Yen firms, Asia shares fall on jitters from Cyprus deal
The yen firmed and Asian shares slipped on Monday after an unusual bailout proposal for Cyprus rattled investor nerves, while Friday’s halt to Wall Street’s long winning streak further dampened...
View ArticleFed’s Tarullo like a general fighting the last war
Tarullo says more need to be done to end the ‘too-big-to-fail’ problem. The battle that needs fighting is against lobbyists and campaign contributions because as long as Wall Street is filling...
View ArticleWhy it pays to sell in May
Investors should strongly consider cutting their stock exposure this coming May Day and parking the proceeds in cash until Halloween. That advice comes courtesy of a famous piece of Wall Street...
View ArticleHistoric Day on Wall Street: S&P Breaks 1600, Dow Touches 15000 on Jobs Report
Stocks closed out the week with a bang, with the S&P 500 finishing above 1,600 and the Dow briefly topping 15,000 for the first time, as Wall Street cheered a better-than-expected April nonfarm...
View ArticleRed-faced Bloomberg admits ‘inexcusable’ privacy breach
Bloomberg was today forced to issue a grovelling apology to clients for its “inexcusable” decision to let its journalists use internal customer information in a scandal that has rocked Wall Street and...
View ArticleWall Street traders are freaked by Bloomberg message leak
Bloomberg LP must go further to ensure their customers’ sensitive data is truly secure. The company dodged a bullet last week as traders on Wall Street and in the City of London shrugged off reports...
View ArticleDollar plunges in broad selloff, stocks rebound
The dollar slid against the euro and yen on Thursday as investors reduced heavy bets on the greenback on concerns that Friday’s U.S. jobs report will disappoint. Wall Street rebounded after an early...
View ArticleWall Street goes to war with hackers in Quantum Dawn 2 simulation
Quantum Dawn 2 is coming to Wall Street. No, it’s not a video game or a bad zombie movie; it’s a simulated cyber attack to prepare banks, brokerages and exchanges for what has become an ever-bigger...
View ArticleWall Street is winning the long war against post-crash regulation
Feeble as it was, Dodd-Frank was a high point of reining in abuses. Thanks to financial lobbying, it’s business as usual. Less than ten years ago, if a Wall Street trader wanted to find a sucker to buy...
View ArticleThe ETF Market Kind Of Broke Yesterday
Yesterday’s big selloff exposed a weakness in one of Wall Street’s darling products, Exchange Traded Funds (ETFs), the FT reports, and no one really saw it coming. ETFs are a baskets of goods that can...
View ArticleCorzine off the crook
It’s official. Jon Corzine will not be cuffed over MF Global’s improper handling of customers’ funds leading up to the commodity brokerage firm’s spectacular collapse in late 2011, The Post has...
View ArticleEuro steadies after Italy downgrade blow, Asian shares rise
The euro stabilized on Wednesday after tumbling to a three-month low against the dollar after ratings agency Standard & Poor’s cut Italy’s debt rating, while Asian shares edged up – helped by Wall...
View ArticleU.S. Regulators Approve Stricter Trading Rules Abroad
Federal regulators in Washington reached a last-minute compromise on Friday to expand their oversight far beyond American shores, overcoming internal squabbles and Wall Street lobbying to rein in some...
View ArticleWall Street wants Yellen, not Summers, as next Fed chief
Wall Street overwhelmingly believes President Obama will and should pick Janet Yellen to be the next chairman of the Federal Reserve, according to a survey. Preliminary results of the CNBC Fed Survey...
View ArticleUS regulators warn Wall Street to prepare for hurricane season
U.S. financial market regulators warned Wall Street on Friday to get its act together as the hurricane season approached by reviewing business continuity plans and other preparations for potential...
View ArticleHow to avoid being a Wall Street muppet
On March 14, 2012, Greg Smith resigned from Goldman Sachs in an op-ed published by the New York Times. It was a notable moment in financial history for a couple reasons. First, Smith leveled an...
View ArticleTrades from 1990s come back to haunt Wall Street
In the 1990s, U.S. banks came up with a clever idea: using life insurance to bet that their employees would eventually die. Now those wagers are coming back to haunt Wall Street banks for reasons that...
View ArticleJordan Belfort, the Real Wolf of Wall Street
Jordan Belfort, aka the Wolf of Wall Street, hates it when people describe him as a criminal. “‘Convicted stock swindler’—it’s like it hurts my heart,” he says, practically shuddering. “I know it was...
View ArticleJPMorgan’s Fruitful Ties to a Member of China’s Elite
JP Morgan paid $1.8m (£1.1m) over two years to a small consulting firm run by the daughter of former Chinese premier Wen Jiabao, according to a New York Times report, a relationship that is part of a...
View ArticleMost signs point to market decline
We would ignore all of the talk on Wall Street and in the media about whether the stock market is in a bubble. After all, that’s just a matter of semantics, and whatever we call it, the market is...
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