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Stocks closed sharply lower in volatile trading Tuesday, with the Dow and S&P 500 snapping their four-day rally, as ongoing worries over the impasse over the debt ceiling continued to weigh on the markets.
NEW YORK, Oct 15- A former executive of Bank of America's Countrywide unit told a federal jury on Tuesday that she did not knowingly sell toxic mortgages to Fannie Mae and Freddie Mac in the run-up to the financial crisis.
NEW YORK, Oct 15- Banks and investors are fine-tuning plans to try to reduce the risk that operational failures will disturb crucial short-term lending markets if the U.S. U.S. Senate negotiations were suspended on Tuesday until House Speaker John Boehner can work out a plan that can pass the House of Representatives.
If the government cannot make its payments because of the debt ceiling, banks might fill in the gap.
NEW YORK, Oct 15- U.S. lawmakers are negotiating to raise the debt ceiling before the Treasury is expected to run out of funds, leaving the country at risk of defaulting on its debt. Below are some key questions relating to the government bond market's role in the markets, and how it would be affected by a potential default.
NEW YORK, Oct 15- With IntercontinentalExchange's more than $10 billion takeover of NYSE Euronext expected to close early next month, regulators in the Netherlands and France are scrambling to prevent Euronext from once more falling into foreign hands, according to several sources familiar with the situation.
*Third-quarter adjusted profit $1.02/ shr vs est $1.04. Oct 15- Citigroup Inc reported a marginal fall in adjusted quarterly profit from ongoing businesses after the Federal Reserve's decision to continue its bond-buying program for longer than expected slowed trading by clients.
U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with shares in Europe and Asia trading up on hopes of a pending U.S. budget deal.
Regulators and investors seem to disagree with recent calls for the ouster of the head of JPMorgan over the bank’s expensive legal troubles.
TOKYO, Oct 15- Asian shares rose to their highest in nearly five months on Tuesday on heightened hopes for a deal in Washington to reopen the U.S. government and avert a possible debt default, though investors will remain wary until they see the final outcome. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.8 percent to its highest since May 23.
TOKYO, Oct 15- Asian shares rose to their highest in nearly five months on expectations of an imminent deal to reopen the U.S. government and avert a possible debt default, though the squabbling in Washington kept markets on edge ahead of Thursday's deadline.
NEW YORK, Oct 14- Private equity firm KKR& Co LP and its co-investors, which took First Data Corp private for $29 billion in 2007, are making a new $300 million investment in the world's largest payment processing company to help it refinance its debt.
If the Madoff trustee is successful in suing banks for ignoring warning signs, the liability of financial firms could be enormous in future cases.
TOKYO, Oct 15- U.S. stock index futures ticked higher on Tuesday on expectations of an imminent deal that will reopen the U.S. government and avert a possible debt default, though the political squabbling in Washington kept markets on edge ahead of the Thursday deadline. Many markets in the region, including Singapore, Indonesia and India, were closed for holidays.
"The 17th will come, the lights will still be on and everything will look normal for 99 percent of Americans," said Steve Bell, a budget expert at the Bipartisan Policy Center in Washington. The Congressional Budget Office estimates Washington would start missing payments between Oct. 22 and the end of the month.
Oct 14- British authorities investigating potential manipulation in the currency markets are looking at the role of a senior trader at JPMorgan Chase& Co while he worked for another firm, the Wall Street Journal reported on its website on Monday.
LONDON, Oct 14- Trading volumes across financial markets have fallen in the first two weeks of October as uncertainty over the U.S. fiscal impasse saps investor appetite, boding ill for banks' fourth-quarter revenues.
NEW YORK/ ZURICH, Oct 14- In spring 2009, senior Credit Suisse executive Gaël de Boissard told colleagues at a strategy meeting that as the bank reshaped its bond trading business, they needed to remember the five stages of grief outlined decades ago by psychiatrist Elisabeth Kübler-Ross.
Given the recent pessimism for bank earnings, how are you trading Goldman Sachs ahead of its Thursday report card?
NEW YORK, Oct 11- The amount of insured municipal bonds continued to drop in the first nine months of 2013, down nearly 18 percent to $8.2 billion from the same period last year, and 27 percent from the previous quarter, according to Thomson Reuters data released on Friday.