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  • March 27- Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators. Drillship operators face a more brutal hit to margins than they did after the oil-price crash of 2008 because of the huge cost of maintaining the more than $10...

  • March 27- Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators. Drillship operators face a more brutal hit to margins than they did after the oil-price crash of 2008 because of the huge cost of maintaining the more than $10...

  • Franc fallout sparks prime broking shake-out Friday, 27 Mar 2015 | 11:19 AM ET

    The market's biggest player, Citigroup, has rationalised its client base, jettisoning a number of smaller customers, and rival top level banks have proved reticent in providing them with an alternative home, several market sources said. Other major players include Deutsche Bank, BNP Paribas, JP Morgan and Bank of America Merrill Lynch. "Unless someone like JP...

  • NEW YORK, March 27- The dollar posted minor gains against the euro on Friday while slipping slightly against the yen and the Swiss franc as bullish bets on the dollar lost some steam ahead of comments from Federal Reserve Chair Janet Yellen. Yellen will speak on monetary policy in San Francisco at 3:45 p.m. EST and traders will keep an ear out for clues on when the...

  • But a U.S. regulator cited the email as evidence that Nomura Holdings Inc and RBS made false statements about mortgage securities they sold to Fannie Mae and Freddie Mac. The FHFA's case is the first to reach trial out of 18 lawsuits the regulator filed in 2011 over some $200 billion in mortgage-backed securities that various banks sold Fannie Mae and Freddie...

  • FRANKFURT, March 26- Rock-bottom interest rates could erode insurers' earnings power and financial strength for years to come, putting an end to a string of stronger-than-expected rises in dividends, analysts said in reports published on Thursday. Moody's said life insurers in Germany, the Netherlands, Norway and Taiwan were the most exposed to interest rate...

  • EU signals further divergence from global banking rules Thursday, 26 Mar 2015 | 8:23 AM ET

    LONDON, March 26- The European Union will continue to diverge from global banking regulations where necessary to avoid overburdening smaller lenders, the bloc's financial services chief said on Thursday. Hill said he would "differentiate" from other Basel rules, too, in an effort to ensure that EU legislation is proportionate and takes into account different...

  • LONDON, March 24- Ukraine is trying to persuade bondholders to restructure debt to allow it to plug a $15.3 billion funding gap in a $40 billion bailout package led by the International Monetary Fund. Ukraine 23- Sep-15 6.875 USD 500 Ukraine 13- Oct-15 4.950 EUR 680 Ukraine 20- Dec-15 5.000 USD 3000 Ukraine 17- Jun-16 6.250 USD 1250 Ukraine 21- Nov-16 6.580 USD...

  • Ukraine bondholders face haircuts and extensions Wednesday, 25 Mar 2015 | 9:50 AM ET

    But Ukraine, as the country's finance minister points out, lacks the wealthy, albeit grudging euro zone backers that Athens has, and its $40 billion bailout is modest compared with the 240 billion euro Greek rescue. Creditors are preparing for battle, not least Russia, which is locked in conflict with Ukraine and holds $3 billion worth of the bonds.

  • Pirelli rises after takeover bid from ChemChina. Shares in Pirelli outperformed, rising 2.5 percent after China National Chemical Corp agreed to buy the Italian tire maker in a 7.1 billion euro deal. The acquisition, agreed with Pirelli shareholders on Sunday, will see state-owned ChemChina take over the world's fifth-largest tire maker and one of the...

  • European shares slip from 7-1/2 year high Monday, 23 Mar 2015 | 5:06 AM ET

    *Pirelli rises after takeover bid from ChemChina. PARIS, March 23- European shares slipped on Monday, taking a breather following recent sharp gains, while shares in Pirelli rose 3.5 percent after China National Chemical Corp agreed to buy the tyre maker in a 7.1 billion euro deal. The acquisition, agreed with Pirelli shareholders on Sunday, will see state-owned...

  • Chinese property developer Kaisa Group, illustrates the challenges for investors holding uninsured corporate debt: Kaisa is trying to restructure 48 billion yuan of debt and is mired in crisis after the local government in its home base of Shenzhen blocked sales at some of its projects last year, leaving investors shell-shocked. A debt restructuring plan...

  • NEW YORK, March 22- Benjamin Lawsky, New York state's financial services regulator, has added himself to the regulators investigating Deutsche Bank AG for manipulation of the Libor benchmark borrowing rate, the Financial Times reported on Sunday, citing unnamed sources. The New York Department of Financial Services' probe of the German bank marks the first...

  • FRANKFURT, March 21- Deutsche Bank's retail operations will bear the brunt of its planned restructuring and will most likely be spun off in a stock market listing, two sources familiar with internal discussions at Germany's biggest bank said on Saturday. The proposal marks a dramatic shift from Deutsche Bank's "universal" strategy that sees it sell everything...

  • FRANKFURT, March 21- Deutsche Bank's retail operations will bear the brunt of its planned restructuring and will most likely be spun off in a stock market listing, two sources familiar with internal discussions at Germany's biggest bank said on Saturday. The proposal marks a dramatic shift from the bank's "universal" strategy that sees it sell everything from...

  • Compensation for Deutsche Bank's two co-chief executives, Juergen Fitschen and Anshu Jain, shrank 11 percent to 6.66 million euros each, the lender said in its annual report.

  • *HSBC becomes first major FX player to raise euro targets. LONDON, March 20- If 25 countries cutting rates since the start of the year wasn't proof enough, this week's warning from Janet Yellen about the dollar's strength confirmed that the world's top central banks are fighting a currency war. From the ECB with its 1 trillion euro QE bazooka, China, India and Russia...

  • *ICE Benchmark Administration operating new process. LONDON, March 20- The new London Bullion Market Association Gold Price went live for the first time on Friday, with Goldman Sachs and UBS joining the four members of the now defunct gold "fix" in setting its electronic replacement. Goldman and UBS joined Barclays, HSBC, Bank of Nova Scotia and Societe Generale to...

  • New York, March 19- A majority of Wall Street's top banks now see the Federal Reserve holding off until at least September before raising interest rates for the first time since 2006 after the U.S. central bank on Wednesday downgraded its assessment on the economy and forecast a gentler path of rate hikes over the next two years. Just two weeks ago, the top...

  • LONDON, March 19- HSBC went against the overwhelming consensus for euro weakness on Thursday by raising its euro forecast to $1.20 by the end of 2017, arguing that the dollar's explosive rally was nearing its end. The pace of the euro's fall, overwhelmingly one-sided market positioning, stretched valuations, and signs the strong dollar is beginning to have a...