NEW YORK, Dec 6- Former Goldman Sachs Group Inc trader Matthew Taylor was sentenced on Friday to nine months in prison and pay $118 million in restitution to his former employer after he pleaded guilty to pursuing an unauthorized $8.3 billion futures trade in 2007..» Read More
"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.
Business responses to President Obama’s State of the Union address reflected praise for his rhetorical commitment to “winning the future” and his support for innovation, education and infrastructure, while raising concerns about the details of his policy proposals, reports the Financial Times.
US public pensions face a shortfall of $2,500 billion that will force state and local governments to sell assets and make deep cuts to services, according to the former chairman of New Jersey’s pension fund, reports the Financial Times.
Goldman Sachs has revealed details of about $5 billion in investment losses suffered during the crisis for the first time this week, in a move that will deepen the debate over companies’ financial disclosures, reports the Financial Times.
Banking regulators have quietly taken a major step toward harmonized global regulation by agreeing to raise worldwide capital requirements whenever an individual country declares a credit bubble.
The European Central Bank intervened to prop up the euro zone bond markets on Monday as political leaders and bankers warned the debt crisis was deepening amid fears Portugal was edging closer to an international bail-out. The FT reports.
Retailers in Britain are bracing themselves for a deterioration in trade in the coming year as the government’s VAT increase, coupled with swingeing spending cuts, put people off spending on the high street. The FT reports.
If any place in the world epitomises the David and Goliath battle that is upending the global beer industry it is Belgium, home to both the world’s largest brewer, Anheuser-Busch InBev, and arguably the famous small-scale “craft” beers, the trappist ales made and distributed by monks, reports the Financial Times.
Predictions at this time of year often give the seductive impression of accuracy. Analysts put the standard inputs into their model and disgorge a prediction for indices 12 months hence, reports the Financial Times.
Banks have sold a record amount of covered bonds this year, as jittery investors backed the ultra-safe forms of debt, in a trend expected to continue in 2011. The FT reports.
January in the northern hemisphere is usually the coldest month of the year and it might prove to be a bitter one for euro zone governments trying to raise money in the capital markets, reports the Financial Times.
Users of automated teller machines will be invited to make charity donations every time they take money out of a “hole in the wall” under government plans, reports the Financial Times.
Eurozone end-of-year financial market tensions have been highlighted by the European Central Bank’s failure to reabsorb funds it has spent on buying government bonds to combat the region’s debt crisis, reports the Financial Times.
BlackRock, the world’s largest money manager, expects to launch an internal trading platform next year in a move that would strike at the heart of the profit centers of many Wall Street firms. The FT reports.
The European Central Bank increased its intervention in government bond markets last week, indicating that the euro’s monetary guardian remained wary of an escalation of the eurozone debt crisis, reports the Financial Times.
Julian Assange has signed book deals worth more than £1 million ($1.5 million) in the US and UK, to allow the WikiLeaks founder to cover his legal fees and maintain the whistleblowing site, reports the Financial Times.
Math-loving traders are using powerful computers to speed-read news reports, editorials, company Web sites, blog posts and even Twitter messages — and then letting the machines decide what it all means for the markets.
The Financial Times has named Apple CEO Steve Jobs as person of the year. When he first hit the headlines, he was younger even than Mark Zuckerberg is now. His formative role in popularizing the personal computer, and Apple’s initial public offering on Wall Street – which came when Mr Jobs was still only 25 – made him the tech industry’s first rock star, the paper said.
Fresh details have emerged of secret talks between bank auditors and the government during the financial crisis, as regulators prepare changes to the auditor’s role to lessen the risk of similar chaos. The FT reports.
Why has Britain managed to boldly go into fiscal territory which the US has hitherto ducked? That is the $800 billion question hanging in the air in New York this weekend, after George Osborne, chancellor, visited the city. The FT reports.
Gold dove on the jobs report, then soared. Here's why.
Siegel and Wien disagree over how much the Fed has driven this year's rally.
Blackstone's Byron Wien and Wharton's Jeremy Siegel have at it in a wide-ranging debate on the market and the economy, with CNBC's Jackie DeAngelis and the Futures Now Traders.