U.S. indicts ex-traders in JPMorgan ‘London Whale’ scandal
NEW YORK (Reuters) – A U.S. grand jury has indicted two former JPMorgan Chase & Co traders at the center of the bank’s “London Whale” scandal, court papers made public on Monday show.
Northrop sees foreign sales opportunities for Global Hawk
NATIONAL HARBOR, Maryland (Reuters) – Northrop Grumman Corp on Monday said it expects expanded sales of its high-altitude unmanned Global Hawk aircraft, which passed 100,000 flight hours this month, with foreign countries including Canada, South Korea …
U.S. banks say they are safer by their own measures
NEW YORK (Reuters) – The biggest U.S. banks, including JPMorgan Chase & Co and Bank of America Corp , said that by their own reckoning they are better equipped to withstand a shock to global markets and economies now than they were in March.
Judge OKs SEC’s Falcone settlement with admission of wrongdoing
NEW YORK (Reuters) – A federal judge on Monday approved the U.S. Securities and Exchange Commission’s $18 million settlement with hedge fund manager Philip Falcone, the regulator’s first big case to include an admission of wrongdoing since a recent pol…
Farm bill might violate trade rules: U.S. business groups
WASHINGTON (Reuters) – The new U.S. farm bill might violate World Trade Organization rules against trade-distorting subsidies, major U.S. business groups said on Monday in an appeal to lawmakers to revamp the bill, which is already facing slim odds of …
UK kicks off Lloyds bank share sale
LONDON (Reuters) – Britain will sell a 6 percent stake in part-nationalized Lloyds Banking Group at a price of at least 75 pence per share, raising over 3.2 billion pounds ($5.1 billion), three sources familiar with the transaction said.
Traders bet on later Fed rate hike with Summers out of picture
(Reuters) – Traders are betting the Federal Reserve will keep policy easier for longer now that former Treasury Secretary Lawrence Summers is out of the running to succeed Ben Bernanke as chairman of the U.S. central bank.
JPMorgan adequately capitalized in mid-cycle stress test
(Reuters) – JPMorgan Chase & Co’s capital ratios would be above the minimum regulatory requirements in case of a hypothetical “severely adverse scenario,” according to mid-cycle stress test results released on Monday.
JPMorgan expects to settle Whale probes for about $700 million: source
(Reuters) – JPMorgan Chase & Co is close to settling investigations into its London Whale derivatives loss and expects to pay about $700 million, according to a source familiar with the matter.
U.S. options trading again halted due to systems glitch
NEW YORK (Reuters) – Options trading was halted sporadically across all U.S. markets on Monday due to an unexplained issue with the system that distributes price quotes, the latest technology failure to spotlight disruptions in U.S. securities trading….
