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Daily Wrap Up - Sept 29

Credit Card Crackdown; Consumer Bluesfor Stocks; CIT's Debt Plan

SEC mulls securities lending as risks exposed

U.S. securities regulators are eyeing new restrictions on the multi-trillion dollar securities lending market used by short-sellers after the credit crisis revealed the industry was anything but low risk.

UPDATE 1-Accretive Health aims for $200 mln IPO

Accretive Health Inc AH.N, a provider of technology and services aimed at helping hospitals manage their revenue cycles, plans to raise as much as $200 million in an initial public offering, according to a prospectus filed with U.S. regulators.

Survey shows signs of global trade recovery - HSBC

A survey of small and mid-sized companies in 12 major global markets showed growing confidence in the state of global trade, Europe's biggest bank, HSBC, said on Tuesday.

More news

Venture-owned e-commerce co Newegg files for IPO

Newegg Inc, a venture-capital backed online retailer of computer hardware and software, plans to raise up to $175 million in an initial public offering, according to a regulatory filing.

Peak Sport shares drop 17 pct in HK debut

Shares of Peak Sport Products Co tumbled 17 percent on Tuesday, in the worst debut of a Hong Kong IPO in the current wave of offerings.

UPDATE 1-Paulson mulls CIT-IndyMac merger - NY Post

Hedge fund manager John Paulson is considering merging troubled U.S. finance company CIT Group Inc with failed mortgage lender IndyMac Federal Bank, the New York Post said, citing people familiar with the matter.

Dutch looking to sell Fortis NL assets to BNP: source

The Netherlands is looking into options to sell Fortis Bank Nederland assets to French bank BNP Paribas as part of a merger remedy ordered by the European Commission, a source said on Tuesday.

RBC to buy JP Morgan's investment adviser business

Royal Bank of Canada said on Tuesday it reached a deal to buy JPMorgan Chase & Co's investment adviser servicing business, the latest step by RBC to expand its U.S. wealth management division.

KKR creates IR position; readies to become public

Private equity firm Kohlberg Kravis Roberts & Co has appointed a head of investor relations for the first time, as the firm readies itself to become a publicly listed company.

UBS to sell Paine Webber but not yet: report

UBS AG's U.S. wealth management unit Paine Webber is not a core part of the bank's operations but will not be sold at present, UBS Chief Executive Oswald Gruebel was quoted saying in the FT.

Jes Staley in line to succeed JPMorgan CEO Dimon

JPMorgan Chase & Co's co-chief executives of its investment bank have been replaced by Jes Staley, current head of the No. 2 U.S. bank's asset management unit, possibly putting him in a position to succeed CEO Jamie Dimon.

Daily Outlook - Sept 29

Homes Sales Beat Views; Merger for Smaller Banks? UBS Won't Sell Unit for Now

Dow, S&P futures bounce after housing data

The Dow Jones industrial average and S&P 500 stock index futures swung into positive territory on Tuesday following a stronger-than-expected report on July home prices.

JPMorgan investment banking co-CEO leaves

JPMorgan Chase & Co said on Tuesday its co-chief executive of investment banking is leaving, one of several management changes that are part the bank's succession plan.

European shares dip; weak oils outweigh banks

European shares dipped on Tuesday after the previous session's sharp gains, dragged lower by commodity stocks, but financials offered support after BNP Paribas raised capital to shake off government influence.

FTSE down 0.4 pct; commodities ease, financials up

Britain's leading share index was 0.4 percent weaker in mid-session trade on Tuesday, with weakness in commodity stocks outweighing gains in financials as investors booked profit after recent gains.

John Paulson mulls CIT and IndyMac merger: report

Hedge fund manager John Paulson is considering merging troubled U.S. finance company CIT Group with failed mortgage lender IndyMac Federal Bank , the New York Post said, citing people familiar with the matter.

World stocks hold firm

World stocks edged higher while the dollar steadied on Tuesday as BNP Paribas' move to pay back state financial support and growing corporate takeover activity bolstered confidence about economic recovery.

BNP Paribas hikes capital, to pay back state early

BNP Paribas, France's biggest bank by market capitalization, on Tuesday joined the rush to pay back governments for their financial support during the credit crisis.

UBS to sell U.S. wealth management unit, but not yet: report

UBS chief executive Oswald Gruebel said Paine Webber, the bank's U.S. wealth management unit, is non-core but the bank will not sell at present, the Financial Times quoted him as saying.

Analyst raises Apple target to $210

A Thomas Weisel analyst Doug Reid has raised his price target for Apple stock, raising it from $180 to $210.

BofA, execs owe billions in lawsuit, Ohio says

Investors in a class-action lawsuit against Bank of America Corp over the Merrill Lynch & Co takeover are trying to collect billions of dollars in damages, Ohio's attorney general said on Monday.

Australia's Myer to raise up to $2 billion in IPO

Myer, Australia's largest department store chain, plans to raise up to $2 billion in a share offering that will test investor appetite for retail stocks and may encourage other IPOs in the sector.

U.S. stock investors set to unload junk

Just like the government's cash for clunkers program, investors are ready to cash in junk stock holdings for sounder equities, analysts say.

JPMorgan drops claims to Reijtenbagh art -report

Dutch investor Louis Reijtenbagh's family has reached a settlement with JPMorgan Chase & Co over the family's art collection, a Dutch newspaper reported on Monday.

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