Chinese banks lend aggressively in early July, risking another crackdown
SHANGHAI (Reuters) – New local currency yuan loans extended by China’s big four state-owned banks stood at an unusually large 170 billion yuan ($27.7 billion) in the first week of July, the official Shanghai Securities News said on Thursday, a move tha…
New York fund manager pleads guilty to Ponzi scheme
NEW YORK (Reuters) – A former New York fund manager pleaded guilty on Wednesday to stealing $2.9 million from investors as part of a Ponzi scheme from 2011 to 2012.
‘Fabulous Fab’ email admissible at former Goldman exec’s trial
NEW YORK (Reuters) – The email that gave former Goldman Sachs Group Inc vice president Fabrice Tourre his “fabulous Fab” nickname can be introduced at his upcoming securities fraud trial, a federal judge tentatively ruled on Wednesday.
Calpers postpones launch of online pensions database
SAN FRANCISCO (Reuters) – California’s pension fund for public employees said on Wednesday it would postpone launching a database that would make details of its members’ pension benefits public after three employee groups said they would press lawmaker…
Smithfield CEO feels Senate heat over sale to China
WASHINGTON (Reuters) – U.S. senators sought answers from the head of Smithfield Foods on Wednesday about whether the proposed sale of the Virginia ham maker to China’s largest pork producer could hurt U.S. food safety and raise prices for American cons…
‘Fabulous Fab’ lawyer wants email excluded from trial
NEW YORK (Reuters) – An infamous email in which former Goldman Sachs vice president Fabrice Tourre referred to himself as “the fabulous Fab” should not be introduced at his securities fraud trial, his lawyer said on Tuesday.
U.S., Europe should align finance rules: Singapore finance minister
SINGAPORE (Reuters) – The United States and Europe need to stop acting unilaterally on financial regulation and align their rules more closely or else they risk undermining the global economy, Singapore’s Finance Minister said on Wednesday.
LightSquared to proceed to trial over Ergen trades
NEW YORK (Reuters) – Bankrupt wireless communications firm Lightsquared Inc plans to go to trial with its lenders over whether Dish Network chairman Charles Ergen’s acquisition of big chunks of its loan debt violated an agreement pertaining to how Ligh…
BP registers U.S. unit as swap dealer with regulator
WASHINGTON (Reuters) – Britain’s BP Plc on Wednesday filed to register its U.S. unit as a swap dealer with U.S. authorities, a company spokesman said, becoming the first oil company to face tough oversight of its derivatives business.
Fed split in June on QE timing; Bernanke sees easy policy for now
WASHINGTON (Reuters) – About half of the Federal Reserve’s policymakers felt the U.S. central bank’s bond-buying stimulus should be brought to a halt by year end when they met in June, but many wanted reassurance the U.S. jobs recovery was on solid gro…
