Posts belonging to Category banks



Deutsche Bank mulls cutting 10,000 staff globally

City jobs in firing line

The City is braced for swingeing cuts at Deutsche Bank as the beleaguered banking giant considers cutting 10,000 jobs globally, equivalent to one in 10 of its staff, according to reports.

It is understood the redundancies will be focused in the German lender’s investment bank, which employs more than 8,000 people in the UK.

Globally the unit employs 40,000 of the lender’s total 97,000 workforce.

https://www.telegraph.co.ukcom/

FBI and Justice Dept. investigating Cambridge Analytica

Cambridge Analytica ties to the Trump Campaign under scrutinity

Cambridge Analytica, the highly scrutinized data firm that had ties to the Trump campaign, is under investigation by the Department of Justice and the FBI, according to The New York Times, which cited an American official and other individuals familiar with the matter.

The probe into the firm has led to prosecutors querying its former employees and banks that handled its business dealings, The New York Times reported Tuesday. However, according to The Times’ report, the investigation seems to be in its beginning stages.
Facebook announced in March it was suspending the data firm over concerns that the group had violated the social media platform’s policies and had misused the personal data of millions of its users.

https://www.cnn.com/

The richest families in the world

33 rich people listed by the Sunday Times

The Sunday Times has published its much-anticipated Sunday Times Rich List for 2018, which ranks the wealthiest people in Britain, as well as the rest of the world— and it gives readers a sneak peek into the net worth of some of the world’s most successful entrepreneurs, self-made billionaires, and family groups.

https://www.businessinsider.com/

Takeda buys Shire for $62 billion

Stock decline nearly 20 percent due to doubts about the deal

After five proposals and more than month of back-and-forth, it looks like this thing is happening. Takeda Pharmaceutical Co Ltd. agreed Tuesday to purchase rare-disease drugmaker Shire Plc for $62 billion. But this blockbuster deal comes with blockbuster risk. Takeda will be paying a steep premium and taking on big debt to acquire a company with uncertain prospects.
Takeda’s desire for geographic and drug diversification led it to overlook a lot of warts. Shire’s hemophilia business provides more than a quarter of its revenue. It faces near-term peril from Roche Holding AG’s recently launched Hemlibra, and long-term threats from potential one-time treatments being developed by companies such as BioMarin Pharmaceutial Inc. that could reduce demand for Shire’s older drugs.

Shire has an attractive pipeline of high-margin rare-disease drug candidates, but its research projects will have to over-deliver in order to compensate for competitive threats to current core business. The substantial research and development cuts that Takeda plans if the deal goes through won’t help.

 https://www.bloomberg.com/

Bitcoin’s victory

Wall Street Will SoonTrade Virtual Currency

Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world.

The parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin, according to emails and documents viewed by The New York Times and four people briefed on the effort who asked to remain anonymous because the plans were still confidential.

The news of the virtual exchange, which has not been reported before, came after Goldman Sachs went public with its intention to open a Bitcoin trading unit — most likely the first of its kind at a Wall Street bank.

15 companies likely to get bought this year

Morgan Stanley list

Wall Street expects M&A activity to accelerate in 2018, which should create opportunities for investors looking to profit from accompanying stock spikes. After all, when an acquisition offer is made, the company being bought usually sees its share price increase. So the process is simple — identify potential acquisition targets, buy them, and hope a deal gets announced.

The firm Morgan Stanley has developed a model that sorts stocks by acquisition likelihood. The methodology involves calculating the probability that a company will be on the receiving end of at least one tender offer. And in figuring out its list, Morgan Stanley weighs a combination of cohort information and stock-specific fundamentals. Without further ado, here are 15 stocks that the firm says are among the most likely to receive an acquisition offer sometime in the next 12 months:

SpaceX’s Valuation Climbs to $25 Billion

Company authorized raising $507 million on April 5

The value of Elon Musk’s Space Exploration Technologies Corp. keeps reaching new heights.
The rocket maker authorized a $507 million fundraising round on April 5 at a valuation of about $25 billion, according to PitchBook Data. With that increase in SpaceX’s worth, Musk’s fortune would rise about $1.4 billion to $21.3 billion, according to Bloomberg Billionaires Index calculations.
http://www.bloomberg.com/

The Greatest Bubble in History ?

Bank of America “Kills” Bitcoin for 278th Time

The Bitcoin Bubble is popping… this time for real… because Bank of America says so. For the 278th Time.

Bitcoin is not only the king of cryptos but also the king of bubbles. According to Bloomberg, a study by Bank of America Merrill Lynch on the behavior and evolution of Bitcoin’s prices places it as the most significant asset price bubble in history.

The study compares the price trends of bitcoin with other similar phenomena such as the U.S. stock market in 1929 crash in the Stock Markets, the Mississippi Company, and South Sea Company in the 18th century, the behavior of gold pricing, and the famous Dutch Tulip bubble.

http://www.cryptocurrencynews.com/

Re-run of the Brexit referendum

Cambridge Analytica whistleblower Christopher Wylie : Brexit lacks ‘democratic mandate’

Chris Wylie, a former employee of Cambridge Analytica, shocked Andrew Marr when he called for a second referendum, to make sure the Leave vote was both legal and fair. Speaking earlier this morning, Mr Wylie called for assurances that the vote was made “fairly”.
His remarks came in response to Marr’s questions about the legitimacy of the 2016 Leave victory, which he followed up by asking whether Britain should “do it over again”. Mr Wylie became known as the Cambridge Analytica whistleblower last month after revealed how the company harvested the data of millions of Facebook users without consent.
 http://www.express.co.uk

8 stocks to buy and make a killing in the next 3 months

Bank of America Merrill Lynch released a stocks list 

“These high conviction ideas are based on our views of potential significant market and business-related catalysts that we think will affect these stocks in the quarter,” the bank said in a note.

Here are the top four: Abbott Laboratories (ABT), Automatic Data Processing, (ADP), Coca-Cola European Partners (CCE), Discovery, Inc. (DI SCA)…

 http://www.businessinsider.com