4 Financial Stock Stories to Kick Off Another Trading Week

American International Group Inc. (NYSE:AIG): Current price $46.33

The United States Court of Federal Claims Judge Thomas Wheeler ruled Monday that the former AIG chief Hank Greenberg should be allowed to depose Federal Reserve Chairman Ben Bernanke as a part of his lawsuit against the insurer’s 2008 bailout, according to Reuters. Wheeler cited “extraordinary circumstances,” which allow for Greenberg’s lawyers to take a deposition from Bernanke, explaining, “Indeed, the court cannot fathom having to decide this multi-billion dollar claim without the testimony of such a key government decision maker.” Greenberg’s present firm, Starr International Co. Inc., filed a complaint alleging that the government took over AIG so it could supply “backdoor bailouts” to Goldman Sachs, Bank of America, J.P. Morgan Chase, along with other banks.

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Citigroup (NYSE:C): Current price $51.69

Citi has improved its world web-based investment service Citibank Online Investments, offering new account options for money market mutual funds. Nominee and Fully Disclosed account options permit clients to leverage all key features and benefits of the current omnibus account model, including balance and dividend reporting, straight-through processing, consolidated online trades, as well as direct automated settlement to a Citibank operating or custody account, while meeting clients’ needs for additional disclosure reporting.

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Barclays Plc (NYSE:BCS): Current price $19.02

The United Kingdom’s number two bank by assets might reinforce capital by divesting contingent convertible bonds, said two inside sources, who also said that the bank is being pressed by the Prudential Regulation Authority, and is leaning towards issuing CoCos rather than new stock. Barclays was okayed by shareholder approval at its meeting on April 25 to sell CoCos, which will become shares if its core Tier 1 equity ratio falls below a set level. Analysts calculate that the bank holds the least amount of capital as a proportion of its assets of Britain’s four largest banks, and so must either raise £7 billion in equity, or reduce £240 billion of assets to meet a 3-percent leverage ratio set by the Bank of England’s PRA if it’s forced to comply in 2013.

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Evercore Partners Inc. (NYSE:EVR): Current price $45.31

It is thought that Evercore is readying itself to take a bigger portion of the Asian deal market, as it opens a Singapore office that will provide merger and acquisitions capital markets and strategic advice to firms all over Southeast Asia. The investment bank has hired Keith Magnus to lead its Singaporean unit from UBS, where he is currently the chairman and chief of Singapore and Malaysia investment banking. The Singapore office will be Evercore’s second in Asia after Hong Kong.

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