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Investment Banking and Brokerage

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  • March 3- Bank of Nova Scotia, Canada's No. 3 lender, reported a lower-than-expected quarterly profit, hurt by higher provisions and a "softer" performance in its investment banking business. Provisions for credit losses jumped 30 percent to C $463 million in the first quarter ended Jan. 31. Net income rose to C $1.73 billion, or C $1.35 per share, in the first quarter,...

  • *Bid speculation also boosts Vallourec. Bid rumours also drove up the shares of French steel pipe maker Vallourec, which rose 7 percent after investment bank Macquarie said Vallourec could be a bid target. Vallourec declined to comment on the speculation.

  • KIEV, March 2- Before she was appointed to head Ukraine's central bank last June, Valeriia Gontareva was praised as one of the most successful investment bankers in the country. outside her office in Kiev. Certainly, no central banker would envy her record on paper: in less than nine months since she took office, the hryvnia has fallen to around 30 to the dollar from...

  • KIEV, March 2- Before she was appointed to head Ukraine's central bank last June, Valeriia Gontareva was praised as one of the most successful investment bankers in the country. outside her office in Kiev. Certainly, no central banker would envy her record on paper: in less than nine months since she took office, the hryvnia has fallen to around 30 to the dollar from...

  • JOHANNESBURG, March 2- Angola's central bank will probably have to devalue the kwanza and raise interest rates this year as a sharp drop in oil prices saps foreign exchange supply, the Angolan unit of Africa- focused investment bank Imara Securities said on Monday. Oil-dependent Angola slashed $17 billion off its budget this year due to the drop in the price of...

  • NEW YORK, March 2- From its tower on Wall Street, Deutsche Bank enjoys a commanding view of lower Manhattan. That helped it close the global revenue gap with rivals like JP Morgan and Bank of America Merrill Lynch and put it within striking distance of No. 5- ranked Citigroup. It wants to take on U.S. investment banks on their turf and in February for example poached...

  • *Germany's DAX share index sets new record high. *Royal Bank of Scotland falls after reporting losses. Germany's DAX set a new life-time high, the pan-European FTSEurofirst 300 and the broader STOXX 600 share indexes climbed to their highest level in more than seven years, and France's CAC touched its highest level since mid-2008.

  • European stocks set new multi-year highs, InBev helps Thursday, 26 Feb 2015 | 10:26 AM ET

    *Royal Bank of Scotland fall after reporting losses. LONDON, Feb 26- Major European share indexes climbed to new multi-year highs on Thursday, with the world's largest brewer Anheuser-Busch InBev leading the food and beverages sector higher after announcing a sharply higher dividend and a share buyback plan. Belgium- based InBev rose 3.2 percent after...

  • *RBS to cut investment bank assets by over 60 pct. *Howard Davies confirmed as chairman. LONDON, Feb 26- Royal Bank of Scotland will drastically shrink its investment banking operations, pulling out of 25 countries across Europe, Asia and the Middle East and allowing the state-controlled lender to refocus on local lending in Britain.

  • SAO PAULO, Feb 25- Grupo BTG Pactual SA, Latin America's largest independent investment bank, missed fourth-quarter profit estimates on Wednesday after trading income fell short of forecasts and loan-loss provisions soared as a large client fell in arrears. Corporate lending, a key revenue line, fell to 97 million reais, the lowest in more than three years, as BTG...

  • Brokerage firms file an average of five reports each per year, a number that is "disconcerting" and "far too low" given the and industry's volume of transactions, said Andrew Ceresney, director of the SEC Division of Enforcement, in prepared remarks. The SEC is considering enforcement cases against brokerages whose reporting efforts fall short, Ceresney said at an...

  • JPMorgan to close 5% of bank branches Tuesday, 24 Feb 2015 | 2:51 PM ET

    The expense of teller transaction and popularity of online banking leads company to cut brick-and-mortar locations.

  • *RBS under pressure to focus on lending in Britain. LONDON/ HONG KONG, Feb 24- Royal Bank of Scotland will hand restructuring chief Rory Cullinan the task of overseeing another major scaling back of its investment bank, sources told Reuters, allowing it to focus on lending to British households and businesses. Chief Executive Ross McEwan said last year that he...

  • Stifel CEO: Yellen testimony critical  Tuesday, 24 Feb 2015 | 8:36 AM ET

    A lot of people are going to be looking at what the Fed will do, says Ronald Kruszewski, Stifel Financial CEO.

  • NEW YORK— Stifel Financial Corp. is buying rival financial services firm Sterne Agee for $150 million, boosting its presence in money management and fixed income. It's the latest move by Stifel, whose other large purchases include the investment advisory unit of Legg Mason last year, the investment bank KBW in 2013 and Thomas Weisel in 2010..

  • EU investment bank chief: red tape scaring investors Monday, 23 Feb 2015 | 8:01 AM ET

    BRUSSELS— The head of the European Investment Bank says that private investors are discouraged from putting money into major European Union infrastructure projects because of red tape and lack of budgetary reform. Werner Hoyer said Monday that when he asks potential investors what is scaring them off "they come with regulation, and they come with...

  • Feb 20- Two former Barclays stockbrokers can keep nearly $4 million in signing bonuses, an arbitration panel has ruled, handing down a rare rebuke of a controversial recruiting practice common among brokerage firms. Barclays had tried to claw back the bonuses from brokers Ileana Platt and Rafael Urquidi after the pair filed a claim with Financial Industry...

  • CHICAGO, Feb 19- The chairman of the U.S. National Futures Association, who led the regulator during broker scandals that rocked confidence in the industry, was re-elected on Thursday but told Reuters he plans to step down after that term ends. Hehmeyer, the non-executive director of Wedbush Futures, served as NFA chairman when broker Peregrine Financial Group...

  • LONDON, Feb 19- Britain's Financial Conduct Authority said on Thursday it will review competition in investment banking and corporate banking services, citing "unanswered questions about potential conflicts of interest and value for money in this market." Personal accounts and small business banking is already the subject to a full investigation by...

  • LONDON, Feb 19- Britain's financial watchdog will launch its first review of competition in investment banking and corporate banking services, saying the benefits of improvements could be high. The Financial Conduct Authority said that banks that were bundling and cross-selling their services could be making it difficult for new entrants to compete.