US federal prosecutors revive a 30 year old law to prosecute Wall Street banks that sold toxic loans in 2008.
Finance/Venture
Currency options allow flexibility unlike stop loss
While the regular safety net is a stop loss, now currency options provide more flexibility. When trading foreign currency without the use of a safety measure, an example of which is a stop loss mechanism, is considered as financial suicide.
Swiss central bank says franc ceiling to remain
Swiss National Bank keeps its franc ceiling of 1.20. The Swiss National Bank (SNB) will maintain the franc ceiling of 1. 20 against the euro. The SNB imposed the ceiling on the franc in September of 2011 which allowed it to stockpile foreign-currency reserves that is equivalent to 75% of Switzerland's annual economic output.
Bank of Canada’s low rates to remain: Poloz
Bank of Canada will keep its targets of keeping rates low. The Bank Canada will stick to its targets in terms of keeping rates low despite talks of economic weakness during the G20 meetings in Moscow, Governor Stephen Poloz told reporters on Saturday.
Merkel should tell German taxpayers they are not immune to debt crisis: opposition
German opposition leader slammed Chancellor Merkel for not telling taxpayers that they will not be "excluded in any way" if the writeoffs continue.
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SEC's persistence to pursue the case against Fabrice Tourre, Goldman Sachs' junior salesman, may backfire.
Greek workers took to the streets their opposition over the proposed plan to retrench state workers.
The credit rating of “AAA” of the US was affirmed by Moody. Moody's Investor Services affirmed the United States' credit rating of AAA. The main reason for the affirmation was a shrinking budget deficit.
Consumer inflation was recorded at 0.5% last June, a figure that exceeded economists projections to reach about 0.3%.
Spanish lender BBVA agrees to sell its Panama unit for US $646 million in favor of Colombia’s second biggest banking conglomerate.
Visco of ECB stressed the importance of communication in an exit strategy. Ignazio Visco, a member of the European Central Bank Governing Council, stated that central banks needed to work on improving communication when it comes to exiting from an unprecedented monetary policy.
Fannie and Freddie are not making much progress The revamp of Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FMCC) was not making much, or any, progress.
Japan was a winner when it came to how its stocks performed on the market. Japanese stocks were performing well. In fact, it topped in terms of gains this year in comparison to 24 major developed equity markets.
Financial firms' physical commodity trading may come to an halt as the Fed reconsiders its policy on this.
