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Lloyds To Raise 21 Billion Pounds In Biggest Rights Issue Ever

Tue, 03 Nov 2009 15:52:26 GMT

Lloyds are looking to avoid the embrace of government by going to existing shareholders to raise capital and sidestep the draconian break-up solution foisted upon RBS by Neelie Kroes. According to Bloomberg, this is the largest rights issue ever for a British company and equates to $34 billion.[More...]

Banks, Bucks, And Buffett

Tue, 03 Nov 2009 13:21:11 GMT

The recent wild ride on Wall Street continued yesterday as the Dow's swing of 181 points intraday definitely kept everyone on their toes. And while the focus in the market had been all about the earnings reports and whether or not Corporate America could deliver some top-line growth, it now appears that the focus has shifted to the charts of the dollar and the banks.[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...]

Bond Market Opening November 03 2009

Tue, 03 Nov 2009 12:57:19 GMT

Prices of Treasury coupon securities are posting robust gains in overnight trading. Risk aversion has risen from the dead as the dollar is rallying to 4 week highs and global equity markets are quaking. Futures market trading indicates that US markets. too, will open with sharp declines.[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...]

Market Closing: Major Averages Tumble, Traders Fret Over State of Consumer

Fri, 30 Oct 2009 21:15:00 GMT

The confidence traders exuded in Thursday's regular session evaporated on Friday as a twin bill of worrisome consumer data combined to sap bullish momentum.[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...]

Lorillard (NYSE:LO): UBS Raises Target To $100

Tue, 27 Oct 2009 13:17:47 GMT

Lorillard (NYSE:LO) is getting some surprisingly positive commentary from analysts this morning after yesterday'd hefty sell-off: - UBS is raising their target to $100 from $80 noting every stock has its role in a given portfolio. Investors own companies because they are best-in-class, others look for cash return/income stories and another type of investor looks for event driven ideas. Lorillard has all 3 of these traits. UBS believes Monday’s 7% (unwarranted) pull back offers many types of investors an opportunity to buy a best in class company that is a legitimate M&A candidate.[More...]

Big Cities, Big Opportunities

Fri, 23 Oct 2009 23:00:22 GMT

One of the biggest drivers of global infrastructure is the rapid rate of urbanization experienced in the developing world.[More...]

UBS Preview of Thursday’s Economic Data

Thu, 15 Oct 2009 13:02:01 GMT

Thursday preview: Manufacturing resurgent, tame CPI, falling claims? (1) After surging into positive territory in Aug and rising further in Sep, we forecast another relatively high reading in Oct for the current activity index in the Empire State manufacturing survey (UBSe 19.0, cons 17.3, after 18.9). We expect a similar pattern in the Philadelphia Fed measure (UBSe 14.0, cons 12.0, after 14.1) (2) New [More...]

Evening Standard, London, market report column

Sat, 07 Nov 2009 02:45:00 GMT

Nov. 6--Stock market investors were doing their best to look on the bright side today after the combined losses from Royal Bank of Scotland and British Airways reached £1.79 billion during the first six months of the year.
BA responded with a rise of 9p at 195 1/2p -- making it the best blue chip performer -- while Royal Bank of Scotland, which this week was promised a further £33.5 billion of taxpayers' money, put on 0.4p at 35.6p.
Citigroup sees a brighter future for Lloyds Banking Group, 1/2p better at 83 1/2p, now that the Government has given the UK's biggest mortgage lender the go-ahead to raise £21 billion of new capital.

[More...]

Two more arrests in Thai rumor case

Mon, 02 Nov 2009 14:01:00 GMT

Two more arrests in Thai rumor case[More...]

BOJ to End Some Emergency Financing Steps

Sat, 31 Oct 2009 16:49:00 GMT

Oct. 31--The Bank of Japan said Friday it will terminate some of the emergency financing measures it initiated after a global credit crunch took hold in late 2008 because the environment for corporate funding has since improved.
The central bank said it will halt outright purchases of corporate bonds and commercial paper from financial institutions at the end of December as scheduled, but will continue to offer unlimited 0.1 percent interest loans to banks with approved collateral through March 2010.
The BOJ said the decision at the one-day Policy Board meeting was made "to ensure financial market stability toward the end of the fiscal year."

[More...]

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...]

Market Crash Probed: Three Singled Out for Close Scrutiny

Fri, 23 Oct 2009 22:46:00 GMT

Oct. 23--Two foreign brokers -- Credit Suisse and UBS -- and a prominent Thai investor have come under special scrutiny for large trading transactions made last week on the Stock Exchange of Thailand.
The index, which closed at 692.72 points on Oct 15, rebounded to reach 731.61 at the close last Monday after doctors issued public statements that His Majesty's health was stable.
According to the SEC, short-selling volume totalled 461 million baht from Oct 7-13, of which one investor alone was responsible for 204 million.

[More...]

US Airways' Q3 Loss Drops, but Delta's Rises

Fri, 23 Oct 2009 10:05:00 GMT

Oct. 23--US Airways Group Inc. said yesterday that its third-quarter loss narrowed compared with a year earlier.
But Delta Air Lines Inc., the world's largest carrier, reported a wider third-quarter loss of $161 million, or 19 cents a share, compared with a loss of $50 million, or 13 cents a share, in the same period a year earlier.
Revenue for Delta, which merged with Northwest Airlines Corp. in October 2008, was $7.57 billion for the three months ended Sept. 30, compared with combined revenue for the two carriers in the same quarter a year earlier of $9.53 billion.

[More...]

UPI NewsTrack Business

Sat, 17 Oct 2009 13:56:00 GMT

UPI NewsTrack Business[More...]

UBS bailout deemed success by Swiss

Sat, 17 Oct 2009 13:33:00 GMT

UBS bailout deemed success by Swiss[More...]

Tax amnesty deadline looms

Tue, 13 Oct 2009 20:20:00 GMT

Tax amnesty deadline looms[More...]

KTAM Introduces Foreign Finance Fund

Tue, 13 Oct 2009 15:48:00 GMT

Oct. 13--Krung Thai Asset Management (KTAM) has launched a new foreign investment fund focused on the global financial sector.
The 2-billion-baht KTAM World Financial Services Fund (KT-Finance), on sale from today until Oct 27, will invest at least 80 percent of its assets in the Fidelity Global Financial Services Fund managed by Fidelity International.
The Fidelity Global Financial Services Fund invests in equities of banks, non-life and life insurers, real estate and financial services companies worldwide.

[More...]

UBS Reports a Third Quarter Loss of CHF 564 Million, Impacted By Accounting Charges of CHF 2,150 Million

Tue, 03 Nov 2009 05:47:00 GMT

USB: (NYSE:UBS)(SWX:UBSN):
Commenting on UBS's third quarter results, Group CEO Oswald J. GrÃ¼bel said: "In the last two quarters, we have been addressing the bank's most critical problems.
UBS reports a third quarter net loss attributable to UBS shareholders of CHF 564 million (CHF 1,402 million in second quarter), due to three substantial accounting charges.

[More...]

UBS announces conversion of Class A Non-Voting Shares into common shares

Fri, 07 Aug 2009 21:07:00 GMT

TORONTO, Aug. 7 /CNW/ - Unique Broadband Systems, Inc. (TSX Venture: UBS) (the "Company" or "UBS") announces that 2064818 Ontario Inc., a corporation wholly-owned by The Dolgonos 2005 Family Trust, has converted 11,305,332 Class A Non-Voting Shares of UBS into an equivalent number of common shares of UBS. To the knowledge of the Company, Mr. Dolgonos, as sole trustee of The Dolgonos 2005 Family Trust, retains voting control over these shares.[More...]

Alex Dolgonos converts Class A Non-Voting Shares of Unique Broadband Systems, Inc. into common shares

Fri, 07 Aug 2009 20:57:00 GMT

TORONTO, Aug. 7 /CNW/ - Alex Dolgonos ("Dolgonos") announces that 2064818 Ontario Inc., a corporation wholly-owned by The Dolgonos 2005 Family Trust, has converted 11,305,332 Class A Non-Voting Shares of Unique Broadband Systems, Inc. into an equivalent number of common shares of that corporation. The 11,305,332 common shares represent approximately 11% of the 102,747,854 common shares of Unique Broadband Systems, Inc. now issued and outstanding. Dolgonos, as sole trustee of The Dolgonos 2005 Family Trust, retains voting control over these shares.[More...]

UBS Reports a Second Quarter Loss of CHF 1.4 Billion; Quarter-End BIS Tier 1 Ratio of 13.2%

Tue, 04 Aug 2009 06:58:00 GMT

Second quarter net loss attributable to UBS shareholders of CHF 1,402 million
Market conditions improved steadily during the second quarter, with asset prices rising as investor confidence began to return in many credit and equity markets.
Net loss attributable to UBS shareholders was CHF 1,402 million in second quarter 2009 compared with CHF 1,975 million in first quarter 2009.

[More...]

The Securities Law Firm of Klayman & Toskes Files Arbitration Claim Against UBS On Behalf of Retirees for Losses Sustained in Structured Warrants -- UBS

Fri, 10 Jul 2009 21:45:00 GMT

The Securities Law Firm of Klayman & Toskes , www.nasd-law.com, announced today that it filed an arbitration claim against UBS on behalf of a two retirees, for losses sustained as a result of the brokerage firm's unsuitable investment recommendations. The suit was filed with the Financial Industry Regulatory Authority's Department of Arbitration. Specifically, the Claimants, at the direction of their UBS advisor, invested a substantial amount of money in structured warrants, which were represented to be safe, low risk investments. When recommending these products, the advisor stated that the warrants were ideal for the Claimants and were designed for 'security' and 'designed for a downturn.' In his words, there were 'no surprises' related to these products. However, structured warrants carry significant risks and are not suitable for all investors. Unfortunately, the Claimants were never told that these warrants were speculative investments that were highly illiquid and risky. As a result of UBS' failure to disclose the risks associated with structured warrants, the Claimants sustained significant economic losses.[More...]

UBS Investment Bank Continues Expansion of Alternative Research Through Strategic Alliance with Abacus Analytics

Wed, 24 Jun 2009 12:24:00 GMT

UBS Investment Bank’s Equities Research business announced today that UBS Alternative Research has continued its expansion by broadening its existing relationship with Abacus Analytics, a quantitative consulting firm. Offerings from Abacus include research and consulting services organized around the portfolio management process, featuring models and analytics for alpha generation, risk management, portfolio construction and performance attribution.[More...]

The Securities Law Firm of Tramont Guerra &Amp; Nunez, PA Announces Class Action Ruling for Washington Mutual Complaint Results in Delay

Mon, 22 Jun 2009 22:46:00 GMT

The Securities Law Firm of Tramont Guerra & Nunez, PA (TGN) makes an announcement to all Washington Mutual (PINKSHEETS: WAMUQ) investors who are prospective class members of class action lawsuit (Case No.
Prospective class members should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA) is more effective than a class action for recovery of their investment losses.
Many investors were advised that Washington Mutual Stock was suitable for current income investment objectives.

[More...]

The Securities Law Firm of Tramont Guerra & Nunez, PA Announces Class Action Ruling for Washington Mutual Complaint Results in Delay

Mon, 22 Jun 2009 21:55:00 GMT

CORAL GABLES, FL -- -- 06/22/09 -- The Securities Law Firm of Tramont Guerra & Núñez, PA makes an announcement to all Washington Mutual investors who are prospective class members of class action lawsuit filed in the U.S. District Court for the Southern District of New York . On May 15, 2009, Judge Marsha J. Pechman dismissed several of the claims on the grounds that they failed to meet the requirements under the Private Securities Litigation Reform Act . PSLRA rules require all class action complaints meet certain standards, which in this instance resulted in a delay in the case. The Underwriter Defendants who were named in the class action include: Citigroup Global Markets, Inc. , Morgan Stanley & Co, Inc. , Goldman Sachs & Co. , UBS Securities, LLC and Banc of America Securities, LLC. . Prospective class members should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority is more effective than a class action for recovery of their investment losses.[More...]

The Securities Law Firm of Tramont Guerra &Amp; Nunez, PA Makes an Announcement to All Citigroup Bond and Preferred Stock Investors

Mon, 15 Jun 2009 22:46:00 GMT

The Securities Law Firm of Tramont Guerra & Nunez, PA (TGN) makes an announcement to all Citigroup (NYSE: C) Bond and Preferred Stock investors who are prospective class members of class action lawsuit (Master File Case No.
On May 7, 2009, Judge Sidney H. Stein issued an Order that consolidated the Preferred Stock Series AA and Series F class action lawsuits with the Bondholder class action lawsuit in the U.S. District Court for the Southern District of New York.
Prospective class members should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA) is more effective than a class action for recovery of their investment losses.

[More...]

The Securities Law Firm of Tramont Guerra & Nunez, PA Makes an Announcement to All Citigroup Bond and Preferred Stock Investors

Mon, 15 Jun 2009 21:55:00 GMT

CORAL GABLES, FL -- -- 06/15/09 -- The Securities Law Firm of Tramont Guerra & Núñez, PA makes an announcement to all Citigroup Bond and Preferred Stock investors who are prospective class members of class action lawsuit . On May 7, 2009, Judge Sidney H. Stein issued an Order that consolidated the Preferred Stock Series AA and Series F class action lawsuits with the Bondholder class action lawsuit in the U.S. District Court for the Southern District of New York. The Underwriter Defendants who were named in the class action lawsuit include: Citigroup Global Markets, Inc. , Morgan Stanley & Co, Inc. , UBS Securities, LLC and Banc of America Securities, LLC. . Prospective class members should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority is more effective than a class action for recovery of their investment losses.[More...]