Fed's Lacker says disappointed in U.S. recovery
Reuters
The U.S. economy is recovering only slowly and growth could remain soft for some time as employers remain reticent about hiring, Richmond Federal Reserve Bank President Jeffrey Lacker said on Monday.
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Dubai to meet potential bond investors on June 13-14
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SEC Moves To Prevent Swap-Market Confusion In July
By Jamila Trindle and Jessica Holzer Of DOW JONES NEWSWIRES
The Securities and Exchange Commission moved to prevent confusion in the $600 trillion over-the-counter derivatives market next month when several new rules are set to take effect even though regulators haven't finished work on other parts of a vast new regulatory regime for derivatives.
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Too Big to Fail, or Too Trifling for Oversight?
By ERIC DASH and JULIE CRESWELL, NY Times
But over the last several months, executives from more than two dozen financial companies and their trade groups have paraded into the Treasury Department, the Federal Reserve and other government agencies to try to persuade top regulators that they are not large or risky enough to threaten the financial system if they should ever collapse.
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Banks battle over US tax law
By Tom Braithwaite in Washington, Vanessa Houlder in London, Nikki Tait in Brussels and James Wilson in Frankfurt, Financial Times
Banks and foreign governments are mounting an increasingly desperate push against a sweeping US tax law that will force overseas institutions to report their American clients to the Internal Revenue Service.
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Fed expanding capital tests for US banks
Reuters
The Federal Reserve plans to expand the number of banks it will subject to annual tests used to determine if stock dividends can be increased and whether an institution is holding enough capital. On Friday the Fed said it is proposing that banks with $50 billion or more in assets be subjected to the capital testing regime as well.
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The eurozone heads for break up
Nouriel Roubini
Financial Times
The muddle-through approach to the eurozone crisis has failed to resolve the fundamental problems of economic and competitiveness divergence within the union. If this continues the euro will move towards disorderly debt workouts, and eventually a break-up of the monetary union itself, as some of the weaker members crash out.
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In praise of Stanley Fischer
By Mohamed El-Erian
Financial Times
Based on professional qualifications and cultural fit, Stanley Fischer is the perfect candidate for managing director of the IMF. He would likely prevail in an open, transparent and merit-based selection process. The question is whether European attempts to preclude this can still be overcome by countries that care about the legitimacy of the institution and the beneficial role it should play in the global economy.
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Goldman joins disclosure fight over Lehman claims
Nick Brown - Reuters
Goldman Sachs Group Inc and other banks fighting for control of Lehman Brothers Holdings Inc's bankruptcy have joined efforts to avoid sharing information about claims against the failed investment bank.
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Deutsche Bank's Chief Casts a Long Shadow in Europe
International Herald Tribune
Josef Ackermann, chief executive of Europe's largest bank, emerged from the 2008 financial crisis with deep influence on the Continent's financial future.
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UBS: Average adviser hitting million-dlr by 2014
Jennifer Hoyt - Market Watch
The Americas brokerage arm for UBS AG (UBS, UBSN.VX) expects its average adviser to become a $1 million producer sooner than the company previously anticipated, a top executive said Thursday.
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Morgan Stanley Trades as Though 'Worth More Dead,' Bernstein's Hintz Says
Bloomberg
Morgan Stanley (MS) , owner of the world's largest brokerage, could shut down its trading businesses and the firm would be worth 28 percent more than yesterday's share price, according to Brad Hintz, a Sanford C. Bernstein & Co. analyst.
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Lazard Hires Structured Credit Advisory Team
Business Wire
LONDON--(BUSINESS WIRE)--Lazard Ltd (NYSE:LAZ) today announced the hire of an experienced team of senior credit professionals to broaden the firm's Capital Structure Advisory business, effective immediately. Led in Europe by Managing Director Alan Patterson, the Structured Credit Advisory team brings a broad range of complementary skills in structured credit products and credit derivatives ...
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