Sunday, May 19, 2019

Tag: UBS

HSBC: There’s Now a Very High Chance of a Severe Fall In U.S. Stocks

The technicals don't look good. Yesterday's big stocks drop may have just been the beginning. Or so says HSBC Holdings Plc technical analyst Murray Gunn. In a new note, Gunn says he is now on alert for a big dip in U.S. equities. "With the U.S. stock market selling off aggressively...

Deutsche Bank’s Monumental Mess – Merkel Says No State Aid, Depositor Bail-In Coming Up?

The €72 trillion (notional) derivatives mess known as Deutsche Bank remains under severe pressure. It’s market cap is $17.43 billion. It has no earnings and pays no dividend. On April 23, Deutsche Bank was Fined $2.5 Billion over LIBOR rate rigging. Twenty-one people face criminal charges following a seven-year investigation. On...

Democratic Pundits Downplay Serious Ethical Issues Raised by the Clinton Foundation

The Associated Press story this week revealing that as secretary of state, Hillary Clinton frequently met with donors to the Clinton Foundation, set off a firestorm in the media. Many Democrats and sympathetic pundits are criticizing the article — and have made the sweeping claim that, contrary to many deeply reported investigations,...

China will need to cut 3.5 million jobs across six core industries as tonic...

A 10 per cent capacity reduction is needed in six main industries, according to new research. China's excess capacity problem is daunting by any yardstick. The nation’s ability to produce manufactured goods outstrips not only the demands of the mainland economy, but that of the entire global economy, as indicated by...

ICBC buys Barclays’ US$80bn London gold vault

ICBC Standard Bank is buying Barclays' London precious metals vault, giving the Chinese bank the capacity to store gold worth more than US$80bn in the secret location. The vault is one of the largest in Europe, with a capacity to hold 2,000 tonnes of gold, silver, platinum and palladium. It...

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...

Deutsche Bank Turns on the Gold-fix Cartel

Deutsche Bank, Germany’s once-respected giant bank, has admitted being a party–together with a cartel of major Wall Street and select other international banks–in deliberately manipulating the price of gold over a period of years. As well, the German bank, in a court settlement with litigants in a US court,...

Seriously Sinister: Foremost Bank Whistleblower Says CIA Behind Panama Papers

Former UBS banker questions why all the names that have surfaced from tax evasion leak 'are the direct quote-unquote enemies of the United States'. While many observers have questioned why the Panama Papers leak has largely focused on the economic corruption of obstensible U.S. adversaries, such as associates of Russian...

Panama Papers: Massive Tax Haven Document Leak Exposes Corruption and Crime on Global Scale

A trove of files obtained by German journalists reveals how a global industry of law firms and large banks sell financial secrecy services to politicians, crooks and drug dealers as well as billionaires, celebrities and sports stars. A massive leak of millions of documents has revealed that heads of state,...

The World’s Favorite New Tax Haven Is the United States

Moving money out of the usual offshore secrecy havens and into the U.S. is a brisk new business. Last September, at a law firm overlooking San Francisco Bay, Andrew Penney, a managing director at Rothschild & Co., gave a talk on how the world’s wealthy elite can avoid paying taxes. His...

RBS cries ‘sell everything’ as deflationary crisis nears

Clients told to seek safety of Bonds and Treasuries. 'This is about return of capital, not return on capital. In a crowded hall, exit doors are small'. RBS has advised clients to brace for a “cataclysmic year” and a global deflationary crisis, warning that major stock markets could fall by...

The Worth of Gold Growing by the Day

The worth of gold in the world is growing by the day. That might seem like a paradox but it isn’t. The worth of gold is not fixed on the Comex futures exchange, or the trade in London or Zurich. True, most of the gold-trading public takes its cue...

Six Banks Pay $5.8 Billion, Five Guilty of Market Rigging

Six of the world’s biggest banks will pay $5.8 billion and five of them agreed to plead guilty to charges tied to a currency-rigging probe as they seek to wind down almost half a decade of enforcement actions. Citicorp, JPMorgan Chase & Co., Barclays Plc and Royal Bank of Scotland...

Eric Holder Exits Without Bringing Libor or Foreign Exchange Charges Against Citigroup or JPMorgan

Americans have been reading about Citigroup’s and JPMorgan’s roles in rigging the Libor interest rate benchmark for so many years that it’s a sure bet most folks think the U.S. Department of Justice has already fined and settled charges against these two banks. The truth of the matter is...

Hedge Funds Rush Into Debt Trading With $108 Billion

Hedge funds using debt-trading strategies honed on Wall Street are expanding at a record pace as they profit from risks big banks are no longer taking. BlueCrest Capital Management LLP doubled its New York staff in the two years through December, while Pine River Capital Management LP increased its global...

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