Halister News

(Bloomberg) -- The following news may affect European financial shares today: COMPANY NEWS

• AIB Takes Spotlight as Ireland Plans Biggest 2017 London IPO
• Vittorio Malacalza to Withdraw Confidence in Carige CEO: Ansa
• Co-Op Bank Said to Head for Debt-for-Equity Swap as Options Fade
• Deutsche Bank Fined $41 Million for Money-Laundering Lapses
• Deutsche Bank, China Development to Finance Silk Road Plan: HB
• Generali Sells 3% Stake in Intesa, Keeps ‘Marginal Exposure’
• IG Group Expects Full-Year Revenue to Rise ~7% From Last Year
• Sweden Says ‘Ambition’ Is to Keep Nordea as Fee Talks Continue
• Raiffeisen Seeks More Talks as Polish IPO Deadline Approaches
• SocGen CFO: ‘Reasonably Optimistic’ for Russian Business Outlook
• UBS to Move Jobs to Biel From Zurich on Cost Grounds: NZZ

SECTOR NEWS

• Deutsche CEO Says Europe Must Fight U.S. Mortgage Capital Rules
• EU’s Bid to Revive Securitization Gets Boost in Lawmakers’ Deal
• Wall Street Innovators Seen as Next Step for Pension Deals
• Poland’s PKO Would Be Interested in ‘Big’ Czech Bank, Puls Says
• Fed’s Brainard Says Soft Inflation May Warrant Rate Rethink 

ANALYST ACTIONS

• ING Cut to Hold at HSBC, PT EU15.20
• ING Downgraded as Shares Catch Up With Potential, HSBC Says
• Commerzbank Raised to Buy at UBS, PT EU11.50
• Henderson Group New Market Perform at KBW, PT $32

BLOOMBERG INTELLIGENCE

• EU Banks Kick Credit Risk Can Down Road, Yet 2018 Risks Lurk
• Risk to Bank Earnings Masked by Policy, Years of Falling Charges
• Barclays, Peers Have Strong Arguments to Get Terror Suit Tossed
• RBS, Credit Agricole Units Grapple With Terror-Finance Lawsuits
• European Banks Aim to Dismiss U.S. Soldiers’ Terror-Finance Suit
• BI Litigation Primer: Barclays
• BI Industry Primer: Is Future as Low Risk as EU Banks Discount?

PEOPLE

• Ex-UBS Banker’s Parents Bought Into China IPOs He Helped Arrange
• Credit Suisse Hires BofA’s Veteran Equities Manager Crofton
• BofA’s Veteran Equities Head Crofton Leaves for Credit Suisse
• Citi Hires Watanabe From JPMorgan as Japan Regulatory Specialist

(Bloomberg) -- (Updates with comment from Gupta family lawyer in final bullet.) South African Mineral Resources Minister Mosebenzi Zwane and the Gupta family, who are close associates of President Jacob Zuma, have been linked to Parasmal Lodha, a businessman from India who was arrested in Mumbai for money laundering, Johannesburg-based Business Day newspaper reports, citing leaked emails.

• Lodha traveled with Zwane and members of the Gupta family to Switzerland in December 2015
• Zwane confirmed he traveled to Switzerland on an official visit in December 2015 in a reply to questions in parliament, after denying he had undertaken a trip to the country in January 2016 to negotiate the purchase of Optimum Coal from Glencore
• Calls and text messages by Bloomberg News to Zwane’s spokesman Martin Madlala were not immediately answered; Gupta family lawyer Gert van der Merwe was consulting clients and unable to take a call
• NOTE: Tegeta Exploration & Resources, owned by the Gupta family and a venture fund in which Zuma’s son is an investor, secured at least three coal-supply contracts with South African power utility Eskom once its takeover of Glencore unit Optimum was completed
• Feb. 12 2016, Gupta-Zuma Company to Hold Three Eskom Coal-Supply Contracts Link
• “The emails upon which these people rely for news are tampered with, not authentic and have been used in a political smear campaign against the family and the business,” Gert van der Merwe, a lawyer for the Gupta family, says by phone 
• Emails are subject of a criminal investigation following suit by the Democratic Alliance, which render them sub judice, he says

To contact the reporter on this story: Amogelang Mbatha in Johannesburg at ambatha@bloomberg.net To contact the editors responsible for this story: Rene Vollgraaff at rvollgraaff@bloomberg.net Ana Monteiro

(Bloomberg) -- South African Mineral Resources Minister Mosebenzi Zwane and the Gupta family, who are close associates of President Jacob Zuma, have been linked to Parasmal Lodha, a businessman from India who was arrested in Mumbai for money laundering, Johannesburg-based Business Day newspaper reports, citing leaked emails.

• Lodha traveled with Zwane and members of the Gupta family to Switzerland in December 2015
• Zwane confirmed he traveled to Switzerland on an official visit in December 2015 in a reply to questions in parliament, after denying he had undertaken a trip to the country in January 2016 to negotiate the purchase of Optimum Coal from Glencore
• Calls and text messages by Bloomberg News to Zwane’s spokesman Martin Madlala were not immediately answered; Gupta family lawyer Gert van der Merwe was consulting clients and unable to take a call
• NOTE: Tegeta Exploration & Resources, owned by the Gupta family and a venture fund in which Zuma’s son is an investor, secured at least three coal-supply contracts with South African power utility Eskom once its takeover of Glencore unit Optimum was completed
• Feb. 12 2016, Gupta-Zuma Company to Hold Three Eskom Coal-Supply Contracts Link

To contact the reporter on this story: Amogelang Mbatha in Johannesburg at ambatha@bloomberg.net To contact the editors responsible for this story: Karl Maier at kmaier2@bloomberg.net Ana Monteiro, Jacqueline Mackenzie

(Bloomberg) -- Macau’s casino regulator plans to report May gross gaming revenue data between June 1 and June 3, according to Gaming Inspection & Coordination Bureau website. ESTIMATES

• May gross gaming revenue median estimate +16.5% y/y to 21.42 billion patacas ($2.67 billion), according to 9 analysts surveyed by Bloomberg News
  • Estimate range +14% to 25%
• NOTE: Monthly GGR +16.3% in April, gaining for 9th straight month

WHAT TO WATCH

• Bernstein (Vitaly Umansky): Dragon boat festival holidays may help with gross gaming revenue strength into the end of May
• JPMorgan (DS Kim): New measures to check identities of Chinese UnionPay ATM cardholders before they can withdraw cash in Macau will probably remind many investors of how vulnerable the gaming sector is to regulatory issues
• Wells Fargo (Cameron McKnight): VIP growth could stall once the effect of last year’s economic stimulus and Chinese housing bubble wear off

BLOOMBERG DATA

• Melco Resorts is highest-rated among casino operators listed in BI Macau (China) Gaming Market Index, according to Bloomberg consensus analyst ratings
  • SJM Holdings is lowest rated
• 6-member index +21% YTD
  • Wynn Macau +39%, Melco Resorts +38%, Galaxy Entertainment +30%, SJM Holdings +22%, Sands China +5.6%, MGM China +5.5%

RELATED STORIES

• May 17: Macau Gaming Regulator Paulo Chan Cautious on Recovery
• May 16: China Wants More Regulation, Transparency in Macau Gaming: Lui
• May 8: China’s State Leader Zhang Says Macau Faces Challenges
• May 8: Macau Introduces New ATM Rules to Deter Chinese Money Laundering
• May 2: Melco’s Billionaire Ho Sees Macau Gaming Returning to Peak

To contact the reporters on this story: Lisa Pham in Hong Kong at lpham14@bloomberg.net; Daniela Wei in Hong Kong at jwei74@bloomberg.net To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net Jonathan Annells

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.

• To get this story sent to your inbox real-time, run NI INRATINGS, click on Display & Edit, then Set Alert Delivery

DOWNGRADES

• Reliance Communications
  • NCDs, long-term fund-based and non-fund based limits cut to D from BB at ICRA
  • Long-term limits of Reliance Infratel and Reliance Telecom also reduced to D from BB at ICRA
  • Cites delays in debt servicing by the Reliance Communications’ group given its weak internal cash flow generation as against sizable debt servicing obligations
  • Care Ratings too has downgraded Reliance Communications’ LT bank facilities to D from BB citing delays in servicing of its debt obligations
• VGN Developers
  • NCDs cut to D from BB-(SO) at Crisil
  • Cites delays in debt servicing due to weak liquidity
• Vinar Systems
  • LT bank facilities cut to BBB- from BBB at Crisil
  • Cites subdued profitability parameters

UPGRADES

• Mahakaushal Sugar
  • LT bank facilities raised to BB+ from BB- at Crisil
  • Cites growth in revenues
• Makson Health Care
  • LT bank facilities cut to BBB from BB+ at Crisil
  • Cites healthy revenue growth, improvement of operating profitability
• Rico Auto
  • Term loans raised to A- from BBB+ at India Ratings
  • Cites improvement in financial profile
• SCOPE T&M
  • LT bank facilities raised to BBB from BBB- at Crisil
  • Cites healthy growth in revenue, cash accrual
• Shreyas Sortex
  • LT bank facilities raised to BB- from B at Crisil
  • Expects company to sustain its improved business risk profile over the medium term due to recent capacity expansion