Happy Holidays: Get Your Drink On -- Wall Street Style!
Now that company holiday parties are coming back in style, here's one of the more creative drink menus. Each year Cognito, the PR and marketing agency that specializes in financial services and technology, holds a holiday party with a specialized set of financial services drinks. This year's menu reminds us of some of the year's most notable events, including Knight Capital's trading glitch, Rajat Gupta's insider trading trial and the Libor rate-fixing scandal. Bottoms Up!
Goldman Sachs Boosts Rating on RIM, Shares Surge
Research In Motion
received a big boost on Thursday after Goldman Sachs
raised its rating on the company, sending shares of the
BlackBerry maker soaring more than 12 percent in trading before
the morning bell.
Short Sellers Target Hard Hit Europe Tech Stocks
Hedge funds are increasingly
betting against European tech shares, targeting companies hit
hard by a sluggish global economic outlook and those struggling
with stiff competition in the mobile business.
Getco, Virtu Make Rival Bids for Knight Capital-Sources
Trading firm Getco Holding Co said it
offered to take control of Knight Capital Group Inc in a
deal that values the electronic trading firm at $3.50 a share,
sending Knight shares up 15 percent in early trading Wednesday.
BATS Rolls Out Free 'Kill Switch'
BATS Global Markets will begin offering free risk management tools, including "kill switches" and order restrictions, to all of its members.
Intrade Cuts Out US Customers After Regulatory Suit
Prediction market Intrade,
which allows spectators to bet on subjects ranging from
entertainment to elections, said on Monday it will no longer
accept U.S. customers because of what it called legal and
Knight CEO Plays Down Deal Talk
Knight Capital Group,
currently in talks with at least two firms on the possible sale
of its largest business unit, is well capitalized and would only
pursue a deal if it created value for its shareholders and
clients, Knight's chief executive said in an internal memo.
Surveillance and Monitoring Through the Looking Glass
Looking ahead to 2013, European regulations are stepping up the need for automated surveillance and monitoring solutions on the buy side, writes SunGard Protegent's, Magnus Almqvist, who says firms must have audit trails and quick answers to questions on suitability and personal dealing.
Obama Presses Case on 'Fiscal Cliff' with Dimon, Buffett
President Barack Obama's intensive lobbying to avert big year-end tax hikes and spending cuts resumed over the weekend as he spoke with senior corporate chieftains, including JPMorgan Chase's Jamie Dimon and legendary
investor Warren Buffett.
DTCC Finds 1.3 Mln Soaked Securities in Sandy-Flooded NY Vault
The 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 Manhattan
skyscraper flooded by Superstorm Sandy.
Technology Fragility Threatens Markets
Despite disaster recovery and business continuity plans that were implemented after Sept. 11 and then enhanced following the Northeast blackout in 2003, Hurricane Sandy has upped the DR/BC bar once again.
Goldman Chief Outlines Risky Asset Reduction Under New Rules
Goldman 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.