ING DISPOSING of Asian Assets and 3 Hot Stocks Trading Today
Judges have dismissed fully or in part claims on Bank of New York Mellon (NYSE:BK) by some state and local pension funds for alleged overcharging of clients on currency transactions. Though the bank is looking good legally, it still faces the risk of these plaintiffs re-filing their claims, and other litigation.
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Speaking at the Barclays’ Financial Services Conference, Wells Fargo (NYSE:WFC) CFO Tim Sloan lets drop that already low net interest margins could fall further in Q3 in a scenario of higher deposit inflows and reduced high-yielding securities.
AIA is reportedly in pole position to acquire ING’s (NYSE:ING) Southeast Asian operations in what could be a $2 billion deal. ING is disposing Asian assets piecemeal due to difficulties in selling it en bloc, as it looks to fulfill its bailout obligations.
Wal-Mart (NYSE:WMT) executives reveal that the retailer may open 3 to 5 new wholesale outlets in India together with its joint venture partner. In what could be the prelude to an on-line thrust for the region, Wal-Mart is also reported to be hiring for the Indian @WalmartLabs unit.
Reports of Italian coffee firm Luigi Lavazza raising its stake to 6.8 percent in Green Mountain Coffee Roasters (NASDAQ:GMCR) has shares of the latter moving up in trades before the bell.