Deutsche Bank Said to Pay $2.14 Billion in Libor Case (Bloomberg)
New York’s Department of Financial Services also may install a monitor at the bank to oversee its compliance with the settlements to be announced as soon as today according to the person, who asked not to be identified because the talks were private. The Frankfurt-based firm said Wednesday it will log 1.5 billion euros in litigation costs in the first quarter.
Trader’s Arrest Raises Concerns About Market Rigging (Dealbook)
In the criminal complaint filed against a British trader on Tuesday, prosecutors said that a trading strategy known as spoofing was used to manipulate prices and helped lead to the 2010 “flash crash,” in which the biggest markets in the United States were thrown into disarray in minutes...Long before this week’s case, however, spoofing was one of the most contentious — and according to some analysts, most common — ways for some high-frequency trading firms to manipulate stock prices. Traders using the technique look to make money by buying and selling securities in seconds, sometimes milliseconds. A trader involved in spoofing puts in orders with the intention of moving the price of a financial asset — in the flash crash case, it was a futures contract betting on the direction of the Standard & Poor’s 500-stock index. When the price moves, that trader quickly cancels the orders and takes advantage of the price change.
Day Trader in Leather Jacket Far Cry From Wall Street Flash Boy (Bloomberg)
Navinder Singh Sarao always stood out among the day traders sweating it out for small change. Everybody noticed the lanky Londoner when he removed his leather jacket, snapped on noise-reduction headphones and took a seat in front of his three screens. Not because “Nav,” as he was known, made a scene -- a fellow trader called him distant. The 30 or so who toiled in the nondescript building in a southwest London suburb watched his every move because he did what they desperately wished they could: make a pot of money.
Greek crisis talks as Tsipras, Merkel meet (CNBC)
Just one day ahead of a crucial meeting of euro zone finance ministers, Greek Prime Minister Alexis Tsipras is due to meet German Chancellor Angela Merkel to discuss Greece's ongoing solvency crisis. A spokesperson for the German government confirmed to CNBC that the pair were due to have a "private discussion" in Brussels Thursday, but that the meeting was not officially scheduled.
Brit Arrested After Urinating In Florida Hotel Ice Machine (HP)
A British man vacationing in Orlando, Florida, got a chance to tour the local jail after he allegedly urinated in the ice machine at his hotel. Andrew Wood, 41, was arrested early Tuesday morning after a security officer at the Hard Rock Hotel reported a very intoxicated man in the lobby. The security guard told police he had seen Wood whizzing into the ice machine, but said the suspect refused several times to identify himself or the room...The guard gave Wood the option of staying in his room for the night, the suspect refused, which is when the police were called. Responding officers said Wood smelled of alcohol and kept making random outbursts, according to the Orlando Sentinel.
American Activist Investors Take Another Charge at Europe (WSJ)
American activist investors are taking another charge at Europe, a market that has been notably unkind to U.S. funds that campaign for change at large corporations. There has been a resurgence of activity this year from funds trying to force through changes at publicly traded companies in Europe, with 22 such campaigns in the first quarter, according to data provider Activist Insight. There were 39 in all of 2014. Six of the instigators in the first quarter this year were U.S.-based, compared with 18 for all of last year.
Two shareholders sue American Apparel over CEO's ouster (Reuters)
Two American Apparel (APP.A) shareholders have filed a lawsuit against the clothing and accessories retailer, alleging its founder and former Chief Executive Dov Charney was fired because he refused to sell the company. Some shareholders, including Charney, who voted at an annual meeting on June 18 last year were not aware the CEO was under investigation for misconduct, which amounted to a proxy fraud as he was suspended later that day, complainants Jan Hubner and Eric Ribner alleged in the petition.
Facebook will be decider in 2016 election: Analyst (CNBC)
Facebook is all about connecting people—and that includes the 2016 presidential candidates, the chief investment officer of Tigress Asset Management said Thursday. "I think the most interesting thing about the upcoming presidential election—that will be won by the candidate with the best Facebook strategy," Ivan Feinseth told CNBC's "Squawk Box."
Hamptons Million-Dollar Homes Bolster Real Estate Sales (Bloomberg)
The median price of all Hamptons homes that sold in the three months through March was $920,500, up 4.6 percent from a year earlier, brokerage Douglas Elliman Real Estate and appraiser Miller Samuel Inc. said in a report Thursday. Transactions rose 2.5 percent to 541, led by an increase in deals in the $1 million to $5 million range. “That’s the bread and butter of the newer product in the Hamptons,” said Jonathan Miller, president of Miller Samuel and a Bloomberg View contributor. “Wall Street is part of this, as well as the foreign buyers.”
Steven Cohen, others pledge $250,000 each to pro-Christie super PAC (WaPo)
Several donors, including billionaire hedge fund manager Steven Cohen, each pledged to give $250,000 to the group, called America Leads, after attending a dinner with Christie at Manhattan's 21 Club, according to two people familiar with the event.
New York's 'noisiest lovers' revealed (Daily Mail)
The lovers who got the most complaints in New York City for loud sex are a handyman and the girlfriend he pops round for quickies within the building where he works. The 25-year-old boytoy is the lover, of a Dominican woman in her late 30s, who invites him round for romps around her entire apartment in Brooklyn. The apartment block was named in a league table of complaints made to New York authorities about loud sex...One complaint said woman was screaming 'Oh yeah, oh, do it to me' and frustrated neighbor said today: 'I can hear them all over the apartment'