Finance

EU Leaders Drop Demands for Investors to Take Writeoffs in Future Bailouts

2011-12-12 10:12:38

European Union leaders dropped their demand that investors share the cost of bailouts as Germany abandoned a campaign that helped deepen the two-year-old financial crisis.

Cantor Plans Unit to Draw Stock Orders From Retail Brokers

2011-12-12 10:11:54

Cantor Fitzgerald LP is expanding into equity wholesaling, the business of executing orders off exchanges primarily for firms catering to individual investors.

Ex-FDIC Chief Bair Said to Be a Top Pick to Monitor Any Foreclosure Deal

2011-12-12 10:10:59

Sheila Bair, the former Federal Deposit Insurance Corp. chairman, is a leading candidate among state officials to ensure banks comply with any settlement of a nationwide foreclosure probe, a person familiar with the matter said.

SEC Says It May Sue Hedge Fund Harbinger Capital

2011-12-12 10:09:53

Billionaire Philip Falcone’s hedge fund, Harbinger Capital Partners LLC, was told it may be sued by federal regulators for securities-law violations and said it plans to halt investor withdrawals at year-end.

Deutsche Bank’s Ackermann Letter Bomb Plot Claimed by Anarchist Group FAI

2011-12-09 11:10:33

An anarchist group claimed responsibility for a letter bomb sent to Deutsche Bank AG Chief Executive Officer Josef Ackermann and may have addressed two more explosive packages to other banks.

EU Loans to IMF May Open Door to Help From Brazil, China to Stem Crisis

2011-12-09 11:09:36

An agreement by European Union leaders to boost the International Monetary Fund’s resources may open the door to similar loans by nations from South Korea to Brazil in a global effort to stem the European debt crisis.

Corzine: I Didn’t ‘Intend’ to Break Rules

2011-12-09 11:08:47

Jon S. Corzine told lawmakers he never intended to break any rules as head of MF Global Holdings Ltd. and doesn’t know what happened to an estimated $1.2 billion in missing client funds.

EU Banks Must Raise $153 Billion of Extra Capital

2011-12-09 11:07:43

European Union banks must raise 114.7 billion euros ($152.8 billion) in fresh capital as part of measures introduced to respond to the euro area’s sovereign-debt crisis.

Citigroup Plans to Cut 4,500 Jobs

2011-12-07 10:36:06

Citigroup Inc. Chief Executive Officer Vikram Pandit will cut about 4,500 jobs in coming quarters as he seeks to trim costs amid slumping revenue.

UniCredit to Reduce Europe Offices by Half as Bank Slashes Costs - Bloomberg (http://www.bloomberg.com/news/2011-12-07/unicredit-plans-to-reduce-european-offices-by-half-as-bank-slashes-costs.html)

2011-12-07 10:35:27

UniCredit SpA (UCG), Italy’s biggest bank, plans to cut the number of its corporate offices by about half in the next few years, saving 50 million euros ($67 million) a year starting in 2015.

Italy’s Main Political Parties Hold Fire on Monti’s Emergency Budget Plan

2011-12-06 11:47:00

Italy’s main political parties are holding their fire on the government’s 30 billion-euro ($40 billion) austerity and growth plan, suggesting they won’t derail measures Prime Minister Mario Monti says are needed to save the nation and the euro.

ECB Can Do More to Supply Banks With Liquidity, Policy Maker Nowotny Says

2011-12-06 11:46:02

European Central Bank Governing Council member Ewald Nowotny said the ECB is observing liquidity shortages in the banking sector and can do more to supply funds.

Singapore Lending Surges 91% to Record $38B

2011-12-06 11:45:00

Syndicated lending in Singapore has almost doubled to a record this year, driven by demand from property developers and a surge in commodity trading.

BNP, Credit Agricole Knocked Off Top French Equity Sales Spots

2011-12-06 11:44:11

BNP Paribas SA (BNP) and Credit Agricole SA (ACA) were elbowed out of the top three rankings for French equity sales for the first time in three years by foreign banks. Societe Generale SA (GLE) kept the No. 1 spot because of one deal.

Lazard’s Jacobs Says Banking Industry Regulatory Changes Were ‘Necessary’

2011-12-05 10:30:04

Lazard Ltd. (LAZ) Chief Executive Officer Kenneth Jacobs said regulatory changes to the U.S. banking industry were “necessary” and “appropriate” in the wake of the financial crisis.

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