Ex-H-P CEO Receives Job Ideas (WSJ)
Hurd told acquaintances this week that he has been approached with suggestions of new jobs, including a call about a new job the day after he left H-P. Mr. Hurd told acquaintances that he next wants to do something that he's "passionate" about. He didn't indicate who had approached him, but a person familiar with the situation said the calls have been from a range of companies, from publicly traded to private equity firms. Mr. Hurd, 53, also told these people that he's in a period of "mourning" about leaving H-P, likening his departure from the Palo Alto, Calif., technology giant to the end of a marriage or the death of a family member. "It's an emotional issue," he told these people.
London Finance Job Vacancies Climb 7% (Bloomberg)
The number of openings in the City, as London’s main financial district is known, rose to 6,048 in July from 5,645 in June, U.K. recruitment consultant Morgan McKinley said in a statement today. The number of people looking for work fell 16 percent in July, according to the survey.
George Soros Slashes Exposure To US Equities (Telegraph)
Gone are Soros's investments in Petrobras, Brazil's oil giant, with investments in bellwether stocks such as Wal-Mart, JP Morgan Chase and Pfizer drastically reduced, cut by 99pc, 97pc and 95pc respectively. Of those equities that do remain, the fund's holding in a gold exchange traded fund constitutes his largest investment, some 13pc of the equity portfolio, worth $638m.
Barclays Follows Citigroup With Court Rejection of U.S. Accord (Bloomberg)
A federal judge refused to endorse a settlement between the U.S. and a bank for a third time in a year, calling a proposed $298 million fine of Barclays Plc for trading with Iran, Cuba and Sudan “a sweetheart deal.”
'Vultures' Saved Troubled Homeowners (WSJ)
Anna and Charlie Reynolds of St. George, Utah, were worried about losing their home to foreclosure last year. Then they got a lucky break—from an unlikely savior. Selene Residential Mortgage Opportunity Fund, an investment fund managed by veteran mortgage-bond trader Lewis Ranieri, acquired the loan at a deep discount and renegotiated the terms with the Reynolds. The balance due was cut to $243,182 from $421,731, and the interest rate was lowered. That reduced the monthly payment to $1,573 from $3,464, allowing the family to stay in their home despite a drop in Mr. Reynolds' income as a real-estate agent. "It was a miracle," says Ms. Reynolds.
Dutch City Wants Pot Sold Only to Dutch Citizens (NYT)
City officials say they have watched with horror as a drug tolerance policy intended to keep Dutch youth safe — and established long before Europe’s borders became so porous — has morphed into something else entirely. Municipalities like Maastricht, in easy driving distance from Belgium, France and Germany, have become regional drug supply hubs.
'Economic Benefits' From Tighter Bank Regulation (WSJ)
"The analysis shows that the macroeconomic costs of implementing stronger standards are manageable, especially with appropriate phase-in arrangements, while the longer-term benefits to financial stability and more stable economic growth are substantial," FSB head Mario Draghi said in an accompanying press release.