China’s rate reform adds to concerns for bank investors
SHANGHAI (Reuters) – Beijing’s move to scrap the floor on lending rates is not yet a game-changer for Chinese banks, but it may have just started the countdown to an eventual industry overhaul which will deprive the banks of virtually risk-free profits…
Analysis: As WTI and Brent reunite, Gulf of Mexico faces squeeze, not glut
NEW YORK (Reuters) – Even after a surprisingly vigorous surge in U.S. crude oil prices finally eliminated a three-year discount versus global benchmark Brent, some cash markets are sending a curious signal: refiners are ready to pay even more.
J.P. Morgan, U.S. energy regulator near $410 million settlement: WSJ
(Reuters) – J.P. Morgan Chase & Co is close to a $410 million settlement of Federal Energy Regulatory Commission (FERC) allegations that the bank manipulated energy markets in California and the Midwest, the Wall Street Journal reported.
SEC voted unanimously to pursue charges against SAC’s Cohen: sources
WASHINGTON (Reuters) – U.S. securities regulators were united in their decision to file civil charges against billionaire hedge fund owner Steven A. Cohen last week, in a high-stakes case that could result in Cohen being barred from the industry, peopl…
Cost of weeding out criminals and tax cheats hits private banks
LONDON (Reuters) – Private banks managing the financial affairs of the world’s wealthy face spending millions of dollars every year on vetting new clients, as regulators get tough on banks that harbor tax cheats and money launderers.
British company dividends hit record total in second quarter
LONDON (Reuters) – British corporate dividends hit a record total in the second quarter of 2013, although underlying growth is slowing compared to previous predictions, a study showed on Monday.
Deutsche Bank set to trim balance sheet by 20 percent: FT
(Reuters) – Germany’s biggest lender, Deutsche Bank , is expected to announce during its second-quarter results its plans to reach a minimum 3 percent overall equity to loans ratio in the next two and a half years, the Financial Times reported on Sunda…
China’s rate reform points to eventual banking shake-up
SHANGHAI (Reuters) – Beijing’s move to scrap the floor on lending rates is not yet a game-changer for Chinese banks, but it may have just started the countdown to an eventual industry overhaul which will deprive the banks of virtually risk-free profits…
Volatile markets generate little cheer for Asia’s trading desks
HONG KONG (Reuters) – Trading desks normally love volatility but Asian operations have found little joy in recent wild swings, undercut by investors’ brutal reassessment of the region’s prospects as they prepare for the end of unlimited cheap cash from…
The China disconnect: analysts lose plot on financial stocks
HONG KONG (Reuters) – Seventy percent of analysts covering Chinese financial stocks rate them a buy, the highest among the world’s top 10 markets for such shares. Yet its financials are the worst performing this year in the group, Thomson Reuters StarM…
