WASHINGTON, July 21- Commissioner Scott O'Malia said on Monday he intends to leave the U.S. Commodity Futures Trading Commission, creating a vacancy just a short while after Chairman Tim Massad took over at the derivatives regulator. Before joining the CFTC, he was the staff director at the Senate Appropriations Subcommittee on Energy and Water Development.» Read More
A US tax evasion investigation that has prompted charges against several Swiss bankers has expanded to include Israeli and Asian banks, according to lawyers close to the probe. The FT reports.
A JPMorgan fund is in talks to acquire a substantial stake in Twitter, one of the fastest-growing social networking sites.
Ireland goes to the polls on Friday in a general election expected to sweep the ruling coalition from power – the first defeat for a eurozone government since the onset of the debt crisis.
Saudi Arabia is in “active talks” with European oil companies to meet the production shortfall left by Libya, the clearest indication to date that the leader of the Opec oil cartel is about to boost supplies to stop further rises in the oil price.
Muammer Gaddafi’s family has built up vast business interests in sectors ranging from oil to hotels during his 41-year rule, giving it a hold over large swathes of Libya’s economy, according to US diplomatic cables and governance groups, reports the Financial Times.
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.
abstract goes here
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.
Will this week's earnings reports really be enough to support the market?
Former OMB Director David Stockman explains how Russia could be the pin that pricks the global asset bubble.
Former OMB Director David Stockman comments on the downed Malaysian jetliner, the U.S. economy and risks in the market. Also, is oil ready to break out and tech's big moment, with CNBC's Jackie DeAngelis and the Futures Now Traders.
Brent held above $107, with worries over geopolitical tension balanced by expectations of large draws in U.S. oil stockpiles.
Gold eased on Tuesday as Asian shares gained strength but the metal continued to stay above $1,300 an ounce.
U.S. shale players are pursuing big deals. Will they wind up the same as Big Oil's disappointing mergers?