Wall Street ends lower, futures fall after Fitch rating move
NEW YORK (Reuters) – U.S. stocks fell in a volatile session on Tuesday as the impasse over the debt ceiling in Washington continued with no sign of progress toward a resolution.
France’s Natixis to cut 700 jobs in next two years: union sources
PARIS (Reuters) – French investment bank Natixis is set to announce a plan to cut 700 jobs by 2015 as part of a drive to reduce costs, according to two union sources and documents obtained by Reuters.
Repo markets prepare for operational risks amid U.S. default fears
NEW YORK (Reuters) – Banks and investors are fine-tuning plans to try to reduce the risk that operational failures will disturb crucial short-term lending markets if the U.S. Treasury is late in making its debt payments, though many are skeptical that …
Malaysia feeds fiscal elephant in the room: its civil service
PUTRAJAYA, Malaysia (Reuters) – From unwinding subsidies for food and fuel to imposing a new sales tax, Malaysia’s Prime Minister Najib Razak has plenty to do to rescue the country from a possible credit rating downgrade when he presents his government…
China milk powder crackdown is tough medicine for doctors, sales representatives
SHANGHAI (Reuters) – A crackdown on corruption in China’s infant milk formula sector has made sales representatives and hospital doctors fearful of talking to each other, putting a brake on marketing and possibly hitting revenue growth for foreign firm…
Regulation leads to exchange regionalisation: NYSE Euronext official
LONDON (Reuters) – Diverging regulation of financial markets will lead to a regionalisation of cash markets and make future consolidation between U.S. and European exchanges unlikely, the Executive Vice President of NYSE Euronext said on Tuesday.
Citigroup results hit by bond trading slowdown
(Reuters) – Citigroup Inc posted weaker-than-expected third-quarter earnings on Tuesday as bond market trading volume dropped, hurting revenue at the No. 3 U.S. bank and across Wall Street.
Analysis: Growing complexity at Cushing boosts chance of oil market jolts
NEW YORK (Reuters) – When a train laden with crude oil rolled into the sleepy town of Stroud, Oklahoma, one night this August, global oil markets reacted immediately.
Exclusive: Fed’s Fisher, vocal hawk, sees no QE cuts this month
NEW YORK (Reuters) – “Reckless” U.S. fiscal policy will likely force the Federal Reserve to stand pat on monetary policy this month, one of the Fed’s biggest critics of the U.S. central bank’s bond-buying program said on Tuesday.
Insight: Three years on, Fed keeps BoA-Merrill waiting on commodity trade
NEW YORK (Reuters) – In May 2010, one of Wall Street’s biggest banks went to the Federal Reserve with a seemingly straightforward request: permission to expand its physical commodity operations through specialized power contracts.
