A weekly compilation of news from around the world of investor relations. Compiled and edited by Pam Agnew, ABC.
Nine Euro Nations’ Ratings Cut, Seven Affirmed by S&P
France and Austria lost their top credit ratings in a string of downgrades that left Germany with the euro area’s only stable AAA grade as Standard & Poor’s warned that crisis-fighting efforts are still falling short. Bloomberg
NYSE-Deutsche Boerse Appeal Direct to Barroso in Fight for Exchange Merger
NYSE Euronext and Deutsche Boerse AG appealed directly to European Commission President Jose Barroso as they fought to salvage their merger, arguing that blocking it would “represent a serious missed opportunity at a critical juncture for Europe.” Bloomberg
Raymond James to Buy Morgan Keegan
The deal will create one of the largest brokerages in the US, behind Morgan Stanley Smith Barney and Bank of America’s Merrill Lynch. Wall Street & Technology
RBS Waves Goodbye to the Bulge Bracket
RBS announced that it would exit the equities, merger advisory, and corporate broking businesses and slash 3,500 jobs in its Global Banking and Markets division. Institutional Investor
Exchange-Traded Junk Funds Roil Bond Market
A measure of volatility over 30-day periods for the Finra’s Active High Yield U.S. Corporate Bond Index rose to as high as 11.1 in November, from 1.5 in May. Bloomberg
IR Service Provider of the Week
SNL IR Solutions builds and manages IR Web sites for companies in various industries across the market cap spectrum, from multibillion-dollar financial institutions and REITs to small community banks — and everywhere in between.
Be featured here by adding your company to the IR Services Directory at the Premier Listing Level
Dividends Rise in Sign of Recovery
Dividends are on track to set a record of more than $252 billion in 2012, according to data released by S.& P. that is based on the current dividend rates of 394 companies. New York Times
Technology Leads a Week of 5 New US IPO Filings, 5 IPOs Added to Calendar
Technology companies were the center of attention in the US IPO market this week. Renaissance Capital
Thai Bourse Expects IPOs to Raise $3.8 bln in 2012
“We have a lot of plans to try to bring some international products in to the Stock Exchange of Thailand like Thai DRs, so some of the leading foreign companies will be listed on the exchange.” Reuters
China Sets Up New Agency to Protect Investors
The launch of the bureau and other steps by the CSRC in the past few months are a response to a string of stock market scandals in recent years that have hurt domestic investors, including pump-and-dump schemes and insider trading. Reuters
Italian Regulator Extends Short-Selling Ban on Banks to Feb. 24
The restrictions, in place since August, prohibit investors from betting against the shares and equity derivatives of banks and insurance companies. Bloomberg
France Eyes All Securities With Tobin Tax
France wants to target bonds and derivatives, as well as stocks, with a new tax on financial transactions which the conservative government hopes to introduce before an April presidential election. Reuters
SEC Weighs Rules on Analysts’ Dealings With Investment Bankers
The Commission may require Wall Street firms to keep a physical separation between their research analysts and investment bankers and ban bankers from influencing which companies the analysts cover. Bloomberg
Insight: SEC Tightens Leash on Exchanges Post “Flash Crash”
The SEC took the unprecedented step of serving exchanges with non-disclosure agreements, effectively muzzling them to prevent further public bickering and to get the fierce competitors to work together. Reuters
Pay of Top US Execs Soared From 2008 to 2010, Research Shows
A general disconnect is evident when comparing market performance against the average pay awarded to executives. Pensions & Investments
Federated Cryptically Votes Nay on Corporate Pay
Federated Investors Inc objected to hundreds of executive pay packages in last year’s US corporate proxy voting, a rarity in the don’t-rock-the-boat mutual funds industry. Reuters
Lawndale Mows Down CEO’s Salary
“This is the first time I’ve ever seen a shareholder action reduce compensation on an incumbent CEO.” Institutional Investor
The UK Considers Binding Say-on-Pay Votes
The practicalities surrounding the introduction of a binding vote remain unclear. ISS
Executive Compensation – Tips for Preparing Your Company’s 2012 Proxy Statement
Our panelists had a number of tips for companies as they approach the second year of say-on- pay and prepare their proxy statements. The Conference Board
Wedbush Traders Get Green Light to Tweet
Wedbush Securities has launched a new social media initiative for financial advisors, investment bankers and equity traders that encourages them to use Twitter, LinkedIn and Facebook to boost their respective books of business. Securities Technology Monitor
Google Adds Posts From Its Social Network to Search Results
Google sparked controversy when it made some of the biggest changes ever to its search results, adding content from its fledgling Google Plus social network. New York Times
China’s Internet Users Breach Half Billion Mark
At the end of November, the number of microblog users exceeded 300 million, jumping from 195 million at the end of June. Reuters
Pam Agnew, ABC is a director of IR Web Reporting International Inc. and an award-winning communicator. She has more than 20 years of corporate and agency experience in investor, crisis, corporate, media, stakeholder and sustainability communications on four continents for leading global companies as well as stock exchanges, securities regulators and large institutional investors.
Subscribe to feed