Wall Street ends up a day after Nasdaq outage, Microsoft jumps
NEW YORK (Reuters) – Stocks rose in light trading on Friday, led by a jump in Microsoft shares, as trading took place without interruption a day after the Nasdaq stock exchange suffered an unprecedented, three-hour trading halt.
Connectivity issue between Nasdaq and Arca preceded outage: source
NEW YORK (Reuters) – The vague “connectivity issue” that Nasdaq said triggered the outage that paralyzed a large part of the U.S. stock market on Thursday originated as a problem between Nasdaq and rival NYSE Arca, a source familiar with the matter sai…
Fed policy under fire at Jackson Hole conference
Federal Reserve Chairman Ben Bernanke used the 2012 meeting in Jackson Hole as a platform to make his case for a third round of bond buys. This year, with the Fed chief absent, the tone was starkly different as featured research papers questioned the v…
Lawsuit challenging Moody’s ratings independence is dismissed
NEW YORK (Reuters) – Moody’s Corp and its Chief Executive Raymond McDaniel won the dismissal of a lawsuit accusing the parent of Moody’s Investors Service of defrauding shareholders by making false statements about the independence and objectivity of i…
CFTC finalizes plan to boost oversight of fast traders: official
CHICAGO (Reuters) – The U.S. Commodity Futures Trading Commission is preparing to reveal a laundry list of potential options to increase oversight of high-speed and automated trading, an agency official said on Friday.
JPMorgan curbs business with banks to tighten controls
(Reuters) – JPMorgan Chase & Co, the biggest bank in the United States, will not take on more correspondent relationships with foreign banks in a move to comply with orders from regulators to tighten risk controls, including safeguards against money laundering.
Steve Ballmer ends run as Microsoft’s relentless salesman
SEATTLE (Reuters) – Few CEOs wielded more power than Microsoft chief Steve Ballmer.
Exclusive: EBS take new step to rein in high-frequency traders
NEW YORK (Reuters) – One of the largest currency dealing platforms, ICAP’s EBS, this week took a step to curb high-frequency trading on its network, the latest in a series of measures in the $5 trillion-a-day foreign exchange market to limit the percei…
Wall Street ends up a day after Nasdaq outage, Microsoft jumps
NEW YORK (Reuters) – Stocks rose in light trading on Friday, led by a jump in Microsoft shares, as trading took place without interruption a day after the Nasdaq stock exchange suffered an unprecedented, three-hour trading halt.
Microsoft CEO Ballmer to retire within 12 months
SEATTLE/NEW YORK (Reuters) – Microsoft Corp Chief Executive Steve Ballmer unexpectedly announced his retirement on Friday, ending a controversial 13-year reign as the head of the world’s largest software company and sending the company’s shares up 7 pe…
