Showing Archived Posts

JPMorgan Loss Hits $5.8 Billion

Posted July 13th, 2012 at 10:40 am (UTC-5)
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The largest U.S. bank, JPMorgan Chase, says it lost $5.8 billion in bad trades this year, nearly triple its original estimate. The Wall Street investment bank said two months ago it estimated that losses originating in its London trading office would total about $2 billion. But in a new earnings statement Friday, the bank said […]

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JPMorgan Loss Is Nearly $5 Billion

Posted July 13th, 2012 at 9:05 am (UTC-5)
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The largest U.S. bank, JPMorgan Chase, says it lost nearly $5 billion in bad trades this year, more than double its original estimate. The Wall Street investment bank said two months ago it estimated that losses originating in its London trading office would total about $2 billion. But in a new earnings statement Friday, the […]

Tags: , , Posted in Economy

Obama Calls for ‘Crackdown’ on Oil Market Trading

Posted April 17th, 2012 at 1:25 pm (UTC-5)
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With American motorists facing high gas prices, U.S. President Barack Obama is calling for a government “crackdown” on manipulation of oil markets. Mr. Obama asked Congress Tuesday to approve a $52-million plan to expand the government’s regulation of oil trading and stiffen penalties against market manipulation. “We can’t afford a situation where speculators artificially manipulate […]

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Obama Calling for ‘Crackdown’ on Oil Market Trading

Posted April 17th, 2012 at 10:25 am (UTC-5)
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With American motorists facing high gas prices, U.S. President Barack Obama is set to call for a government “crackdown” on manipulation of oil markets. Mr. Obama is planning to ask Congress Tuesday to approve a $52 million request to regulate oil trading. The White House said it is “critically important” to make sure that “illegal […]

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US House Lawmakers Approve Insider Trading Bill

Posted February 9th, 2012 at 2:45 pm (UTC-5)
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The U.S. House of Representatives has overwhelmingly approved a bill banning lawmakers and other government officials from insider trading. The Stop Trading on Congressional Knowledge Act, or STOCK Act, passed Thursday on a vote of 417-to-2. The House bill needs to be reconciled with the Senate’s version of the legislation, which includes new regulation on […]

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US Senate Passes Insider Trading Ban

Posted February 2nd, 2012 at 6:55 pm (UTC-5)
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The U.S. Senate has passed a bill to stop members of Congress, top aides and senior administration officials from buying or selling stocks based on information not available to the public — a practice known as “insider trading.” The Senate passed the bill Thursday by a vote of 96 to 3. It now goes to […]

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Wall Street Executive Faces Insider Trading Charges

Posted October 26th, 2011 at 12:00 pm (UTC-5)
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A prominent Wall Street executive has surrendered to U.S. authorities to face charges that he illegally leaked confidential corporate information in an insider stock trading case. Rajat Gupta, a native of India, was once the head of the well-known McKinsey global consulting firm and later a director at the worldwide Goldman Sachs investment bank. But […]

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US Imposes New Curbs on Commodity Trading

Posted October 18th, 2011 at 2:50 pm (UTC-5)
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U.S. regulators have imposed new rules on commodity trading, seeking to curb excessive speculation that some analysts say contributed to the world financial turmoil in 2008 and more recent spikes in oil and grain prices. The Commodity Futures Trading Commission voted to approve the regulations that will put a cap on the number of trading […]

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China to Launch Pilot Carbon Trading Program

Posted July 18th, 2011 at 3:35 am (UTC-5)
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China’s official news agency said Monday that the country will start a pilot carbon emissions trading project, and gradually set up a carbon emissions trading market. The Xinhua news agency quoted Xie Zhenhua, a top climate official, as saying Sunday that the plan would employ preferential and punitive tax polices to provide incentives to develop […]

US Jury Convicts 3 in Insider Trading Case

Posted June 13th, 2011 at 12:45 pm (UTC-5)
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A U.S. federal jury has convicted three Wall Street traders of fraud as part of a government crackdown on insider trading in the hedge fund industry. The jury in New York’s Manhattan district announced the guilty verdicts Monday in the cases of former Galleon trader Zvi Goffer, his brother Emanuel and Michael Kimelman. The three […]

Tags: , , Posted in Americas, Economy, US

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