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’Snap news
Breaking pre-market news on Tuesday,
- Xstrata announces further significant increases to mineral resources in South America – statement.
- Frontline plans to raise $250m new equity as part of restructuring – statement.
Snap news
Breaking pre-market news on Tuesday,
- SABMiller seeks engagement with board of Foster’s after $10bn bid is rebuffed — statement.
- Aegon to resume dividend payments — statement.
- Top directors and executives at Jupiter Fund Management to sell 31.3m shares — statement.
Snap news
Breaking pre-market news on Tuesday,
- UBS sees inflows of $11.5bn to wealth management business in Q1 — statement.
- Heritage Oil launches $100m share buyback because shares trading a significant discount to intrinsic value — statement.
Snap news
Breaking pre-market news on Tuesday,
- Santander agrees to buy $4.3bn auto loan portfolio from HSBC – statement.
- FSU offer for SDI extended to September 10 – statement.
- Aegon repays €500m of government support – statement.
Snap news
Breaking pre-market news on Tuesday,
- Resolution reveals first-half profit of £203m — statement.
- Gartmore posts first-half EBITDA of £38.8m; AUM down 10 per cent on year — statement.
- Carlsberg H1 operating profit tops forecasts – statement.
Snap news
Breaking pre-market news on Thursday,
- Dana Petroleum talks with Korean suitors deadlocked — statement.
- Vedanta said to be in advanced talks to take stake in Cairn Energy – report.
- De La Rue chief executive resigns following paper incident — statement.
Snap news
Breaking pre-market news on Tuesday,
- Dubai World to carry out restructuring in an ‘equitable way’ – statement.
- GSK completes extension of strategic collaboration with Aspen – statement.
- Xstrata copper enters agreement with Zijin mining group – statement.
Thirty financial groups on systemic risk list
Thirty global financial institutions make up a list that regulators are earmarking for cross-border supervision exercises, the Financial Times has learnt. The list, drawn up by regulators under the auspices of the Financial Stability Board,
Snap news
Breaking pre-market news on Thursday,
- Aegon to repay €1bn to the Dutch state – statement.
- Deutsche Bank reports third quarter net profit of €1.4bn – statement.
- National Express ends merger discussions with Stagecoach and will move forward with rights issue – statement,
Snap news
Breaking pre-market news on Friday,
- Aegon completes €1bn equity issue – statement.
- Corporate: Swatch, ThyssenKrupp, Hochtief, African Copper, African Minerals,KGHM,Paypoint.
Snap news
Breaking pre-market news on Thursday,
- Prudential’s first-half loss narrows on US sales, investments – statement.
- Aegon to launch equity issue of up to €1bn, posts fourth straight loss – statement,
CDS update: US banks worsen
The cost of protecting US banks against default rose sharply on Tuesday afternoon UK time as investors in both equity and credit markets showed renewed signs of skittishness over the durability of bank earnings and over the upcoming results of the US “stress tests”.
Aegon gets €3bn in government capital
Aegon, the Dutch insurance company, yesterday took a €3bn capital injection from the state, becoming the latest Benelux financial company to accept government cash after its shares lost 75 per cent of their value over the past year.
Aegon puts hedge funds in mainstream
Aegon, the Dutch insurer, is spinning off the active equity fund management of its €75bn ($115bn) Netherlands operation to two new hedge funds in which it will invest about $650m. The move by the insurance company follows the decision to split its €7bn-€10bn of investments in shares into active and passive strategies,
Equitable logic
One ever-present (but rarely discussed) threat during the crunch has been that isolated financial implosions would mutate into a wider collapse of public confidence in financial assets generally.
So perhaps we should be particularly anxious about problems surrounding Aegon’s Scottish Equitable insurance division,
Merrill sells insurance units at cut price
Merrill Lynch’s sale of two life-insurance units to Dutch insurance and investment-products provider Aegon NV has closed, with the $1.25bn price tag $50m less than the two parties agreed to in August, reports the Wall Street Journal.
Aegon buys Merrill insurance units
Merrill Lynch has taken another step away from the products it provides through its brokerage arm by agreeing to sell its life assurance businesses for $1.3bn to Aegon, the Dutch insurance group. Bob McCann,
UBS, Aegon UK eye bulk-annuity market
UBS has become the latest investment bank to weigh into the lucrative bulk annuity market by teaming up with the UK arm of Netherlands-based insurer Aegon to take on the assets and liabilities of mature occupational pension schemes.