Tag Archive
Moody’s: ‘Persistent, Elevated’ Credit Risks For All But Strongest Euro-Zone Sovereigns, Banks
Moody’s Investors Service said Monday it sees persistent and elevated credit risks for euro-zone sovereigns and banks, despite the expected credit-positive impact of further European bank recapitalizations. In its Weekly Credit Outlook report, Moody’s said recapitalizations and more rigorous stre… read full news Published: Mon, 10 Oct 2011… »
Germany warns on Greece, banks
Germany’s finance minister Thursday warned of “worrying news” coming from the eurozone and said Greece must fulfil the conditions required if it wants more help to combat its debt crisis. Speaking in parliament, Wolfgang Schaeuble said it was “very important, especially given the worrying news fr… read full news Published: Thu, 08 Sep 2011… »
Switzerland Caves In To IRS Demands – US-FOREX.US
To assist the U.S. government Switzerland has lifted its veil of secrecy and has agreed to give 4,450 banking client names to the Internal Revenue Service. The international crackdown on tax evasion has been gaining ever more momentum as governments, smarting from the economic crisis, seek to claw back as much revenue as they can…. »
UBS Needs Talent – US-FOREX.US
When it came to explaining UBS’ woeful performance in the second quarter during a conference call last week, Chief Executive Oswald Gruebel was very blunt about what had gone wrong at his fixed-income division. “I would say the three issues are people, people and people,” he told the analyst who had asked him what the… »
UBS Caught Up In The Issues – US-FOREX.US
You’d think the issue of international tax evasion was big enough to keep government officials talking for a lengthy amount of time. But American and Swiss authorities have a lot more than that to discuss as they seek an agreement over UBS handing over to the U.S.’ Internal Revenue Service the names of several thousand… »
Rights Issue A Risk Too Far For Lloyds – US-FOREX.US
Lloyds Banking Group is facing the choice between the prudent approach that it has been long been known for and a big gamble. Should it stay within the government’s asset protection program or attempt to make a bid for independence?The bank, currently 43% in the hands of the British government, is reportedly mulling a 15… »
Britains Banking Burden Grows – US-FOREX.US
While most European banks have been celebrating a second-quarter turnaround in investment-banking profits, Royal Bank of Scotland could only look on enviously on Friday. The state-controlled bank reported a whopping 1.7 billion loss for the first six months of 2009, driven by the depressed British economy and deteriorating loan values, and said it would not… »
Commerzbank Feels Germanys Pain – US-FOREX.US
It’s not easy being Commerzbank. Whereas other European heavyweights like Barclays, Societe Generale and BNP Paribas have reported strong second-quarter profits, boosted by a turnaround in investment banking, the German lender’s heavier dependence on retail banking resulted in a second-quarter 1 billion loss on Thursday. And with Europe’s biggest economy expected to shrink 6% this… »
Should Lloyds Bulk Up On Investment Banking – US-FOREX.US
It’s been a rather tragic, double whammy for Lloyds Banking Group: Not only does the lender’s deep involvement in domestic retail banking mean its fortunes are dangerously tied to Britain’s economic ups and downs, it has had to deal with billions of dollars worth of bad assets brought on from its controversial takeover of mortgage… »
Oppenheim Opens Its Doors – US-FOREX.US
German financier Salomon Oppenheim, Jr. would be turning in his grave. The private bank he founded 220 years ago, Sal. Oppenheim & Cie., has opened its books for the first time in more than a century to an outside investor-Germany’s Deutsche Bank. The “strategic partnership” being discussed could lead to Deutsche Bank taking a minority… »