|
|
Europe
|
|
Oil Price Probe Widens, U.S. Senator Wants Justice Dept. Help
By Reuters
05/17/2013 5:15:29 PM ET
EDITOR'S NOTE: This story has been updated throughout.
LONDON/WASHINGTON (Reuters)—A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands and a key U.
Nanes Balkany: Petrogrand Should Exit Russia
By Reuters
05/17/2013 4:54:45 PM ET
NEW YORK (Reuters)—An activist hedge fund has urged Swedish oil and gas company Petrogrand AB to drop exploration activities in Russia, explore strategic alternatives and replace its chief executive, according to a letter from the fund to the company's board of directors.
Nanes Balkany Partners LLC, which in the last three months amassed a stake of just under 5 percent in Petrogrand, has not received an official response after sending the letter to the company last month, according to a person familiar with the matter.
Transocean Chairman Booted For Icahn Nominee
By Reuters
05/17/2013 4:33:12 PM ET
ZUG, Switzerland (Reuters)—Transocean Ltd. shareholders voted out Chairman Michael Talbert at the annual meeting on Friday [May 17] and backed a nominee of activist investor Carl Icahn to replace him on the board of the world's largest offshore drilling contractor.
Blackstone Planning to Create New Hedge Fund
By Reuters
05/17/2013 11:02:17 AM ET
NEW YORK (Reuters)—Blackstone Group LP is planning to create a hedge fund which will consist of the boldest trades from the third-party hedge funds it invests with, the Financial Times reported.
The new fund will invite managers to sell their interesting trading ideas in exchange for a fee and it will be run by former Duquesne Capital partner, Greg Geiling, the daily said.
IMF: Central Banks' Actions Worked, Now Beware Reactions
By Reuters
05/16/2013 12:17:28 PM ET
WASHINGTON (Reuters)—Central banks got it right when they saved the world economy, but their unprecedented actions risk disruptive cross-border spillovers and potentially heavy losses when the time comes to exit, the IMF said on Thursday [May 16].
In the most detailed survey so far of the dramatic measures undertaken to counter the 2007-09 global financial crisis, International Monetary Fund staff repeated earlier assessments that the steps had worked, but face diminishing returns.
Hungarian Ethanol Firm Says it Tipped E.U. to Platts Pricing
By Reuters
05/16/2013 11:46:23 AM ET
LONDON (Reuters)—A Hungarian ethanol producer said it alerted the European Commission over the role of price agency Platts in setting prices, feeding into an investigation of three major oil companies.
Pannonia Ethanol, a recent entrant to Europe's market, on Wednesday [May 15] became the first company to identify itself as having complained to Brussels, which has now embarked on the biggest cross-border trading probe since the LIBOR scandal sent shock waves through the secretive financial industry.
More Top Hedge Funds Dropped Apple Shares in 1Q
By Reuters
05/15/2013 4:59:25 PM ET
EDITOR'S NOTE: This story has been updated throughout.
NEW YORK (Reuters)—One-time hedge fund darling Apple Inc. was dropped by more well-known fund managers in the first quarter, including John Griffin and Chase Coleman.
Oil Pricing Probe Widens, Britain Pledges Tough Action
By Reuters
05/15/2013 2:33:22 PM ET
LONDON (Reuters)—Oil companies will face the full force of the law if they manipulated prices, Britain's energy minister said on Wednesday [May 15] as a rating agency warned of massive fines if a European Commission's probe into oil pricing found any wrongdoing.
Oil firm Eni said the European Commission had asked it to provide information, although it was not being probed.
E.U. Oil Price Probe Puts Platts in Spotlight
By Reuters
05/15/2013 12:26:18 PM ET
LONDON (Reuters)—A European investigation into alleged price rigging by major oil companies has drawn attention to leading price agency Platts and the way it sets oil price benchmarks.
Authorities on Tuesday [May 14] carried out a surprise inspection at Platts' London bureau as well as the offices of Royal Dutch Shell, BP and Statoil.
Commerzbank Shares Bounce Back After Stake Sale
By Reuters
05/15/2013 12:12:14 PM ET
FRANKFURT, Germany (Reuters)—Commerzbank shares leapt as much as 17.6 percent on Wednesday [May 15] as investors bought back stock sold in anticipation of a share placing by Germany's bank bailout fund, which was completed earlier in the day.
Ex-BlackRock Fund Manager Arrested in U.K. Insider Trading Probe
By Reuters
05/15/2013 11:41:45 AM ET
LONDON (Reuters)—Asset manager BlackRock said on Tuesday [May 14] that one of its former employees was arrested in April by City of London police on suspicion of insider dealing.
BlackRock did not name the individual but a source with knowledge of the matter said it was Mark Lyttleton, one of the firm's longest serving British-based fund managers who left the company in March.
Fraud Claims vs. Goldman over Abacus CDO are Dismissed
By Reuters
05/14/2013 3:34:53 PM ET
NEW YORK (Reuters)—Goldman Sachs Group Inc. won dismissal on Tuesday [May 14] of fraud claims brought by a bond insurer over a CDO tied to subprime mortgage securities called Abacus.
Report for Banks Finds They Pose More Risk than Commodity Traders
By Reuters
05/14/2013 2:33:49 PM ET
GENEVA (Reuters)—A study commissioned by a global banking lobby group has found that banks pose a greater systemic risk than their commodity trading house competitors do and the report has not been made public, its author said.
Craig Pirrong, a University of Houston academic confirmed he was the author of the study commissioned by the Global Financial Markets Association (GFMA).
Top Bloomberg Editor: Client Data Policy is 'Inexcusable'
By Reuters
05/13/2013 2:57:08 PM ET
EDITOR'S NOTE: This story has been updated throughout.
NEW YORK (Reuters)—Matthew Winkler, editor-in-chief of Bloomberg News, apologized on Monday [May 13] for allowing journalists "limited" access to sensitive data about how clients used Bloomberg terminals, saying it was "inexcusable", but that important customer data had always been protected.
Commerzbank to Start Share Sale Mid-Week
By Reuters
05/13/2013 12:53:20 PM ET
FRANKFURT, Germany (Reuters)—Commerzbank AG will start its €2.5 billion ($3.2 billion) share sale this week, offering a hefty discount in a move designed to help repay state aid, two people familiar with the transaction told Reuters.
Elan-Theravance Deal a Big Boost For Baupost, Fidelity
By Reuters
05/13/2013 12:20:53 PM ET
BOSTON (Reuters)—Hedge fund Baupost Group LLC and Fidelity Investments got a lift on Monday [May 13] from their investment in Theravance Inc. after the U.
LIBOR Likely to be Replaced By a Dual-Track System
By Reuters
05/13/2013 10:54:50 AM ET
LONDON (Reuters)—A dual-track system, including survey-based lending rates along with transaction-linked indices, is likely to replace scandal-hit London interbank lending rate LIBOR as soon as next year, the Financial Times reported on its website on Sunday [May 12].
The new system would provide continuity for holders of $350 trillion in existing contracts that reference LIBOR while also paving the way for a new benchmark tied more closely to objective data, Martin Wheatley, chief executive of Britain's Financial Conduct Authority who is leading efforts to reform the benchmark, told the FT.
Anti-G8 Protesters Issue Map of London Capitalist Targets
By Reuters
05/10/2013 12:35:40 PM ET
LONDON (Reuters)—Anti-capitalist demonstrators planning London protests ahead of a G8 summit hosted by Britain in June published a map on Friday [May 10] detailing the location of international banks, hedge funds and other targets where people can "show their anger."
Britain will host the summit of Group of Eight leaders on June 17 and 18 at a golf resort in Northern Ireland, but some protesters have earmarked the British capital for action in the days leading up to the meeting.
Loeb Details Bullish Bet on Japan
By Reuters
05/10/2013 11:29:25 AM ET
LAS VEGAS (Reuters)—Billionaire investor Daniel Loeb will go anywhere for a good trade and he is particularly focused on Japan right now, he told a hedge fund industry conference on Thursday [May 9], according to people who heard him speak.
Mr.
Goldman Halves Investment Fund Pledges Since Dodd-Frank
By Reuters
05/09/2013 2:37:31 PM ET
NEW YORK (Reuters)—Goldman Sachs Group Inc. has slashed its capital pledges to investment funds by nearly half since the "Volcker rule" was signed into law in 2010, as it prepares its principal investment business for restrictions on investing its own money, according to regulatory filings.
|
|
|
