Opening Bell

  • lululemon

    Opening Bell

    Opening Bell: 06.23.14

    BNP Paribas nears up to $9 billion settlement with U.S. authorities: source (Reuters) French bank BNP Paribas SA is likely to pay $8 billion to $9 billion as part of a potential settlement with U.S. authorities over violations of sanctions, according to a person familiar with the matter. U.S. authorities are probing whether BNP Paribas […]

    / Jun 23, 2014 at 7:00 AM
  • kanyewest

    Opening Bell

    Opening Bell: 06.20.14

    Star-Struck Bankers Return to Hollywood to Finance Movies (Bloomberg) When Jay Cohen sought funding for a new independent film company, Wing and a Prayer Pictures, he had bankers falling over themselves to finance it. “We had seven banks call and offer us lines of credit,” says Cohen, head of film financing and distribution at Gersh […]

    / Jun 20, 2014 at 7:00 AM
  • david-tepper_281025s

    Opening Bell

    Opening Bell: 06.18.14

    Argentina Plans Debt Swap to Skirt Order to Pay Holdouts (Bloomberg) Argentina will seek to move its overseas bonds into local jurisdiction to skirt a U.S. court ruling forcing it to pay holders of defaulted debt in full. The swap will ensure holders of restructured bonds keep getting paid while allowing Argentina to avoid complying […]

    / Jun 18, 2014 at 9:30 AM
  • library

    Opening Bell

    Opening Bell: 06.17.14

    Study Asserts Startling Numbers of Insider Trading Rogues (Dealbook) A quarter of all public company deals may involve some kind of insider trading, according to the study by two professors at the Stern School of Business at New York University and one professor from McGill University. The study, perhaps the most detailed and exhaustive of […]

    / Jun 17, 2014 at 7:00 AM
  • Screen Shot 2014-06-15 at 11.25.30 PM

    Opening Bell

    Opening Bell: 06.16.14

    ‘Bitcoin Jesus’ Calls Rich to Tax-Free Tropical Paradise (Bloomberg) He’s known as Bitcoin Jesus in the world of cyber-currencies. Though he can’t promise you heaven, he is offering a haven: a condo in the Caribbean that comes with a new passport and almost zero taxes. Meet Roger Ver, ex-U.S. citizen, ex-convict, millionaire investor, self-described libertarian […]

    / Jun 16, 2014 at 7:00 AM
  • philmickelson

    Opening Bell

    Opening Bell: 06.12.14

    Mickelson Role Said to Be Overstated in Insider Inquiry (Dealbook) Phil Mickelson, the famed golfer, did not trade in the shares of Clorox just as the billionaire investor Carl C. Icahn was mounting an unsolicited takeover bid for the company in 2011, say four people briefed on the matter. Recent reports in The New York […]

    / Jun 12, 2014 at 7:00 AM
  • Cabecao

    Opening Bell

    Opening Bell: 06.11.14

    Bank of America Mortgage Settlement Is Said to Be Deadlocked (Dealbook) Bank of America and the Justice Department have reached an impasse in negotiations over a multibillion-dollar settlement deal, raising the stakes in an investigation into the bank’s role at the center of the mortgage crisis. The talks stalled on Monday after the bank’s latest […]

    / Jun 11, 2014 at 7:00 AM
  • blankfeincohn

    Opening Bell

    Opening Bell: 06.10.14

    Goldman Shuns ‘New Neutral’ After Doubting ‘New Normal’ (Bloomberg) Goldman Sachs economists led by Jan Hatzius and Dominic Wilson are questioning the bet made last month by investor Bill Gross that Federal Reserve monetary tightening will be much less aggressive than in the past — when it comes. “We do not disagree that the Fed […]

    / Jun 10, 2014 at 9:30 AM
  • Screen Shot 2014-06-09 at 9.50.59 AM

    Opening Bell

    Opening Bell: 06.09.14

    Sex, Drugs and GDP: the Challenge of Measuring the Shadow Economy (WSJ) The U.K., Ireland and Italy are among the nations now moving to include illicit doings when tallying their gross domestic product, the broadest measure of goods and services across an economy. The U.K. could add as much as $9 billion to the value […]

    / Jun 9, 2014 at 9:30 AM
  • Bill-Gross-PIMCO

    Opening Bell

    Opening Bell: 06.06.14

    Lawsky Said to Seek BNP Executive Dismissals in Probe (Bloomberg) New York’s top banking regulator Benjamin Lawsky is pressing BNP Paribas (BNP) SA to dismiss one of the bank’s top executives as part of settlement negotiations with the U.S. over alleged sanctions violations, according to a person familiar with the matter. Lawsky wants the bank […]

    / Jun 6, 2014 at 8:45 AM
  • Regis-Philbin

    Opening Bell

    Opening Bell: 06.05.14

    New York attorney general takes deep dive into ‘dark pools’ (Reuters) New York Attorney General Eric Schneiderman is seeking information from exchanges and alternative trading platforms about their relationships with high-frequency trading firms, as part of its probe into allegedly unfair trading practices on Wall Street, sources have previously told Reuters. Broker-run trading systems known […]

    / Jun 5, 2014 at 7:00 AM
  • grapefruit

    Opening Bell

    Opening Bell: 06.04.14

    Judge Rules in Favor of States in Suits Against S&P (WSJ) Standard & Poor’s Ratings Services lost a bid to combine more than a dozen state lawsuits filed in the aftermath of the financial crisis, with a U.S. federal judge ruling that the cases be dealt with separately in the state courts. “The State Cases […]

    / Jun 4, 2014 at 7:00 AM
  • philmickelson

    Opening Bell

    Opening Bell: 06.03.14

    Taste for Risk Fueled Career of Sports Bettor Billy Walters, Now in Trading Probe (WSJ) Mr. Walters once was a pool player and illegal bookie in Kentucky. “I was a bookmaker without a license,” he said in the 2007 interview. Moving to Nevada in the early 1980s, but retaining his Southern drawl, he became part […]

    / Jun 3, 2014 at 7:00 AM
  • Superfan

    Opening Bell

    Opening Bell: 05.30.14

    Ballmer’s $2 Billion Offer Said to Win Clippers Bidding (Bloomberg) Donald Sterling’s approval wasn’t needed as his wife completed the $2 billion sale of the Los Angeles Clippers to former Microsoft Corp. (MSFT) Chief Executive Officer Steve Ballmer, people familiar with the process said. Guidelines established in a family trust allowed for Shelly Sterling to […]

    / May 30, 2014 at 7:00 AM
  • Ackman

    Opening Bell

    Opening Bell: 05.29.14

    Ackman Plans Public Hedge Fund (Dealbook) While hedge funds typically raise funds privately, the founder of the $13 billion Pershing Square Capital Management is planning to tap the public stock market. Mr. Ackman is aiming to raise billions of dollars for a closed-end fund that could list on the London Stock Exchange as soon as […]

    / May 29, 2014 at 7:00 AM
  • fabricetourre

    Opening Bell

    Opening Bell: 05.28.14

    Ex-Goldman Sachs Trader Tourre Says He Won’t Appeal (Bloomberg) “While my lawyers have advised me there are strong grounds to appeal, I prefer to move forward with my education and close this difficult chapter of my life,” Tourre said in a statement today. “I look forward to finishing my Ph.D. in economics and to making […]

    / May 28, 2014 at 7:00 AM
  • tacos

    Opening Bell

    Opening Bell: 05.27.14

    BofA Error Confirmed by a Devil in the Detail (WSJ) A change in wording on Federal Reserve forms earlier this year helped Bank of America Corp. verify that it had made a $4 billion error in calculating its capital, according to a person familiar with the matter, jeopardizing its plans for a long-awaited stock buyback […]

    / May 27, 2014 at 7:00 AM
  • rob ford

    Opening Bell

    Opening Bell: 05.23.14

    Wall Street Bets on Bond Revival in Trader Hiring Spree (Bloomberg) Wall Street firms are starting to bet on an end to the profit-eroding boredom in credit markets by building out their trading desks. Nomura Holdings Inc. has added 10 to its U.S. corporate debt team this year, an increase of about 10 percent, and […]

    / May 23, 2014 at 6:45 AM

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