SAC to offer retention bonuses to some staff for next year
BOSTON (Reuters) – SAC Capital Advisors announced a second round of retention bonuses to some employees on Wednesday as the hedge fund attempts to keep staff as the firm faces charges of securities fraud.
JPMorgan must face lawsuits over failed credit unions: judge
(Reuters) – A U.S. regulator may proceed with parts of three lawsuits against JPMorgan Chase & Co to recover losses that now-defunct credit unions suffered on billions of dollars of residential mortgage-backed securities, a federal judge in Kansas has ruled.
Investors pull $7.7 billion from Pimco Total Return fund in August
NEW YORK (Reuters) – Bill Gross’s Pimco Total Return Fund, the world’s largest bond fund, lost $41 billion of its assets in the past four months through withdrawals and price losses, according to data from Morningstar Inc on Wednesday.
Nasdaq system at center of massive outage has hiccup
NEW YORK (Reuters) – Nasdaq OMX Group said the system at the center of the Nasdaq exchange’s three-hour trading halt on August 22 had a six minute outage on Wednesday for a small number of stock symbols, but the issue had been resolved and trading was …
Summer deals lift banks’ hopes of M&A tipping point
LONDON (Reuters) – Verizon’s deal to buy Vodafone out of their U.S. wireless venture for $130 billion may have been years in the making, but bankers hope it could be an inflexion point that marks the revival of big dealmaking.
U.S. trade deficit widens, little impact seen on third-quarter growth
WASHINGTON (Reuters) – The U.S. trade deficit widened a bit more than expected in July as exports dipped, but a bounce back in imports hinted at some strengthening in domestic demand early in the third quarter.
Exclusive: JPMorgan subject of obstruction probe in energy case
NEW YORK (Reuters) – U.S. authorities are conducting a criminal investigation into whether several employees of JPMorgan Chase & Co tried to impede a regulatory investigation into alleged manipulation of power markets, according to multiple sources familiar with the matter.
ECB, Bundesbank clash over who to pull plug on banks
FRANKFURT (Reuters) – The European Central Bank clashed with the European Commission and the Bundesbank on Wednesday over who should have the power to decide a bank is no longer viable under Europe’s planned banking union.
Expert networks: thriving in Asia, away from U.S. scrutiny
SINGAPORE/HONG KONG (Reuters) – Expert networks – a matchmaking service that connects investors with industry experts – are under scrutiny from regulators in the United States, but are expanding across Asia where the market for corporate intelligence i…
ConocoPhillips says wins arbitration ruling after Venezuela assets seized
HOUSTON (Reuters) – ConocoPhillips said on Wednesday an arbitration panel of the World Bank ruled that Venezuela unlawfully expropriated the firm’s oil investments in the South American country in 2007, causing a charge of about $4.5 billion.
