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StanChart to buy Morgan Stanley India wealth management arm

May 20, 2013 04:48
By Sumeet Chatterjee (Reuters) - Standard Chartered has agreed to buy the Indian wealth management unit of Morgan Stanley, helping the British bank expand its private banking business in Asia's third-largest economy. The sale underscores growing consolidation of Asia's wealth management industry, which is struggling with rising regulatory costs and wafer-thin advisory fees.

banks-capital adequacy ratio

Yonhap News AgencyMay 20, 2013 03:30
SEOUL, May 20 (Yonhap) -- South Korean banks saw their capital adequacy ratios fall in the first quarter from three months earlier, as their risk-weighted assets increased on more lending to smaller firms and dollar-denominated debts, the financial regulator said Monday. The average capital adequacy ratio of 18 local banks reached 14.00 percent, down 0.13 percentage point from the previous quarter, according to the Financial Supervisory Service (FSS). Compared with a year earlier, the figure gained 0.17 percentage point, it said.

Slovenia says reforms on track despite ratings downgrade

Agence France-PresseMay 18, 2013 07:15
Slovenia on Saturday said it was confident its newly-adopted action plan would stabilise public finances and lead to an economic recovery, a day after international ratings agency Fitch downgraded the crisis-hit country by one notch. "The consolidation of public finances will follow the objectives that have been clearly set. We will efficiently carry out all the necessary measures drawn in its stability and reform programs," Slovenia's finance ministry said in a statement in response to the downgrade.

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Agence France-PresseMay 18, 2013 04:00
India faces at least "a one-in-three" chance of losing its prized sovereign grade rating, global ratings agency Standard and Poor's has warned, amid new threats to economic growth and reforms. The announcement surprised the finance ministry which had been pitching for a ratings upgrade, saying the government has taken strong steps to improve India's public finances, promote investment and revive growth.

Commodity prices mainly retreat

Agence France-PresseMay 17, 2013 22:31
Commodity prices mostly weakened this week, hit by a stronger dollar and falling demand for raw materials amid persistent concerns about the state of the troubled global economy, according to analysts. Figures published Wednesday revealed that the dogged recession across the eurozone has snared key economy France. In Brussels, French President Francois Hollande tipped 'zero' growth on the national level, blaming an EU-wide, German-led austerity trap -- and hitting out at banks for holding back on lending.

Dimon clings to JPMorgan chairman title, after fight

May 17, 2013 18:15
By David Henry TAMPA, Florida (Reuters) - Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co took an unusual step to fight off investors seeking more oversight of his activities - he hinted he might quit. And it worked. At the bank's annual meeting on Tuesday, JPMorgan shareholders voted down a proposal to strip Dimon of his chairmanship, giving the measure even less support than last year.

Fitch downgrades Slovenia on poor outlook

Agence France-PresseMay 17, 2013 13:17
International ratings agency Fitch downgraded Slovenia on Friday by one notch, with a negative outlook, citing a deterioration of the government's finances and its worrying economic situation. Fitch said Slovenia's main debt rating had been cut to 'BBB+' from A- after the county's "macroeconomic and fiscal outlook has deteriorated significantly since Fitch's last rating review of the Slovenian sovereign in August 2012."

Shares of Tableau Software soar in trading debut after raising $254.2M in IPO

The Canadian PressMay 17, 2013 12:01
NEW YORK, N.Y. - Tableau Software shares soared in their trading debut Friday after the company and some of its investors raised about $254.2 million in its initial public offering. Seattle-based Tableau Software Inc. provides software that helps businesses convert data into visual presentations. The shares jumped $17.50, or 56 per cent, to $48.50 in morning trading. Earlier, the company sold 5 million shares for $31 each and total proceeds of $155 million. Certain shareholders sold an additional 3.2 million shares at the same price for $99.2 million.
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