Diversified Financial Services Specialized Finance

  • MEXICO CITY, Sept 12- Weak growth, low oil prices and difficulties in making promised spending cuts all threaten Mexico's push for a budget surplus next year as credit rating agencies consider downgrading its debt. Standard& Poor's and Moody's put Mexico's credit outlook on negative this year, flagging concerns that weak growth could keep pushing up debt after...

  • Sept 12- Equity derivatives clearing organization Options Clearing Corp said on Monday it had extended Chief Executive and Executive Chairman Craig Donohue's term by three years. He was CEO of CME Group Inc from January 2004 until May 2012. Donohue also announced several changes to OCC's leadership structure on Monday, including Scot Warren being promoted...

  • Sept 12- Sales practices at Wells Fargo& Co that led to $190 million in regulatory fines and penalties last week have negative credit implications for the bank, rating agency Moody's Investors Service said on Monday. Last Thursday, regulators including the U.S. Office of the Comptroller of the Currency, the U.S. Consumer Financial Protection Bureau, and the Los...

  • Sept 12- Sales practices at Wells Fargo& Co that were too aggressive and led to $190 million in regulatory fines and penalties last week have negative credit implications for the bank, credit rating agency Moody's Investors Service said on Monday.

  • MUMBAI, Sept 9- BSE Ltd, India's second-biggest stock exchange, on Friday filed for a long-awaited initial public offering, seeking to list its shares on larger rival National Stock Exchange. Financial sector listings especially have been lapped up by investors, with stocks such as RBL Bank and Ujjivan Financial Services surging after their debuts.

  • MUMBAI, Sept 9- BSE Ltd, India's second-biggest stock exchange, filed a draft prospectus on Friday for its initial public offering and said it would list its shares on larger rival the National Stock Exchange. Founded in 1875, BSE, whose first venue for broker meetings was under a banyan tree in the financial capital Mumbai, has long been considering an IPO.

  • *Downgrade of Poland is unlikely, but worries linger. BUDAPEST/ WARSAW, Sept 9- The zloty led a retreat of Central European currencies due to worries that Moody's may downgrade Poland's rating in a review expected after European markets close on Friday. It still has the highest rating on Poland among the three major rating agencies after a downgrade from Standard&...

  • The change is effective on Oct. 12 pending regulatory review by the Chicago Futures Trading Commission. The adjustment will allow CME's rules to be consistent with the negotiated formula hog purchase method that was created when the U.S. Congress reauthorized the Livestock Mandatory Reporting program on Sept. 30, 2015. Beginning on Oct. 12, the USDA's National...

  • SAO PAULO, Sept 5- Société Mondiale, a minority shareholder in Brazil's largest fixed-line carrier OI SA, said on Monday an arbitration ruling obliges the company to hold a shareholders' meeting on Sept. 8 as demanded by the activist investor. The ruling was issued on Sept. 5 by the arbitration chamber of the Brazilian stock market operator BM&F Bovespa SA,...

  • FRANKFURT, Sept 1- Online travel group Expedia has started preparations for a stock market listing of its Trivago hotel search platform, which may be valued at more than $1 billion, people familiar with the matter said. Expedia, one of the world's largest online travel services companies, has asked investment banks to pitch for roles in a initial public offering,...

  • TOKYO, Sept 1- Standard& Poor's Ratings Services on Thursday affirmed Japan's A+/ A-1 sovereign debt rating and maintained a stable outlook despite its heavy debt burden, saying political stability and stable financial system offset fiscal woes. The rating agency said it expected Japan's nominal economic growth to average 2 percent, and negative interest...

  • NEW YORK, Aug 29- When hackers penetrated a secure authentication system at a bitcoin exchange called Bitfinex earlier this month, they stole about $70 million worth of the virtual currency. The cyber theft-- the second largest by an exchange since hackers took roughly $350 million in bitcoins at Tokyo's MtGox exchange in early 2014-- is hardly a rare occurrence in...

  • NEW YORK, Aug 29- When hackers penetrated a secure authentication system at a bitcoin exchange called Bitfinex earlier this month, they stole about $70 million worth of the virtual currency. The cyber theft-- the second largest by an exchange since hackers took roughly $350 million in bitcoins at Tokyo's MtGox exchange in early 2014-- is hardly a rare occurrence in...

  • HONG KONG, Aug 29- China's banking system faces a systemic risk from a significantly increased reliance by small and mid-tier lenders on interbank funding, top credit rating agency Moody's Investors Service warned on Monday. "With an increasingly larger number of banks now more actively engaged in the interbank financial product business, the banks are...

  • LONDON, Aug 26- Big financial groups in London are losing faith in a quick fix to get access to the European Union after Britain leaves the bloc and are instead drawing up contingency plans to avoid becoming hostage to Brussels politics. In the aftermath of Britain's vote to leave the EU, legal experts said banks, insurers and asset managers in London using...

  • LONDON, Aug 25- Europe's biggest stock exchange Bats Europe could open a base outside London following Brexit, its head told Reuters, voicing doubts about whether the City of London would secure sufficient access to the European market. Bats Europe accounts for about 24 percent of daily trading in European shares and a shift of UK operations of one of the...

  • LONDON, Aug 25- Europe's biggest stock exchange Bats Europe could open a base outside London following Brexit, its head told Reuters, voicing doubts about whether the City of London would secure sufficient access to the European market. Bats Europe accounts for about 24 percent of daily trading in European shares and a shift of UK operations of one of the...

  • NEW YORK, Aug 19- IEX Group, the upstart trading venue featured in Michael Lewis's book "Flash Boys: A Wall Street Revolt," began operations as a public stock exchange on Friday after more than 2-1/ 2 years as an off-exchange trading platform. The Investors' Exchange is the 13th U.S. stock exchange and will compete with the likes of Nasdaq Inc, Bats Global Markets and...

  • SHANGHAI, Aug 18- Hong Kong shares followed Asian markets higher on Thursday as minutes from the U.S. A launch date for the Shenzhen-Hong Kong Connect has yet to be announced, but the Hong Kong exchange operator hopes it can kick off before Christmas. Traders say while much of the impact of the scheme has already been priced in, expectations of fresh money inflows...

  • HONG KONG, Aug 17- A plan to connect the giant stock markets of Shenzhen and Hong Kong offers global investors tempting access to China's fast-growing tech sector, but high valuations and a reputation for wild speculation are likely to keep many buyers at bay, money managers said on Wednesday. "Investors aren't very enthusiastic about Shenzhen because the...