Under Pressure - BofA, Citi, Deutsche, HSBC, JPMorgan, RBS, UBS
More in BUSINESS NEWS
back-up- Top Firms Finally Hit By H1N1 Threat
- Top Firm Caught Out By Rogue Traders
- 'It's Not As If They Paid Great Bonuses In The First Place!'
- Top Firm Chain Letter
- Sisters Are Doing It For Themselves
- Dear All - 'I Am Not Interested' In Bank of America Job
- Bank of America, BNP Paribas, Goldman, JPMorgan, Galleon Group
- Old Traders Never Die - The Seance
- Click Here To Register For Free News E-Mail Alerts
- Speculation Mounts About Goldman's Bonus Plans
- Top Boss Tells Church Crowd 'Profit Is Not Satanic'
- Your Views On Bonuses (Poll Results)
- Bank of America 'Is Not A Monarchy'
- Bankers Will Have The Last Laugh On Pay
- 'There Aren't Many People Who Think Charlotte Is A Major Financial Center'
- Top Firm Delivers 'Another Big Disappointment'
- Bank Of America CEO Poll - Incredible Result
- Scruffy Civil Servant Warns Tax Dodgers
- BofA Said To Have Got Another Turn-Down
- Interview With Bernie Madoff
- Top Firm Dismisses Talk Of Further $10bn Writedown
- The Average British Soldier
- Top Firm Puts More Aside For Staff Compensation
- Firms On Alert As Insect 'Infestation' Crashes PC Networks
- Register Now For Free 'Old Traders Never Die' Updates
- Secretary Geithner's Written Testimony On Reform Of Financial System
- ISITC Europe Successfully Introduces New Operating Structure
- Dumb & Dumber - Incredible Details About Lehman Weekend Revealed
- The Cityboy Column
- The Man Bank of America Should Hire As CEO (But Won't)
- Goldman Needs To Give Away $1bn
- Top Firms Said To Have Lost $400m On Hedge Fund
- H1N1 Flu - Have You Got It ? (Quick Test)
- H1N1 Bank Call Center Transcript (You Couldn't Make It Up)
- 'It's Just No Fun Anymore!'
- Top Firm CEO Says He Won't Poach Staff From Rivals
- 'I Hate Recruitment Consultants' - Reader Comments
- Bohemian Bankruptcy
- 'I Hate Recruitment Consultants'
- Mack Attack - The Moment Big John Hit Back
- Compliance Training ? 'The Biscuits Were Good'
- Banker, Hire Thyself
- IT Recruitment - The Smart Way
- And Wall Street's Top Athlete Is...........
- John Mack On Saving Morgan Stanley
- Bankers Taught How To Be Killing Machines
- Banks Given Five More Days To Justify Bonuses
- Billionaire Madoff Investor Found Dead In Swimming Pool
- Top Bailed-Out Execs Averaged $18m Each In 2008
- The Vic Daniels Column - 26/10/09
Related Content
- Deutsche, BofA, Citi, HSBC, Societe Generale, JPMorgan (03/10/2009)
- BofA, BONY, Citi, Goldman Sachs , Lehman Brothers, Natixis (17/09/2009)
- BNP, Barclays, CIBC, Credit Suisse, Deutsche, Goldman, JPM, RBS (05/10/2009)
- BofA, Commerzbank / Dresdner Kleinwort, Lehman, Macquarie, Nomura, UBS (01/09/2009)
- BofA, Credit Suisse, Goldman, SocGen, UBS, Wells Fargo (24/09/2009)
- BNY Mellon, Barclays, BlackRock, BofA / Merrill, Deutsche, Jefferies, State Street (21/10/2009)
Bank of America
The firm's stock fell almost 19% Monday and Tuesday, after Citigroup analyst Keith Horowitz said that the firm may post a $3.6bn fourth-quarter loss and cut its dividend. Horowitz also said that Bank of America may only have recorded one-third of losses, that could hit $165bn between 2008 and 2011.
Citigroup
The firm's stock fell 17% Monday (although recovered by 5.4% Tuesday) on concerns over credit losses and worries that the CEO Vikram Pandit may be forced to sell all the company's best businesses to survive.
Deutsche Bank
The firm has pre-announced earnings, saying that it anticipates a $6.3bn loss in the fourth-quarter. Deutsche's shares were down over 12% in morning trading in Frankfurt Wednesday.
HSBC
HSBC's shares fell in London trading Wednesday, after Morgan Stanley analysts came out and predicted that the firm may have to raise up to $30bn in additional capital and cut its dividend in half. Morgan Stanley warned that HSBC's profits are likely to fall 'sharply' this year, and won't recover until 2011. HSBC's stock was down 5.7% in morning trading.
JPMorgan Chase
Shares fell 4.1% Monday (but fully recovered Tuesday), after it confirmed that it will announce its fourth-quarter earnings Thursday, 6 days earlier than planned. The market is confused about whether the early announcement signals that the results are worse than feared, or better than expected! The bank is, however, expected to post its worst quarter since CEO Jamie Dimon took charge 2 years ago.
Royal Bank of Scotland
The bank is to sell its $2.3bn stake in Bank of China to beef up its balance sheet. The firm looks likely to face losses on the $3.7bn in loan exposure it has to US chemical company Lyondell Chemical, which has now filed for bankruptcy.
UBS
The firm's shares fell over 6% Monday and a further 5.3% Tuesday on concerns that the bank will post a bigger-than-expected 2008 full-year loss next month.
Finally, Raul Weil, the former head of UBSs' wealth management unit, has now been declared a fugitive, after failing to surrender to US authorities in connection with the probe of the bank over allegations that it helped US citizens hide assets to avoid tax. An indictment against him was unsealed in November, although Weil has denied than he was involved in, or aware of, any wrongdoing.
Sources - Bloomberg, Reuters, The Financial Times
Please use the 'E-Mail' button immediately under the article title to send this item to a friend.
Please use the 'E-Mail' button immediately under the article title to send this item to a friend.
