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Yellen Said to Be Obama?s Pick for Fed Vice Chairman Position
March 11 (Bloomberg) -- Federal Reserve Bank of San Francisco President Janet Yellen is President Barack Obamas pick for vice chairman of the central bank in Washington, two people with knowledge of the selection process said. The nomination is pendingmore
Turkey Sells $1 Billion of 11-Year Bonds in Overseas Markets
March 11 (Bloomberg) -- Turkey sold $1 billion of 11-year dollar bonds in its first test of investor demand since ending financing talks with the International Monetary Fund. Turkey sold the securities to yield 2.03 percentage points above U.S.more
Hedge Funds: Goldman's Flamand leaves to start his own fund
Story Quotes Comments Screener AlertEmail Print SAN FRANCISCO (MarketWatch) -- The head of a big proprietary-trading group at Goldman Sachs Group Inc. is leaving the investment bank to start his own hedge fund. Pierre-Henri Flamand, who ran Goldman'smore
Fed's Dudley: Waiting to fix fiscal problems risky
WASHINGTON (Reuters) - Governments must not put off addressing large debt burdens, because doing so could result in even greater fiscal problems down the road, a top U.S. Federal Reserve official said on Thursday. William Dudley, president of the Newmore
Japanese Stock Futures Rise on BOJ Speculation; Australia Gains
March 12 (Bloomberg) -- Japanese stock futures rose on speculation the central bank will loosen monetary policies and after the yen weakened. Australian shares gained. New York-traded securities of Nissan Motor Co., a carmaker that gets 77 percent of itsmore
Hedge Funds: Goldman's Flamand leaves to start his own fund
By Alistair Barr, MarketWatch SAN FRANCISCO (MarketWatch) -- The head of a big proprietary-trading group at Goldman Sachs Group Inc. is leaving the investment bank to start his own hedge fund. Pierre-Henri Flamand, who ran Goldman'smore
Junk Bonds Pull Ahead as TXU, Freescale Soar: Credit Markets
March 11 (Bloomberg) -- High-yield, high-risk bonds are beating investment-grade debt for the first time this year as confidence in the U.S. economic recovery gains strength. Speculative-grade securities have returned 1.93 percent this month, bringingmore
Fed emergency loans decline in past week
WASHINGTON -- Banks borrowed less from the Federal Reserve's emergency lending program over the past week, providing further evidence that the strains caused by the financial crisis are easing. The Fed reported that daily borrowing from its emergencymore
Stocks up for 3rd day; financial shares rise
NEW YORK - A rally in financial stocks Thursday helped the market extend its grind higher to a third day. The Standard & Poor's 500 index cleared an important hurdle watched by traders when it closed just above its January peak to set a new 17-monthmore
GMAC?s Chief Said to Get $9 Million Stock Compensation, No Cash
March 11 (Bloomberg) -- Michael Carpenter, GMAC Inc.?s chief executive officer, will get a 2010 pay package of about $9 million entirely in stock, and some or all won?t vest until later years, according to a person with direct knowledge of themore
U.S. Stocks Gain as S&P 500 Rallies to Highest Level Since 2008
March 11 (Bloomberg) -- U.S. stocks rose, sending the Standard & Poor?s 500 Index to the highest level since October 2008, as Citigroup Inc. led a bank rally and investors speculated that health-care reform will be harder to pass. Citigroup advancedmore
S&P 500 hits 17-month high as banks lift Wall St
NEW YORK (Reuters) - The S&P 500 hit a 17-month closing high as rising bank shares led a late rally that lifted stocks on Thursday, more than offsetting worries China may move to cool its overheating economy. Financial stocks added to recent sharp gains,more
Boutique boom fading as Wall St banks expand
By John Parry - Analysis NEW YORK (Reuters) - The window of opportunity is closing for boutique bond trading firms to make a killing from market turmoil as big Wall Street banks regain their footing and rehire staff. During the financial crisis and itsmore
U.S. Stocks Gain, Driving S&P 500 to Highest Level Since 2008
March 11 (Bloomberg) -- U.S. stocks rose, sending the Standard & Poors 500 Index to the highest level since October 2008, as Citigroup Inc. and Zions Bancorporation led a bank rally and investors speculated that health-care reform will be harder to pass.more
Europe and U.S. Quarrel Over Hedge Funds
The European Union on Thursday rebutted criticism by the United States of its plans to tighten the rules on hedge funds, even as Britain sought to water down the regulation to safeguard its own financial sector, The New York Times?s James Kantermore
Dow CEO: Don't Waste Nat Gas As Transport Fuel
Dow Chemical Chief Executive Andrew Liveris, in a speech at the CERAweek energy conference Thursday afternoon, laid out his position on trends in the energy industry. He said he favors government mandates on energy conservation, and lauded new naturalmore
CBOE files for IPO
nd-alone exchange crossed a milestone Thursday in its long-delayed effort to demutualize and launch an initial public offering. The Chicago Board Options Exchange has submitted S-1 and S-4 documents with the Securities and Exchange Commission for an IPOmore
U.S. Stocks Advance as Health-Care Companies, Banks Lead Rally
March 11 (Bloomberg) -- U.S. stocks rose, reversing earlier losses, as Citigroup Inc. and Zions Bancorporation led a bank rally and investors speculated that health-care reform will be harder to pass. Citigroup advanced 4.6 percent as Chief Executivemore
Stocks recover in late trade
Hot Stocks Dow 30 The Dow Jones industrial average (INDU) added 20 points with about 15 minutes left in the session. The S&P 500 index (SPX) also added a few points. Both ended the previous session at 6-week highs. The Nasdaq composite (COMP) gained 3more
Goldman's Flamand to start own hedge fund: report
SAN FRANCISCO (MarketWatch) -- The head of Goldman Sachs Group Inc.'s largest hedge fund, Pierre-Henri Flamand, is leaving to start his own fund, Bloomberg News reported Thursday, citing three unidentified sources close to the matter. Flamand, 39,more
U.S. Economy: Trade Deficit Unexpectedly Shrinks (Correct)
(Corrects household wealth in seventh paragraph.) March 11 (Bloomberg) -- The trade deficit in the U.S. unexpectedly narrowed in January as imports fell for the first time in five months, indicating demand is cooling following the fastest pace of growthmore
The E.U. and U.S. Quarrel Over Hedge Funds
BRUSSELS The European Union on Thursday rebutted criticism by the United States of its plans to tighten the rules on hedge funds, even as Britain sought to water down the regulation to safeguard its own financial sector. The trans-Atlantic dispute brokemore
Stocks trade flat after inflation jumps in China
NEW YORK - The stock market traded in a tight range for a fourth day Thursday after China reported a jump in inflation. Mixed U.S. economic news also held stocks back. China said its inflation rate rose to 2.7 percent in February from 1.5 percent inmore
Most U.S. Stocks Decline on Speculation China Will Boost Rates
March 11 (Bloomberg) -- Most U.S. stocks fell as higher- than-estimated inflation in China spurred speculation the nation will be forced to raise interest rates while technology companies and banks rallied. Deere & Co. and AK Steel Holding Corp. fell atmore