Aaron Brown News
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The U.S. National Transportation Safety Board is defending itself against accusations it skewed a study that preceded the shutdown of 26 so-called Chinatown bus operations in the Northeast.
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JPMorgan Chase & Co.’s multibillion- dollar trading loss exposed an industry practice that U.S. regulators are now likely to clamp down on: Banks keep investors in the dark about how they calculate trading risks.
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Palm oil dropped to the lowest level in four weeks as global production of palm and soybeans is set to climb this year on increased acreage.
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Confusion about what constitutes proprietary trading under the Volcker rule may spur banks to reduce market making for customers, according to Craig Pirrong of the University of Houston and Thomas Gira of the Financial Industry Regulatory Authority.
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“We do know what we’re doing,” UBS AG Chief Executive Officer Oswald Gruebel told investors last year about plans to step up risk-taking to boost profit. “Risk is our business.”
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A formula for measuring how fast the best-informed traders increase their share of market volume may help regulators prevent crashes such as the May 6 plunge, according to a study from researchers at hedge fund Tudor Investment Corp. and Cornell University.
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Third-ranked Duke University fell 78- 73 to Temple University, which snapped a nine-game losing streak with its first win in 16 years against the Blue Devils in college basketball.
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The U.S. Commodity Futures Trading Commission may increase risk of manipulation and volatility in markets for oil, gas and other commodities unless new speculation limits apply similar treatment to physical-settled and cash-settled derivatives, Senator Maria Cantwell said.
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