Financial Markets

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Justice Dept vows focus on white collar crime

Reuters US Online Report Domestic News 22 hours ago

NEW YORK (Reuters) - The U.S. Justice Department sees wire taps as a crucial tool to root out securities fraud as it collaborates more closely with market regulators, a senior department official said on Friday, one day after new charges were filed ...

Insider trading probe ensnares 14 more

Reuters US Online Report Top News 23 hours ago

NEW YORK (Reuters) - Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal that has ensnared hedge fund managers, top Silicon Valley executives and a bevy of white-shoe advisers. In complaints that read like ...

SEC sees evolution in insider trading

Reuters US Online Report Business News 23 hours ago

NEW YORK (Reuters) - A top U.S. securities regulator said some funds may now view insider trading as a central tenet of their business models, rather than as a one-time opportunity for big rewards as sometimes happened in the 1980s. Robert Khuzami, ...

Stocks, commods gain ground, payrolls eyed

Reuters US Online Report Business News 23 hours ago

LONDON (Reuters) - Global stocks and commodities gained on Friday, buoyed by firm U.S. data the previous session, lifting risk appetite ahead of hotly anticipated jobs data which will give more evidence on the state of the global economy. Investors were reluctant ...

Charles Schwab expects 28 pct jump in fee waivers

Reuters US Online Report Business News 23 hours ago

NEW YORK (Reuters) - Charles Schwab Corp <SCHW.O> expects to waive about $100 million in money market fees in the current quarter, up 28 percent from the previous quarter, the largest U.S. discount brokerage said on Thursday. Management, speaking at a quarterly ...

RIM stock climbs on share buyback

Reuters US Online Report Business News yesterday

TORONTO (Reuters) - BlackBerry maker Research In Motion Ltd <RIM.TO> <RIMM.O> announced a share buyback worth up to $1.2 billion on Thursday, but analysts said competitive concerns will continue to exert pressure on the company's stock. RIM's shares climbed 3.2 percent after ...

Hyatt shares jump in debut on NYSE

Reuters US Online Report Business News yesterday

NEW YORK (Reuters) - Hyatt Hotels Corp <H.N> shares jumped 8 percent in their debut on the New York Stock Exchange Thursday, spurred by the hotel company's strong balance sheet and low valuation. The $950 million initial public offering of Chicago-based Hyatt ...

Gold retreats from record as dollar firms

Reuters US Online Report Business News yesterday

LONDON (Reuters) - Gold prices retreated on Thursday from the record highs they hit in the previous session as the dollar rose ahead of policy decisions from the UK and the euro zone, which curbed appetite for assets seen as higher risk. ...

Frank seeks changes in derivatives bill

Reuters US Online Report Business News yesterday

WASHINGTON (Reuters) - The chairman of the U.S. House Financial Services Committee is seeking changes to draft legislation for the $450 trillion privately-traded derivatives markets, with the intent of making it harder for banks to avoid trading the contracts on exchanges. Barney ...

Canadian GLG Life Tech plans IPO in the US

AP News yesterday

Canadian sweetener supplier GLG Life Tech plans US public offering of 3.6 million shares Canadian sweetener supplier GLG Life Tech Corp. plans to offer 3.6 million common shares in a U.S. initial public offering. The company, which makes zero-calorie natural beverage sweeteners ...

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