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  Friday, 4 Feb 2011 | 1:37 PM ET

Charlie Don't Surf at BNY Mellon

Posted By: Ash Bennington
Bank of New York Mellon
Getty Images
Bank of New York Mellon

Charlie don't surf—and he don't tell the truth about his FX trades at Mellon either.

At least not according to allegations from a whistleblower group.

» Read More
  Friday, 4 Feb 2011 | 1:01 PM ET

Defense Tech CEO Paul Cofoni On Our Dangerous World

Posted By: Lori Ann LaRocco

With the nation's deficit continuing to balloon, the knife is out to slash budgets. One of the items on the chopping block is the defense budget.

The worry over cuts has been hanging over the industry for sometime. I recently had the change to talk to Paul Cofoni, the President and CEO of Defense Information Technology Contractor CACI about the outlook for the sector.

» Read More
  Friday, 4 Feb 2011 | 12:26 PM ET

Is the Fed's Real Target 1,755 for the S&P?

Posted By: Jeff Cox

Consider it the Fed’s chicken-or-the-egg dilemma: Do rising stocks drive down unemployment or does lower unemployment drive up stocks?

One view of the relationship between the two suggests that it is the former and not the latter, hence the continuation of the central bank’s easy-money policies.

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  Friday, 4 Feb 2011 | 11:41 AM ET

The Bonus War at UBS

Posted By: John Carney
UBS headquarters in Zurich, Switzerland.
Steffen Schmidt
UBS headquarters in Zurich, Switzerland.

The delay in the awarding of bonuses at UBS has many in the New York offices of the Swiss banking giant considering whether it is time to move to a rival firm.

Yesterday CNBC's David Faber broke the news that UBS was delaying the announcement of bonuses because top managers were unhappy with the size of the bonus pool. They felt that the pool was too small to allow them to fairly compensate their teams. Some feared they could lose their best people if they awarded bonuses smaller than what other Wall Street firms were handing out.

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  Friday, 4 Feb 2011 | 11:05 AM ET

Are Egypt Exposures Oversold?

Posted By: Ash Bennington
Protestors chant as they ride on an army tank transporter in Tahrir Square on January 29, 2011 in Cairo, Egypt. Tens of thousands of demonstrators have taken to the streets across Egypt in Cairo, Suez, and Alexandria to call for the resignation of President Hosni Mubarak. Riot police and the Army have been sent into the streets to quell the protests, which so far have claimed 32 lives and left more than a thousand injured.
Getty Images
Protestors chant as they ride on an army tank transporter in Tahrir Square on January 29, 2011 in Cairo, Egypt. Tens of thousands of demonstrators have taken to the streets across Egypt in Cairo, Suez, and Alexandria to call for the resignation of President Hosni Mubarak. Riot police and the Army have been sent into the streets to quell the protests, which so far have claimed 32 lives and left more than a thousand injured.

Do you have the nerve for a major contrarian play in the equity markets: How about buying stocks with exposure to Egyptian instability when everyone else is scrambling for the exits?

That seems to be the logic—at least in part—behind Morgan Stanley's upgrade of Apache.

» Read More
  Friday, 4 Feb 2011 | 9:35 AM ET

Will Your Wallet Soon Become a Historic Relic?

Posted By: Lori Ann LaRocco

Will the wallet soon be a thing of the past? At the rate mobile banking apps are being adopted, who knows.

Intuit announced Thursday its latest initiative, GoPayment, will be one of other first mobile payment apps available on the Android. Already available on the iPhone, the app offers flexibility for businesses to get paid right on the spot with the credit card swiping technology in the phone.

This credit card processing solution is the latest leap in the credit card smart phone process. I decided to ask, Omar Green, Director of Strategic Mobile Initiatives at Intuit about the future of this mobile monetary exchange and Brett King, author of Bank 2.0 on what this means for the banking industry.

» Read More
  Friday, 4 Feb 2011 | 8:44 AM ET

Labor Number Schizophrenia: Economy Adds Only 36,000—but Unemployment Rate Falls to 9%

Posted By: Ash Bennington

Labor number schizophrenia : Economy adds only 36,000 — but unemployment rate falls to 9%.

Egypt Braces for Massive Protests [Wall Street Journal]

Egyptians want Mubarak out —today [Financial Times]

Analysts expect job numbers to jump upward [Reuters]

Ally Financial picks the usual suspects to take it public: Cit, Goldman, JPMorgan, and Morgan Stanley.[CNBC via Reuters]

Bernanke sees catastrophe if debt ceiling isn't raised. [ZeroHedge]

Shocker: Republicans and Democrats disagree about Fannie & Freddie. [Boston Globe]

"The Worst Cell Phone on Earth" [Slate | Hat Tip: Felix Salmon]

Egypt Not Iran '79—should that reassure us? [Bloomberg]

ADP is terrible at predicting payroll numbers [Barry Ritholtz]

Work for Meredith Whitney now! [DealBreaker]

Early Superbowl Commercial Preview? [NY Times]

»Read more
  Friday, 4 Feb 2011 | 7:12 AM ET

Degrees Of Debt: MBAs

Posted By: Stephanie Landsman

Twenty-six year old Craig Rosen is taking a $100,000 gamble on his future.

That's how much Rosen, a first year MBA student at the University of Southern California, will owe in loans when he graduates.

"Having a bachelor's degree is no longer enough to be competitive in corporate America. A graduate degree is a way to set yourself apart from competition," said Rosen. "I think most students at USC are optimistic that they will be able to find an internship or full time position after this school year ends."

» Read More
  Thursday, 3 Feb 2011 | 4:38 PM ET

Six Charged With Expert Network Insider Trading

Posted By: Ash Bennington
  Thursday, 3 Feb 2011 | 4:24 PM ET

The 'Rabbit Conspiracy'

Posted By: Ash Bennington
Singapore Celebrates Chinese New Year
Getty Images
Singapore Celebrates Chinese New Year

I'm beginning to wonder if the meaning of The Year of The Rabbit isn't something of a secret.

Today, as you likely already know, is the Chinese Lunar New Year: And 2011 is the Year of The Rabbit.

» Read More

About NetNet

  • NetNet is where you'll find the low-down and the high jinks of Wall Street. It's the place for insider stories, trader gossip, and tales of the foibles of the moneyed crowd and the culture of finance.Wall Street news and commentary served fresh all day long.

 

  • Jeff Cox is finance editor for CNBC.com.

  • Lawrence Develingne

    Lawrence Delevingne is the ‘Big Money’ enterprise reporter for CNBC.com and NetNet.

  • Stephanie Landsman is one of the producers of "Fast Money."

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