Wall Street gets ready to trade defaulted U.S. debt
WASHINGTON (Reuters) – While most on Wall Street continue to believe it very unlikely the United States will default on its debt later this month, banks and securities firms are already gearing up for how to handle any U.S. Treasuries tainted by missed…
Gamblers not waiting for Twitter IPO to bet on valuation
NEW YORK (Reuters) – Though Twitter’s first day on the stock market is probably still months away, a handful of international gamblers aren’t waiting for the official debut and are already laying bets on how much the social media site will be worth.
Sotheby’s adopts ‘poison pill’ after Loeb raises stake
NEW YORK (Reuters) – Auction house Sotheby’s said Friday it adopted a “poison pill” two days after activist investor Daniel Loeb’s Third Point hedge fund called for a management shake-up and increased its stake in the company.
Detroit bankruptcy could change municipal market, Chicago Fed says
CHICAGO (Reuters) – Detroit’s historic bankruptcy filing could upend long-established market views on the high standing of general obligation bonds, the form of debt sold most frequently in the U.S. municipal bond market, Chicago Federal Reserve Bank r…
Analysis: Washington gridlock may disrupt vital money markets
NEW YORK (Reuters) – The fight over raising the U.S. debt ceiling is starting to rattle the money markets and could eventually disrupt the flow of cash needed for banks to lend and companies to invest.
Debt ceiling worries spill into U.S. options market
(Reuters) – With the U.S. government in Washington partially shut down, some options investors are starting to pay more for protection against market turmoil on worries that the current budget stalemate could lead to something more catastrophic – a def…
Lockheed to furlough 3,000 workers due to U.S. shutdown
(Reuters) – Lockheed Martin Corp said about 3,000 employees would be furloughed on Monday due to the U.S. shutdown.
Email, undisclosed in SAC trader’s case, could help defense: sources
NEW YORK (Reuters) – In the coming trial of a SAC Capital Advisors hedge fund portfolio manager, Michael Steinberg, prosecutors are likely to present emails purporting to show he was being tipped about inside information on Dell Inc before trading on t…
Shale gas driller asks France for 1 billion euro compensation: report
PARIS (Reuters) – U.S.-based energy firm Schuepbach Energy is asking the French government for 1 billion euros ($1.36 billion) in compensation for blocking its shale gas exploration permits in France, an industry newsletter said on Friday, citing unnam…
Twitter reveals rip-roaring growth, big losses ahead of IPO
SAN FRANCISCO (Reuters) – Twitter Inc, racing toward the largest Silicon Valley IPO since Facebook Inc’s 2012 coming-out party, hopes to woo investors with rip-roaring revenue growth despite having posted big losses over the past three years.
