 |
17 Feb 2005 03:35 PM
|
|
|
J.P. Morgan is fined $2.1 million for failing to keep some e-mails:
|
|
|
J.P. Morgan Chase & Co. was fined $2.1 million for failing to store electron mail messages concerning the investigatation of conflict between research-analyst practices and Wall Street’s investment-banking.
The amount of fine is said to be one of the largest ever paid for violating the e-mail retention. In fact J.P. Morgan
|
|
|
17 Feb 2005 02:36 PM
|
|
|
Barclays Settles Dispute With German Lender HSH:
|
|
|
Barclays PLC, accused of deceiving German Lender HSN Nordbank of derivatives trade, has settled a legal dispute with HSM one week prior to official court sitting.
According to the legal claim filed in September, Barclays’ fraud on derivative trade cost HSH $150 million.
Negotiations
|
|
|
17 Feb 2005 08:38 AM
|
|
|
Greenspan’s optimism on economy gives boost to dollar:
|
|
|
Federal Reserve Chairman Alan Greenspan said in his Congressional testimony on Wednesday that the US economy continues to rebound and reiterated that the Fed funds rate is still below neutral even after the recent hikes. The Fed’s stance on the rate gave a short-term boost to the dollar.
"People are very confused which way to push euro/dollar now," said Lee Ferridge, senior proprietary trader at Rabobank
|
|
|
16 Feb 2005 11:07 AM
|
|
|
GREENSPAN: THE INTEREST RATES "REMAINS FAIRLY LOW.":
|
|
|
GREENSPAN: THE INTEREST RATES "REMAINS FAIRLY LOW."
|
|
|
16 Feb 2005 09:02 AM
|
|
|
Mortgage applications fell 0.5% last week:
|
|
|
Mortgage applications fell 0.5% to 732.3 in the week ended Feb. 11, according to the Mortgage Bankers Association. The MBA’s seasonally adjusted index of refinancing applications rose 4.1% to 2,530.1. The MBA’s
|
|
|
15 Feb 2005 07:46 PM
|
|
|
Bank of America Paid Off:
|
|
|
The Securities and Exchange Commission brought an action against two former employees of FleetBoston bank, which has been a part of Bank of America since last year. James Tambown and Robert Hassy face conspiracy with the investors and criminal-fraud charges for making fund shares bargains.
|
|
|
14 Feb 2005 06:31 PM
|
|
|
Citigroup owns big stake in Fannie Mae:
|
|
|
Citigroup Inc. reported Friday it holds about 61 million shares in government-backed Fannie Mae, which is now recovering from an accounting scandal.
Citigroup
|
|
|
12 Feb 2005 11:17 AM
|
|
|
Citigroup Case Consequences:
|
|
|
After Citigroup sold €12 billion in bonds and bought back €4 billion at lower price last August, Germany’s Bundesbank warned of possible systemic risks in smaller European countries. “It was not the case in Germany but in smaller countries, similar behavior could lead to systemic risks,” Mr. Meister said in an interview
|
|
|
12 Feb 2005 08:14 AM
|
|
|
Sumitomo Mitsui, Daiwa Hold Talks to Increase Cooperation:
|
|
|
Sumitomo Mitsui Financial Group Inc. and Daiwa Securities Group Inc. will hold talks to increase cooperation.
Major Japanese media, including the Nihon Keizai Shimbun, reported Thursday that SMFG, Japan’s third-biggest bank, and Daiwa, the country’s second-largest securities house, would negotiate merger which was denied
|
|
|
12 Feb 2005 05:12 AM
|
|
|
Fannie Restates its Earnings for Years 2001 to 2004:
|
|
|
It can take Fannie Mae a year to complete its earnings restatement valued at $9 billion, the Securities Exchange Commission’s chief told policymakers on Wednesday.
Last year Fannie was told to restate its earnings for 2001 to 2004 after the SEC discovered that the group abused
|
|
|
10 Feb 2005 03:58 PM
|
|
|
30-year fixed mortgage fell to 5.57% last week: Freddie Mac:
|
|
|
The average rate on a 30-year fixed mortgage fell to 5.57% in the week ending Thursday, according to Freddie Mac. The average for the 15-year fixed mortgage fell to 5.10% from 5.14% in the previous week.
|
|
|
10 Feb 2005 07:07 AM
|
|
|
BANK OF ENGLAND KEPT ITS MAIN INTEREST RATE UNCHANGED AT 4.75%:
|
|
|
BANK OF ENGLAND KEPT ITS MAIN INTEREST RATE UNCHANGED AT 4.75%, AS WAS EXPECTED
|
|
|
10 Feb 2005 04:23 AM
|
|
|
Societe Generale fourth-quarter income rose 30% to 836 million euros:
|
|
|
Societe Generale reported on Thursday that its fourth-quarter income rose 30% to 836 million euros ($1.071 billion). Analysts were expecting income of 718 million euros. Operating income rocketed 44% to 1.347 billion euros
|
|
|
09 Feb 2005 08:41 PM
|
|
|
Goldman makes largest foreign investment in Japan's financial services:
|
|
|
Goldman Sachs’ investment in Sumitomo Mitsui Financial Group, the biggest foreign investment in a Japanese financial services company, amounting to Y150.3bn can be exchanged for a 7% stake in Japan’s third
|
|
|
09 Feb 2005 07:02 PM
|
|
|
Citigroup bond trades prompt call for more EU regulation:
|
|
|
Citigroup’s questionable bond trades have prompted calls for EU regulation in the market.
Citigroup’s strategy to increase the bank’s profits lies in destabilizing of the eurozone government bond futures market and “annihilating” smaller competitors. Such plan was highlighted in an internal Citigroup memorandum published in the Financial Times last week and led by Jean-Claude Trichet, the European Central
|
|
|
|
|
|
|