Q & A : OBAMA’S REGULATORY PROPOSALS June 17, 2009 Q. WHAT IS THE KEY MEASURE?A. Perhaps the most radical reform is that the Federal Reserve will adopt the role of a systemic risk supervisor with responsibility for the oversight of large firms that could pose a threat to financial stability, even those which do not own banks. Q. HOW DO THE REFORMS AFFECT CAPITAL [...]
JPMorgan arm ups EcoSecurities offer September 23, 2009 JPMORGAN Chase vehicle Carbon Acquisition Company (CAC) yesterday hiked a cash offer for the carbon offset aggregator EcoSecurities, in a bid to win round shareholders. CAC increased its initial offer of 100p per share to 105p, valuing EcoSecurities at £129m and also bought a further 18.3m shares in the company, taking its stake to nearly [...]
Banks shrug off McDonald’s and Apple worries June 8, 2009 US stocks rebounded late yesterday to end flat, shrugging off lighter-than-expected sales from McDonald’s and lowered iPhone prices from Apple. The three major US stock indexes had fallen more than 1 per cent before rallying in the last hour of trading, led by bank shares. Analysts pointed to the S&P 500’s recent piercing of its [...]
Falling bond yields cheer Wall Street May 28, 2009 US stocks climbed more than 1 per cent yesterday as higher oil prices drove up energy shares and falling yields in the bond market eased concerns that higher borrowing costs would hinder economic recovery. Energy company shares, including Exxon Mobil, rose as US crude oil settled above $65 a barrel for its highest close since [...]
Never again must banks ask for handouts June 9, 2009 IT is great news that 10 US banks have been given the green light to reprivatise themselves by paying back $68bn in Tarp bailout money. This is a milestone in the financial crisis; not only are banks raising their own equity privately again but they are also issuing long-term debt that isn’t guaranteed by the [...]
Why a Vodafone and T-Mobile tie up makes sense July 1, 2009 FOR Sale. British mobile network operator. Number four in market. Unprofitable. One neglectful German owner. £3bn or nearest offer. If JP Morgan, which has been appointed to drum up interest in a potential sale of Deutsche Telekom’s T-Mobile UK, were to write a classified ad for the business, this is how it would read. One [...]
JP Morgan leads in RBS Sempra race January 20, 2010 JPMORGAN Chase is in exclusive talks to buy the RBS Sempra commodities joint venture in a deal expected to be worth about $4bn (£2.5bn). JPMorgan, Deutsche Bank and Australia’s Macquarie had each submitted offers worth nearly $4bn for the RBS Sempra unit by an early January deadline. JPMorgan and Deutsche Bank were seen as the [...]
Return of optimism bolsters FTSE as JP Morgan cheers October 14, 2009 BRITAIN’S top share index surged 2 per cent yesterday, hitting its highest closing level in more than a year, as quarterly earnings from JPMorgan Chase and Intel lifted investor's sentiment. The FTSE 100 ended up 101.95 points higher at 5,256.10, after closing 1.1 per cent weaker on Tuesday. The UK benchmark, which tumbled more than [...]
Cowdery will chase Friends July 13, 2009 CLIVE Cowdery’s buyout vehicle, Resolution, is prepared to launch a hostile bid for Friends Provident, the life assurance firm led by Trevor Matthews, if it fails to agree a takeover. Cowdery and Matthews may end up battling it out if a friendly deal can’t be struck, with Resolution prepared to ignore the Friends board’s recommendations [...]
Bank of America adds cheer to bank stocks July 22, 2008 Shares in Bank of America, the largest retail bank in the US, surged after the mortgage lender revealed better-than expected second quarter results, despite a 41 per cent drop in profits and a rise in bad loans. The stock climbed 6 per cent higher after the bank topped earnings forecasts, boosting confidence amongst investors that [...]