Search Results for: FED
Platt’s $50 Billion Hedge-Fund Dream Deferred
November 10th, 2014
When billionaire Michael Platt flew to the Middle East in September 2013, he was running one of the world’s largest hedge funds. He wanted to make it bigger. He told investors at the region’s sovereign-wealth funds that his BlueCrest ...
Precious Metals. The second leg of the bubble unwind is upon us
November 10th, 2014
I need to say something about precious metals. I’ve been a vocal bear on them since 2011. Those who’ve subjected themselves to my blog—or worse, my Twitter account—know that. The bottom line is that a pre-crisis boom in commodities ...
Yuan Bears Say Record Dollar Debt to Fuel Decline: China Credit
November 7th, 2014
Yuan bears have added Chinese companies’ record dollar borrowings to the list of reasons why the currency may weaken. Chinese firms raised $196 billion from loans and bonds this year, 11 times more than the $17.7 billion of 2008, ...
Putin Ally Denies Knowledge of U.S. Money Laundering Investigation
November 7th, 2014
A commodities firm under investigation by federal prosectors on suspicion of money laundering and improper oil trading said on Thursday that it had no knowledge of the inquiry and called allegations of wrongdoing “baseless and false.” The investigation, first reported by The ...
Lame Duck Congress Likely to Pass Tax Extenders
November 7th, 2014
A panel of Congressional staffers was unanimously optimistic Thursday morning that the lame-duck Congress would pass a package of “extenders,” including ones that would preserve tax breaks for research and development investments and purchases of equipment. Summing up the ...
U.S. jobs data to show economy’s resilience
November 7th, 2014
U.S. employers likely hired new workers at a fairly brisk clip last month, underscoring the economy’s resilience in the face of slowing global demand. Employers probably added 231,000 new jobs to their payrolls after boosting them by 248,000 in ...
Gold Slumps With Silver to Lowest Since ’10 as Platinum Retreats
November 7th, 2014
Gold and silver tumbled to the lowest level in more than four years as a gauge of the dollar headed for the biggest weekly advance in more than 12 months, curbing demand. Platinum dropped to the lowest since 2009. ...
Asian shares slump, euro wallows near lows
November 7th, 2014
Asian shares edged down on Friday ahead of U.S. employment data later in the session, while the euro wallowed around two-year lows after European Central Bank President Mario Draghi vowed to take more easing steps to spark growth in ...
BofA triples third-quarter loss due to forex legal expense
November 7th, 2014
Bank of America Corp (BAC.N) tripled its third-quarter loss to $232 million, in a revision that added legal costs related to global investigations into foreign exchange trading at major banks. Regulators are investigating allegations that dealers colluded and manipulated key ...
Texas man charged in first-ever bitcoin Ponzi scheme
November 7th, 2014
In the first federal securities case involving a Ponzi-scheme using the digital currency, a Texas man was charged Thursday in New York with defrauding investors of millions of dollars worth of bitcoin. Trendon Shavers, 32, was arrested at his ...
