Maybe it was the martini that helped Carl Icahn publicly support longtime nemesis Bill Ackman, but he still calls Marty Lipton "dead wrong."» Read More
One day after the U.S. Federal Reserve announced a decision to spend an additional $600 billion on easing, The Bank of England has opted to leave rates where they are , and not to escalate its own quantitative easing policy.
The growth situation has been gradually improving in the U.K., posting a reasonably strong number of .8% this past quarter. But inflation is well ahead of the 3.1% annualized target. And there have been warnings from retailers that higher raw goods prices are beginning to creep into the price of finished products.
It's worth remarking that, overall, fears of inflation are higher among the British people than they are in the United States.
In the mid-1970s, The U.K. experienced a ruinously high inflation rate of nearly 25% per year — and that memory is deeply seared into the DNA memory of the British public. Even at its worst — during the miserable malaise era of Jimmy Carter — inflation the United States remained well under 15%. That's nearly 10% lower than what the British had endured just a few years earlier.
Perhaps we have lessons to learn from our stoical brethren on the other side of The Pond?
The hard fought battle last summer over derivatives regulation reform may be about to be replayed—but this time one of the strongest proponents of stricter legislation will be absent on the field of battle.
Democratic Senator Blanche Lincoln became a staunch advocate of derivatives reform while facing a primary challenge from her party's left. Many thought that she would soften her stance on derivatives following her primary victory, especially because even many Democrats thought her proposals went too far.
Instead, she stuck to her guns, proposing amendments to Dodd-Frank that limited the ability of banks to engage in proprietary trading of derivates, forcing them to spin-off or separately capitalize derivatives trading desks. A slightly modified compromise version of this proposal made it into the final bill, albeit with an implementation time table that stretched out for years.
Prameela Nagaraj holds a bachelor's degree from the State University of New York at Binghamton. Since graduating in 1997, she has held regulatory paralegal positions at UBS and Merrill Lynch. But, you won't find her working for a financial services firm now. Nagaraj starts this week as a seasonal salesperson at a Coach Outlet Store in New Jersey.
"This job is from November third until January fifth. The day of the interview it was made clear this was only seasonal work. But, I hope this job opens a door for me... after a long time of looking and being frustrated. " says Nagaraj.
Nagaraj isn't alone.
Bill Ackman also tells CNBC that Allergan's poison-pill defense doesn't make his takeover bid more difficult.
The bull market is seeing the equivalent of its first gray hairs and the proof is in Tuesday's blast of merger activity.
Greenlight Capital supports the subject of the book 'Flash Boys' and thinks investors should consider routing orders there.