Mizuho’s Third-Quarter Profit Falls 65% on Subprime (Update1)
Posted by: admin in Today NewsMizuho’s Third-Quarter Profit Falls 65% on Subprime (Update1)
Bloomberg - The firm joined local rivals Sumitomo Mitsui Financial Group Inc. and Sumitomo Trust & Banking Co. in reporting larger-than-expected credit market losses. “They’ll probably be exploring ways to take advantage of Merrill’s U.S. franchise
New York’s Presidential Primary
Miami Herald - Delegates at stake: Democratic 232; Republican 101. Polls open: In New York City and the counties of Nassau, Suffolk, Westchester, Rockland, Orange, Putnam and Erie, polls open from 6 a.m. to 9 p.m. EST. In all other counties, polls open at noon and
Japan’s Mitsubishi UFJ April-Dec net profit falls 54.4 pct on bigger
Forbes - TOKYO (Thomson Financial) - Mitsubishi UFJ Financial Group Inc, Japan’s largest banking group, said Thursday its net profit fell 54.4 percent in the nine months to December, reflecting writedowns for its struggling credit card business and losses
Oil falls on economy worries, huge U.S. stockbuild
Guardian Unlimited - The Fed’s action has brought U.S. rates to their lowest since June 2005. But the rate cut was overshadowed by speculation of more credit rating downgrades of U.S. bond insurers, which could bring further pain for the banking sector, already nursing
THAIN UNEXPLAINS CDO EXIT PLAN
New York Post - Perhaps Thain misspoke,” said analyst Peter Cohan of Peter A. Cohan Associates, which tracks banking. “But if a CEO makes an announcement, you’d think they’d all be on the same page. Maybe they need to spend some time getting all their ducks in a row
Prague shares TFN at a glance outlook
CNBC - PRAGUE (Thomson Financial) - Shares are expected to open slightly higher, with banking stocks expected to gain, while Orco Property Group will be in focus after posting a blended set of full year results late yesterday. Yesterday, Prague’s main PX
GLOBAL MARKETS-Credit worries offset Fed rate cut boost
Guardian Unlimited - If bond insurers lose their top “AAA” ratings, U.S. financial institutions will face fresh write-downs of as much as $70 billion, according to Meredith Whitney, banking analyst at brokerage Oppenheimer & Co.
New powers for Bank to stage secret rescues
Guardian Unlimited - Tough new regulatory powers designed to prevent a repeat of the Northern Rock fiasco and to make the Bank of England and the Financial Services Authority more effective in a future banking crisis were announced by Alistair Darling yesterday. The
Society Generale chairman to stay
Baltimore Sun - told reporters afterward. Folz, former chief of PSA Peugeot Citroen, was named to head a committee that the Societe Generale board is setting up to investigate the billions in losses that the bank announced last week, stunning an already shaky banking
European Two-Year Notes Rise, Headed for Best Month Since 1995
Bloomberg - It’s being driven by equities,” said Orlando Green, a fixed-income strategist at Calyon, the investment-banking arm of Credit Agricole SA. “The markets demanded a 50 basis-point” rate cut. “The Fed treads a fine line in tempering market
UBS, Credit Suisse face more writedowns - watchdog
Guardian Unlimited - ZURICH, Jan 31 (Reuters) - The Swiss banking watchdog EBK stated on Thursday UBS AG and Credit Suisse may face writedowns from investments other than subprime-related assets, in “hotspots” such as credit cards and commercial and retail loans. Daniel
Hearty Italians for your game-watching get-together
Miami Herald - It’s appropriate that the new Italian wines are arriving just in time for Super Bowl celebrations. Red-blooded Americans want no wimpy wines with their two-fisted, game-day fare. If you’re grilling chicken or fish, try a white vernaccia from San Gimignano
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