HALISTER: Santander Chairman Botin Earned EU7.5m in 2015

Santander Chairman Botin Earned EU7.5m in 2015

(Bloomberg) -- Santander Chairman Ana Botin earned EU5.3m in cash in 2015, EU2.2m in awarded shares, co. says in remuneration reports filed with regulators.
  • Botin had EU2.3m paid into savings plan
  • Botin’s pay was EU6.72m in 2014
  • CEO Jose Antonio Alvarez remuneration total amount EU5.2m to be paid in cash, EU1.4m in shares
  • Alvarez has EU2.6m paid in savings plan
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
SAN SM (Banco Santander SA)

People
Jose Alvarez Alvarez (Banco Santander SA)
Macarena Munoz (Banco Santander SA)

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UUID: 7947283

HALISTER: Express Scripts Giving ‘Extra Scrutiny’ to Valeant Prescriptions

Express Scripts Giving ‘Extra Scrutiny’ to Valeant Prescriptions

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
VRX CN (Valeant Pharmaceuticals International Inc)
ESRX US (Express Scripts Holding Co)
MRK US (Merck & Co Inc)
ABBV US (AbbVie Inc)

People
Steven Miller (Express Scripts Holding Co)
Howard Schiller (Valeant Pharmaceuticals International Inc)
Kenneth Frazier (Merck & Co Inc)

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UUID: 7947283

HALISTER1: Money-Launder Woes Push Mexico Into Dollar-Transfer Business (1)

Money-Launder Woes Push Mexico Into Dollar-Transfer Business (1)

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
JPM US (JPMorgan Chase & Co)

People
Agustin Carstens (Banco de Mexico)
Daniel Glaser (United States Department of the Treasury)
James Dimon (JPMorgan Chase & Co)
Luis Robles Miaja (Bbva Bancomer SA)
Ricardo Medina Macias (Banco De Mexico)

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UUID: 7947283

HALISTER: AIG Let ‘Fox in the Henhouse’ With Icahn Accord, Greenberg Says

AIG Let ‘Fox in the Henhouse’ With Icahn Accord, Greenberg Says

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AIG US (American International Group Inc)
IEP US (Icahn Enterprises LP)
573991Z US (Paulson & Co Inc)

People
Carl Icahn (Icahn Enterprises Holdings LP)
Maurice Greenberg (CV Starr & Co Inc)
Peter Hancock (American International Group Inc)
John Paulson (Paulson & Co Inc)

Topics
CEO Interviews

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UUID: 7947283

HALISTER1: RATES: Take Profits on Long Duration Positions, MS Says

RATES: Take Profits on Long Duration Positions, MS Says

(Bloomberg) -- Recent declines have sent 10Y sovereign yields to “levels that would be hard to justify outside of any flight-to-quality episode,” and while investors should not initiate short positions, focus should be on relative value, Morgan Stanley strategist Matthew Hornbach says in note.
  • Long 10Y call was initiated on Dec. 11; UST 10Y yield declined 75bp from Dec. 15, day before Fed liftoff, to yday’s lows
  • Short duration positions are ill-advised because MS models “continue to suggest long positions and are likely do so until momentum in bonds and equity markets changes direction”
  • Also, economic data may “disappoint in the coming weeks on the back of tighter financial conditions”
  • “We think investors will have ample time to set shorts and still extract value without having to call the low in yields”
  • Best way to cover shorts is by buying long-end TIPS, “which are cheap relative to inflation breakevens”
  • Relative value opportunities include UST 5/10 steepener at 53bp, target 63bp, stop at 50bp, as 10Y point “looks rich” to 5Y point on the UST curve
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Matthew Hornbach (Morgan Stanley)

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UUID: 7947283