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Entries tagged "Banco Santander"Madoff investment comes back to haunt Banco SantanderBanco Santander SA is proud of the fact that it's emerged relatively unscathed from the credit crisis and has been able to strike bargain-basement deals in the U.K. in the process. But the faint whiff of smugness has smelled wrong ever since the Madrid bank revealed last month that it had €2.3 billion ($3.1 billion) of clients' money invested in funds affiliated with Bernard Madoff, mastermind of an alleged $50 billion investment fraud. Now Spanish prosecutors are reportedly trying to find out exactly how it managed to lose the money -- more than any other bank that did business with... Barclays investors: Bitter, but resignedHave shareholder rights become an oxymoron? Stockholders in British banks are starting to wonder as the financial crisis trounces assumptions about what they should expect.Starting with the nationalization in February of Northern Rock plc, through to Banco Santander SA's low-ball £1.3 billion ($1.9 billion) offer for Alliance & Leicester plc in July, on to September's government-brokered takeover of HBOS plc by a bank half its size, and finally to October's £37 billion banking bailout, which temporarily banned dividend payments, the investor climate has become undeniably harsher.... Fuddy-duddy banks feast on their once flashy peersBoring is beautiful in banking, and we should all be excited at the prospects of the world being populated soon by more boring bankers. There is a Darwinian process of natural selection taking place among banks now, and it is those financial fuddy-duddies in their pin-striped suits who are feasting on their once flashier peers.... Bank Watch: Dow surges over 900 pointsStocks rallied. The Dow shot up 936 points surging to 9,387, the Nasdaq gained 194 points to 1,844.25, and the S&P 500 climbed 104 points to 1,003. It was a good day for financial institutions, which had been battered last week by the market. Particularly Morgan Stanley's stock is recovering after the company closed a $9 billion deal to sell a 21% stake to Mitsubishi UFJ Financial Group Inc. On the other hand, Sovereign Bancorp Inc.'s shares were down after reports that Banco Santander SA confirmed it was in negotiations to buy the largest remaining U.S. savings and loan. -... Europe's new financial bailoutsThe global credit crisis claimed three new European casualties on Monday -- Dutch-Belgian bank Fortis Bank NV/SA, U.K. mortgage lender Bradford & Bingley plc and German real estate lender Hypo Real Estate Holding AG. ... Are banks holding up InBev offer?Although reports that InBev NV was putting together a bid for Anheuser-Busch Cos. surfaced over a week ago, the European brewing giant is still working out a $50 billion financing package. ... Santander may answer Sovereign's SOS signalBanco Santander SA has a major presence in Europe and Latin America, but when it comes to the U.S its only beachhead in the country is its minority holding in Sovereign Bancorp. So, when the second-largest savings and loan pronounced a potential crisis, its Madrid-based parent along with other investors are reportedly making plans to send help in the form of a $2 billion capital infusion.... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Banco Santander." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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