Opening Bell

  • o

    Opening Bell

    Opening Bell: 02.26.14

    Billionaire Paulson Said in Talks to Buy Puerto Rico Resort (Bloomberg) Paulson & Co. is seeking to acquire La Concha Resort and the Condado Vanderbilt, neighboring beachfront hotels in the capital city of San Juan, according to two people with knowledge of the transaction. The firm will pay about $200 million for the properties, in […]

    / Feb 26, 2014 at 7:00 AM
  • henry-kravis-kkr

    Opening Bell

    Opening Bell: 02.25.14

    Total Haul for KKR Co-Founders Is $327 Million for Banner Year in 2013 (WSJ) The total haul for Mr. Kravis was about $161.4 million, a sum that includes dividends, payouts from the firm’s funds and compensation such as salary and the use of personal assistants, according to KKR’s full-year financial statement filed publicly Monday. Mr. […]

    / Feb 25, 2014 at 7:00 AM
  • robford

    Opening Bell

    Opening Bell: 02.21.14

    J.P. Morgan Holder Pulls Independent-Chair Proposal (WSJ) A J.P. Morgan Chase & Co. shareholder has pulled a proposal calling for the largest U.S. bank to split the chairman and chief executive posts held since 2006 by James Dimon. A small Toledo philanthropic organization called The Needmor Fund had backed the nonbinding resolution asking J.P. Morgan […]

    / Feb 21, 2014 at 7:00 AM
  • markzuckerbergoffice

    Opening Bell

    Opening Bell: 02.20.14

    Zuckerberg Bonded With WhatsApp’s Koum Over Coffee and Chocolate (Bloomberg) The relationship between Facebook Inc. and WhatsApp Inc. started in spring 2012 over coffee at a German bakery. It was consummated on Valentine’s Day with chocolate-covered strawberries, after just five days of talks…Mark Zuckerberg, Facebook’s chief executive officer, first reached out to WhatsApp CEO Jan […]

    / Feb 20, 2014 at 7:00 AM
  • nicolaus-copernicus

    Opening Bell

    Opening Bell: 02.19.14

    Fed adopts tough capital rules for foreign banks (Reuters) The Federal Reserve on Tuesday adopted tight new rules for foreign banks to shield the U.S. taxpayer from costly bailouts, ceding only minor concessions despite pressure from abroad to weaken the rule. Foreign banks with sizable operations on Wall Street such as Deutsche Bank and Barclays […]

    / Feb 19, 2014 at 7:00 AM
  • meatcounter

    Opening Bell

    Opening Bell: 02.18.14

    FX Traders Facing Extinction as Computers Replace Humans (Bloomberg) Electronic dealing, which accounted for 66 percent of all currency transactions in 2013 and 20 percent in 2001, will increase to 76 percent within five years, according to Aite Group LLC, a Boston-based consulting firm that reviewed Bank for International Settlements data. About 81 percent of […]

    / Feb 18, 2014 at 7:00 AM
  • robertbenmosche

    Opening Bell

    Opening Bell: 02.14.14

    Banks in London Devise Way Around Europe’s Bonus Rules (Dealbook) …the bank giants operating in London — including Goldman Sachs, Bank of America Merrill Lynch and Barclays — are seeking to outflank the new restrictions. Responding to the law, they are structuring new pay packages that try to satisfy both their emboldened regulators and their […]

    / Feb 14, 2014 at 7:00 AM
  • skyatsardis

    Opening Bell

    Opening Bell: 02.13.14

    Comcast Said to Agree to $44 Billion Time Warner Cable Deal (Bloomberg) Comcast Corp. agreed to acquire Time Warner Cable Inc. for about $44 billion, combining the largest two U.S. cable companies in an all-stock deal, according to four people familiar with matter. Philadelphia-based Comcast is paying about $159 a share in the transaction set […]

    / Feb 13, 2014 at 7:00 AM
  • Lucy,_a_Rat_Terrier

    Opening Bell

    Opening Bell: 02.12.14

    Hackers Launch Attacks on Bitcoin Exchanges (WSJ) Slovenia-based Bitstamp said it halted customer withdrawals to deal with the issue. BTC-e, a bitcoin exchange based in Bulgaria, said it was experiencing delays in crediting certain transactions. During such outages, some trading can continue, but customers aren’t able to gain access to their money. Both exchanges described […]

    / Feb 12, 2014 at 7:00 AM
  • freddythegreatdane

    Opening Bell

    Opening Bell: 02.11.14

    JPMorgan’s $13 Billion Accord Seen Needing Court Review (Bloomberg) JP Morgan Chase’s $13 billion fraud settlement with the U.S. government should be blocked until a court is able to review it, a Wall Street watchdog group founded by an Atlanta hedge fund manager said. Better Markets Inc. is seeking judicial scrutiny of the accord because […]

    / Feb 11, 2014 at 7:00 AM
  • shialabeoufpaperbag

    Opening Bell

    Opening Bell: 02.10.14

    SAC’s Martoma Faces Up to 20 Years at June 10 Sentencing (Bloomberg) Martoma, 39, was convicted of two counts of securities fraud, which carries a maximum 20 year term, and one count of conspiracy, which has a maximum five year term. U.S. District Judge Paul Gardephe may make each term concurrent, and has latitude to […]

    / Feb 10, 2014 at 7:00 AM
  • Rob Ford

    Opening Bell

    Opening Bell: 02.07.14

    Ackman naming names in new attack on Herbalife (NYP) The hedge-fund activist called out a second high-level Herbalife distributor on Thursday for alleged actions he claims create the company’s pyramid scheme. The distributor, Doran Andry, a 22-year Herbalife distributor and member of the Chairman’s Club, “victimized thousands of recruits,” Ackman’s hedge fund, Pershing Square, claimed […]

    / Feb 7, 2014 at 7:00 AM
  • Brady-Dougan1-260x377

    Opening Bell

    Opening Bell: 02.06.14

    Credit Suisse Misses Profit Forecast (WSJ) Even as it generally seeks to shed assets, Credit Suisse disclosed 6.9 billion francs ($7.6 billion) in additional, operational risk-related assets newly tacked onto its balance sheet as a buffer against possible future litigation costs and other matters. The bank said the add-on resulted from discussions throughout 2013 with […]

    / Feb 6, 2014 at 9:30 AM

    Opening Bell

    Opening Bell: 02.05.14

    Bill Gross Says He Avoids China ‘Mystery Meat’ (Bloomberg) “I call China the mystery meat of emerging-market countries,” Gross said yesterday during an interview on Bloomberg Television’s “Market Makers” with Erik Schatzker and Stephanie Ruhle. “Nobody knows what’s there and there’s a little bit of bologna, so we’re just going to have to wonder going […]

    / Feb 5, 2014 at 7:00 AM
  • buffett

    Opening Bell

    Opening Bell: 02.04.14

    U.S. Banks Eased Lending Standards in Late 2013 (WSJ) Banks generally eased their lending policies for commercial and industrial loans in the fourth quarter, citing increased competition and less uncertainty about the economy, according to the Fed’s quarterly survey of senior bank loan officers. Anglo Irish executives blamed for Irish banking crisis go on trial […]

    / Feb 4, 2014 at 7:00 AM
  • Joe Namath

    Opening Bell

    Opening Bell: 02.03.14

    Rate Decision to Drive Yellen’s Early Agenda (WSJ) Among Ms. Yellen’s most critical decisions is when to start lifting interest rates. If she and her colleagues wait too long, they could fuel high inflation or financial bubbles; if they move too soon, they could damp a recovery that is just gaining steam. Key to that […]

    / Feb 3, 2014 at 7:00 AM
  • 10248702_h19685109

    Opening Bell

    Opening Bell: 01.31.14

    Wall Street Pays $70 Million Tab for Super Bowl in Its Backyard (Bloomberg) The National Football League’s championship is a home game for the shapers of the nation’s economy, with 11 of 29 host sponsors coming from the financial services industry. The event is costing $70 million to stage, as much as five times last […]

    / Jan 31, 2014 at 12:43 PM
  • Bitcoins

    Opening Bell

    Opening Bell: 01.30.14

    Bitcoin Needs Tighter Rules Than Banks, Say Prosecutors (Bloomberg) “Without stronger government oversight, we are allowing cybercriminals, identity thieves, traffickers of child pornography, and other malevolent actors to operate in a digital Wild West,” Cyrus Vance Jr., the district attorney for Manhattan, said at a hearing yesterday about possible state regulation of digital currencies. Gray […]

    / Jan 30, 2014 at 7:00 AM
  • winkelvosstwins

    Opening Bell

    Opening Bell: 01.29.14

    U.S. Banks Steer Clear of Sensitive Customers (WSJ) JP Morgan Chase & Co. has jettisoned more than 2,000 customers since the New York bank last year decided to reduce its exposure to businesses that could add to its long list of regulatory problems, according to a person familiar with the bank’s operations. Among other things, […]

    / Jan 29, 2014 at 7:00 AM
  • BBQFestivalBeefRibs

    Opening Bell

    Opening Bell: 01.28.14

    Perkins Apologizes for Comparing Attacks on Rich to Holocaust (Bloomberg, earlier) Venture capital pioneer Tom Perkins apologized for comparing today’s treatment of wealthy Americans to the persecution of Jews in Nazi Germany, though he said he stood by his message around class warfare. “I’d deeply apologize to you and anyone who has mistaken my reference […]

    / Jan 28, 2014 at 7:00 AM
  • 10248702_h19685109

    Opening Bell

    Opening Bell: 01.27.14

    ICAP Poised to Lose Central Role in Helping Setting Benchmark Rate (WSJ) Market officials plan as soon as Monday to alter the methodology used daily to calculate the benchmark, known as ISDAfix, cutting London-based ICAP out of its longtime role in helping calculate it, according to people familiar with the decision. The International Swaps and […]

    / Jan 27, 2014 at 7:00 AM
  • jamiedimon

    Opening Bell

    Opening Bell: 01.24.14

    Fined Billions, Bank Approves Raise for Chief (Dealbook) JPMorgan’s board voted this week to increase Mr. Dimon’s annual compensation for 2013, hashing out the pay package after a series of meetings that turned heated at times, according to several executives briefed on the matter. The raise — the details were not made public on Thursday […]

    / Jan 24, 2014 at 7:00 AM
  • Bill-Gross-001

    Opening Bell

    Opening Bell: 01.23.14

    Pimco’s Bill Gross Seeks Push Beyond Bonds (WSJ) A day after his partner at the top of Pacific Investment Management Co. stepped down, Bill Gross said he wants to double down on its efforts to turn into much more than a bond shop. His goal: to reduce the giant asset manager’s reliance on bonds and […]

    / Jan 23, 2014 at 9:30 AM
  • magnumclub

    Opening Bell

    Opening Bell: 01.22.14

    Banks Sit Out Riskier Deals (WSJ) Starting late last summer, the Office of the Comptroller of the Currency and the Federal Reserve sent letters to about a dozen big banks saying they need to comply with the guidance—regulators’ latest effort to reduce risk in the banking industry following the financial crisis. The new push could […]

    / Jan 22, 2014 at 7:00 AM
  • geithner

    Opening Bell

    Opening Bell: 01.21.14

    IMF Raises Global Outlook as Advanced Nations Accelerate (Bloomberg) The International Monetary Fund raised its forecast for global growth this year as expansions in the U.S. and U.K. accelerate, and urged advanced economies to maintain monetary accommodation to strengthen the recovery. The global economy will grow 3.7 percent this year, compared with an October estimate […]

    / Jan 21, 2014 at 9:30 AM
  • jamesgormanmorganstanleytradingfloor-260x143

    Opening Bell

    Opening Bell: 01.17.14

    Morgan Stanley Surpasses Estimates on Record Brokerage Earnings (Bloomberg) Morgan Stanley, owner of the world’s largest brokerage, reported profit that beat analysts’ estimates as equity-trading revenue increased and earnings from wealth management climbed to a record. Fourth-quarter net income fell to $181 million, or 7 cents a share, from $594 million, or 29 cents, a […]

    / Jan 17, 2014 at 9:28 AM
  • GaryCohnLloydBlankfeinGoldmanSachs

    Opening Bell

    Opening Bell: 01.16.14

    Goldman Exceeds Estimates on Stock Underwriting, Pay Costs (Bloomberg) Goldman Sachs, the Wall Street bank with the highest return on equity, reported earnings that beat analysts’ estimates as equity-underwriting fees doubled and full-year compensation costs fell to the second-lowest percent of revenue since the firm went public in 1999. Fourth-quarter net income dropped 19 percent […]

    / Jan 16, 2014 at 9:27 AM
  • Kanye West at Paris Fashion Week

    Opening Bell

    Opening Bell: 01.15.14

    How legal marijuana could be the next great American industry (CNBC) For now, mass cannabis production and scalable business models aren’t as vigorous as they could be because marijuana remains illegal under federal law. Banks and credit card companies are prohibited from processing pot business transactions, according to federal rules. But working within state guidelines, […]

    / Jan 15, 2014 at 7:00 AM

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