New default for Argentina won’t be as bad as last default
BUENOS AIRES (Reuters) – Argentina’s battle with investors who rejected its proposals to restructure debt risks pushing the nation into a new default that would wreck its attempts to return to credit markets but not have the same economic effect as its…
Exclusive: Top Bank of America financial companies banker leaves for Oaktree – sources
(Reuters) – William Egan, a Bank of America Merrill Lynch top investment banker for financial institutions, has resigned to join credit investment and private equity firm Oaktree Capital Group LLC , according to people familiar with the matter.
Analysis: Argentine debt investors may let law slide to reach deal
NEW YORK (Reuters) – Argentina’s prospects for finally closing out its 12-year-old default on $100 billion of debt will depend on more political and legal maneuvering, a motivated U.S. judge and the fatigue of investors, now that it has lost an epic ba…
Jury selected in trial of Rajaratnam’s brother
NEW YORK (Reuters) – Jurors were selected Tuesday in the trial of Rengan Rajaratnam, a former Galleon Group hedge fund manager accused of conspiring with his older brother, Raj Rajaratnam, to engage in insider trading.
Name change lifts Airbus’ image in Washington: Airbus U.S. chief
ATLANTA (Reuters) – Airbus Group’s recent name change is enhancing how the European weapons and planemaker is perceived, particularly among U.S. government customers, a company executive said on Tuesday.
GM to start compensating ignition switch victims: CEO Barra
WASHINGTON (Reuters) – General Motors Co expects to begin processing victims’ claims related to faulty ignition switches by Aug. 1, Chief Executive Officer Mary Barra will tell the U.S. Congress on Wednesday.
SEC alters waiver policy to remove ‘too big to fail’ concern
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission recently removed language from an agency policy on granting regulatory waivers after an SEC official raised concerns it implied some companies are “too big to fail.”
Wall Street warily watching Iraq, oil prices
NEW YORK (Reuters) – Traders are bracing for more volatility in markets as fighting in Iraq intensifies, with the recent rise in crude oil prices posing risks to the strong rally in U.S. stocks.
Banks lead Wall Street higher; cyclicals rally
NEW YORK (Reuters) – U.S. stocks rose on Tuesday as data pointing to higher inflation lifted financial shares while high-growth tech names attracted renewed attention.
Stock exchange pricing model comes under fire at Senate hearing
WASHINGTON (Reuters) – The pricing model used by U.S. stock exchanges to attract liquidity came under fire on Tuesday, as a top Wall Street executive called for ending the practice and two U.S. senators raised concerns about the potential conflicts it …
