The Perfect Prey: The Fall of ABN Amro, or: What Went Wrong in the Banking Industry?
PR News Wire (Free subscription) | 6 hours ago
HSINCHU, Taiwan, Nov. 9 /PRNewswire-Asia-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today announced that ChipMOS TECHNOLOGIES INC. ("ChipMOS Taiwan"), a wholly-owned subsidiary of ChipMOS, has completed the renegotiation of the terms of its equipment leases with GE Money Taiwan Limited ("GE"), which also involves...
Market Watch (Free subscription) | 06/11/2009
LONDON (MarketWatch) -- Royal Bank of Scotland said Friday that it swung to a third-quarter net loss of 1.8 billion pounds ($2.98 billion) from a pro-forma profit of 871 million pounds a year earlier. The group said total income fell 17% to 7.09 billion pounds, while impairments losses jumped to 3.28 billion pounds from 1.28 billion pounds. The numbers are adjusted to exclude parts of the ABN Amro...
felixsalmon.com (Free subscription) | 04/11/2009
I'm back, relaxed, after the longest amount of time I've spent off-blog in three years. Trying to get back up to speed this morning, I noticed an interesting twist in the annals of bailed-out too-big-to-fail companies: RBS is being forced to sell some core assets, like its auto-insurance operations, which give stability to its earnings. At the same time, GM has managed to unsell Opel , an equally-core...
Tim Worstall (Free subscription) | 03/11/2009
Looking around at what everyone’s saying and doing about the banking thingummebob I’m seeing a possible disconnect with what the problems were and what the proposed solutions are. RBS fell over because it bought ABN Amro for a vast price. Lloyds fell over because it bought HBOS without checking the loan book. But no one seems [...]
Radon Mitigation Pittsburgh (Free subscription) | 31/10/2009
( EMAILWIRE.COM , October 30, 2009 ) FAIRLESS HILLS, Pa. -- Bankruptcy Creditors' Service, Inc., published Issue No. 45 of SEMGROUP BANKRUPTCY NEWS today. The 23-page newsletter contains stories with these headlines: 00840 COURT CONFIRMS SEMGROUP'S FOURTH AMENDED CHAP. 11 PLAN 00841 MAJORITY OF SEMGROUP CREDITORS VOTE TO ACCEPT PLAN 00842 DEBTORS' MOTION TO APPROVE SETTLEMENT WITH CONOCOPHILLIPS 00843...
Indian Express (Free subscription) | 29/10/2009
If Iceland is the place that has suffered most from the banking crisis, the Benelux countries can make a justifiable claim to second place. After the calamitous sale of ABN AMRO and the subsequent dismemberment of Fortis, ING, the biggest bank in the Netherlands, announced on Monday October 26 that it was splitting itself up.
The Business Insider (Free subscription) | 28/10/2009
Over the last decade we've gotten used to reading articles about companies with big plans to expand in China: Wal-Mart (WMT), McDonalds (MCD), Starbucks (SBUX), IBM (IBM)... and the list could go on and on. That will go on for awhile, but you know that for the next sevearl years, especially in the lead-in to 2016, we're going to read A LOT more stories about companies with big ambitions in Brazil....
The Economist (Free subscription) | 27/10/2009
A dramatic restructuring for ING. Which big European bank is next? IF ICELAND is the place that has suffered most from the banking crisis, the Benelux countries can make a justifiable claim to second place. After the calamitous sale of ABN AMRO and the subsequent dismemberment of Fortis, ING, the biggest bank in the Netherlands, announced on Monday October 26th that it was splitting itself up. The...
Business Wire (Free subscription) | 26/10/2009
MIAMI LAKES, Fla.--(BUSINESS WIRE)--BankUnited has named Raymond S. Barbone executive vice president, mortgage services. In his new role, Barbone will oversee loan administration and servicing, default administration, REO disposition and mortgage modification efforts. Barbone joins BankUnited from ABN AMRO Mortgage Group in Jacksonville, Fla., where he was a group senior vice president for operations...
LATICONOMICS (Free subscription) | 26/10/2009
The Bad Debt Dance Curbs on feckless borrowers must match controls of reckless lenders. JAN BOUCEK It takes two to tango. For most bad loans, there's an irresponsible lender and an irresponsible borrower. But two years since the start of the credit crunch, and lenders are suffering all the opprobrium. That's easy to do: Bankers are slick, cocky and rich. Of course, this was overlooked before the crunch...
Samizdata.net (Free subscription) | 22/10/2009
"There is no real evidence that any fewer UK banks would have gone bust had this separation been in place. It was not proprietary trading that brought down HBOS, it was bad lending to commercial property. Northern Rock, Bradford and Bingley and the Dunfermline did not own investment banks. RBS was brought to its knees as a result of a multitude of bad lending decisions, the over-priced takeover...
Europe Insight (Free subscription) | 21/10/2009
Deutsche Bank ( DB ), following in the footsteps of Daimler two days earlier, rushed out preliminary profit figures Oct. 21. But the bank's announcement that net earnings for the period were $2.1 billion, up from $619 million a year earlier, was not received as warmly by investors as the Daimler numbers. Deutsche Bank shares fell 3.5% in Frankfurt trading as investors registered disappointment that...
Arts Reader (Free subscription) | 21/10/2009
If this email is not displayed correctly, please click on the following link or open your browser and paste the link into the address field: http://view.ed4.net/v/TWK799/DA1F8/BHB58R/VLUH3/ Financials Wednesday October 21 2009 FT.com - Financials Credit Suisse settles Brazilian insider trading case Credit Suisse has offered to pay R$19.2m to Brazil's securities commission to end an action over alleged...
Indian Express (Free subscription) | 20/10/2009
Deutsche Bank has agreed in principle to buy some ABN Amro assets from the Dutch state in a deal which should clear the way for a merger of nationalised banks ABN and Fortis Bank Nederland.
Financial Times (Free subscription) | 20/10/2009
Deutsche Bank has reached preliminary terms with the Dutch government to resurrect a deal to buy assets formerly owned by ABN Amro
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