Violence in the Middle East and lower oil stockpiles in the United States supported prices. Brent futures for August delivery were up 50 cents to $106.52 a barrel by 0940 GMT and set for their highest close since April 4. U.S. crude for July delivery rose to a nine-month high of $99.01, before easing to $98.91, still up 47 cents.» Read More
A Credit Suisse banker has been arrested in connection with a long-running US tax evasion investigation and could be one of several individuals likely to face charges this week as prosecutors turn their focus from institutions to bankers and wealthy clients, said people familiar with the matter.
Bank of America has revised the results of its international credit card business for the last two years, adding a $20.3bn non-cash goodwill writedown in 2009 while reversing a $10.4bn charge made last year.
Hedge fund managers are hiring security firms to sweep their offices and homes for listening devices, security experts say, in reaction to the US government’s insider trading investigations. The FT reports.
Demand for emergency loans from the European Central Bank has stayed at unusually high levels for a second day in a row. The FT reports.
“Anything you want on land, sea or air, we can do it.” This is how Bahrain’s King Hamad bin Isa al-Khalifa summed up his support for US policy when he met General David Petraeus, one of the top US army officers, in May 2009, reports the Financial Times.
The spread of protests to strategically vital countries such as Bahrain has put the US on the back foot after years when Washington appeared to overestimate the impact of local leaders’ reform efforts. The FT reports.
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US lawmakers have expressed opposition to the idea of allowing US states to seek bankruptcy protection to alleviate pension underfunding and other debt burdens. The FT reports.
Russia boasted 114 dollar billionaires at the end of last year, according to an annual ranking of the country’s richest 500 published on Monday by Finans magazine. The new record represents a remarkable comeback for a breed that seemed endangered when Russia’s stock market hit rock bottom in February 2009.
ETFs have emerged as a possible mechanism for maximizing gains in one stock while potentially masking trading patterns, people familiar with the matter told the FT.
Switzerland has witnessed an inflow of Russian oil traders, bolstering the country’s claims to be the world’s leading trading center for physical oil, industry executives said. The FT reports.
Meredith Whitney, once a media darling , finds herself pilloried in the news media and by colleagues these days for predicting a calamity in municipal bonds. Critics say the call is overstated, but it has alarmed investors in that usually sleepy market. The New York Times reports.
Britain is to call for countries to agree rules for “acceptable behaviour” in cyberspace amid concern about what is seen as a growing security threat. The FT reports.
Top European Union officials will on Wednesday call for curbs on derivatives markets and greater use of trade policy to reduce volatility in commodity prices and improve the bloc’s access to key raw materials.
Competition to lend to large US companies is forcing banks to start easing credit terms according to the latest Federal Reserve survey of senior credit officers. The FT reports.
The European Central Bank suspended its emergency purchases of euro zone government bonds last week as the debt crisis eased, allowing it to focus on combating rising inflation, reports the Financial Times.
An overwhelming majority of business and financial leaders from around the world think there is a chance that one or more eurozone countries will leave monetary union over the next three years, reports the Financial Times.
Europe’s banking system is returning to health amid signs that financial institutions are no longer hoarding cash, according to key indicators, reports the Financial Times.
Leading hedge fund managers have hit back at calls for tougher regulation of their industry made by Gary Cohn, Goldman Sachs president, in Davos. The Financial Times reports.
"These costs are serious and they are growing," said Robert Kurtter, managing director of the state and local government finance group at Moody’s, according to the Financial Times.
The poor man¿s gold ¿ silver ¿ could outperform the bullion, according to Simon Mikhailovich, Co-Founder at Tocqueville Bullion Reserve. Here's why.
Gold fell for a third straight session on Wednesday, hovering near the lowest level in four weeks.
CNBC's Josh Lipton looks at three stocks to watch tomorrow, including FedEx, which reports tomorrow; Domino's, and the secret to its turnaround success; and Adobe, following its earnings beat.