SEC slams NYSE for sending market data to proprietary customer feeds before the one for the wider public (“the disparities ranged from single-digit milliseconds to, on occasion, multiple seconds”).
And it does a diagram. Read more
Norwegian oil workers shut down a chunk of the country’s production for 16 days in July over a pay dispute. With the summer over, further strikes are being discussed.
Being such a wealthy country, and with a robust social safety net, it does make one do a double-take when a strike in Norway is over pay. Is the case of the Norwegian oil workers a textbook study on how labour in the rich world is incentivising companies to deploy more technology in their production processes, thereby inadvertently making itself increasingly redundant? Read more
Capping a wild week in risk — Spain’s Ibex 35 up 40 per cent since the late July low, shares in Bank of America are now up 72 per cent, year to date. Read more
It’s been a lively few weeks for Monster Worldwide, the recruitment website.
For a company that’s been for sale since February, that’s quite a move. BofA Merrill Lynch and Stone Key Partners have been courting buyers for the past six months and final-round bids went in this week, according to Dealreporter (subscription required). Read more
Live markets commentary from FT.com
Standard & Poor’s has been getting very interested in China’s companies’ risk profiles recently, amid rapid growth for the country’s immature corporate bond market in the past year.
The ratings agency has already published a whole set of reviews into Chinese banks. On Friday, it released a study of 107 large Chinese companies evaluated for business risk and financial risk. Read more
We have written extensively about how the global economy is becoming increasingly technology-intensive, and reaping productivity gains.
Robots, we’ve argued, are slowly taking over in the workplace. And there are plenty of anecdotal examples, such as these noodle-slicing beings from China. But sales figures also confirm that more robots are being sold than ever before. Read more
Asian stocks rose after the Federal Reserve outlined new easing measures on Thursday. The MSCI Asia Pacific index advanced 1.1 per cent with South Korea’s Kospi Composite index jumping 2.4 per cent, and Australia’s S&P ASX 200 adding 1.1%. Japan’s Nikkei 225 Stock Average gained 1.6%, topping 9,100 for the first time since August 28. Hong Kong’s Hang Seng index rose 2.3% while China’s Shanghai Composite index added 0.7%. (Financial Times)(Bloomberg)
The yield on mortgage securities guaranteed by Fannie Mae fell to a record low after news of the Fed’s planned MBS purchases. Yields were down by 24 basis points to 2.12%. The buying frenzy, by investors trying to get in before the Fed makes its first purchases, was in contrast to the initial sell-off in Treasuries, which some investors had hoped would be the focus of the central bank’s easing programme.(Financial Times) Read more