Elsewhere on Friday,
- The dollar as a funding currency.
- Thermodynamics and US executive pay.
- A dollar shortage in China?
- What’s up with the UUP Dollar ETF?
- Lessons for the foreign exchange market from the global financial crisis.
US prosecutors on Thursday intensified their crackdown on Wall Street insider trading, revealing criminal charges against 14 people which are related to the case last month against Raj Rajaratnam, founder of the Galleon hedge fund,
Alexei Kudrin, the Russian finance minister, on Thursday visited London to woo investors ahead of Russia’s return to international debt markets for the first time in 10 years. Moscow is seeking up to $17.8bn in eurobond financing next year to cover deficit spending and fund a recovery from an economic contraction of nearly 11% in the first half of this year.
Julian Roberts, chief executive of Old Mutual, said on Thursday that he hopes to reveal the future structure of the life assurance and banking group around its 2009 results next March. Analysts have long expected a break-up of the group’s diverse businesses and there has been renewed speculation that Nedbank,
The complaint documents associated with the latest swoop on those allegedly dealing inside make it abundantly clear the FBI has made very extensive use of co-operating witnesses.
In particular, there is bound to be speculation on the identity of someone referred to as “CS-1,”
In the aftermath of the a fresh series of arrests against individuals allegedly involved in a $20m insider trading ring, the SEC released details of an amended complaint on Thursday.
Those featured in the complaint are a motley crew of hedgies,
Early in New York on Thursday morning, CNBC reported that seven people had been arrested in what was described only as “an ongoing insider trading case related to hedge funds.”
It has since become clear that the arrests are linked to the allegations against Raj Rajaratnam and the Galleon hedge fund.
Outspoken and prolific banking analyst Dick Bove has made a bid for personal victory.
Having been sued in July 2008 by BankAtlantic Bancorp for defamation and negligence over a note written for his previous employer,
Just about “everyone and their uncle” seems to be shorting Japanese government bonds at the moment, notes Louis-Vincent Gave in the latest note from the asset allocation and research house Gavekal.
Friends on trading desks call it the “Einhorn Effect”,
Elsewhere on Thursday,
- Analysing the Fed statement word for word.
- A video with “one of the most influential and yet least well-known people on Wall Street.”
- In praise of ETFs.
- More caution on leveraged ETFs.
New York’s attorney-general on Wednesday alleged that Intel, the world’s biggest chipmaker, had used “bribery and coercion” to maintain its dominant market position after a nearly two-year probe into the Silicon Valley company.
FT higher-ups have been trying to keep the location of a new blog by disgraced former a-b global boss Martin Lukes secret ahead of a full-colour launch on Thursday.
But we’ve found it. It’s here, and it’s called ?Inside Out!
On an initial reading,
The UK’s financial regulator has struck again, and this time the FSA has nailed the big boys.
From the regulator on Wednesday:
FSA/PN/149/2009
04 November 2009
FORMER CORPORATE BROKER INTERN AND FATHER FOUND GUILTY OF INSIDER DEALING
Matthew Uberoi and his father,
New York attorney general Andrew Cuomo filed a federal antitrust lawsuit against Intel on Wednesday. The suit comes after an investigation into the world’s largest chipmaker that started in January 2008.
Is profit, in the words of John Varley, “not satanic” ?
Can big bank bonuses be justified?
Is greed good?
Join the discussion at FT Arena — the Financial Times’ forum for topical debates — where you too can wax lyrical about the soullessness of self-interest or the conscientiousness of capitalism.
Elsewhere on Wednesday,
- If the economy’s stagnant, why are stocks up?
- The edge: a golden opportunity remains.
- On the clash of economic theories (and commentators).
- John Paulson once had self-doubts.
Warren Buffett on Tuesday struck his biggest deal with the $26.6bn purchase of Burlington Northern Santa Fe, one of the largest US railroad operators, in what the billionaire investor called an “all-in wager” on America’s economic future.
Warren Buffett’s Berkshire Hathaway has joined Goldman Sachs in the investment bank’s bid to buy $3bn in tax credits from government-owned mortgage giant Fannie Mae, reports the WSJ. The report comes amid news of Buffett’s $26.6bn purchase of US railroad operator BNSF. Buffett’s involvement adds a twist to an already politically sensitive deal,
Barclays handed more power to Bob Diamond, head of its investment banking arm, in a surprise shake-up on Tuesday that will see Frits Seegers ousted after three years running the global retail and commercial banking business.
A Texas fund that owns more than 1m shares in Bank of America on Tuesday renewed its call for the bank’s board to look at outside candidates to replace CEO Ken Lewis, who will step down at the end of the year.
The Wall Street Journal’s Deal Journal blog has provided lively coverage of the leadership vacuum at Bank of America, as well as colourful background to the bank’s shotgun marriage to Merrill Lynch.
On Tuesday,
Is this the most expensive train set ever?
No it’s this one!
Yup, yup. In one fell swoop Warren Buffett has potentially achieved an ambition of a lifetime and got himself a train set (that is,
For reasons that weren’t immediately clear (to us anyway), the FTSE 100 took a bath on Tuesday morning, falling below 5,000 and breaking its 50-day moving average. European bourses have also fallen sharply.
Just days after agreeing to buy Standard Life Bank, Frits Seegers, the hard-driving boss of Barclays’ global retail and commercial banking and architect of that deal, has “resigned” as part of a “broadening”
Elsewhere on Tuesday,
- The periodic table of finance bloggers.
- Contingent capital’s not cheap.
- “If you have been wondering whether a statistical recovery is at hand…”
- “Cheap shots”
John Fraser, chairman of UBS Global Asset Management, has confirmed that the bank’s fund management arm is not up for sale, drawing a line under months of speculation. The statement comes ahead of UBS’s Q3 earnings announcement on Tuesday,
The recent revival of hedge fund start-ups has sent the clearest signals yet of a rebound in the $1,400bn global hedge fund industry. UK-based Tyrus Capital on Monday became the largest fund to launch so far this year,
Political pressure to cut banks down in size is “totally misguided”, Josef Ackermann, chief executive of Deutsche Bank and chairman of the Institute of International Finance, told a London conference on Monday,
The two largest US and European trade associations for banks and brokers in the securities markets merged on Monday, creating a new body known as the Association for Financial Markets in Europe (AFME).
Hector Ruiz, chairman of Globalfoundries, the chipmaker, has become the highest-profile executive to step down in the aftermath of the Galleon insider trading allegations. The former CEO of Advanced Micro Devices is taking immediate voluntary leave,
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