Inquiry into leaks in Rajaratnam case May 25, 2010 FEDERAL investigators are examining possible improper leaks about the federal insider trading case against Raj Rajaratnam, the Galleon Group founder’s legal team said yesterday. The US Department of Justice’s Office of Professional Responsibility has opened an inquiry into allegations of misconduct by individuals in the US Attorney’s office and the FBI, a 11 May letter [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 23, 2010 FINANCIAL TIMES PRINCE ANDREW’S TRADE ROLE DEFENDED Buckingham Palace defended Prince Andrew’s globetrotting role promoting British business on Sunday after a newspaper sting appeared to show his former wife selling access to him for £500,000, offered by a reporter posing as a tycoon. Both the royal household and the government said the Duke of York’s [...]
Fears over Eurozone debt rock US May 19, 2010 US stocks fell yesterday as Germany’s unilateral action to ban specific trades on some stocks and bonds sparked a fresh wave of uncertainty and risk aversion among anxious investors. Markets already fear the Eurozone’s credit woes could cut into economic growth. But not all the news was bad, as the broad S&P 500 bounced off [...]
US trials curbs to stop Dow plunge repeat May 18, 2010 NEW rules to curb stock trading when markets plunge uncontrollably will go into effect in June for the largest stocks. The plan has been hastily crafted by the Securities and Exchange Commission and the major US exchanges in response to the unexplained “flash crash” on 6 May that drove the Dow Jones industrial average down [...]
SAP snaps up rival Sybase in $5.8bn deal May 13, 2010 GERMANY’S SAP yesterday said it plans to buy smaller business software maker Sybase for $5.8bn (£3.9bn), gaining technology that allows it to deliver accounting software and other programs to smartphones. The acquisition would be the second largest in SAP’s nearly 40-year history, and comes after the departure in February of chief executive Leo Apotheker, who [...]
Wall St up as credit fears ease May 10, 2010 US stocks racked up their best one-day gain in over a year yesterday as an agreement on a $1 trillion (£645bn) emergency rescue package from the EU quelled fears a new credit crisis would derail European economies. The bailout fund approved by European leaders yesterday drove the S&P 500 to its highest opening jump on [...]
Wall Street plunges as trading glitch suspected May 6, 2010 US stocks plunged nine per cent in the last two hours of trading yesterday before clawing back some of the losses as the escalating debt crisis in Europe stoked fears a new credit crunch was in the making. The Dow suffered its biggest ever intraday point drop, which may have been caused by an erroneous [...]
Fallout from Greek crisis continues to hit Wall St May 5, 2010 US STOCKS sagged yesterday as more signs emerged that the fallout from the Greek debt crisis could spread to bigger European economies. The euro hit a 14-month low as investors shunned the debt of weaker Eurozone countries and jumped into safe-havens. US Treasury prices and the dollar surged on fears Greece’s debt problems could hinder [...]
Fed’s cheer on economy boosts Dow April 28, 2010 US stocks rose yesterday after the Federal Reserve pointed to signs of strength in the economy, comments that gave some relief to investors worried about possible debt defaults in Europe. The Fed’s comments on the economy and its statement that it would keep interest rates low for an extended period lifted bank shares. BKW Bank [...]
Chloride rejects £723m bid April 26, 2010 Chloride Group yesterday rejected a new £723m cash offer from suitor Emerson Electric. It was urged by a string of major shareholders to hold out for a significantly higher bid from the US industrials group. Emerson gave the power protection firm only two days to respond to its 275p-a-share cash proposal over the weekend before [...]