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Finance NetNet


  Thursday, 10 Mar 2011 | 5:03 PM ET

Violence In Saudi Arabia Could Threaten World Oil Supplies

Posted By: Ash Bennington
Ian McKinnell | Getty Images

Reports of police firing on protestors in the Saudi Arabian city of Qatif evoke a possible nightmare scenario for the disruption of oil from a country that sits atop the world's largest proven oil reserves.

While Saudi Arabia is not the largest oil exporter to the United States, oil is still a fungible commodity – and any supply disruption on such a massive scale would certainly send US energy costs soaring. \(The Kingdom of Saudi Arabia sits on a staggering quarter trillion barrels of oil proven in the ground.\)

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  Thursday, 10 Mar 2011 | 4:08 PM ET

Is There a Culture of Corruption at McKinsey?

Posted By: John Carney
Rajat Gupta
Eric Piermont | AFP | Getty Images
Rajat Gupta

The revelation that there may have been a “third man” at McKinsey with connections to the alleged insider trading schemes of Galleon founder Raj Rajaratnam casts a shadow across the reputation of the famous consulting firm. How deep does the corruption run?

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  Thursday, 10 Mar 2011 | 4:00 PM ET

If You Haven't Already, Meet Victor Niederhoffer

Posted By: Ash Bennington
Viktor Neiderhoffer
Viktor Neiderhoffer

If you don't know who Victor Niederhoffer is you should. With that goal in mind, NetNet is going to begin following his blog, Daily Speculations , and providing regular commentary and links.

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  Thursday, 10 Mar 2011 | 3:40 PM ET

Saudi Arabian Unrest: Thumbnail Summary of a Potential Crisis

Posted By: Ash Bennington

Reports from Saudi Arabia indicate that police have opened fire on protestors at a rally in the eastern city of Qatif.

Reports from the Associated Press contain references to stun grenades—as well as live ammunition—being used on protestors.

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  Thursday, 10 Mar 2011 | 2:46 PM ET

Will Cotton-Eye Joe Catch the Denim Blues?

Posted By: Stephanie Landsman
A farm laborer works at a cotton factory in Korla city, Xinjiang Uygur Autonomous Region, China.
Getty Images
A farm laborer works at a cotton factory in Korla city, Xinjiang Uygur Autonomous Region, China.

The fabric of our lives may start to feel like burlap.

Your favorite brands and styles could start feeling…. irregular.


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  Thursday, 10 Mar 2011 | 1:43 PM ET

War Machine Watch: The Official 'Line' on No-Fly Zones

Posted By: John Carney
Libyan opposition supporters demonstrate in Benghazi, Libya.
Getty Images
Libyan opposition supporters demonstrate in Benghazi, Libya.

A few readers have asked why a business web site should run a daily feature on the potential for war with Libya.

The answer is simple: war dominates markets. It affects almost every public company, every investment portfolio, and every decision to go long, short, or sit on the sidelines.

In short, we can't ignore the economic and financial effects of a potential war because they won’t ignore us.

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  Thursday, 10 Mar 2011 | 1:08 PM ET

Alaska Governor Sean Parnell: Health Care Reform Is Going to Bankrupt States

Posted By: Lori Ann LaRocco

The unrest in the Middle East is coming in waves. The tidal wave it has created at the pump is taking a big bite out of consumers wallets. We hear about our nation's untapped oil reserves but with the "no new wells" policy there is no hope it can be explored.

In Alaska, the Governor, Sean Parnell is in his own battle with the legislature. But not for budget cuts. He's proposing tax incentives for oil companies to entice them to hang a shingle up in his state.

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  Thursday, 10 Mar 2011 | 12:36 PM ET

Billionaire Microcosm—How the New Forbes List Reflects the World

Posted By: Ash Bennington

I present to you—without editorial comment—a bullet list of quotations, taken from an article in The Financial Times, analyzing the makeup of the new Forbes billionaire list.

Draw from it what broader conclusions you may:

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  Thursday, 10 Mar 2011 | 12:07 PM ET

Cuckoo for Cocos

Posted By: Ash Bennington
Peter Dazeley | Photographer's Choice | Getty Images

Credit Suisse recently issued $2 billion in 'cocos'—which is a trendy sounding abbreviation for Contingent Convertible Bonds—a new hybrid security, created to correct the deficiencies of a previous generation of new hybrid securities.

I must confess: Cocos sound like a brilliant idea, on paper at least.

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  Thursday, 10 Mar 2011 | 10:56 AM ET

Fixing Banks: Nice Work if You Can Get It

Posted By: Ash Bennington

Europe's largest banks are preparing for Basel III by doing what banks love to do the most: Issuing new securities.

A recent article in the Financial Times discusses the latest round of securities innovation, ostensibly designed to allow banks to comply with the new capital requirements set forth in the Basel III standards.

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  • 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.


Wall Street

  • Federal Reserve Bank Board Chair Janet Yellen.

    Market conditions and stabilizing economic data could lead the Federal Reserve to raise interest rates in October, David Lebovitz said.

  • Job seekers attend a Job Fair Giant career fair in Sterling Heights, Michigan, Sept. 30, 2015

    Stocks sank and investors ran to Treasurys after a disappointing jobs report pushed off expectations for a Fed rate hike into 2016.

  • Job seekers wait in line to enter the Choice Career Fair in San Antonio, Texas.

    The economy created 142,000 jobs in September, a number that whiffed on expectations and could cool expectations that the Fed will start raising rates.