The Banking and Strategy Initiative

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Barclays pays in Libor Gate, Facebook rated by JP Morgan, Morgan Stanley | Banking Insight

Braclays settled with regulators adding to the negative Earnings hit from PPI of last year with another GBP300 M or $454 M and instead of potential clawback actions, top management have agreed to forego their bonuses this year. The penalties were imposed by CFTC  ($200M) , DOJ and FSA (UK) some of the many regulators investigating the dog and pony show where the team setting the daily interbank market rates were hobnobbing with traders taking positions on the rate and rates were set exactly where the banks wanted markets to go in defining trends and cutting potential loss making chances for the banks concerned. Other regulators and a US action under the Anit Mafia information act continue against the big dozen Global banks

A new option to the LIBOR was introduced by European banks led by HSBC in 2012

Facebook underwriters start rating the stock which has been trading above $30 for a week as the latest options market darling. There were 33 underwriters as new Director Sheryl Sandberg had handpicked more to improve the company’s credit lines. Morgan Stanley, under fire for botching the IPO set a $38 target for the Stock. JP Morgan rates it $45 and Bank of Montreal $25

English: Morgan Stanley Offices, Cumbernauld.

English: Morgan Stanley Offices, Cumbernauld. (Photo credit: Wikipedia)

Samsung’s Galaxy Tab 10.1 as meanwhile banned by a US judge in an unrelated victory for NASDAQ flagship stock Apple (AAPL:US)

Meanwhile at the banks Goldman Sachs stepped in to make its opinion known upgrading JP Morgan while cutting Morgan Stanley stock’s ratings from its brokerage desk yesterday. J P Morgan is still expected to report a $0.60 c profit per share for Q2 in $6.5 B of income. The Goldman Sachs note makes it clear that Morgan Stanley’s 2 notch downgrade was bad enough with its larger credit spreads costing it share of the smaller Fixed Income trading market

Meanwhile silicon Valley IPO candidates Palo Alto Networks and GFI Software asked Morgan Stanley to pipe down giving other leads Goldman Sachs and Jeffries a more active role in the coming IPOs. Ruckus wireless in fact rejected Morgan Stanley’s digital bid and posted the IPO honors roles to Goldman Sachs, the close no. 2 in the Valley

Of course Qatar has seemingly strangled the recovering deal market on the continent with a higher counter demand for its 11% stake in Xstrata. A Glencore refusal to go up high would mean the deal put on hold and $200 M in lost fees for the bankers




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