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Citywire Top Stocks Daily News Digest

by Himanshu Singh on Dec 12, 2012 at 03:14

All the news from across the web about the companies featured in Citywire's Top Stocks

Reuters: The Spanish stock market regulator on Tuesday fined the Spanish arm of Barclays $775,600 for under-rating the risk of bonds it sold to clients in 2008
FINalternatives: Barclays will spin-off its Los Angeles-based trading operation at the end of the year, Absolute Return magazine reports

The Age: Stuart Alfred Fysh, a former executive vice-president at British Gas (now BG Group), was convicted of two counts of insider trading relating to his purchase of Queensland Gas Company shares in December 2007

Reuters: Rosneft will announce within days it has finalised a deal to buy half of domestic peer TNK-BP from AAR for $28 billion, several sources familiar with the situation said
The Voice of Russia: TNK-BP subsidiary Samotlorneftegaz has bought a major Russian oilfield Lodochnoye in the Krasnoyarsk region for $151.8 million at an auction

Reuters: Diageo has pulled out of talks to buy a stake in top-selling tequila brand Jose Cuervo
Reuters: Shares in Diageo fell 1.6 pence from an all time high of 1,887 pence hit on Monday as the firm ended negotiations that had widely been expected to result in a deal to buy a stake in Jose Cuervo

Fox Business: GlaxoSmithKline is planning a two-part, sterling-denominated bond issue, one of the banks running the deal said on Tuesday
Houston Business Journal: For the first time The University of Texas M.D. Anderson Cancer Center has partnered with GlaxoSmithKline in a deal that could bring in an estimated $335 million over the life of the agreement

The Independent: Senior executives at HSBC are to reportedly defer a portion of any bonuses they are awarded for the next five years under the terms of a record €1.9 billion settlement with the US Department of Justice
Financial Times: HSBC will spend $700 million on a global “know your customer” programme, as part of a 26-point plan agreed with US regulators to settle money laundering and sanctions breaches
Financial Times: HSBC Global Asset Management has altered the business model of its exchange traded funds operations by adding a second official market maker who will help to improve the trading liquidity of its ETF range