Lehman Pays Lawyers, Advisers $805.3 Million Through May
24th Jun 2010 19:36
By Peg Brickley Of DOW JONES DAILY BANKRUPTCY REVIEW The month of May added another $39.2 million to the professional fee bills rung up in U.S. bankruptcy court by collapsed investment bank Lehman Brothers Holdings Inc. (LEHMQ), bringing the total paid to lawyers and advisers working on the
Read moreAbitibiBowater Seeks To Pay Fees To Line Up $2.3B In Capital
24th Jun 2010 19:06
By Eric Morath Of DOW JONES DAILY BANKRUPTCY REVIEW AbitibiBowater Inc. (ABWTQ) is seeking to pay fees to banks that will assist it in lining up more than $2.3 billion in capital that the newsprint maker says is necessary for it to emerge from Chapter 11 protection. In papers filed Wedne
Read moreEXTRA CREDIT: SEC Rule Change Makes Putables More Popular
24th Jun 2010 18:44
By Anusha Shrivastava A DOW JONES NEWSWIRES COLUMN NEW YORK (Dow Jones)--A recent rule change by the Securities and Exchange Commission has led to the resurgence of a debt instrument called step-up certificates of deposit, or putables. Nearly $15 billion of step-up putables--loans that m
Read moreAgency Mortgage Bonds At 15-Year High As A Safe-Haven Buy
23rd Jun 2010 22:19
By Prabha Natarajan Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Mortgage securities issued by government agencies--Fannie Mae (FNM), Freddie Mac (FRE) and Ginnie Mae--climbed to 15-year highs Wednesday as investors sought investments that are as safe as Treasurys but offer better returns.
Read moreADR Report: Shares Close Mostly Flat On Cautious Outlook
23rd Jun 2010 22:11
By Victoria Finkle Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York ended close to flat Wednesday, following a fitful session during which the U.S. Federal Reserve kept interest rates low and took a cautious stance on the economic outlook. The Bank
Read moreBarclays Pres: Collins Plan Could Cut Credit Availability By $1.5 Tln
23rd Jun 2010 19:00
By Meena Thiruvengadam Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--A proposal that would prevent banks from counting trust preferred and other hybrid securities as Tier One capital could cut their ability to extend credit to customers by as much as $1.5 trillion, Barclays PLC (BCS, BARC.L
Read morePRESS RELEASE: Moody's Investors Service Has Assigned The Rating Of Aa2/Vmig 1 To The Barclays Capital Inc. (MUNI. DERIV.) Floating Rate Trust Receipts, Series 2010-63B
23rd Jun 2010 18:43
The following is a press release from Moody's Investors Service: NEW YORK, June 23, 2010 -- Moody's Investors Service has assigned the rating of Aa2/VMIG 1 to the Barclays Capital Inc. (Muni. Deriv.) Floating Rate Trust Receipts, Series 2010-63B. The long-term portion of the rating on the trust ce
Read moreUPDATE: Cost Of Insuring Greek Highest Level Since May 7-CMA
23rd Jun 2010 15:49
(Updates prices, adds comment, background.) By Art Patnaude and Michael Wilson Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The cost of insuring Greek sovereign debt rose sharply Wednesday amid low levels of liquidity and widening in the country's government bond spread. Greece's fiv
Read moreFinancial News: How Budget Tax Measures Will Affect The Banks
23rd Jun 2010 14:37
By Dominic Elliott Of FINANCIAL NEWS Measures announced as part of the U.K.'s emergency Budget will provide a fillip to Lloyds Banking Group's (LYG) business by the year 2012 and will hit earnings at the country's other four large universal banks by "just" GBP56 million on average--or less t
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
23rd Jun 2010 07:49
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0649 GMT [Dow Jones] U.K. banks will have to pay a combined GBP1.1 billion next year and GBP1.9 billion in 2012 in new taxes
Read moreMARKET TALK: UK Banks To Pay GBP1.1B In 2011 In New Tax
23rd Jun 2010 07:49
0649 GMT [Dow Jones] U.K. banks will have to pay a combined GBP1.1 billion next year and GBP1.9 billion in 2012 in new taxes imposed by the U.K. government, JP Morgan estimates. Adds this is 4% and 5% of group earnings for those years, respectively. Says the levy is "less punitive" than expected, wi
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
23rd Jun 2010 07:21
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0621 GMT [Dow Jones] The levy on banks imposed by the UK Chancellor is not as bad as expected and there is the further relie
Read moreMARKET TALK: Lloyds Banking Seen Benefiting From Budget
23rd Jun 2010 07:21
0621 GMT [Dow Jones] The levy on banks imposed by the UK Chancellor is not as bad as expected and there is the further relief in the form of an unexpected cut in the corporate tax rate, says Citigroup. Lloyds Banking Group (LLOY.LN) is the clear winner in the budget. It estimates the net effects on
Read moreWednesday newspaper round-up: Budget, Asda, BP
23rd Jun 2010 06:35
Every household in Britain will be worse off after George Osborne unveiled £29bn worth of annual tax rises and the biggest cuts in public spending for almost a century. In an ambitious attempt to reduce the nation's borrowing, the Chancellor said everyone had to share the pain to repair "the ruins"
Read moreHEARD ON THE STREET: UK Levy Not Too Taxing For Banks
22nd Jun 2010 19:13
By Simon Nixon A DOW JONES COLUMN Following an election in which bank-bashing figured prominently, the U.K. banking sector can count itself lucky with the coalition government's emergency budget. Although Chancellor George Osborne is pushing ahead unilaterally with a bank levy, it is only ex
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