Manufacturing and corporate profits are both in recession mode, even though the rest of the U.S. economy continues to limp along.» Read More
Remember Paul Ceglia?
He's the fellow in upstate New York who sued Mark Zuckerberg last July , claiming that, way back in 2003, Zuckerberg had agreed to give him a 50% ownership in the project that became Facebook.
That claim seemed preposterous at the time, not least because Ceglia had waited 7 years to file it.
And there was also the fact that Ceglia was a convicted felon, having been charged with criminal fraud in connection with a wood-pellet company he operated .
The news that two of Bank of America's top accounting executives were not consulted before the bank disclosed that a proposed dividend increase had been rejected by regulators is a devastating indictment of the bank's internal controls.
"Budget Tricks Helped Obama Save Programs From Cuts" [CNBC.com via AP]
"FCC is playing hardball with AT&T" [CNNMoney]
Looks like another deadline of the Dodd-Frank Bill will come and go. This one is the much talked about July 21 hedge fund registration deadline.
SEC Associate Director Robert Plaze recently sent a letter to the President of the North American Securities Administrators Association Inc., saying "we expect the Commission will consider extending the date ... until the first quarter of 2012."
The letter said advisers with assets between $25 million and $100 million are likely to get a six-month grace period. So is the SEC playing nice with the hedge fund sector? Or are they simply unable to handle the workload? I decided to ask Tom Westle, Partner at Blank Rome LLP, who represents hedge funds, about this latest development.
Many venture capital investors I've spoken with are pleased with the news that the Securities and Exchange Commission may be loosening rules on capital raising by private companies.
But they should be careful. This change might wind up threatening the business model of venture capital firms.
It was hardly surprising to learn this morning that Pimco’s $235.9 billion flagship bond fund had gone net short Treasury bonds.
But I was surprised to learn in conversations how many people were convinced that this was exactly the right move—although some wonder if Pimco might be a bit early.
As investors prepare for the beginning of earnings season, two threats are lurking in the shadows: Toppy corporate profit margins and the threat to a consumer just showing signs of recovery.
Should either specter emerge from the dark it could cast a scary pall over how strong growth will be in coming quarters.
The news that the Securities and Exchange Commission is considering raising the 500-shareholder limit on non-public companies and relaxing the general solicitation rules on selling unregistered securities was a welcome surprise.
I had expected the SEC to react to Goldman Sachs offering of Facebook non-registered, private shares to go in the opposite direction: an immediate attempt to shut down or highly regulate the markets for non-registered securities.
If there's any doubt the Fed is targeting December for its first rate hike, just look at the bond market.
Italy plans to launch a series of bad bank-style measures as early as the end of the year, the FT reports.
Hillary Clinton's close ties to Wall Street is an image she can't seek to shake, The New York Times reports.