| //23-11-2009 |
Deutsche Bank and ART HK today announced that Deutsche Bank has signed an agreement to be the lead sponsor of ART HK for an initial period of up to 5 years. ART HK is Hong Kong's largest and most important annual international art fair.
Michael West, Deutsche Bank's Head of Communications for Asia Pacific said, "Our sponsorship of ART HK is a reflection of both the scale and growth of Deutsche Bank in the Asia Pacific region and our longstanding global commitment to the arts. The success of ART HK in 2008 and 2009 demonstrates the high level of demand for a world-classart fair in the region."
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| //23-11-2009 |
Wells Fargo & Company (NYSE: WFC) announced today that it will purchase Auction Rate Securities (ARS) nationwide from eligible investors who bought ARS through one of three of its broker-dealer subsidiaries prior to February 13, 2008. Eligible investors will receive additional information regarding the terms of the buyback offer by mail within ninety (90) days.
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| //23-11-2009 |
Building on its commitment to a better environment and supporting a greener economy, Wells Fargo & Company (NYSE: WFC) today announced a new commercial banking group dedicated to supporting clean tech companies. Based in Palo Alto, Wells Fargo’s National Cleantech group will offer customized commercial banking products and services to businesses that manufacture, market or develop clean technology products and services, such as solar and wind power, energy and water efficiency, electric and low-emission vehicles, and smart grid applications.
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| //13-11-2009 |
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Net income attributable to common shares was C$101 million for the quarter ended 30 September 2009, a decrease of 15.8 per cent over the same period in 2008.*
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Net income attributable to common shares was C$300 million for the nine months ended 30 September 2009, a decrease of 34.5 per cent over the same period in 2008.*
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Return on average common equity was 11.8 per cent for the quarter ended 30 September 2009 and 11.7 per cent for the nine months ended 30 September 2009 compared with 13.6 per cent and 17.8 per cent respectively for the same periods in 2008.*
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| //12-11-2009 |
Profitability for the first nine months of 2009 was stronger than our expectations at the start of the year, as positive trends experienced in the first half continued into the third quarter. As a result, year to date pre-tax profit was ahead of the comparable period in 2008 on an underlying basis, excluding movements in fair value on our own debt related to credit spreads. On the same basis, pre-tax profit for the third quarter of 2009 ('Q3 2009') was significantly ahead of Q3 2008. On a reported basis, HSBC's performance in Q3 2009 was lower than in Q3 2008, largely due to fair value movements on our own debt caused by tightening credit spreads.
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| //12-11-2009 |
The global rally that began in March continued in September,
albeit with somewhat less momentum than in the summer. How
much further can stock prices rise? This depends on to what
extent the expected earnings improvement in 2010 has already
been priced in. Other supporting factors are the expected inflows
of funds into this asset class, the synchronous economic
upswing in all regions, and the continued easy monetary policy
conditions.
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| //12-11-2009 |
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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| //12-11-2009 |
According to the Financial Market Test Switzerland, carried out by Credit Suisse in cooperation with the Centre for European Economic Research (ZEW), economic expectations diminished somewhat in November. In the wake of the strong surge recorded in previous months, the relevant Credit Suisse ZEW Indicator lost ground by 8.6 points, but continued to hover at a high level of 56.4. At the same time, the assessment of the current economic situation once again turned out to be less pessimistic, with the corresponding indicator edging up by 8.8 points to the -46.2 mark. The lion’s share of the financial market experts surveyed (75.0%) still expect short-term interest rates to remain unchanged in the coming months. However, the relevant balance increased by 12.8 points to the 20.5 level in November. The balance for inflation expectations also rose, by 9.2 points to the 40.0 threshold. Although 55.0% of the survey participants still anticipate that inflation will hold steady, 42.5% believe that inflation rates will climb on a six-month horizon.
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| //12-11-2009 |
Zurich, November 12, 2009 – The Credit Suisse Sports Awards honors Switzerland's most successful sports personalities of the year. In 2009, three rising stars of the previous season are again in contention for the prestigious title of Newcomer of the Year. The nominees are Formula One racing driver Sébastien Buemi, cross-country skier Dario Cologna, and downhill skier Carlo Janka. Sports fans can submit their vote online at www.sports-awards.ch from November 16 to December 9, 2009. The winner of the newcomer vote will be announced at the Credit Suisse Sports Awards 2009 on December 12, 2009, at the St. Jakobshalle in Basel.
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| //11-11-2009 |
Credit Suisse today announced the launch of its new global advertising campaign. It reflects the bank’s integrated approach and its commitment to helping clients thrive.
A client-focused approach has always been one of the cornerstones of Credit Suisse’s business model and strategy. This partnership with clients distinguishes the bank at a time of tremendous change within the industry and is an important driver of future growth. Thanks to its integrated business model, which combines its expertise in private banking, investment banking and asset management, Credit Suisse is well positioned to compete successfully in the new industry landscape and to achieve further growth in selected key markets, both in Switzerland and internationally.
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| //10-11-2009 |
Wells Fargo receives honor at annual awards ceremony
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| //10-11-2009 |
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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| //10-11-2009 |
Deutsche Bank has been named Private Bank of the Year, by respected trade financial publication AsiaRisk in its October 2009 issue.
For its decision, the magazine cited Deutsche Bank’s Private Wealth Management (PWM) ability to leverage on its connectivity with its investment bank to provide private clients with access to unique investment opportunities that would otherwise have been unavailable to them.
“Deutsche PWM has performed a good job in providing its clients with the ideas and access to make their aspirations a reality,” AsiaRisk reported.
The awards will be formally presented at the AsiaRisk awards ceremony in Hong Kong on November 12, 2009.
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| //10-11-2009 |
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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| //10-11-2009 |
On October 27, 2009, as 236 billion of restricted shares held by initial shareholders released to the market since floatation three years ago, ICBC, the largest bank in the world in terms of market capitalization, vaults as the No.1 A-share quoted company.
The number of restricted shares held by the initial shareholders, Ministry of Finance and Central Huijin Investment Ltd, is nearly sixteenth-fold of capital stock in circulation, or 94% of the total A-share capital. The market cap of this portion of released shares is around RMB 1.2319 trillion which is approximately 5% of A-Share's total market value, if counted at the closing price of RMB 5.22 per share on October 26.
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| //09-11-2009 |
Nov. 9 (Bloomberg) -- Fewer U.S. banks tightened lending standards for companies and consumers in the third quarter as the economy grew for the first time in more than a year, a Federal Reserve survey showed.
Demand for most types of loans weakened at a smaller number of banks than in the second quarter, the Fed also said today in its quarterly Senior Loan Officer survey. For prime residential mortgages, a larger number of banks reported stronger demand, the central bank said.
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| //09-11-2009 |
When it comes to their retirement, America’s 50-somethings seem to be in a state of denial. Although the recent economic downturn has forced pre-retirees ages 50 to 59 to consider working years longer than they had hoped, their current rate of savings is unlikely to fund the retirement lifestyles they expect, according to fifth annual Retirement Fitness Survey from Wells Fargo & Company (NYSE:WFC).
Only 23% of pre-retirees are saving more for retirement than they were a year ago, the survey found. Most -- 57% -- are saving the same amount, and 20% are now saving less. 67% say their expectations for retirement have changed in the past year, and 56% now expect to work longer by an average of three additional years.
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| //09-11-2009 |
WASHINGTON (MarketWatch) -- Banks operating in the United States continued to restrict the availability of credit to consumers and business customers over the past three months, with only a few banks showing more willingness to lend, the Federal Reserve reported Monday.
Credit remained especially tight for commercial and industrial loans, commercial real estate loans and credit cards. Some banks were beginning to ease standards for residential mortgages.
Most banks said they would tighten standards for credit cards in reaction to recent legislation that outlawed some practices Congress said were abusive to customers.
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| //09-11-2009 |
Latest Small Business Administration (2009) and Community Reinvestment Act data (2008) demonstrate Wells Fargo’s lending leadership
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| //09-11-2009 |
The National Urban League announced today that it has entered a three-year, multi-million dollar partnership with Wells Fargo to address challenges within the African American community, starting with a focus on sustainable housing and community stabilization.
The partnership will be launched tonight during the National Urban League’s Equal Opportunity Day dinner in New York. John Stumpf, president and CEO of Wells Fargo, is chairing the benefit event.
During its first year, the multi-faceted relationship will include grants to selected National Urban League affiliates for foreclosure counseling , technical assistance for foreclosure prevention programs, staff training on foreclosure counseling and a significant presence at National Urban League events – including its annual conference. Wells Fargo’s Hands on Banking® financial education curriculum — which includes a focus on credit management—also will be an integral part of the campaign.
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