News Archive from November 16, 2012

Federal Reserve Releases Scenarios for Bank Stress TestsNovember 16, 2012The Federal Reserve released the economic scenarios, including a hypothetical sharp slowdown in China, that the biggest banks will use in the next round of stress tests.
MF Global Report: Regulators Need Better Grip on FinanceNovember 16, 2012Poor supervision contributed to the downfall of futures brokerage MF Global, House Republicans said in a report.
Breaking Up Big Banks Still Not the AnswerNovember 16, 2012There remains much work to fix the "too big to fail" bank problem, but breaking up big financial institutions is still not the answer.
As Layoffs Near 160,000, Banks Seen Shrinking for GoodNovember 16, 2012Major banks have announced some 160,000 job cuts since early last year and with more lay-offs to come many will leave the shrinking sector for good.
DTCC Finds 1.3 Mln Soaked Securities in Sandy-Flooded NY VaultNovember 15, 2012The Depository Trust & Clearing Corp., which processes financial transactions and stores securities, has begun the long process of recovering about 1.3 million soaked securities that were stored in a 10,000-square-foot underground vault in a lower Manh
U.S House Committee Blames Everyone For MF Global's CollapseNovember 15, 2012Regulators, credit rating agencies and MF Global itself were all to blame for the brokerage's collapse last year, a U.S. congressional committee found.
Goldman Chief Outlines Risky Asset Reduction Under New RulesNovember 14, 2012Goldman Sachs Group Inc would have $728 billion in risk-weighted assets under yet-to-be-implemented Basel III capital rules, 67 percent more than the investment bank has under current regulations, Chief Executive Lloyd Blankfein said on Tuesday.
Glitch Prevents Trade In Over 200 Stocks On The NYSENovember 14, 2012NYSE Euronext suspended trading in over 200 stocks on the New York Stock Exchange on Monday due to a technical problem with a server, although the stocks in question continued trading on other markets.
Microsoft's Windows Unit Head, Once a Possible CEO, ExitsNovember 13, 2012The executive most widely tipped to be the next chief executive of Microsoft Corp has left the world's largest software maker barely two weeks after launching the flagship Windows 8, as CEO Steve Ballmer moved to tighten his grip on the company.
Ivy Asset Mgmt Settles With NY for $210 Mln Over MadoffNovember 13, 2012Ivy Asset Management agreed to pay $210 million to settle lawsuits over advising clients to invest with Ponzi schemer Bernard Madoff, the New York State Attorney General said on Tuesday.
Bloomberg: There's An App For ThatNovember 13, 2012The Bloomberg App Portal allows third-party developers to distribute apps for use along with the Bloomberg Professional Service.
SEC Staffers Used Unsecured PCs for Personal UseNovember 12, 2012Several SEC staffers responsible for monitoring the markets and exchanges broadly misused computer equipment to download music and failed to properly safeguard sensitive information.
Jefferies, Valued at $3.6 Billion, To Be Bought by LeucadiaNovember 12, 2012Investment company Leucadia will buy Jefferies Group in a deal that values the investment bank at $3.6 billion.
Wall Street Gadfly Warren Stands Good Chance of Senate Banking SeatNovember 09, 2012The chances are good that Elizabeth Warren will secure a highly coveted seat on the Senate Banking Committee.
SEC Left Computers Vulnerable to Cyber AttacksNovember 09, 2012SEC staffers failed to encrypt some of their computers containing highly sensitive information from stock exchanges, leaving the data vulnerable to cyber attacks.
Tax Hike for Wealthy Americans Won't Kill Growth, Says CBONovember 09, 2012Allowing income tax rates to rise for wealthy Americans would not hurt U.S. economic growth much in 2013, the Congressional Budget Office said.
Regulators: Capital Rules Won't Take Effect Jan. 1November 09, 2012Banking regulators do not expect proposed rules requiring financial institutions to hold more capital to take effect at the start of next year.
My Personal Cloud-Like Business Continuity PlanNovember 08, 2012Local establishments with free wifi can serve as temporary offices for many during times of crisis.
For Speculators, Obama Was a Sure BetNovember 08, 2012Intrade is more accurate than exit polls, says hedge fund partner.
Most Hedge Funds Lost Ground in OctoberNovember 08, 2012Hedge funds fell 0.5 percent on average in October, the industry's first loss in five months.
PSP Capital Partners Pritzker Sees 'Fiscal Cliff' Deal Taking TimeNovember 08, 2012Penny Pritzker, head of PSP Capital Partners and longtime supporter of President Barack Obama, said an agreement with Republicans over the looming federal debt crisis could take six to nine months.
Wall Street Left To Rebuild Obama Ties After Backing RomneyNovember 07, 2012Wall Street firms gambled on Mitt Romney and lost.
For Global Investors, Fed Relief Trumps Fiscal Angst After U.S PollNovember 07, 2012The world's biggest investors expect a modest fillip for global bonds and stocks from the re-election of President Barack Obama, as anxiety eases over White House policy toward the Federal Reserve and China.
Stockholm Hedge Fund Choose PortwareFXNovember 07, 2012Informed Portfolio Management, a Stockholm-based systematic macro and equity manager, chose Portware's customizable FX solution to allow traders to execute FX against any bank, ECN or interdealer platform.
Ex-UBS, Credit Suisse Banker Pleads Guilty in U.S. Tax ProbeNovember 06, 2012A former banker at giant Swiss financial A former banker at giant Swiss financial institutions UBS AG and Credit Suisse Group AG pleaded guilty on Tuesday to helping wealthy Americans hide millions of dollars from U.S. tax authorities during his time at UB

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