4 Financial Stock Stories To Kick Off the Trading Week

Credit Suisse Group (NYSE:CS): Current Price $28.87

Goldman Sachs Group’s recruiting of the Credit Suisse Group’s former vice president of emerging markets has left the executive with a lawsuit claiming that she stole her former employer’s trade secrets. According to a complaint in state court in Manhattan, Credit Suisse says that Agostina Pechi took the information in order to gain clients for Goldman Sachs. The May 3 filing also contends that in February and March, Pechi secretly sent e-mails containing client lists and other confidential bank information from her work account to her personal inbox, and printed “critical transaction documents” late at night from her office, when she was officially on vacation.

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Citigroup (NYSE:C): Current price $47.82

Citigroup’s local head of corporate banking Rahul Shukla, says that firms in India may postpone their plans to purchase rivals and add capacity by around three years, as they concentrate more on lowering their record debt. Net debt at non-bank and finance companies on the S&P BSE200 index has more then doubled to $196 billion as of Dec. 31 from $92 billion in 2008, says data compiled by Bloomberg. Shukla calculates that it would require two to three years for companies to reduce their liabilities. Meanwhile, Anjan Ghosh, chief of corporate ratings at the Indian partner of Moody’s Investors Service, believes that a delay in investments could stall Finance Minister Palaniappan Chidambaram’s attempt to revive growth in India.

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The Royal Bank of Scotland Group (NYSE:RBS): Current price $9.11

Chairman Philip Hampton says that his bank’s house-cleaning operation is almost complete, some five years after the United Kingdom was obliged to bail the firm out during the financial crisis. Hampton reports that the bank will collaborate with the government to ready a privatization prospectus by the middle of next year, permitting it to get itself out of what has been a troubled relationship, explaining that “It could be earlier [than 2014], that’s a matter for the government. But certainly we think the recovery process will be substantially complete in about a year or so.”

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Visa (NYSE:V): Current Price $179.30

United states District Judge John Gleeson in Brooklyn said that groups who oppose the Visa and MasterCard Incorporated (NYSE:MA) multibillion-dollar settlement of swipe-fee price-fixing claims, will not be held in contempt for not fully correcting websites he found misleading. The judge said he would “give the benefit of the doubt” to trade associations opposing the agreement, and directed them to better police the websites for misstatements remarking that “I think there’s a powerful incentive for the objectors to be sure they’re not basing their argument on ground that’s not so firm.” Gleeson said that on April 11 that the sites contained “bad information” that might have prompted some merchants to drop out of the settlement, and he ordered the groups to make corrections at that time.

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