Halister News

(Bloomberg) -- German Feb. EU-harmonized CPI y/y est. 0.0% vs prev 0.4%.

• German Feb. EU-harmonized CPI m/m est. 0.6% vs prev -1.0%

(Bloomberg) -- Vivendi says agreed with Liberty Media on a settlement regarding the lawsuit filed by Liberty Media in March 2003 in U.S. District Court for the Southern District of New York, related to the formation of Vivendi Universal Entertainment in May 2002.

• Co. says agreement will lead Vivendi to record a reversal of provision of about EU245m in 2016
• Co. says provision has already been deducted for tax purposes. Reversal of provision will be taxed in 2016.
• Co. says implementation of foregoing transactions will have a positive net cash impact of about EU270m for Vivendi
• Vivendi comments in e-mailed statement

(Bloomberg) -- The main issue to look at when assessing further ECB easing is how it will affect sentiment and risk-taking behavior and not the possible impact on net interest income for banks, JPMorgan economist David Mackie writes in client note.

• Fears that further cuts could impact bank profitability to such an extent they impair lending and are counterproductive seem overdone, given Europe’s experience over the past 18 months
• Central banks have shown tiered reserve-charging regimes can greatly reduce the direct effect on bank profitability; in any case banks can increase fees on some products and even eventually make household deposit rates negative
• NOTE: JPMorgan expects ECB to cut the deposit rate cut by 20bps to -0.5% in March and by another 20bp to -0.7%, possibly in June