT

US stock futures retreated on Friday after a government release showed that the economy shed a smaller than expected 247,000 jobs in July.[More...]

Four Ways To Profit If Bernanke’s ‘Exit Strategy’ Ignites An Inflationary Firestorm

Fri, 24 Jul 2009 14:03:32 GMT

After more than a year of lax monetary policy and direct capital infusions, U.S. Federal Reserve Chairman Ben S. Bernanke has finally outlined an "exit strategy" that he says will lead to the "smooth and timely" withdrawal of monetary stimulus and keep in[More...]

Lenders Set To Scuttle Continental - Shaeffler Merger; Lawsuits Will Follow

Wed, 24 Jun 2009 17:03:22 GMT

The second most favorite German soap opera on Zero Hedge (just after the Volkswagen - Porsche melodrama) looks set for a second season. Bloomberg reporting that lenders who hold half of Conti's humongous €11 billion debt load. It's funny it took lenders only about a year to get their case of buyer's remorse sufficiently well crystallized. Now if only Deutsche Bank could be sued in some fashion for half a billion dollars for breaching something or another, it would be a perfect case study of investment banking in the 21st century, where investment banks make their clients richer by i) reneging on contractual financing or otherwise obligations and ii) paying exorbitant settlement amounts (while filing 8-K how the steep curve is a blessing and everyone will soon be a billionaire... if only those pesky consumers were to start borrowing again). From Bloomberg:[More...]

GGP LCDS Auction In Process

Wed, 13 May 2009 16:23:36 GMT

The General Growth Properties LCDS auction is currently ongoing, and just finished the Initial Bidding Period. The results will be posted in about 6 minutes, eventually followed by a final Dutch auction bidding process at 2 pm. The reason this is relevant as it could provide a significant repricing and valid market test of secured obligations in the CRE market. The participating bidders in the auction is provided below (they will hopefully work not only on behalf of their prop desk but for their clients as well). Bank of America, N.A. Barclays Bank PLC Citibank Global Markets Inc. Credit Suisse International Deutsche Bank AG Goldman Sachs Loan Partners J.P. Morgan Securities Inc. Morgan Stanley Senior Funding, Inc. The Royal Bank of Scotland PLC UBS Securities LLC Zero Hedge will be following this auction very[More...]

Are Europe’s Banks Next To Be Stressed?

Mon, 11 May 2009 17:09:03 GMT

Now that the results of the U.S. bank stress tests are finally in the books, the extent of the capital shortfalls are known and – in many cases – are actually being addressed.[More...]

Wall Street Surges On Payroll Data, JP Morgan (NYSE: JPM) Rallies

Fri, 08 May 2009 22:44:00 GMT

US stocks extended gains on Friday as investors welcomed economic data that fueled hopes of a strong recovery. Shares also rallied as stress test results boosted sentiment.[More...]

Evening Standard, London, market report column

Fri, 04 Dec 2009 16:48:00 GMT

Dec. 4--The bear market will be back at the end of next year.
That's the verdict of Credit Suisse, which today issued a bleak warning to investors of further pain ahead, particularly in the UK.
In its 2010 equity strategy note, the Swiss banking heavyweight predicted shares will suffer across the globe late next year as a government bond funding crisis unfolds.

[More...]

Daily Mail, London, market report column

Fri, 04 Dec 2009 15:45:00 GMT

Dec. 4--Rightmove tumbled 10pc after it emerged the powerful Google could soon be traipsing on its patch.
The search engine giant is said to be considering a launch into the UK online property market next year.
Given Google's success in the search engine business, investors were evidently shaken by concerns that its potential entry into the British online property market could rock Rightmove's business.

[More...]

Daily Mail, London, market report column

Fri, 04 Dec 2009 01:45:00 GMT

Dec. 3--If you had bought shares in Amec following Samir Brikho's appointment as chief executive in October 2006, you would now be laughing all the way to the bank.
Vision 2015 will likely produce better margin targets and focus on earnings and volume growth.
Keith Morris, analyst at Evolution Securities, lifted his target price to £9 from 850p.

[More...]

Evening Standard, London, market report column

Thu, 03 Dec 2009 18:48:00 GMT

Dec. 3--Commodity stocks should keep rising next year, but the best is behind the financials.
That's the opinion of Goldman Sachs, whose strategy suggestions for 2010 were being circulated in the City today.
Shares in London rose, with the FTSE putting on 30.71 points to 5358.10 as the banks bounced back from yesterday's losses.

[More...]

Alwaleed says banks should have foreseen Dubai crisis

Wed, 02 Dec 2009 18:46:00 GMT

Dec. 2--Prince Alwaleed bin Talal reckons banks which are fearful they have lost money from making loans to Dubai have only themselves to blame.
"These banks are very mature banks, and they have to differentiate between a corporate loan and a sovereign loan," Alwaleed, 54, said in an interview on Bloomberg Television.
"When things go sour, you can't have some banks in the West going to Dubai and saying 'oops' and, 'You should have guaranteed those loans.""

[More...]

Evening Standard, London, Anthony Hilton column

Tue, 01 Dec 2009 16:48:00 GMT

Dec. 1--If the British public were polled and asked whether they thought an American company should be allowed to take over Cadbury, they would be most likely to vote against.
If customers were asked whether they would prefer an independent Cadbury to one that is part of a US food conglomerate like Kraft, they would probably vote for its continuing independence.
A politician, asked if it was right that Hershey, a possible rival bidder which is smaller than Cadbury, should be allowed to bid for it when Cadbury would be blocked by its controlling charitable trust if it tried to take over Hershey, would mumble about the need for reciprocity while sitting firmly on the fence.

[More...]

Daily Mail, London, market report column

Tue, 01 Dec 2009 16:47:00 GMT

Dec. 1--Eighteen months ago Oracle, the world's largest enterprise software company, had a good look at Intec Telecom Systems and then walked away.
The Woking-based telecoms billing software group still has international admirers.
Last month it reported sparkling annual results which moved Investec to upgrade its 2010 pre-tax profit forecasts by 2pc to £29.5m.

[More...]

Evening Standard, London, market report column

Mon, 30 Nov 2009 19:48:00 GMT

Nov. 30--Britain's biggest landlords will suffer a nasty hangover next year.
That's the verdict of HSBC which warned today that the commercial property sector will suffer a "double-dip correction", with rents falling further as the number of empty shops and offices climbs, business rates rise and demand from new occupants remains weak.
HSBC says Liberty International, 9p cheaper at 473p, and Derwent London, 28p lower at 1274p, will be hardest hit.

[More...]

Cultural shift in Dubai is likely to pain banks

Sun, 29 Nov 2009 17:49:00 GMT

Nov. 29--Standard Chartered is one UK bank that managed to avoid the pitfalls of lending too much money here or getting involved in the US loans bonanza that went so wrong.
But last week a palm-shaped shadow was cast over the group when Dubai called for a moratorium on debt repayments by the state-owned Dubai World.
While a pause for thought allowed the markets to make a calmer appraisal, there is no doubt that more turbulence is to come, simply because the full ramifications of the Dubai statement are so unclear.

[More...]

Kraft rounds up banks to help Cadbury bid

Tue, 24 Nov 2009 22:46:00 GMT

Nov. 24--(Dow Jones)--As rivals weigh whether to top Kraft Food Inc.'s GBP9.9 billion ($16.5 billion) offer for Cadbury PLC, they are confronting an unusual situation: Kraft has extracted exclusivity agreements from the banks it is using to finance its bid, leaving contenders with few other banks to choose from.
Northfield-based Kraft, which made a hostile offer for Cadbury on Nov. 9, is being advised by Lazard and has secured a GBP5.5 billion bridge loan from a group of nine banks lead by Citigroup Inc., Deutsche Bank AG and HSBC Holdings PLC and including BNP Paribas SA, Barclays Capital, Royal Bank of Scotland Group PLC as well as Credit Suisse, Societe Generale SA and Banco Bilbao Vizcaya Argentaria SA.
The lead banks have cast the net even further and the number of banks financing Kraft's bid could grow to 18, a person familiar with the matter said earlier this month.

[More...]

Zacks Analyst Blog Highlights: Signet Jewelers Limited, American Public Education, Inc., 3M, Royal Bank of Scotland and MetLife, Inc.

Fri, 27 Mar 2009 10:55:00 GMT

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: Signet Jewelers Limited (NYSE: SIG), American Public Education, Inc. (NASDAQ: AEPI), 3M (NYSE: MMM), Royal Bank of Scotland (NYSE: RBS) and MetLife, Inc. (NYSE: MET).

[More...]

Zacks Bull & Bear of the Day Highlights: Sempra Energy, SLM Corp., The Royal Bank of Scotland, Wendy's/Arby's and Cosan Limited

Tue, 03 Mar 2009 13:47:00 GMT

Zacks Equity Research picks Sempra Energy (NYSE: SRE) as Bull of the Day and SLM Corp. (NYSE: SLM) as Bear of the Day.
In addition, the analysts at Zacks Equity Research discuss the latest on The Royal Bank of Scotland (NYSE: RBS), Wendy's/Arby's (NYSE: WEN) and Cosan Limited (NYSE: CZZ).
Full analysis of all these stocks is available at: http://at.zacks.com/?id=2678

[More...]

Securities Law Firm of Tramont Guerra &Amp; Nunez, PA Makes Announcement to All Royal Bank of Scotland Group, PLC - Preferred Series R Investors

Fri, 27 Feb 2009 20:46:00 GMT

The Securities Law Firm of Tramont Guerra & Nunez, PA (TGN) makes an announcement to all Royal Bank of Scotland Group PLC (RBS), 6.125% Series R, Non-cumulative Dollar Preference (NYSE: RBS-PR) shareholders who are prospective class members of a class action lawsuit filed in the United States District Court for the Southern District of New York on February 20, 2009.
The Royal Bank of Scotland Group PLC, (NYSE: RBS) and major Wall Street firms were named parties to the class action lawsuit.
Prospective class members need to determine which legal process is more suitable for them to recover investment losses, a class action lawsuit or an individual securities arbitration claim filed with the Financial Industry Regulatory Authority, (FINRA).

[More...]

Securities Law Firm of Tramont Guerra & Nunez, PA Makes Announcement to All Royal Bank of Scotland Group, PLC - Preferred Series R Investors

Fri, 27 Feb 2009 20:02:00 GMT

CORAL GABLES, FL -- -- 02/27/09 -- The Securities Law Firm of Tramont Guerra & Núñez, PA makes an announcement to all Royal Bank of Scotland Group PLC , 6.125% Series R, Non-cumulative Dollar Preference shareholders who are prospective class members of a class action lawsuit filed in the United States District Court for the Southern District of New York on February 20, 2009. The Royal Bank of Scotland Group PLC, and major Wall Street firms were named parties to the class action lawsuit. The Co-managers of the securities underwriting, who were named parties included; Citigroup Global Markets , Morgan Stanley & Co. , UBS Securities, LLC and Wachovia Capital Markets, LLC. The class action lawsuit alleges that RBS and the major Wall Street firms who were underwriters of the Preferred stock offering solicited investors by means of a prospectus which contained 'material misstatements and omissions.' At the time the prospectus was issued, RBS was suffering from adverse business conditions which were not disclosed. Prospective class members need to determine which legal process is more suitable for them to recover investment losses, a class action lawsuit or an individual securities arbitration claim filed with the Financial Industry Regulatory Authority, .[More...]

The Pomerantz Law Firm is Filing Claims On Behalf of Investors in The Royal Bank of Scotland Group plc's Series R Shares -- RBS

Fri, 20 Feb 2009 23:02:00 GMT

Pomerantz Haudek Block Grossman & Gross LLP is filing a class action lawsuit in the United States District Court for the Southern District of New York on behalf of investors who purchased 6.125% Series R Non-cumulative Dollar Preference Shares offered to the public by The Royal Bank of Scotland Group plc in December 2006 and purchased any time thereafter. The lawsuit names as defendants RBS, The Royal Bank of Scotland plc , RBS senior officers and directors, and underwriters of the Series R Shares.[More...]

Gardy & Notis, LLP Files Class Action Lawsuit Against The Royal Bank of Scotland Group PLC -- RBS

Thu, 19 Feb 2009 18:46:00 GMT

Gardy & Notis, LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of The Royal Bank of Scotland Group PLC American Depository Shares pursuant to and/or traceable to a false and misleading Registration Statement and Prospectus issued in connection with RBS's June 2007 initial public offering of Non-cumulative Dollar Preference Shares, Series S .[More...]

Murray, Frank & Sailer LLP Investigating Claims against Royal Bank of Scotland Group, plc, Concerning Series R and Series U Preferred Stock

Sat, 07 Feb 2009 02:55:00 GMT

Murray, Frank & Sailer LLP is conducting an investigation of the Royal Bank of Scotland Group, plc (“RBS”) (NYSE:RBS), regarding the claims of purchasers and acquirers of: 1) RBS Series “R” 6.125% Preferred Stock (CUSIP 780097747; Google Finance: RBS-PR; Yahoo! Finance: RBS-R) pursuant to the December 13, 2006 public offering; and/or 2) RBS Series “U” 7.64% Preferred Stock (CUSIP 780097697) pursuant to the September 25, 2007 public offering. The investigation concerns violations of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 through the issuance of a materially false and misleading registration statement, prospectuses, and other documents. These documents failed to disclose risks that: 1) RBS’s exposure to the sub-prime mortgage market was understated in violation of Generally Accepted Accounting Principles (“GAAP”); 2) RBS’s risk control systems did not function properly; 3) as a result of such exposure, RBS would be forced to take write-downs; 4) such write-downs would substantially decrease RBS’s capital levels; and 5) this would force RBS to accept a bailout by the British government. As these events occurred, the price of RBS securities plummeted.[More...]

Murray, Frank & Sailer LLP Announces Class Action Lawsuit Against Royal Bank of Scotland Group plc.

Sat, 31 Jan 2009 02:55:00 GMT

Murray, Frank & Sailer LLP has filed a class action complaint, in the United States District Court for the Southern District of New York, against Royal Bank of Scotland Group plc (“RBS”) (NYSE:RBS), certain of its officers and directors, and its underwriters, on behalf of a class of: 1) purchasers or acquirers of RBS Series “Q” 6.75% Preferred stock pursuant to the May 18, 2006 public offering; and/or 2) purchasers or acquirers of RBS Series “T” 7.25% Preferred stock pursuant to the September 20, 2007 public offering.[More...]

Girard Gibbs LLP Files Class Action Lawsuit Filed Against Royal Bank of Scotland Group PLC (NYSE:RBS) (Series T ADS)

Fri, 30 Jan 2009 12:58:00 GMT

The law firm of Girard Gibbs LLP (http://www.girardgibbs.com/rbs.asp) has filed a class action lawsuit on behalf of purchasers of The Royal Bank of Scotland Group plc ("RBS") (NYSE:RBS) Series T American Depositary Shares ("ADSs"). These shares were issued in connection with RBS’s September 20, 2007 initial public offering of 58 million Series T ADSs (also referred to as “Non-cumulative Dollar Preference Shares”) pursuant to a false and misleading registration statement, prospectus and prospectus supplement (collectively, the “Registration Statement”).[More...]

Faruqi & Faruqi, LLP Announces Filing of Class Action Lawsuit Against The Royal Bank of Scotland Group PLC -- RBS

Tue, 27 Jan 2009 20:29:00 GMT

Notice is hereby given that a class action lawsuit was commenced in the United States District Court for the Southern District of New York on behalf of all purchasers of The Royal Bank of Scotland Group PLC American Depository Shares pursuant and/or traceable to a false and misleading registration statement and prospectus issued in connection with the Company's June 2007 initial public offering of Non-cumulative Dollar Preference Shares, Series S .[More...]