IBTimes Australia : Merrill Lynch Topic

German state to buy more bank data in tax clampdown

Tue, 21 May 2013 01:35:03 +1000

The German state of North-Rhine Westphalia may buy more secret Swiss bank data to clamp down on tax evaders even as politicians seek diplomatic ways to end bank secrecy, its finance minister said on Monday.

Analysis: Frontier Markets booming but risks mounting

Mon, 20 May 2013 00:42:01 +1000

With the world's biggest central banks driving yields on safe assets to near zero, some investors are tossing caution to the wind and rushing to buy illiquid and previously overlooked bonds sold by countries with no capital markets track record.

Analysis - Frontier Markets booming but risks mounting

Sun, 19 May 2013 23:35:02 +1000

Greece's Piraeus hire banks to advise on share issue: sources

Sun, 19 May 2013 00:14:04 +1000

Greece's second-largest lender Piraeus Bank has hired four international investment banks as advisers on its 7.33 billion euro (£6.2 billion) share issue, two bankers close to the procedure told Reuters on Saturday.

Exclusive - Onex fails to find buyer for Carestream Health

Sat, 18 May 2013 07:35:02 +1000

Onex Corp has called off its auction of medical imaging firm Carestream Health Inc after failing to find a buyer that was willing to meet its price expectation of as much as $3.5 billion (2.3 billion pounds), three people familiar with the matter said this week.

Exclusive: Onex fails to find buyer for Carestream Health

Sat, 18 May 2013 06:49:03 +1000

Onex Corp has called off its auction of medical imaging firm Carestream Health Inc after failing to find a buyer that was willing to meet its price expectation of as much as $3.5 billion, three people familiar with the matter said this week.

Bankers see M&A recovery after deals drop 7 pct so far in 2013

Sat, 18 May 2013 01:35:02 +1000

A drop in European takeovers has depressed global merger and acquisitions (M&A) activity so far this year, but bankers see activity picking up as a rally in stocks and bonds helps compensate for a prolonged euro-zone recession.

Fed hawks unite in call to retreat from mortgage stimulus

Fri, 17 May 2013 05:00:04 +1000

A trio of hawkish regional Federal Reserve officials are calling for the central bank to stop buying mortgage-backed bonds, citing recent improvement in the housing market.

JP Morgan names Cristerna, Ventresca co-heads of global M&A: memo

Fri, 17 May 2013 02:42:02 +1000

JP Morgan has appointed Hernan Cristerna and Chris Ventresca to the newly created roles of co-heads of global mergers and acquisitions (M&A), according to a memo seen by Reuters.

Fed hawks push for move away from housing-linked stimulus

Fri, 17 May 2013 02:28:03 +1000

A trio of hawkish regional Federal Reserve officials are calling for the U.S. central bank to stop buying mortgage-backed bonds, citing recent improvement in the housing market.

Deutsche Bank names head of wealth in Americas

Thu, 16 May 2013 04:14:02 +1000

Deutsche Bank AG said on Wednesday it has named Jerry Miller to run the German bank's asset and wealth management business in the Americas.

JPMorgan, Portugal in talks to resolve swaps tussle-source

Thu, 16 May 2013 02:28:01 +1000

The Portuguese government and JP Morgan Chase & Co are attempting to resolve a tussle over potentially costly derivative contracts sold by the U.S. investment bank to state-owned companies.

Wall Street holds flat after data; Deere weighs

Thu, 16 May 2013 00:49:03 +1000

U.S. stocks slipped on Wednesday, as both the Dow and S&P 500 held near their most recent record highs after a flurry of economic data did little to upset investor expectations for central bank policies.

UBS Americas hires in-house experts to spur life insurance sales

Thu, 16 May 2013 00:42:02 +1000

After years of urging its financial advisers to sell more life insurance, UBS Wealth Management Americas is bringing in full-time experts and offering financial incentives to prod its tradition-bound sales force outside its comfort zone.

Argentina faces very different debt default if loses legal fight

Mon, 13 May 2013 21:14:02 +1000

When Argentina defaulted on its debt in 2002, the economy was collapsing and a bloody popular revolt had helped topple two presidents in a week. Now, the country could default again, but it would be over a matter of principle rather than necessity.

Risks to China recovery seen as factory output underwhelms

Mon, 13 May 2013 20:00:02 +1000

China's factory output growth was surprisingly feeble in April and fixed-asset investment slowed, rekindling concerns that a nascent recovery is stalling and adding to pressure on policymakers to take action to stimulate the economy.

Analysis: New York may have to drop claims against BofA over Merrill

Fri, 10 May 2013 21:14:03 +1000

Last month, New York Attorney General Eric Schneiderman withdrew claims for up to $6 billion in damages against former AIG chief Hank Greenberg. Now, another big case - against Bank of America over its acquisition of Merrill Lynch - looks headed the same way.

BT raises outlook ahead of sports TV battle

Fri, 10 May 2013 16:49:02 +1000

Britain's BT raised its outlook on Friday after cost cuts and strong consumer demand helped it to beat annual forecasts, underlining its position of strength ahead of a battle with BSkyB for pay-TV viewers.

Analysis - "Dead money" for shareholders a pall over investment hopes

Fri, 10 May 2013 00:28:04 +1000

A growing trend for companies to return some of their huge cash piles to shareholders rather than using the money to expand their businesses could spell trouble for the global economy.

"Dead money" for shareholders a pall over investment hopes

Fri, 10 May 2013 00:21:02 +1000

A growing trend for companies to return some of their huge cash piles to shareholders rather than using the money to expand their businesses could spell trouble for the global economy.

Credit Suisse names UK banker vice chair of EMEA investment banking

Wed, 08 May 2013 08:42:03 +1000

Credit Suisse investment banker Sebastian Grigg has been appointed vice chairman of the bank's EMEA investment banking department after having spent six years at the helm of the company's UK investment banking team.

AIG may pursue fraud case versus BofA over Countrywide

Wed, 08 May 2013 05:35:04 +1000

American International Group Inc may pursue a lawsuit accusing Bank of America Corp's Countrywide unit of causing billions of dollars of losses by fraudulently inducing it to buy risky residential mortgage-backed securities.

CD&R, Carlyle, BofA sell off remaining Hertz stake for $1.24 billion

Tue, 07 May 2013 10:35:04 +1000

Hertz Global Holdings Inc said on Monday that private equity firms Clayton, Dubilier & Rice and Carlyle Group , as well as Bank of America Merrill Lynch , have sold off their remaining shares in the car rental agency for $1.24 billion.

Big U.S. brokerage firms are thriving, not diving: report

Tue, 07 May 2013 03:00:11 +1000

Forecasts of a steady deterioration in profit at Merrill Lynch, Morgan Stanley , Wells Fargo Advisors and UBS Wealth Management Americas are highly exaggerated, analysts at Sanford C. Bernstein & Co declared in a new report on Friday.

BMC to go private in $6.9 billion deal led by Bain, Golden Gate

Tue, 07 May 2013 02:00:06 +1000

Business software maker BMC Software Inc, whose anemic growth has been a source of frustration for its largest shareholder, said it would be taken private by a group led by Bain Capital and Golden Gate Capital for about $6.9 billion.

China April export growth seen edging up from low base

Mon, 06 May 2013 14:35:03 +1000

China's annual export growth may have picked up slightly in April due to a low comparison from a year ago, while import growth probably eased, a Reuters poll showed, suggesting the underlying momentum for both the domestic and global economies remains tepid.

UBS names head of private wealth division in Americas

Sat, 04 May 2013 06:00:04 +1000

Swiss bank UBS AG's U.S. brokerage unit has named a new head for its private wealth management division, as the company looks to expand its business catering to clients with $10 million or more in investable assets.

Big four U.S. brokerage firms are thriving, not diving: report

Sat, 04 May 2013 05:42:02 +1000

In gloom of economic data, hope flickers for China Inc

Fri, 03 May 2013 17:42:01 +1000

Improving first-quarter results from some of China's biggest steel and cement firms suggest that Beijing's economic recovery plan may be starting to filter through into corporate profits.

China factory PMI raises doubts about economy's strength

Wed, 01 May 2013 13:49:02 +1000

Growth in China's manufacturing sector unexpectedly slowed in April as new export orders fell, raising fresh doubts about the strength of the economy after a disappointing first quarter.