• Tue, Jun. 27, 6:43 AM
    • British lenders face an £11.4B increase in capital requirements after the Bank of England said it was raising a key buffer designed to tackle growing risks of lax lending.
    • The central bank had earlier reversed a previous rise in its counter-cyclical capital buffer after it feared credit conditions would tighten after last year's vote to leave the EU.
    • Related tickers: BCS, HSBC, LYG, RBS, OTCPK:SCBFF
    Tue, Jun. 27, 6:43 AM | 2 Comments
  • Wed, Apr. 26, 8:54 AM
    Wed, Apr. 26, 8:54 AM
  • Nov. 30, 2016, 2:28 AM
    • After failing multiple hurdles in the Bank of England's toughest-ever stress test, Royal Bank of Scotland (NYSE:RBS) has bolstered its capital plan.
    • Some "capital inadequacies" were revealed at two other banks, Barclays (NYSE:BCS) and Standard Chartered (OTCPK:SCBFF), though neither was required to submit a revised plan.
    • The test also covered HSBC, Lloyds (NYSE:LYG), Nationwide and Banco Santander UK (NYSE:SAN).
    Nov. 30, 2016, 2:28 AM | 6 Comments
  • Nov. 28, 2016, 4:27 AM
    • Keeping up an aggressive drive to cut costs, Standard Chartered (OTCPK:SCBFF) is set to slash about a tenth of its global corporate and institutional banking headcount, sources told Reuters.
    • CEO Bill Winters this month branded the bank's income and profit unacceptable, as below-forecast third-quarter results underlined the challenges facing his overhaul.
    Nov. 28, 2016, 4:27 AM
  • Nov. 3, 2016, 10:35 AM
    • The U.K. High Court today threw a wrench in the government's hope for a "hard Brexit," ruling Parliament must approve the invocation of Article 50. In addition, fears of earnings-crushing negative rates are brushed aside as the Bank of England shifts its focus from growth worry to the risk of too-high inflation.
    • The advance for the banks today is especially notable given the 0.5% decline in the FTSE 100.
    • Royal Bank of Scotland (RBS +6.5%), Barclays (BCS +4.1%), HSBC (HSBC +0.6%), Lloyds (LYG +3.8%), Standard Chartered (OTCPK:SCBFF +1.1%)
    Nov. 3, 2016, 10:35 AM
  • Nov. 1, 2016, 8:23 AM
    Nov. 1, 2016, 8:23 AM
  • Aug. 3, 2016, 8:34 AM
    Aug. 3, 2016, 8:34 AM
  • Jul. 21, 2016, 2:15 AM
    • Singapore's central bank has vowed to take action against four institutions for failures in anti-money laundering controls, saying it seized $177M in assets linked to alleged fraud at Malaysian state fund 1MDB.
    • Preliminary findings uncovered "instances of control failings” at UBS, Standard Chartered (OTCPK:SCBFF) and DBS Group (OTCPK:DBSDY), as well as "substantial breaches" of anti-money laundering regulations at Falcon Private Bank.
    Jul. 21, 2016, 2:15 AM | 7 Comments
  • Jul. 11, 2016, 7:51 AM
    • Boeing
    • Donghai Airlines intends to purchase 25 737 MAX 8s and five 787-9 Dreamliners in a deal valued at more than $4B.
    • Xiamen Airlines has signed an MOU to buy up to 30 737 MAX 200 planes worth $3.4B.
    • Standard Chartered (OTCPK:SCBFF) announced an order for 10 Next-Generation 737-800s valued at $960M.
    • Britain has signed a contract for nine new P-8A Poseidon military aircraft and 50 Apache AH-64E attack helicopters.
    • Embraer (NYSE:ERJ) sealed an agreement with Boeing to jointly market and support its military cargo KC-390 aircraft.
    • The U.S. planemaker also announced a redesign of the smallest member of its 737 MAX jet family, saying it would carry 12 more passengers.
    • Airbus
    • AirAsia (OTC:AIABF) is near a $12.6B deal for as many as 100 A321s.
    • Virgin Atlantic is set to announce an order for at least 10 A350-1000s, worth more than $3.5B.
    • Others
    • Raytheon (NYSE:RTN) awarded CPI Aero (NYSEMKT:CVU) a contract valued at approximately $4M for next generation jammer pod structures.
    • CAE won civil aviation training contracts valued at more than C$180M.
    Jul. 11, 2016, 7:51 AM
  • Jun. 29, 2016, 11:02 AM
    • In the first are what are expected to be a series of mandatory "fireside chats," the heads of the five major U.K. banks, along with some smaller lenders, came into the Bank of England yesterday.
    • Source: FT
    • At the meeting - chaired by a senior central bank official and including an appearance by Governor Mark Carney - the bankers were given a supportive message about the amount of liquidity in the system, and "encouraged" to keep the lending spigots open (as opposed to the credit crunch that followed Lehman Brothers).
    • Those present included the CEOs of HSBC, BCS, LYG, RBC and OTCPK:SCBFF.
    Jun. 29, 2016, 11:02 AM | 4 Comments
  • Jun. 28, 2016, 5:19 AM
    • Moody's will revise the outlook of "a number of big U.K. lenders" to negative from stable today due to fallout from last week's EU referendum, Sky News reports.
    • The plan comes just hours after rival Standard & Poor's stripped the U.K. of its coveted triple-A rating and Fitch downgraded the sovereign.
    • Related tickers: HSBC, BCS, RBS, LYG, OTCPK:SCBFF
    Jun. 28, 2016, 5:19 AM | 8 Comments
  • May 12, 2016, 8:35 AM
    • In what could only be described as certain to happen once the Panama Papers leak hit, the New York Department of Financial Services has asked Goldman Sachs (NYSE:GS), along with BNP Paribas (OTCQX:BNPQY), CIBC (NYSE:CM), and Standard Chartered (OTCPK:SCBFF) about their possible involvement with shell companies, according to CNBC.
    • The NYDFS also requested information from 13 other lenders over the matter last month.
    May 12, 2016, 8:35 AM | 3 Comments
  • Apr. 26, 2016, 8:32 AM
    Apr. 26, 2016, 8:32 AM
  • Apr. 11, 2016, 6:18 AM
    • Looking to pare its balance sheet after booking record impairments, Standard Chartered (OTCPK:SCBFF) is seeking to sell major assets in Asia, Bloomberg reports.
    • The London-based bank is speaking with potential buyers for about $1.4B of stressed loans made to Indian firms including GMR Infrastructure (OTC:GMQRY), and has started a sale of around $3B of assets across the rest of the region.
    • Those assets include loans as well as proprietary bond and equity investments in China, Indonesia and Malaysia.
    Apr. 11, 2016, 6:18 AM
  • Apr. 7, 2016, 9:22 AM
    • European bank investors haven't reacted kindly to a string of dividend cuts from the likes of Santander (NYSE:SAN), Deutsche Bank (NYSE:DB), Barclays (NYSE:BCS)and Standard Chartered (OTCPK:SCBFF), but BIS Chief Economist Hyun Song Shin believes payouts have been too high since the financial crisis.
    • Returning too much capital, he says, is stifling lenders' ability to lend and thus crimping future profits, he argues. Even more absurd, a number of banks are raising capital while at the same time promising to maintain payouts - in other words, asking investors for money so they can give some of it right back (minus the underwriter's fee, of course). Credit Suisse (NYSE:CS) was the latest to do so last October.
    • The most curious part of investor demands for dividends is that when banks retain profits, it's still shareholder money as long as said funds are spent on silly acquisitions (or bonuses).
    Apr. 7, 2016, 9:22 AM | 6 Comments
  • Apr. 1, 2016, 5:12 AM
    • Qualcomm (NASDAQ:QCOM) has agreed to pay $7.5M to settle Chinese "princeling" charges, a term used in Asia that refers to hiring young relatives of key executives or political figures.
    • A U.S. judge has dismissed Standard Chartered (OTCPK:SCBFF) from a class action accusing 16 banks of harming investors by rigging prices in the $5.3T-a-day forex market.
    • Uber CEO Travis Kalanick failed to win the removal of an antitrust suit accusing him of scheming to drive up prices for passengers.
    • Lastly, the FCC ruled that Netflix did not violate any regulations when it "throttled" the picture quality for AT&T and Verizon wireless customers and it has no plans to investigate.
    Apr. 1, 2016, 5:12 AM