Spain to Announce New Budget Amid Violent Protests; More Banks Targeted in Cyber Attacks: Roundup

Investors will be watching Spain’s 2013 budget plan, to be announced today, for indications that the government is laying the ground for a bailout request. If it makes investors happy, it’s likely to make Spaniards mad, as demonstrations turned violent yesterday outside the Spanish parliament building in Madrid. In either case, Prime Minister Mariano Rajoy will be far from the drama: He’s in New York this week to attend meetings at the United Nations, and has been showing up in Spanish newspapers on Sixth Avenue, smoking a cigar.

Joe Wiesenthal reads into a video of a Spanish bar owner yelling at cops yesterday, as anti-austerity protests turned tense.

Also: Greece. Yesterday’s protests in photos.

U.S. Bancorp and PNC Financial Services are the latest banks to experience slowdowns on their consumer websites, said to be the result of cyber attacks. Bank of America and JPMorgan Chase seemed to be the focus of attacks last week.

Mergers and acquisitions have slumped to their lowest level since the third quarter of 2009, when the financial crisis stemmed dealmaking.

Hedge fund managers may be facing lower bonuses this year, as many funds failed to adequately recover from poor performances in 2011, The New York Post reports.

Banks will pay out lower bonuses, rather than cut jobs, to control costs this year, Morgan Stanley banking analyst Betsy Graseck told Bloomberg.

Nomura continues its restructuring with plans to eliminate 30 jobs in its Americas equities division, according to Bloomberg. The Japanese firm is also cutting 100 investment banking jobs in Europe as it attempts to shed $1 billion in costs under new CEO Koji Nagai.

Credit Agricole chief executive officer Jean-Paul Chifflet expects a deal to sell its Greek lender Emporiki in the next few weeks, according to Reuters. The price may be a symbolic 1 euro.

Hong Kong tycoon Cecil Chao is offering a $65 million bounty to the man who can win the heart of his lesbian daughter.


  Spain to Announce New Budget Amid Violent Protests; More Banks Targeted in Cyber Attacks: Roundup