| //09-11-2009 |
Saxo Bank intends to speed up the development of its trading systems.
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| //09-11-2009 |
The Hongkong and Shanghai Banking Corporation Limited and the Bank of Communications Co. Ltd. (BoCom) are in advanced discussions to transfer their existing joint credit card activities in China to a newly established joint venture company.
HSBC has been a strategic investor of BoCom, China's fifth largest bank by total assets, since 2004. It holds a 19.01 per cent interest in BoCom and, through various agreements, co-operates with BoCom on over 60 initiatives including renminbi trade settlement, payments and cash management services and credit cards.
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| //04-11-2009 |
04.11.2009 Sustainable investment is no trend but a key sector for the future. Credit Suisse takes a holistic approach in this field. Roger Ammoun, Cleantech Specialist at Credit Suisse's Customized Fund Investment Group (CFIG), explains why the crisis also has some positive effects for the cleantech market.
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| //03-11-2009 |
Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) reported results for the third quarter and first nine months of 2009. Net income for the quarter was EUR 1.4 billion, up from EUR 414 million in the third quarter 2008. Expected taxation on pre-tax income was more than offset by specific tax items during the quarter. These items represent EUR 369 million of net tax benefits and mainly relate to tax audit settlements for prior years, which were partly offset by the revaluation of deferred tax positions. Diluted earnings per share were EUR 2.10, up from EUR 0.83 in the prior year period. Income before income taxes was EUR 1.3 billion, up from EUR 93 million in the third quarter 2008. Pre-tax return on average active equity for the quarter was 15%, compared to 1% in the prior year quarter. Per the Group's target definition, which excludes significant gains and charges, pre-tax return on average active equity was 14%.
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| //03-11-2009 |
Nearly two thirds (65 per cent) of people surveyed across the globe believe a new international deal to cut emissions is 'very important', according to the annual Climate Confidence Monitor released today. The 12 country study, commissioned by the HSBC Climate Partnership, sends a clear message to governments preparing to attend the UN climate change summit in December to agree on a policy framework to tackle climate change.
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| //02-11-2009 |
Bank of China Limited (“BOC” or “the Bank”, HKEx stock code: 3988, SSE stock code: 601988) announces its results for the third quarter of 2009.
During the first three quarters of 2009, the Bank continued to improve its market competitiveness, profitability and risk management capabilities, and achieved robust and sustainable growth based on prudent operation. In accordance with International Financial Reporting Standards (“IFRS”), during the first three quarters ended 30 September 2009, BOC recorded RMB 62.23 billion in profit attributable to shareholders, up by 3.82% year-on-year. Earnings per share for the first three quarters reached RMB 0.25, up by RMB 0.01 year-on-year. Return on equity (ROE) was 17.36%. During the first three quarters, BOC maintained the trend of improvement in its operation, successfully reversed the trend of year-on-year decrease for the first half and achieved growth for the profit during the first three quarters. The Bank achieved RMB 21.107 billion in profit attributable to shareholders for the third quarter of 2009, an increase of 18.83% year-on-year.
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| //02-11-2009 |
Wells Fargo & Company (NYSE: WFC) announced a quarterly common stock dividend of $0.05 per share. The dividend is payable December 1, 2009, to stockholders of record on November 6, 2009. The Company has approximately 4.7 billion shares outstanding.
Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores and 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.
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| //02-11-2009 |
The Hongkong and Shanghai Banking Corporation Limited and the Bank of Communications Co. Ltd. (BoCom) are in advanced discussions to transfer their existing joint credit card activities in China to a newly established joint venture company.
HSBC has been a strategic investor of BoCom, China's fifth largest bank by total assets, since 2004. It holds a 19.01 per cent interest in BoCom and, through various agreements, co-operates with BoCom on over 60 initiatives including renminbi trade settlement, payments and cash management services and credit cards.
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| //01-11-2009 |
Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) and the owners of Sal. Oppenheim jr. & Cie. S.C.A. announced the signing of a framework agreement which will allow Deutsche Bank to acquire 100 per cent of Sal. Oppenheim Group at a price of EUR 1.0 billion. The present shareholders in Sal. Oppenheim have the option of a long-term shareholding of up to 20 percent of the German subsidiary Sal. Oppenheim jr. & Cie. KGaA based in Cologne
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| //01-11-2009 |
A unique industry initiative to develop a reliable, sustainable and climate-friendly energy supply from the deserts in the Middle East and North Africa (MENA) is now taking shape. Today in Munich the articles of association for the DII GmbH (limited liability company) were signed by the group of founding members consisting of twelve companies and the DESERTEC Foundation. The DII aims at accelerated implementation of the DESERTEC concept, as proposed by the DESERTEC Foundation. This work of the DII will entail a thorough analysis and the establishment of a framework for investments to supply the MENA region and Europe with power produced using solar and wind energy sources. The long-term goal is to satisfy a substantial part of the energy needs of the MENA countries and meet as much as 15% of Europe’s electricity demand by 2050.
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| //01-11-2009 |
3rd consecutive quarter of record earnings
- Record Wells Fargo net income of $3.2 billion, up 98 percent from last year; $9.5 billion year to
date, up 75 percent from last year
- Diluted earnings per common share of $0.56, up 14 percent from last year; $1.69 per share year to
date
- Results driven by record $10.8 billion pre-tax, pre-provision profit (PTPP); PTPP has been more
than two times quarterly net charge-offs each quarter this year, despite cyclically elevated net
charge-offs. (See footnote 4 on page 20 for information on PTPP)
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| //29-10-2009 |
London, 29 October 2009 - Standard Chartered has continued to make good progress during the third quarter of 2009, building on the record income and profits in the first half of the year. We continue to benefit from the growth opportunities across our broad and diverse franchise and our continued deliberate focus on capital and liquidity strength remains a source of competitive advantage.
It is clear that the economies in Asia are rebounding and they remain resilient. Their economic growth rates remain well above the rates of growth for markets in the West. This greater resilience is also attracting increased levels of competitive behaviour from both local and international banks.
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| //24-10-2009 |
Oct. 24 (Bloomberg) -- U.S. regulators closed more than 100 banks in a single year for the first time since 1992, signaling the financial crisis hasn’t abated for lenders struggling with mounting losses tied to commercial real estate.
Seven banks -- three in Florida and one each in Georgia, Wisconsin, Minnesota and Illinois -- were shut yesterday, according to the Federal Deposit Insurance Corp., pushing this year’s total to 106. That’s the most since the savings-and-loan crisis led regulators to shutter 179 institutions in 1992.
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| //23-10-2009 |
To provide increased access to financial products and resources for U.S. travelers going abroad, Wells Fargo & Company (NYSE:WFC) has expanded its Foreign Exchange website, now allowing travelers to choose from more than 70 currencies.
With an increase in non traditional travel destinations, the demand for purchasing currencies has also risen. Previously only offering 14 major currencies online, Wells Fargo now provides access to more than 70 currencies, including Argentina, Egypt, Morocco, Paraguay, Russia and Vietnam. With a streamlined ordering process, Wells Fargo also provides customers with exact exchange rates for their transaction and an estimated delivery date based on the currency they order, allowing customers to be fully informed of their purchases.
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| //23-10-2009 |
Significant increases in demand for food in emerging markets, coupled with increasing constraints on the ability to grow more crops, will make the scarcity of food a more pressing issue around the world – leading to sustained food price rises, whilst deepening food security issues in Asia, Africa and the Middle East, according to a report by Standard Chartered Global Research published today.
Food production would need to rise another 70 per cent by 2050 to feed the world’s population, with constraints to production growth becoming more pressing. Water will become scarcer, restricted availability of arable land will increase imbalances in food production, whilst rising biofuels production will deny an increasing amount of grain output for human consumption. Whilst food production will continue to rise, the gap between increasing demand and slowing supply will ensure food prices will rise - and stay high.
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| //23-10-2009 |
HSBC Insurance (Asia Pacific) Holdings Limited (HSBC) has signed an agreement to increase its shareholding in Bao Viet Holdings, Vietnam's leading insurance and financial services group to 18 per cent from 10 per cent currently for VND1.88 trillion (approximately US$105.3 million).
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| //22-10-2009 |
3rd consecutive quarter of record earnings
- Record Wells Fargo net income of $3.2 billion, up 98 percent from last year; $9.5 billion year to
date, up 75 percent from last year
- Diluted earnings per common share of $0.56, up 14 percent from last year; $1.69 per share year to
date
- Results driven by record $10.8 billion pre-tax, pre-provision profit (PTPP); PTPP has been more
than two times quarterly net charge-offs each quarter this year, despi
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| //21-10-2009 |
From October 21, 2009, to March 28, 2010, the Solomon R. Guggenheim Museum in New York is showing the exhibition "Anish Kapoor: Memory." The presentation of this extraordinary sculpture marks the beginning of "The Deutsche Bank Series at the Guggenheim." In this series, the museum will present commissioned works and projects which had their premiere at Deutsche Guggenheim. At the same time, the series represents a high point of the unique global cooperation between Deutsche Bank and the Solomon R. Guggenheim Foundation, which have jointly run the successful Berlin exhibition hall since 1997.
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| //21-10-2009 |
Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) expects that the pre-tax income for the third quarter 2009 will be in the range of EUR 1.3 billion. Moreover, Deutsche Bank anticipates tax credits for the quarter, reflecting primarily the impact of tax exempt income as well as the successful resolution of a number of tax audits relating to prior years. As a result of these factors, net income is currently estimated of approximately EUR 1.4 billion. The Tier 1 capital ratio is expected to be approximately 11.7 per cent at the end of the third quarter. It is expected that all business segments will report positive results.
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| //20-10-2009 |
Deutsche Bank announced today that it has signed a heads of agreement with the Dutch Ministry of Finance to acquire parts of ABN AMRO's commercial banking activities in the Netherlands. The assets to be acquired remain the same as those in the original agreement announced on July 2, 2008. Negotiations continue on final terms and conditions.
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