Fund managers and electronic traders for the first time account for more than half the $5.3 trillion- a-day currency market as regulators investigate at least 11 dealers for alleged collusion on benchmark rates.
Apple Inc., the world’s most valuable technology company, was found by a federal jury not to infringe the patent of a 70-year-old electrical engineer who claims he came up with the idea for the smartphone.
FX Concepts LLC, the currency hedge fund founded by John Taylor in 1981, asked a bankruptcy court for permission to sell its trademark and trading models to Ruby Commodities Inc. for $7.48 million after an auction yesterday.
Sprint Corp., the third-largest U.S. wireless carrier, says it won’t bid on airwaves known as the H Block in an auction planned by the Federal Communications Commission, giving Dish Network Corp. one less competitor.
Currency traders from Deutsche Bank AG to HSBC Holdings Plc, after enjoying a boom just a few months ago amid speculation the Federal Reserve was preparing to pare record stimulus, are again seeing their profits squeezed.
The Federal Reserve would be required to have a “systematic” rule for adjusting interest rates under a proposal raised today by Stanford University Professor John Taylor, a critic of the Fed’s monetary stimulus.
The reason Hu Jintao decided to visit the U.S. this month is that the Chinese leader wants to know when the U.S. economy and its currency will be stable and strong again. It’s good the Chinese are known for patience because Hu may have to wait a while.