S

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House hunters spending more to get less: BMO survey | Toronto Star

Detached homes have simply become too expensive, and some 76 per cent of buyers surveyed fear the condo market is overdeveloped and too risky an …

As factories die, income gap grows

READING, Pa. — In August 2008, factory workers David and Barbara Ludwig treated themselves to new cars — David a Dodge pickup, Barbara a sporty Mazda 3. With David making $22 an hour and Barbara $19, they could easily afford the payments<p>A month later, Baldwin Hardware, a unit of Stanley Black & …

U.S. defending the indefensible in Iraq

<i>Watch "Fareed Zakaria GPS," Sundays at 10 a.m. and 1 p.m. ET on CNN</i><p>If the Bush administration deserves a fair share of blame for “losing Iraq,” what about the Obama administration and its decision to withdraw all American forces from the country by the end of 2011?<p>I would have preferred to see a …

The 7 Strategies For Getting Past Gatekeepers

Do you know how many people approach me every week with article pitches? Neither do I, but the number is huge. However, this salesman—a first-time author—managed to use the strategies in his book to get successfully through to me, a busy CEO with a part-time unpaid gig writing articles about …

Marijuana boom spawns ancillary businesses

Ben Wu took a six-figure pay cut when he left a career in private equity for a shot at the marijuana boom.<p>Trained to spot small businesses with big potential, he started this year as chief executive of Kush Bottles, a Santa Ana company that sells child-resistant plastic cannabis containers.<p>It took …

Minimum wage hike won't help many workers in S.F.

Image 1of/2<p>Caption<p>Close<p>A proposal to increase San Francisco's minimum wage, already the highest in the nation, won't do much to close the income gap …

Income Inequality

Kirsty Bertarelli interview: Britain's richest woman goes pop

Extraordinary things happen to Kirsty Bertarelli’s pretty face when you ask her about her wealth. A moment previously she’d been chatting animatedly but, as soon as I mention money, her translucent eyes narrow, her high cheekbones tense, her full lips quiver. Her hands shake slightly as she grasps …

Enhancing Our Equity Market Structure

Regulating high frequency trading

The interest here is not simply around the novelty of 21st century technology (as important as this is) it’s also in the link between speed, market …

This Is The Moment Wall Street Should've Known The Feds Were Sick Of Its Shenanigans

Reports indicate that over the next few weeks it faces a $10 billion fine and criminal charges for doing business with in sanctioned countries such as Iran.<p>Wall Street should've seen this coming.<p>Back in March, Preet Bharara, the U.S. district attorney for New York known for taking down some big …

Corruption

High-Speed Trading Rules Coming From SEC, White Says

U.S. Securities and Exchange Commission Chair Mary Jo White unveiled the regulator’s most sweeping plan yet for reining in high-frequency trading and …

HFT Debate Evolves

The debate about high-frequency trading is evolving beyond the histrionics of a few months ago to a more balanced and measured debate that could …

More layoffs could be in the works on Wall Street

With the new strictures related to the Dodd-Frank financial regulation reforms, US banks are having a tough time ringing up the sorts of profits to which they have been accustomed. That’s particularly true in trading. As a result, the Wall Street Journal reports (paywall), banks are considering …

Markets

Dark Pool Not Dark Enough in SEC Enforcement Complaint

Liquidnet Holdings Inc., one of the biggest independent dark pool operators, agreed to pay a $2 million fine for failing to live up to client secrecy …

SEC Will Keep Thinking About High Frequency Trading

Securities and Exchange Chair Mary Jo White gave a big speech today about market structure and high frequency trading in which she said that the SEC …

Citadel Builds Swaps Unit to Repeat Market-Making Triumph

Ken Griffin, the billionaire hedge-fund manager who’s captured almost 20 percent of trading in equity options through his market-making business, is …

Farewell to the fat cat: how bankers got trim

As bankers make it to the top ten most physically active professions, Olivia Goldhill looks at the world of competitive muscle-building, and how one of the most pressurised jobs lost its fat cat image<p>There are some men, powerful men, who wear their bulging waistlines with pride. Success stories of …

Credit Suisse

Banking as a career

<i>News last week that TSB, a British bank, would cap the pay of its chief executive at no more than 65 times the average of non-managerial TSB staff</i> …

All Everyone's Talking About Is How Boring Everything Is

The hottest topic in the market is ... boredom.<p>Seriously, very little is happening in markets, so that's what people are talking about.<p>This was the title of a recent Morgan Stanley research report:<p>And to quantify the boredom, people are pointing to the VIX, which is an index that attempts to …

Stock Markets

Trading scandals, legal fines may ramp up U.S. banks' capital needs | Reuters

NEW YORK (Reuters) - Large U.S. banks are finding the billions of dollars they paid in recent years to settle lawsuits and fix broken businesses are coming back to haunt them in another place: their capital requirements.<p>People walk inside JP Morgan headquarters in New York, October 25, 2013. …

The Feds Are Coming For Wall Street's Dark Pools

The Wall Street Journal reports that the SEC is going to look into some of Wall Street's biggest dark pools — opaque, private exchanges that investors use to trade more covertly.<p>Basically, the Feds want to know if the exchanges are treating every investor and every trade equally — not giving …

Wall Street

Currency Carry Trades Rise in ECB’s Negative-Rate World

Mario Draghi is becoming one of currency traders’ few friends.<p>With the $5.3 trillion-a-day foreign-exchange market poised to deliver its worst …

The VIX Is Not A Great Way to Measure Complacency

Because this story tends to be told more often when things are doing better than average (bubbles, complacency) than when they're doing worse than …

US banks are elbowing their European competitors out of the bond-trading business

So uncertain is the global economy’s outlook that investors are losing their appetites for fixed-income trading—and the slew of US banks that broker those bets are losing revenue. But as bad as the epic decline in fixed-income trading has been for them, it’s the European banks that are really …

Credit Suisse

Trillion-Dollar M&A Quarter Makes a Return for Better or Worse

The $1 trillion M&A quarter, not seen since before the global financial crisis, is back.<p>Global deal volume this quarter is $992 billion, according to …

UBS falls on $8 billion estimate in FX fine research report

By Jamie McGeever and Katharina Bart<p>ZURICH/LONDON June 12 (Reuters) - UBS shares fell on Thursday following a research report which said the Swiss …

As Traders Vanish, Here’s One Way to Fix FX

While George Osborne wants to make manipulating currencies benchmarks a criminal offense, the industry’s already working on other possible solutions to the problem of potential market rigging, especially around the so-called fix. One aim: take fallible human traders at banks out of the equation.