Watchdog hits out at Goldman probe response June 7, 2010 GOLDMAN Sachs has been slammed by the US Financial Crisis Inquiry Commission (FCIC) after it responded to a subpoena for information by “dumping a load of rubbish” outside the organisation’s office. Goldman supplied 2.5bn pages of information while failing to answer some key questions, according to commission chairman Phil Angelides. The FCIC had asked Goldman [...]
Capital Drilling makes a triumphant start to trading on the LSE official list June 7, 2010 EMERGING markets-focused mining group Capital Drilling yesterday saw its market value jump by over £6m on its first day of trading on the main list of the London Stock Exchange, as investors snapped up the stock. The firm listed at 61.5p a share but rose over the course of the day to close at 66p, [...]
CITY MOVES | WHO’S SWITCHING JOBS June 6, 2010 London Stock Exchange The exchange has hired Gay Huey Evans and Paul Heiden as non-executive directors and made Raffaele Jerusalmi an executive director. Huey Evans, pictured, is vice chair of investment banking and investment management at Barclays. Heiden is executive chairman of Talaris Topco and a non-executive at United Utilities, while Jerusalmi is director of capital [...]
US energy shares push Wall St up June 2, 2010 US stocks rallied yesterday as investors rushed back into beaten-down shares, led by energy, which bore the brunt of the sell-off a day earlier. The energy sector handily led the way up with the S&P energy index gaining 4.3 per cent. US-listed shares of BP climbed 3.1 per cent to $37.66 even as the company [...]
Starbucks brings latte to NYSE June 1, 2010 Starbucks, the upmarket coffee chain, is opening an outlet on the floor of the New York Stock Exchange as the platform tries to transform itself into a modern working environment. As part of a $7.5m (£5.1m) overhaul of the iconic dealing space, Starbucks will begin serving lattes and frappuccinos to the NYSE’s 500 equity traders.
Markets boosted as China reassures on Eurozone assets May 27, 2010 THE euro staged a broad rally andUS stocks jumped about three per ceyesterday after China said Europe remains a key investment market for its foreign-exchange reserves. The People’s Bank of China said a Financial Times report that Beijing was concerned about its Eurozone bond holdings due to the European debt crisis was groundless. The report [...]
Wall Street flies on China’s Eurozone review refusal May 27, 2010 US stocks rallied yesterday as investor worry was eased after China refuted a report that it was reviewing its Eurozone bond holdings due to the region’s debt crisis. Yesterday’s gains marked the largest advance for the S&P 500 on a percentage basis since 10 May, although volume was below average. China’s denial was enough of [...]
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 [...]