UPDATE: DOJ Seeks Long Jail Term For Onetime Fundraiser
24th Jun 2010 17:31
(Updates with more details from the filing, date of sentencing.) By David Benoit Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Federal prosecutors asked a judge to sentence Hassan Nemazee, a onetime prominent Democratic fund-raiser and New York businessman, to a prison term as long as 19-
Read moreGunvor Increases Loan To $1.03B On Successful Syndication
24th Jun 2010 16:42
LONDON (Dow Jones)--Geneva-based, independent energy company Gunvor International BV said Thursday that it has increased the size of its revolving credit facility to $1.03 billion from $750 million due to oversubscription during syndication. The facility consists of two tranches. Tranche A is av
Read moreGovernment Seeks Long Jail Term For Onetime Fundraiser Nemazee
24th Jun 2010 16:24
By David Benoit Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Federal prosecutors have asked a judge to sentence Hassan Nemazee, a onetime prominent Democratic fund-raiser and New York businessman, to a prison term as long as 19 and a half years for his $292 million fraud. Nemazee, who pl
Read moreUPDATE: Ford Unit In EUR474.45M Triple-A German Auto ABS Sale
24th Jun 2010 14:27
(Adds detail, background) By Mark Brown Of DOW JONES NEWSWIRES LONDON (Dow Jones)--FCE Bank PLC, a unit of Ford Motor Co.(F), has sold EUR474.45 million of triple-A rated asset-backed securities backed by German auto loans via a private placement, bankers involved in the transaction said
Read moreUPDATE: Mumtalakat's $750M 5-Yr Bond Attracted $3.25B Orders
24th Jun 2010 11:04
(Adds bond disbursement from HSBC.) By Mirna Sleiman Of ZAWYA DOW JONES DUBAI (Zawya Dow Jones)--Bahrain's Mumtalakat Holding Co., the Gulf Arab state's sovereign wealth fund, attracted orders of $3.25 billion for its $750 million bond, easing pricing. Mumtalakat had originally set
Read moreHSBC Keeps HK Dollar Prime Lending Rate Unchanged At 5.00%
24th Jun 2010 09:00
HONG KONG (Dow Jones)--HSBC Holdings PLC (HBC) unit Hongkong & Shanghai Banking Corp. said Thursday it was leaving its best lending rate in Hong Kong unchanged at 5.00%, a level it has maintained since November 2008. The bank also left its savings rates unchanged. The statement followed the U.S.
Read moreMARKET TALK:Expanded CNY Settlement L/T Positive To HK Bks -GS
24th Jun 2010 04:55
0355 GMT [Dow Jones] Goldman Sachs believes PBOC's announcement of making CNY-denominated trade settlement available worldwide is long-term positive for HK and its banking sector. Says this announcement and China's decision to allow more CNY flexibility, to be viewed as China's effort to increasingl
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 moreBanks Won't Step Back From Deep-Water Drill Financing -HSBC Exec
23rd Jun 2010 10:36
LONDON (Dow Jones)--Major banks will not step back from financing deep-water oil and gas projects in the wake of the Gulf of Mexico oil spill, said Will Rathvon, Global Head of the Resources and Energy Group at HSBC Wednesday. "The U.S. Gulf issue will only cause folks to pause," Rathvon said at
Read moreBahrain's Mumtalakat To Price $750M 5-Year Bond At Swaps +3.00
23rd Jun 2010 09:54
LONDON (Dow Jones)--Bahrain Mumtalakat Holding Co., the Gulf state's $10 billion sovereign wealth fund, has set price guidance on its $750 million, five-year bond at 300 basis points over midswaps, a bank running the sale said Wednesday. This is in line with initial guidance and comes after Mumt
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 07:49
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 moreHSBC CEO: Ready For China Listing Once Chinese Regulators Allow
23rd Jun 2010 07:42
HONG KONG (Dow Jones)--HSBC Holdings PLC (HBC) Chief Executive Michael Geoghegan reiterated Wednesday that the U.K. lender is ready for a listing in mainland China once the country's regulators allow foreign companies to list domestically. The banking giant has been working toward becoming one o
Read moreMARKET TALK: HK Short Sales +9.3% Midday; HSBC Heaviest
23rd Jun 2010 07:29
0629 GMT [Dow Jones] HK short-selling volume +9.3% at HK$2.122 billion at interval, 6.6% of market total, vs 5.6% Tuesday's half-day, suggests index may consolidate further after 0.4% fall at midday. HSBC (0005.HK) leads with HK$210.53 million, then Tencent (0700.HK) with HK$190.32 million, China Co
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
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