WHAT THE OTHER PAPERS SAY THIS MORNING November 22, 2011 FINANCIAL TIMES NOMURA STEPS UP ASSET SALE PLANS Nomura has approached big private equity firms about the possible sale of domestic businesses, including its real estate arm, as the Japanese bank moves to shore up its capital buffers. Several people familiar with the preliminary talks with parties including KKR and TPG said the bank was [...]
AT&T challenged in T-Mobile buy November 22, 2011 AT&T’s proposed $39bn (£25bn) purchase of T-Mobile is facing increasing headwinds. Yesterday, the Federal Communications Commission (FCC) announced that chairman Julius Genachowski will float a draft order calling for an administrative law judge to review the deal. This action is being read as a sign that the FCC will shoot down the merger. The FCC [...]
Deutsche Bank mulls asset sales November 22, 2011 Deutsche Bank is considering the sales of several global asset management businesses in light of new regulation, rising costs and growing competition expected to weigh down future earnings. Germany’s biggest bank is carrying out a strategic review on how the cost of new regulations and competitive changes are impacting the bank. The review will include [...]
Fed’s PR plans prompt hopes over more QE November 22, 2011 THE FEDERAL Reserve has discussed how it can improve the communication of its policies to the public, it was revealed last night, stoking rumours that a third phase of the controversial quantitative easing programme (QE3) could be on the way. “A few” of the Fed’s committee believe the economic outlook may be grim enough to [...]
Risk of financial crisis highest since 2008, City survey says November 22, 2011 THE RISK of another financial crisis is the highest it has been since the summer of 2008, according to a Bank of England survey released yesterday. The survey of 68 City market participants found that over half (54 per cent) rate the chance of a “high-impact event” as either high or very high. Only three [...]
Six American banks face more stress tests over Euro debt crisis November 22, 2011 SIX of America’s biggest banks face a new round of stress tests as the Federal Reserve shows increasing concern over the Eurozone debt crisis. The tests against a possible market shock will take in Bank of America Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells Fargo, which all have large trading operations. Yesterday [...]
Thomas Cook seeks sale of Spanish asset November 22, 2011 THOMAS COOK has launched a firesale of its Spanish hotels as part of a wider plan to cash in on non-core assets and stave off a debt crisis. The group’s shares plunged 75 per cent yesterday after it said it had opened fresh talks with its lenders in an effort to increase borrowing for the [...]
ANALYST VIEWS: WHAT IS NEXT FOR THOMAS COOK? November 22, 2011 WYNN ELLIS | NUMIS The announcement will be of concern to shareholders, customers and suppliers. Thomas Cook faces a difficult near-term future which could lead to significant loss of market share. Turning the business around will also be tougher as suppliers are likely to be more wary of committing product to the company and extending [...]
Santander to sell Chilean stake for $1bn November 22, 2011 SANTANDER is set to offload a 7.8 per cent stake in its Chilean subsidiary, worth approximately $1bn (£639m), in an effort to increase its core capital to 10 per cent by 30 June 2012. The bank is selling the shares in order to meet new regulatory requirements for capital ratios, with the European Banking Authority [...]
ANALYSIS | AMOUNT OF CAPITAL BANKS MUST RAISE UNDER NEW EU STRESS TESTS November 22, 2011 €30bn €26.2bn €17.8bn €8.8bn
