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Investment Banking and Brokerage

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  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC will shed almost 50,000 jobs and take an axe to its investment bank, cutting the assets of Europe's biggest lender by a quarter in a bid to simplify and improve its sluggish performance. The cuts will leave HSBC with about 208,000 full-time equivalent staff by 2017, down from...

  • *Picks Fransi Capital, GIB Capital, NCB Capital for deal. DUBAI, June 9- Saudi Arabia's Al Othaim Real Estate and Investment Co, owner of five shopping malls in the kingdom, has revived plans to issue a debut local currency Islamic bond, probably after the summer, two sources aware of the matter said on Tuesday. Also known as Othaim Malls, the firm has picked the...

  • *HSBC to cut risk weighted assets by $290 bln. HONG KONG, June 9- HSBC will cut almost 50,000 jobs from its payroll, take an axe to its investment bank and shrink its risk weighted assets by $290 billion in an effort to improve its sluggish performance, Europe's biggest bank said on Tuesday. However the cuts, to be completed by 2017, will be followed by some hiring in...

  • *HSBC to cut risk weighted assets by $290 bln. *HSBC targets growth in Asia insurance, Guangdong province. HONG KONG, June 9- HSBC will take an axe to its investment bank and seek to cut up to $5 billion in costs in an effort to improve its sluggish performance, Europe's biggest bank said on Tuesday.

  • FRANKFURT/ LONDON June 8- John Cryan faces the briefest of honeymoons as chief executive of Deutsche Bank. Investors believe the Briton is a more credible contender than his predecessors to revive the fortunes of Germany's largest bank and its shares rose 8 percent on Monday after the weekend departure of co-executives Anshu Jain and Juergen Fitschen.

  • SunGard was acquired for $11.4 billion in 2005 by Silver Lake Partners LP, TPG Capital LP, Bain Capital LLC, Blackstone Group LP, Goldman Sachs Capital Partners LP, KKR& Co LP and Providence Equity Partners Inc.. JP Morgan, Barclays and Goldman Sachs are among the underwriters to the IPO, the company said. The company posted a net loss of $222 million, compared with a...

  • CHINA'S GUOTAI JUNAN SECURITIES GETS APPROVAL FOR SHANGHAI. BEIJING, June 3- Guotai Junan Securities Co Ltd, China's third-largest stock broker by profit, has received approval to sell shares on the Shanghai Stock Exchange, the country's securities regulator said in a statement late on Wednesday. The Shanghai- based firm could raise up to 30 billion yuan, based...

  • June 1- Bank of America Corp has hired Brad Hutchinson from Barclays Plc to co-head its Americas energy investment banking business alongside Oscar Brown, according to an internal memo seen by Reuters. Brown and Hutchinson worked together for over a decade at Lehman Brothers Holdings Inc and Barclays before Brown moved to Bank of America in 2010..

  • SHANGHAI, June 1- China stocks rose sharply on Monday morning, as investors took a positive view on fresh official economic surveys and welcomed a chorus of domestic media commentary asserting the bull market has not yet ended. In Hong Kong, both the Hang Seng index and the Hong Kong China Enterprises Index were up 0.7 percent. Growth in China's giant factory...

  • World's second biggest IPO this year disappoints Sunday, 31 May 2015 | 11:19 PM ET

    Shares of Huatai Securities, Asia's largest listing this year, opened with a whimper, defying the gains seen in Hong Kong's other recent IPOs.

  • SHANGHAI, June 1- The brokerage unit of Chinese financial firm Shenwan Hongyuan Group Co Ltd will stop lending money to clients to buy shares in Ping An Insurance Group, the latest move in China's drive to tighten margin financing rules to curb stock market risks fueled by a record amount of borrowed money. In a statement posted on its website after Friday's...

  • Simple trading for millennials Sunday, 31 May 2015 | 8:42 PM ET
    Simple trading for millennials

    A new global ETF will offer simple trading solutions for younger people, says Mikaal Abdulla, CEO of 8 Securities.

  • May 29- Humana Inc is considering selling itself after receiving multiple expressions of takeover interest, a person familiar with the matter said on Friday, highlighting the potential for further consolidation in the U.S. health insurance industry. Humana is working with investment bank Goldman Sachs Group Inc on the potential sale, the person said, asking...

  • ISTANBUL, May 29- ING Group NV, BNP Paribas and Bahrain- based Arab Banking Corp have submitted bids to buy HSBC's Turkish business, a source familiar with the process said on Friday. Four other sources said Dutch lender ING was interested in buying HSBC's Turkish business, comprising corporate and investment banking operations as well as a loss-making retail...

  • SHANGHAI, May 28- China's stock markets plunged on Thursday, with indexes dropping over 6 percent in record high turnover as investors rushed to sell after more brokers tightened margin trading requirements for clients and the central bank drained money market liquidity. The Shanghai Stock Exchange saw A share turnover hit 1.2 trillion yuan, an all time...

  • SHANGHAI, May 28- China's stock markets plunged on Thursday, with indexes dropping over 6 percent in record high turnover as investors rushed to sell after more brokers tightened margin trading requirements for clients and the central bank drained money market liquidity. The Shanghai Stock Exchange saw A share turnover hit 1.2 trillion yuan, an all time...

  • SHANGHAI, May 28- China's stock markets plunged on Thursday, with indexes dropping over 6 percent in record high turnover as investors rushed to sell after more brokers tightened margin trading requirements for clients and the central bank drained money market liquidity. The Shanghai Stock Exchange saw A share turnover hit 1.2 trillion yuan, an all time...

  • May 26- Jimmy John's Franchise LLC is preparing for an initial public offering that could value the popular U.S. gourmet sandwich chain at more than $2 billion, including debt, according to people familiar with the matter. Jimmy John's, which is owned by founder Jimmy John Liautaud as well as private equity firm Weston Presidio, is interviewing investment banks...

  • NEW YORK, May 22- Citigroup said on Friday it is selling its margin foreign exchange business, including the CitiFX Pro and TradeStream platforms to U.S.-based FXCM and Danish investment bank SAXO Bank. FXCM filed an 8 K form with the U.S. Securities and Exchange Commission that the company would "assume the vast majority of margin forex accounts of CitiFX Pro...

  • LONDON, May 22- French bank BNP Paribas is reviewing its global markets business in London in an attempt to cut costs and improve its profitability, a person familiar with the matter said on Friday. BNP Paribas has about 4,100 staff in its corporate and institutional banking business in Britain. Efinancial News earlier reported BNP Paribas' rates and fixed...