Wednesday, April 24, 2019

Tag: Morgan Stanley

Banks to Need Billions More Capital in Tests Under Fed Plan

Wall Street would have to come up with billions of dollars in additional capital in a proposed revamp of the Federal Reserve's annual stress tests that could also scrap some provisions that lenders have criticized. As the Fed has signaled for months, it is considering changes that would raise the...

Bayer Clinches Monsanto Deal for $66 Billion With Fourth Bid

Bayer AG agreed to buy Monsanto Co. in a deal valued at $66 billion, winding up four months of talks to create the world’s biggest supplier of seeds and pesticides. Bayer will pay $128 a share in cash, the company said in a statement Wednesday. The bid -- this year’s...

Morgan Stanley Warns Currency Traders Worst to Come for Dollar

The dollar is set to fall 5 percent in the next few months, the Federal Reserve isn’t raising interest rates anytime soon and U.S. economic data is only going to get worse. That’s what Morgan Stanley chief global currency strategist Hans Redeker told clients in a note published Thursday, citing...

Chilcot Inquiry: What happened to the key players in the Iraq War?

It is well known what happened afterwards to Tony Blair and George W Bush - but what about the rest of them? Here's how they fit in then - and where they are now. Sir John Chilcot has now published his long-awaited report into the Iraq War. At the time...

HSBC: Gold will explode if Britain votes for a Brexit

Gold prices are likely to explode if Britons vote to leave the European Union when they go to the polls next Thursday, gaining as much as 10% in a short space of time. Gold is seen as a haven for cash. It does not pay a coupon like a bond,...

Saudi Arabia said to weigh bond sale of up to US$15b

Saudi Arabia is considering selling as much as US$15 billion of bonds this year in what would be the country's first foray into international capital markets, people with knowledge of a matter said. Encouraged by Qatar's record issue last week, Saudi Arabia is weighing a sale of at least...

Seven big banks settle U.S. rate-rigging lawsuit for $324 million

Seven of the world's biggest banks have agreed to pay $324 million to settle a private U.S. lawsuit accusing them of rigging an interest rate benchmark used in the $553 trillion derivatives market. The settlement made public on Tuesday, which requires court approval, resolves antitrust claims against Bank of America...

U.S.-Saudi Relations

The U.S.-Saudi Arabia alliance, which survived the oil embargo in 1973 and the attacks of September 11, 2001, in which fifteen of the nineteen passenger jet hijackers were Saudi citizens, is coming under new strains. A new generation of Saudi Arabian leaders is adjusting to what it sees as...

Oil Drillers Feel the Pain as Banks Slash Their Credit Lines

Chesapeake Energy Corp., the deeply indebted shale producer, said this week that it can hang on to its $4 billion bank line as long as it posts just about everything it owns as collateral. Many of its competitors are faring far worse. Almost two years into the worst oil bust...

When Donald Trump Needs a Loan, He Chooses Deutsche Bank

Despite some clashes, the Republican front-runner has been a regular client of the German lender. One of Donald Trump's closest allies on Wall Street is a now-struggling German bank. While many big banks have shunned him, Deutsche Bank AG has been a steadfast financial backer of the Republican presidential candidate’s business...

Wall Street Is in Charge in Argentina (Again)

Hours after Argentina cut a deal with New York hedge funds to end a nasty, 15-year-old debt dispute, the government’s top economic officials took to the podium in Buenos Aires to bask in the moment. First to speak that February evening was the finance minister, Alfonso Prat-Gay. He’s an old...

Some Hedge Funds Want to Make Subprime Auto Loans Next Big Short

A group of hedge funds, convinced they have found the next Big Short, are looking to bet against bonds backed by subprime auto loans. Good luck finding a bank willing to do the trade. Subprime Loans Money managers have looked at betting that subprime auto securities will tank for many of...

Japanese banks plunge on European financial stocks rout

Japanese and Australian banks picked up the baton from their European peers, pulling the two bourses — the only two major Asian markets trading on Tuesday morning — sharply lower. Nomura led Japan’s meltdown, dropping 8 per cent within 20 minutes of the market opening. Big commercial banks Sumitomo Mitsui...

Did Wall Street Banks Create the Oil Crash?

From June 2008 to the depth of the Wall Street financial crash in early 2009, U.S. domestic crude oil lost 70 percent of its value, falling from over $140 to the low $40s. But then a strange thing happened. Despite weak global economic growth, oil went back to over...

Russia Breaking Wall Street Oil Price Monopoly

Russia has just taken significant steps that will break the present Wall Street oil price monopoly, at least for a huge part of the world oil market. The move is part of a longer-term strategy of decoupling Russia’s economy and especially its very significant export of oil, from the...

Why Time is Running Out for the Oil Giants

Here’s what may happen after the OPEC talks. Time may be almost up for America’s beleaguered and highly-leveraged energy industry. Consolidation, hostile takeovers, bankruptcies, decreased production, MLP implosions, massive layoffs, and crashing asset prices are all on the agenda for 2016 now that Opec failed to agree to any meaningful production...

U.S. Moves Toward Setting Up Yuan Trading and Clearing in America

The U.S. took an unprecedented step toward allowing trading and clearing of the Chinese yuan in America. Finance and industry leaders said Monday they are setting up a group aimed at allowing U.S. institutions to make or receive yuan payments, according to a press statement released before the International Monetary...

Deutsche Bank, Credit Suisse Said to Hire for Saudi Open

Deutsche Bank AG and Credit Suisse Group AG are among financial institutions seeking to hire traders in Saudi Arabia as the nation prepares to open its stock market to foreign investors, people with knowledge of the matter said. Deutsche Bank is hiring for stock sales and trading, administrative staff and...

Hedge Funds Get Stung by Slow Markets

Louis Bacon and Paul Tudor Jones Are Among Prominent Investors Losing Money on Bad Bets. Some of the biggest investors on Wall Street are losing money with wrong-way bets in markets around the globe, a surprising black eye amid a rise in stock and bond prices. Hedge-fund managers including Paul Tudor...

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