Too quick to PIK?

Too quick to PIK?

The deals set to haunt European high yield

Latin America

Latin America

Sovereigns shape up for differentiation

Wednesday, March 14, 2012

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WireTap 0900 14/03/12

by Euromoney Skew

A round-up of the key stories across the specialist financial media, including news that five leading US banks have agreed to pay $25 million to New York State over their use of an electronic mortgage database that led to more than 13,000 foreclosures



Banks to pay $25 million to NY State over mortgage system 

Five leading US banks have agreed to pay $25 million to New York State over their use of an electronic mortgage database that the state said resulted in deceptive and illegal practices that led to more than 13,000 foreclosures. 

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Stress tests buoy US banks

Most of the biggest US banks passed the latest round of "stress tests" administered by federal regulators – a milestone in the recovery from the financial crisis that clears the way for investors to receive tens of billions of dollars in increased bank dividends and share buybacks.

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Stocks flirt with cyclical peaks

Global stocks are flirting with fresh cyclical highs as hopes for the US economy and improving sentiment toward the American banking sector support risk appetite.

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Tudou owners get world’s best deal taking Youku stock: real M&A

Tudou, which lost about half its value after going public in the US in August, almost tripled this week after agreeing to sell itself for equity in Youku.

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China ups dollar parity, making yuan a two-way trade 

China raised the dollar-yuan parity on Wednesday, further weakening the local currency against the greenback, amid easing inflationary pressures and after posting a big trade deficit in February. 

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