HALISTER: The Day Jamie Dimon Saved the Global Stock Market From Disaster

The Day Jamie Dimon Saved the Global Stock Market From Disaster

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
JPM US (JPMorgan Chase & Co)

People
James Dimon (JPMorgan Chase & Co)
John Canally (LPL Financial Holdings Inc)
Kiyoshi Ishigane (Mitsubishi UFJ Financial Group Inc)
Mario Draghi (European Central Bank)
Michael Woischneck (Bankhaus Lampe KG)

Topics
Who's News - People

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UUID: 7947283

HALISTER: The Behind-the-Scenes Fight Between Apple and the FBI

The Behind-the-Scenes Fight Between Apple and the FBI

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AAPL US (Apple Inc)

People
Timothy Cook (Apple Inc)
Alex Abdo (American Civil Liberties Union/New York)
Barack Obama (United States of America)
Eric Holder (Covington & Burling LLP)
James Cole (Sidley Austin LLP)

Topics
BGOV Tech/Telecomm

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UUID: 7947283

HALISTER1: Lawmakers Want to Know if $850m More Fund Headed to Philippines

Lawmakers Want to Know if $850m More Fund Headed to Philippines

(Bloomberg) -- Anti-Money Laundering Council studying whether $850m worth of funds covered by at least 30 SWIFT requests also headed to Philippines, Senator Teofisto Guingona says in interview.
  • “It matters in the sense that it reinforces the fact that we are perceived as a haven for money laundering,” he says
  • NOTE: 5 unauthorized SWIFT messages covering $101m were cleared; $81m transferred to Rizal Bank in Philippines and $20m to Pan Asian Banking in Sri Lanka, according to govt pleading at Department of Justice
  • NOTE: Another $850 million in transactions were halted: pleading
  • Next congress must revise Bank Secrecy Act by including criminal exceptions: Guingona
  • Filipinos overseas, industries will be affected by potential blacklisting by FATF, he says
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: INDIA RATINGS: Sharon Bio, Mulpuri Cut; Apollo Pipes Raised

INDIA RATINGS: Sharon Bio, Mulpuri Cut; Apollo Pipes Raised

(Bloomberg) -- Here’s a roundup of debt rating changes of Indian cos. To get this story sent to your inbox in real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery. DOWNGRADES:
  • Chandra Modern Builders
    • Long-term loan facilities cut to B from B+ at Crisil
    • Cites low cash inflow visibility against sizable term debt obligation in FY17
  • Crescent Auto Repairs
    • LT loan facilities cut to BB from BB+ at Crisil
    • Cites weak capital structure, debt protection metrics
  • Mulpuri Foods and Feeds
    • LT loan facilities cut to D from BB at Crisil
    • LT loan facilities of Sri Venkateswara Poultry Farm (a part of same group) also cut to D from BB at Crisil
    • Cites instances of delay in servicing debts
  • Prem Infracity
    • LT loan facilities cut to D from B- at Crisil
    • Cites delays by over 60 days in payment of interest on term debt
  • Sanjivani Paranteral
    • LT loan facilities cut to B+ from BB+ at Crisil
    • Cites stagnant revenue, stretched working capital cycle, subdued profitability
  • Sharon Bio-Medicine
    • Term loan cut to B+ from BB at Care
    • Cites poor operating performance
UPGRADES:
  • AMDD Foods
    • LT loan facilities revised to BB from BB- at Crisil
    • Expects co. to sustain its improved scale of operations, profitability over medium term
  • Apollo Pipes
    • LT loan facilities revised to BBB+ from BBB at Crisil
    • Expects business, financial risk profiles to continue to improve over medium term
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
1034010D IN (Apollo Pipes Ltd)
1033487D IN (Mulpuri Foods & Feeds Pvt Ltd)
SNJVP IN (Sanjivani Paranteral Ltd)
SBML IN (Sharon Bio-Medicine Ltd)

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UUID: 7947283

HALISTER1: INSIDE ASIA: Australia Brings Forward Budget, Early Poll Looms

INSIDE ASIA: Australia Brings Forward Budget, Early Poll Looms

(Bloomberg) -- Aussie slips; Prime Minister Turnbull brings forward Australia’s budget to May 3 and threatens to call a double-dissolution election unless the senate passes key industrial relations legislation.
  • China weakens yuan fixing by most since Jan. 7; country needs to step up monetary- and fiscal-policy coordination to tackle increasing downward pressure on the economy, PBOC-run Financial News says; economy may grow more than 6.5% this year as it bottoms and gradually recovers over the next 3 years: Securities Times; Bernanke suggests less predictable yuan path for PBOC: Caixin
  • Kiwi drops for second day; New Zealand consumer confidence fell to 109.6 in first quarter from 110.7 prior three months
  • U.S. 10-year Treasury futures rise to 129-14 from 129-13 on March 18; data today may show existing-home sales in the world’s biggest economy decreased 2.9% in February after increasing 0.4% in prior month: Bloomberg survey
  • Taiwan dollar advances; island’s export orders probably decreased 10.0% in February from year earlier following 12.4% decline in January, according to Bloomberg survey before data today
  • Peso declines; Bangko Sentral ng Pilipinas reduced its net losses for 2015 to 4.3b pesos ($92m) from 10.11b pesos as it booked higher gains on foreign-exchange fluctuations, Philippine Star reports
  • Onshore financial markets are closed in Japan for a public holiday
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Philippine Agency Needs Power to Stop Bank Transactions: Senator

Philippine Agency Needs Power to Stop Bank Transactions: Senator

(Bloomberg) -- Congress should consider giving Anti-Money Laundering Council power to issue temporary hold order on bank accounts that may be linked to illegal activities, Senator Teofisto Guingona, who’s heading investigation on $81m stolen funds from Bangladesh, says at forum in Manila.
  • It took council ~20 days to have bank accounts frozen by court, by then accounts used to channel stolen $81m had been emptied
  • “The council has to be empowered to act fast. We should look into AMLC’s power to issue cease and desist orders for a period of time before they can get a court order to freeze certain accounts,” Guingona says
  • Banks proven to have had poor safety standards must be penalized
  • International community watching if Philippines has resolve to implement an effective anti-money laundering law
  • “It’s incumbent upon us to really plug big legislative loophole” of excluding casinos from coverage, Guingona says; adds there was strong lobby to exclude casinos from dirty-money coverage when lawmakers deliberating on law’s revision in 2012
  • NOTE: How $81 Million Slipped Through Philippine Cracks: Timeline Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Teofisto Guingona Jr (Republic of the Philippines)

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UUID: 7947283

HALISTER1: Philippines Not Obliged to Return Money to Bangladesh: Osmena

Philippines Not Obliged to Return Money to Bangladesh: Osmena

(Bloomberg) -- Philippines must resolve case of $81m stolen funds from Bangladesh that found its way to Philippine financial system even as Southeast Asian nation isn’t obliged to return money, Senator Serge Osmena says in interview with ABS-CBN News Channel.
  • Philippines must plug loopholes in its anti-money laundering law
  • Bangladesh rejected Philrem’s offer to retun 10m pesos
  • Senate to probe activities of traders being linked to case
  • Anti-money laundering law is being used by launderers to protect themselves
  • Rizal Bank manager may be liable for oversight in operations, lender may be liable for transactions in spite of good rules: Osmena
  • NOTE: Rizal Bank Counters Claims Over Bangladesh’s Stolen $81 Million Link
  • NOTE: How $81 Million Slipped Through Philippine Cracks: Timeline Link
  • NOTE: Any Philippine Bank Found Erring in Heist to Be Accountable: BSP Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RCB PM (Rizal Commercial Banking Corp)

People
Serge Osmena ((PHL)Senate)

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UUID: 7947283