FBI joins computer trading probe
The FBI has joined securities regulators to tackle the potential threat of market manipulation posed by sophisticated computer trading strategies that have taken markets beyond the scope of traditional policing. FBI agents have joined forces with a new unit within the Securities and Exchange Commission that examines hedge funds and other firms that use algorithm trading strategies. Some of these strategies have been criticised of destabilising the market and putting retail investors at a disadvantage.
Road sale plan hit by hold-up
Plans to bring billions of private money to Britain’s road network are in disarray in the latest blow to the government’s infrastructure programme. After the Conservatives’ defeat in the Eastleigh by-election, ministers have delayed the plans amid fears they would anger motorists.
Microsoft faces EU fine
Microsoft is set to be hit with a fine running into hundreds of millions of dollars by Brussels over its failure to keep to a high-profile competition agreement with European regulators.
Tchenguiz claim sparks SFO fight
The Serious Fraud Office has attacked demands from property tycoon Vincent Tchenguiz for £200m in damages for his wrongful arrest, calling them “speculative”.
Water bosses’ danger of losing trust
Water companies were warned last night to clean up their corporate governance and become more transparent or continue to be accused of tax avoidance and of being run solely for shareholders.
The Daily Telegraph
O’Neill: UK exports future with Brics
UK manufacturers mustn’t be “blindsided” by the importance of trading with Europe because the future is with emerging markets, says Jim O’Neill, chairman of Goldman Sachs Asset Management.
Cypriot crisis deepens
Capital flight from Cyprus has accelerated since Eurozone politicians began threatening losses for bank depositors, and may have reached 12 per cent of the country's GDP over the last month.
THE WALL STREET JOURNAL
Senate approves new CIA head
The Senate Intelligence Committee said it approved Barack Obama’s nomination of John Brennan to head the Central Intelligence Agency. Brennan is Obama’s top counterterrorism adviser.
India says Cadbury evaded taxes
India has accused Cadbury of dodging about $46m in taxes by pretending to produce chocolate at a factory that didn’t exist. Cadbury likely generated at least $700m in sales from India last year.