Rabu, 29 September 2010

Top Interest Rate Headlines 09-29-2010

Newedge handles $2bn notional on Eris
By Jeremy Grant
FT.com / FT Trading Room / Clearing & Settlement
Newedge, the world's largest futures broker, has handled $2bn in notional value of interest rate swaps contracts traded on the recently-launched Eris Exchange and cleared through CME Group's clearing house.
http://jlne.ws/cV60XV

MF Global to Release Second Quarter 2011 Results
Press Release
NEW YORK, Sep 28, 2010 -- MF Global Holdings Ltd. (NYSE: MF), a leading broker offering customized solutions in global cash and derivatives markets, will release its second quarter 2011 financial results on Thursday, November 4, 2010.
http://jlne.ws/cto7bF

ICAP's EBS Platform Announces Launch of Newly Tradable USD/Yuan "CNH" Currency Pair
Press Release
London, Hong Kong, 29th September 2010 - ICAP, the world's premier interdealer broker, announced the launch of a newly tradable currency pair for Hong Kong delivered Chinese Yuan. This pair, which launched and traded on Monday 27th September, is listed as USD/CNH on ICAP's EBS platform.
http://jlne.ws/ct9HSQ

Hedge Funds: BarCap makes prime brokerage push
Market Watch
The investment-banking arm of U.K. bank Barclays PLC is expanding in the potentially lucrative business of providing brokerage services to hedge funds
http://jlne.ws/cQsKmB

Peregrine Financial Group Canada, Inc. (PFG Canada) Welcomes Bert Liffmann, Respected Futures Portfolio Manager and Foreign Exchange Risk Manager
PFG Canada President James Klotz Elected to Serve the Ontario District Council
TORONTO--(BUSINESS WIRE)--Peregrine Financial Group Canada, Inc. (PFG Canada) is proud to report that 25-year market veteran Bert Liffmann has brought his esteemed practice as a futures portfolio manager and foreign exchange risk manager, along with a reputation of the highest level of professional conduct and standards, to the office at Water Park Place, 20 Bay Street, Toronto.
http://jlne.ws/deba4K

Goldman Sachs Seeks Up To US$2.05 Billion In ICBC Share Sale - Source
Dow Jones
HONG KONG -(Dow Jones)- Goldman Sachs Group Inc. is raising as much as US$2.05 billion from the sale of part of its stake in Industrial & Commercial Bank of China Ltd. (1398.HK) in a placement, a person familiar with the deal said Wednesday.
http://jlne.ws/cXGPlQ

Goldman Seeks to Raise $2.05 Billion in ICBC Share Sale
By Darren Boey and Cathy Chan
Goldman Sachs Group Inc. is seeking to reap HK$15.9 billion ($2.05 billion) from selling shares in Industrial & Commercial Bank of China Ltd. in a transaction that would give it a fourfold return on its 2006 investment.
Bloomberg
http://jlne.ws/9r9eHO

Goldman Sachs Runs U.S. Advertising Campaign Emphasizing Job-Creation Role
By Christine Harper
Goldman Sachs Group Inc., which agreed in July to pay $550 million to settle a U.S. regulator's fraud suit, rolled out an advertising campaign today with ads that emphasize the firm's role in alternative energy and job creation.
http://jlne.ws/aAJmGW

Goldman Sachs' Latest Ad Campaign Will Reportedly Tout Its Role As A Good Citizen
The Huffington Post
What's Your Reaction? Goldman Sachs launches a new public relations campaign today with a full page ad in the Wall Street Journal touting the company's role in raising capital for a clean energy project.
http://jlne.ws/betMV3

UBS: To Save CHF70 Million Yearly By Moving Jobs From Zurich Center
Dow Jones
ZURICH -(Dow Jones)- UBS AG said Wednesday it will save 70 million Swiss francs ($71.4 million) annually by moving jobs out of central Zurich into the outskirts as well as into a new development dubbed Europaallee.
http://jlne.ws/c0qJdL

RBS, Barclays Get Loan-Pricing Complaint from U.K. Antitrust Regulator
Bloomberg
The U.K. Office of Fair Trading issued a statement of objections to Royal Bank of Scotland Group Plc and Barclays Plc following an investigation into the disclosure of confidential loan pricing information.
http://jlne.ws/dt4XYP

HSBC chief: No plans to move HQ to Hong Kong
Market Watch
HONG KONG (MarketWatch) -- HSBC Holdings PLC's departing chairman, Stephen Green, said Wednesday the bank has no plans to move its headquarters to Hong Kong from London. Green, who is stepping down to become the U.K.'s trade minister, made the remarks on the sidelines of the bank's board meeting in Shanghai. Rumors that HSBC was thinking about moving to Hong Kong were sparked by Stuart Gulliver ...
http://jlne.ws/cLlNyq

HSBC pledges to stay in London
My Village City of London
Top executives at HSBC Holdings Plc said there are no plans to move the bank's headquarters from London, as they gathered for their regular board meeting amid a surprise shake-up in the corporate suite of Europe's largest bank.
http://jlne.ws/9ehG8Y

HSBC has some explaining to do on governance - PIRC
Interactive Investor
LONDON (Reuters) - HSBC Holdings ( HSBA.L ), Europe's biggest bank, will "have some explaining to do" to investors on why it ignored best corporate practice and chose an executive director as chairman, a leading advisory service said.
http://jlne.ws/aGJ9os

HSBC's hot seats
The Standard
Michael Geoghegan, the outgoing chief executive of HSBC (0005), has admitted the lender's succession process could have been handled better.
http://jlne.ws/9kLhcA

Morgan Stanley Names Eric Grossman Global Head of Legal
Bloomberg
Morgan Stanley, the sixth-largest U.S. bank by assets, named Eric Grossman global head of legal.
http://jlne.ws/bYCw1F

Morgan Stanley in recruitment freeze
My Village City of London
Morgan Stanley, which employs more than 5,000 people in London, has put a freeze on hiring staff for the rest of the year. The US investment bank said although it was not hiring it had no plans for large-scale lay-offs this year.
http://jlne.ws/dtujXy

Morgan Stanley's trading push pauses
Market Watch
Firm freezes hiring, but no layoffs planned; freeze excludes Smith Barney retail brokerage venture
http://jlne.ws/bAgACt

Morgan Hiring Slowdown More Than a Pause
New York Times
Like a lot of investment banks , Morgan Stanley won't be doing much hiring in the fourth quarter.
http://jlne.ws/a98Kja

Deutsche Bank CEO Ackermann Buys $8.4 Million of Shares in Rights Offer
Bloomberg
Deutsche Bank AG, Germany's biggest bank, said Chief Executive Officer Josef Ackermann bought shares valued at about 6.2 million euros ($8.4 million) in the company's rights offer.
http://jlne.ws/dwkWt2

Credit Suisse CEO Warns Of Mixed 3Q At Investment Bank
By Anita Greil - Dow Jones Newswires
ZURICH -(Dow Jones)- Credit Suisse (CS: 43.80 ,-0.16 ,-0.36%) Chief Executive Officer Brady Dougan cautioned Wednesday that the performance of the Swiss firm's investment bank was mixed in the third quarter, but added that the bank as a whole is well positioned to deal with difficult market conditions.
http://jlne.ws/aMLLI9

Barclays Wealth continues US build-up
eFinancial News
Barclays Wealth, a unit of Barclays, hired a regional branch manager from Neuberger Berman and 14 investment representatives from rivals, continuing the firm's push to expand in wealth management in the Americas.
http://jlne.ws/aSmaYv

Barclays chief warns of more expensive borrowing
Yorkshire Evening Post
Barclays' incoming chief executive Bob Diamond renewed fears over the cost of borrowing today as he warned stricter banking rules will make funding more expensive.
http://jlne.ws/97z4Oy

State Street Expands Relationship with Babson Capital
Business Wire
BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors, announced today that it is expanding its relationship with Babson Capital Management LLC to provide investment operations and technology services. Today's announcement builds on State Street's existing relationship with Babson Capital whereby State ...
http://jlne.ws/cf3VRR

Jefferies Adds Ex-Merrill Investment Banker Abid Rizvi to Consumer Group
Bloomberg
Jefferies Group Inc. , the securities firm that increased staff 30 percent in 20 months, hired Abid Rizvi, a former Merrill Lynch investment banker in consumer products, to be a managing director in the global mergers and acquisitions group.
http://jlne.ws/cYJRZG

FDIC faces costly WaMu claim
CNN Money
The hits keep coming for the Federal Deposit Insurance Corp. The bank wants the FDIC to cover the cost of defending lawsuits facing JPMorgan following its September 2008 fire sale acquisition of Washington Mutual, the Seattle thrift whose collapse ranks as the biggest-ever U.S. bank failure.
http://jlne.ws/aGSH0r

Two Major North American Global Banking Groups Implement FinArch's Liquidity Risk Calculation And Reporting Solution
Press Release
Finance Resource Planning (FRP), is pleased to announce that two of North America's largest globally operational banks are implementing the Liquidity Risk Calculation and Reporting solution from the Financial Studio platform to meet all the requirements of the UK FSA's liquidity risk regime.
http://jlne.ws/cxgbC7

Take Charge of Your Financial Future, Learn about Online Investing at Scottrade's New Office
Business Wire
HENDERSONVILLE, Tenn.--(BUSINESS WIRE)--Online investing firm opens Hendersonville Branch Office on Oct. 11 to help self-directed investors, answer questions and give tutorials on Scottrade's online trading services.
http://jlne.ws/9UqLIp

Lehman Signs Fetch $111,700 in London as Collectors Vie for Bank Souvenirs
Bloomberg
Two signs from the London headquarters of Lehman Brothers Holdings Inc. sold at auction today for a total of 70,800 pounds ($111,700) as collectors and souvenir hunters snapped up remains of the collapsed bank.
http://jlne.ws/czTikF

Bidding war for Lehman souvenirs at UK auction
RTE News
A sale of Lehman Brothers' signs and artworks saw the first lots selling for way over their estimated prices.
http://jlne.ws/d4XQk5

Lehman Bros sign, artworks auctioned off in UK
LONDON - Artwork from doomed investment bank Lehman Brothers is being sold at an auction in London.
http://jlne.ws/9U6cX3
 

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