The past few months have been pretty frustrating for France's BNP Paribas ( OTCQX:BNPQY )( OTCQX:BNPQF ). While the European financials space has continued to climb, shares of the Eurozone's largest bank have gone inI like to take a long term, buy-and-hold approach to investing, with a bias toward stocks that can sustainably post high quality earnings. Mostly found in the dividend and income section. Blog about various US/Canadian stocks at 'The Compound Investor', and predominantly UK names on 'The UK Inco ...

0:00 市场瞩目的中金公司合并案刚刚揭晓答案！ 11月19日晚，中金公司、东兴证券、信达证券同时发布停牌公告，确认中金将通过换股方式吸收合并后 两家券商。 中金凭借其在高端投行和国际化业务的领先地位，与东兴、信达在区域布局和零售网络上的深厚根基完 美结合。合并后，三家券商营业部总数将跃居行业第三，资本规模突破1700亿元，构建起从高端投行到 基层网点的全链条服务能力。 21世纪经济报道 记者 崔文静 更值得关注的是，这次合并开创了"汇金系"券商整合新模式。通过大券商整合中小券商，实现了难度更 低、协同效应更强的重组路径。一个业务更全面、实力更强劲的券商新巨头正在崛起！ 三家券商于11月20日开市时起停牌，预计停牌时间不超过25个交易日。 这次合并的最大意外在于，此前被市场看好的银河证券并未入局，取而代之的是同属中央汇金旗下的东 兴证券和信达证券。 ...

Core Viewpoint - The merger of CICC, Dongxing Securities, and Xinda Securities marks a significant consolidation in the securities industry, driven by CICC's strategic acquisition approach and the alignment of interests under the central financial authority [5][10]. Group 1: Merger Details - CICC will absorb Dongxing Securities and Xinda Securities through a share exchange, with the merger officially announced on November 19, 2023, and trading suspension starting November 20, 2023, for up to 25 trading days [1][5]. - The merger is part of a broader trend of deep integration among securities firms following the release of the new "National Nine Articles" in 2024 [1]. Group 2: Business Complementarity - CICC excels in high-end investment banking and international business, reporting a revenue of 20.76 billion yuan and a net profit of 6.57 billion yuan for the first three quarters of 2025, reflecting a 130% year-on-year growth [8]. - Dongxing Securities and Xinda Securities have strong foundations in mid-to-back-end services and regional markets, with Dongxing achieving a net profit of 1.6 billion yuan (up 70%) and Xinda 1.35 billion yuan (up 53%) in the same period [8]. Group 3: Resource Integration and Development Opportunities - The combined net assets of the three firms will exceed 170 billion yuan, significantly enhancing capital strength and supporting business expansion [10]. - The merger will facilitate customer resource integration, allowing CICC's high-net-worth clients to access services through Dongxing and Xinda's extensive branch networks, while retail clients will benefit from CICC's wealth management products [10][11]. - The merger is expected to reshape the competitive landscape of the securities industry, enhancing the combined entity's capabilities across the entire business chain [10][11].

Federal Reserve Governor Stephen Miran on Wednesday called for regulators to exempt U.S. Treasury bonds from a key bank leverage ratio, arguing agencies should go further than previously proposed plans. ...

The explosive rise of stablecoins has triggered pressure from U.S. banks and regulators on the Basel Committee to reconsider its stringent capital requirements for crypto assets. Despite being marketed as lower-risk digital currencies, stablecoins remain subject to the same harsh regulatory treatment as volatile cryptocurrencies under current Basel rules. Erik Thedéen, chair of the Basel Committee on Banking Supervision, acknowledged in a Financial Times interview that the global framework needs recalibr ...

Core Points - The "2025 Shenzhen International Financial Conference" opened in Qianhai, Shenzhen, focusing on "Building a Financial Power and High-Level Opening Up of the Greater Bay Area" [2] - The conference is part of the 19th Shenzhen International Financial Expo, hosted by Renmin University of China [2] Group 1: Key Participants and Speakers - Notable attendees included former Vice Chairman of the China Insurance Regulatory Commission Zhou Yanli, former Vice Chairman of the National Social Security Fund Wang Zhongmin, and other prominent figures from academia and finance [4] - Former South Korean Prime Minister Han Seung-soo delivered a video address, emphasizing Shenzhen's role as a global financial hub [5] Group 2: Objectives and Themes - The conference aims to construct a Chinese financial knowledge system, promote a "technology-industry-finance" cycle, and explore financial system innovation and cooperation [5][6] - The establishment of the "International Financial Talent Practice Base of Renmin University" was announced, focusing on cultivating high-quality financial professionals [6][8] Group 3: Conference Activities - The conference will feature three plenary sessions and nine parallel meetings covering topics such as financial culture, artificial intelligence, and cross-border cooperation [9] - Research reports will be released, including analyses of the financial situation and guidelines for financial industry applications [9] Group 4: Strategic Importance - The conference is positioned as a platform for high-level international dialogue, aiming to contribute to the financial reform and regional cooperation in the Greater Bay Area [9] - Renmin University is committed to aligning with national strategies and supporting the development of the Greater Bay Area through collaboration with local financial institutions [9]

Key Takeaways COF's October data showed higher card NCOs at 4.77% and rising delinquencies now above pre-pandemic levels.Growing consumer strain and an 82% jump in provisions underscore pressure on COF's credit metrics.Loan growth and strengths in card operations and acquisitions help buffer COF against asset-quality weakness.Capital One (COF) is entering a more challenging credit environment as rising net charge-offs (NCOs) and delinquencies signal mounting pressure on its consumer portfolios. Per the late ...

Core Viewpoint - The article compiles significant research calls from Wall Street, highlighting upgrades for various companies that investors should be aware of [1] Group 1: Company Upgrades - Jefferies upgraded DoorDash (DASH) to Buy from Hold with a price target of $260, increased from $220, citing faster growth in U.S. restaurant delivery as a reason for a more bullish outlook [2] - Nomura upgraded Baidu (BIDU) to Buy from Neutral with a price target of $140, up from $135, due to the substantial growth potential of its 69% owned chip-design subsidiary, Kunlunxin, and management's consideration of enhancing capital returns [2] - UBS upgraded Insulet (PODD) to Buy from Neutral with a price target of $400, raised from $355, anticipating sustained growth momentum through the end of the decade [2] - Jefferies upgraded Zions Bancorp (ZION) to Buy from Hold with a price target of $60, up from $55, arguing that the stock's pullback related to alleged fraud charges is overdone [2] - Goldman Sachs upgraded Medtronic (MDT) to Neutral from Sell with a price target of $111, increased from $81, noting improved new product momentum and positive overall P&L metrics post Q2 results [2]

汇金系券商大整合迈出第一步！ 11月19日晚间，中金公司、东兴证券、信达证券发布《关于筹划重大资产重组的停牌公告》，三家公司正在筹划由中金公司通过向东兴证券和信达证券全 体A股换股股东发行A股股票的方式换股吸收合并东兴证券、信达证券。 这意味着，中央汇金旗下券商将减至6家，分别是中金公司、中国银河证券、中信建投、申万宏源、光大证券以及长城国瑞证券。 三家券商明日起停牌 中金公司公告称，公司A股股票将于2025年11月20日（星期四）开市时起开始停牌。本次重组涉及到A+H股两地上市公司同时吸收合并两家A股上市公 司，涉及事项较多、流程较为复杂，根据上海证券交易所的相关规定，预计停牌时间不超过25个交易日。 | 证券代码 证券简称 停复牌类型 停牌起始日 停牌期间 停牌终止日 复牌日 | | | | --- | --- | --- | | ୧01992 | 中金公司 A 股 停牌 | 2025/11/20 | 信达证券、东兴证券亦公告称，公司A股股票将于2025年11月20日（星期四）开市时起开始停牌，预计停牌时间不超过25个交易日。 信达证券股份有限公司 关于筹划重大资产重组的停牌公告 本公司董事会及全体董事保 ...

本报（chinatimes.net.cn）记者卢梦雪 北京报道 收购地方银行不良资产，中原资产管理有限公司（下称"中原资产"）再次出手。 根据11月17日披露的信息，中原资产已与洛阳农商银行、河南浚县农商银行、鹤壁农商银行签署协议， 拟以52.77亿元的转让价款收购3家银行不良资产。 值得一提的是，本次转让不良资产的3家农商银行，都在河南农信尚未完成改革的34家农商银行（农信 社）名单之中。有业内人士认为，此前河南地方AMC（资产管理公司）参与了多家中小银行的不良资 产处置，处置完成后，相关银行陆续被吸收合并，本次农商行的不良资产处置或也在为河南农商行的后 续改革做准备。 中原资产再收购3家银行不良 两次吸收合并后，河南农信系统尚余34家（农信社）待推进改革，本次向中原资产转让不良资产的3家 银行均在其中。 有业内人士向《华夏时报》记者分析认为，此次3家银行转让不良资产，或在为河南农信进一步改革做 准备。 "一次性整合上百家机构，对省级管理机构是巨大挑战。采取分阶段、分批次吸收合并，往往优先整合 风险较高的农信机构，可防止个别机构的问题蔓延至整个系统，分批次进行也可逐步消化整合过程中存 在的问题。" 招联首席 ...