Newspaper wrap-up: Mixed views of Royal Bank rights issue
Posted Apr 18th 2008 9:15AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Citigroup Inc. (C), Advanced Micro Dev (AMD), Merrill Lynch (MER)
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MAJOR PAPERS:
- The Wall Street Journal reported that New York state's attorney general, Andrew Cuomo, has launched an investigation into auction-rate securities and is seeking information from some of Wall Street's biggest institutions including UBS AG (NYSE: UBS), Citigroup Incorporated (NYSE: C) and Merrill Lynch & Co Inc (NYSE: MER), a person familiar with the matter said.
- According to the Financial Times, Deutsche Bank AG (NYSE: DB) and other investment banks are working on plans to develop a clearing house for the credit derivatives markets. In an attempt to reduce counterparty risk, the banks are trying to develop a system that would only allow institutions with strong capital bases and credible trading histories to clear trades in the credit default swap markets with a central counterparty.
OTHER PAPERS:
- The news that The Royal Bank of Scotland Group Plc (NYSE: RBS) is planning a rights issue of between GBP5B and GBP12B received mixed reviews from British analysts and investors, the Telegraph reported. The analysts expect the bank to cut its dividend.
WEB SITES:
Tags: advanced micro, advanced micro devices, AdvancedMicro, AdvancedMicroDevices, AMD, Andrew Cuomo, AndrewCuomo, Auction-rate securities, Auction-rateSecurities, C, citigroup, citigroup inc., citigroup inc. c, CitigroupInc., CitigroupInc.C, DB, Deutsche Bank, DeutscheBank, MER, Merrill Lynch, MerrillLynch, NVDA, nvidia, nvidia geforce, nvidiageforce, Radeon HD 3830, RadeonHd3830, RBS, royal bank of scotland, RoyalBankOfScotland, UBS, UBS AG, UbsAg
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