Thursday, October 13, 2016

Deutsche Bank in The News

In an analyst rating update on Thursday shares of Lloyds Banking Group PLC ORD (LON:LLOY) had their rating reiterated by analysts at Deutsche Bank.

The broker said it has now set a ‘Hold’ rating on shares of Lloyds Banking Group PLC ORD with a price target of 59. The price target according to the broker shows a possible increase of 11.26% from the current stock price of 53.03.

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Deutsche Bank has received a cautious vote of creditor confidence. The German lender is issuing expensive debt. That shows it can get access to markets, despite a feared $14 billion American regulatory fine. It is less powerful a signal than buying debt back, as Deutsche Bank did in February — but at least it shows that investors do not fear losses that could eat into senior debt.

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Deutsche Bank AG is implementing a companywide hiring freeze as Chief Executive Officer John Cryan seeks to lower costs and shore up investor confidence, according to people with knowledge with of the matter.

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Germany’s biggest bank returned to the US high-grade bond market on Tuesday to sell an additional $1.5 billion worth of debt, offering more than double the yield it paid a year ago. Deutsche raised $3 billion in a bond sale last week. This has given investors in the troubled bank confidence it can tackle the litigation with the US Department of Justice. Deutsche is facing a $14 billion fine over its American mortgage-backed securities business which allegedly led to the US housing crisis in 2008.

Comment

Would I be surprised to see some news that the bank is failing and cannot correct itself? After all the ups and downs of the past few weeks - from disappointment at not being able to negotiate with the US authorities, to questions over its entire structure and how it passed previous stress tests - I wouldn't be surprised at anything.

The worry is that it is coming at a critical time. After a sensible victory for Clinton in November, we can all breathe a sigh of relief that the world can continue on its way without a wild card in play.

Wednesday, October 12, 2016

US Fines Reaching Into Europe - 'Extortion'

Reuters reports that a French Parliamentary report argues that Europe should challenge the United States over what it sees as its aggressive use of extraterritorial laws to fine European companies, especially banks.

The report objects to the U.S. Department of Justice's interpretation of its jurisdiction that includes transactions between non-Americans outside the U.S. where the U.S. dollar currency is involved.

It also covers matters transacted over the Internet using U.S. computer servers.

Karine Berger told Reuters in an interview that the practices were an abuse of US law and were akin to extortion.

Berger is a French politician, member of the French National Assembly representing Hautes-Alpes, and the national secretary for the economy of the ruling French Socialist Party.

COMMENT

Where does this stand via a via the Apple tax bill?

Tax is one thing; fines are another, at least on the face of it.

Is it just a tug of war between the USA and the EU as to who gets the money?

What would a disinterested expert say about the fairness of the US fines and the EU taxing of Apple?

Mervyn King on Brexit

Mervyn King, the governor of the Bank of England prior to Mark Carney, is reported as saying in an interview with Sky News:

During the referendum campaign, someone said the real danger of Brexit is you'll end up with higher interest rates, lower house prices and a lower exchange rate, and I thought: dream on.

Because that's what we've been trying to achieve for the past three years and now we have a chance of getting it.

Monday, October 10, 2016

Tell Me How I Joined

Best effort from a spam message today - it had the following in the footer to explain how it was that I came to be receiving it.

You have received this newsletter because you have opt in for our services and you was agree to our terms of use

Always good to know I was agree to something...

Saturday, October 8, 2016

Apple Mail email to Things?

Hi, I have Things and Ulysses on iOS and OS.

And I have Drafts on iOS set up so I can forward notes to Things.

And I have Reminders on iOS set up to forward to Things. That's useful when I am out on the street and I want to use Siri to get a note into Reminders rather than dig out my reading glasses, and in fact it is the only time I use Reminders.

The only thing I haven't figured out is how I can forward or get an email in Apple Mail on the phone into Things.

When on the phone, is there a way to forward an Apple Mail email to Things?

Friday, October 7, 2016

Juncker Wants A Bitter Brexit Divorce

Financial Times reports today:

Juncker tells EU leaders to be ‘intransigent’ with Britain and to refrain from secret negotiations with the UK

MarsEdit 4

I've been using MarsEdit for just over seven years. I started with version 2, and then upgraded to version 3 in 2010. Now, in 2018, I...