HALISTER: European Banks Cutting 20,000 Jobs as ING Joins Commerzbank, ABN

European Banks Cutting 20,000 Jobs as ING Joins Commerzbank, ABN

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
CBK GR (Commerzbank AG)
3584485Z NA (ABN AMRO Group NV)
INGA NA (ING Groep NV)

People
John Cryan (Deutsche Bank AG)
Karim Bertoni (Bellevue Asset Management AG/Switzerland)
Martin Zielke (Commerzbank AG)

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UUID: 7947283

HALISTER1: S. Africa’s ANC to Keep to Schedule for December 2017 Conference

S. Africa’s ANC to Keep to Schedule for December 2017 Conference

(Bloomberg) -- Ruling African National Congress held extensive discussion at its three-day national executive committee meeting about calls for a early conference, ANC Secretary-General Gwede Mantashe tells reporters in Johannesburg.
  • ANC calls for “lifestyle audits” of politicians, civil servants to help eliminate corruption
  • Urges acceleration of process to sign law tightening rules on money laundering, which is stalled at president’s office
  • Politicians must stop “talking out of turn”
  • NOTE: ANC youth wing called for early elective conference after poor performance in local elections in August; it sought to counter calls for President Jacob Zuma to step down
  • NOTE: Aug. 30, ANC Risks Internal War as South African Finance Minister Probed Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Jacob Zuma (Republic of South Africa)

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UUID: 7947283

HALISTER1: Spain Could Still Hold New Elections as PP Weighs Choices: Teneo

Spain Could Still Hold New Elections as PP Weighs Choices: Teneo

(Bloomberg) -- While Pedro Sanchez resigning from Spain’s Socialist PSOE party clears the path for Spain’s acting PM Mario Rajoy to form a government, events this week will be key, Teneo analyst Antonio Barroso says in interview.
  • There’s a debate about whether fresh elections would make Rajoy’s PP’s position stronger and mean he only needs the support of Ciudadanos to form a government
  • And he may be weighing the fact that if he doesn’t call for elections it may be very difficult for him to govern
  • This is still unresolved because there’s a risk new elections would backfire if the process isn’t managed carefully
  • A Rajoy-led government is a question of when, not if; the prospect of a government including leftist Podemos party has been avoided
  • That said, will still be a fragmented parliament and Spain won’t be implementing huge structural reforms; negotiations over the budget and for any reforms will continue to be tough
  • Even if PP and Ciudadanos parties come together to form a government, there’s no guarantee the junior partner would back everything Rajoy’s party wants to do; Ciadadanos could choose to work with PSOE to block certain policies
  • NOTE: Spain Socialist Party Revolt Not Yet a Reason to Buy SPGBs, Rabobank analysts said earlier
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Antonio Barroso (Teneo Intelligence)

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UUID: 7947283

HALISTER1: *BASS PRO SHOPS TO BUY CABELA’S IN DEAL VALUED AT ABOUT $5.5B

*BASS PRO SHOPS TO BUY CABELA’S IN DEAL VALUED AT ABOUT $5.5B

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
944919Z US (Bass Pro Group LLC)
1270428Z US (Bass Pro Outdoor World LLC)
CAB US (Cabela's Inc)

People
James Cabela (Cabela's Inc)
John Morris (Bass Pro Group LLC)
Thomas Millner (Cabela's Inc)

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UUID: 7947283

HALISTER1: TPCG Recommends Investors Buy Argentine Euro Bonds Sale

TPCG Recommends Investors Buy Argentine Euro Bonds Sale

(Bloomberg) -- Argentina will issue at least 500m euros in 5-year and 10-year tranches at around 4%-5.25%, Buenos Aires-based brokerage TPCG says.
  • “There is much more juice to squeeze from this trade”
  • TPCG also recommends any Euro bond issued by Province of Buenos Aires
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
1188Z AR (TPCG Capital SA)

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UUID: 7947283