Bloomberg.com – British Banks Under Pressure to Estimate Costs of Libor-Rigging Britain’s biggest banks are under pressure to tell investors how much they expect the Libor rigging-scandal will cost shareholders when they start to report first-half earnings this week.Barclays Plc (BARC) was fined a record 290 million pounds ($450 million) last month for manipulating the… Continue reading The Costs Of LIBOR-Rigging
Reuters.com – Analysis: Big banks’ glory days feared to be gone for good The summer of 2012 may be remembered as the time when regulation, scandals and a protracted slow-growth economy finally caught up with big American banks. Ever since the financial crisis, U.S. banks and their investors have held out hopes of a return… Continue reading Are Big Banks A Thing Of The Past?
Bloomberg Businessweek – Hang the Short Sellers? People should not be able to profit from falling share prices. The premise sounds reasonable enough. After all, pensions, 401(k)s, consumer confidence, tax receipts, and this reporter’s livelihood all to some degree depend on a healthy stock market. What kind of brute would cash a check drawn on… Continue reading Short Sellers
Reuters – Fed’s Raskin: No government backstop for banks that do prop trading Banks that trade for their own accounts should not benefit from the implicit backing of taxpayers, and Wall Street’s opposition to new rules curbing such activities is unfounded, a top Federal Reserve official said on Monday. Federal Reserve Governor Sarah Raskin, a… Continue reading Too Big To Fail
The Wall Street Journal – Rare Miss for Apple as iPhone Sales Cool Apple delivered a rare earnings disappointment Tuesday with lower-than-expected sales of its iPhone, sending its stock down 5% in after-hours trading. It was only the second time in 39 quarters the company reported results that missed analysts’ profit and revenue expectations—the previous… Continue reading Apple Misses Earnings Estimates
The Wall Street Journal – Germans React Coolly to Moody’s Warning A warning that the euro crisis could cost Germany its prized triple-A credit rating is stepping up pressure on Chancellor Angela Merkel to take bolder action, but also stiffening domestic opposition to further bailouts, including within her ruling coalition. Moody’s Investors Service changed its… Continue reading Germany’s Credit Outlook
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<Click on chart for larger image> CNN Money – 10-year yield slides to record low Escalating fears about Spain’s debt problems sent investors rushing to safe haven investments Monday, including governments bonds in the United States, Germany and the United Kingdom. As investors scooped up U.S. Treasuries, yields on the 10- and 5-year notes, along… Continue reading Record Low Yields
<Click on chart for larger image> The Economist – Capital gains NEVER mind the divide between Main Street and Wall Street. The big gap at the moment is between workers and corporations. Although unemployment remains stubbornly high and wage rises are hard to come by, corporate profits are taking a larger share of American GDP… Continue reading Profits As A Percent Of GDP On The Rise
Bloomberg.com – John Paulson Said to See 50% Chance That Euro Will Fail Billionaire hedge-fund manager John Paulson told clients he sees a 50 percent chance the euro will unravel, said an investor who listened to the comments. An event causing a breakup may happen in three months to two years, Paulson said on a… Continue reading What Are The Odds Of A Euro Breakup?
MarketBeat (WSJ Blog) – Don’t Fight the Fed The lesson du jour: Don’t fight the Fed. Look no further than Monday’s action for proof. Stocks plunged at the open, with the Dow shedding as many as 239 points, as the euro-zone’s debt crisis return to center stage. When the dust settled, the blue-chip index trimmed… Continue reading Don’t Fight The Federal Reserve
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