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DAILY NEWS

Argentine debt talks down to the wire to avert default
By Reuters
07/30/2014 3:34:39 PM ET

BUENOS AIRES/NEW YORK (Reuters)—Argentina was in a race against time on Wednesday [July 30] to cut a deal by the end of the day with holdout investors suing it and avert a default, as a surge in the country's bond prices fed optimism that an agreement was possible. The South American country's economy minister, Axel Kicillof, picked his way through a scrum of journalists to enter the offices of court-appointed mediator Daniel Pollack in New York, with just hours to go until the deadline for an interest payment passed.
Upstart trading venue IEX may prompt US market rule change
By Reuters
07/30/2014 11:59:02 AM ET

NEW YORK (Reuters)—U.S regulators may relax rules that require the fastest possible execution of securities trades, potentially helping upstart trading venue IEX Group's plans to become a full-fledged stock exchange.
Argentina's euro bondholders ask U.S. judge to suspend debt ruling
By Reuters
07/29/2014 6:11:36 PM ET

NEW YORK/BUENOS AIRES (Reuters)—Holders of Argentina's euro-denominated exchange bonds urged a U.S. judge on Tuesday [July 29] to suspend a debt ruling in favor of holdout investors suing the country that risks toppling Latin America's No.
U.S. judge says SEC can't seek $1.4 billion from Texas' Wylys
By Reuters
07/29/2014 6:03:39 PM ET

NEW YORK (Reuters)—A U.S. judge on Tuesday [July 29] ruled that a securities regulator cannot seek as much as $1.4 billion in damages from Texas tycoon Sam Wyly and his late brother Charles' estate for their role in a fraudulent offshore scheme.
N.Y. regulator wants monitors in Deutsche Bank, Barclays
By Reuters
07/29/2014 5:52:44 PM ET

NEW YORK (Reuters)—New York's banking regulator is seeking to place government monitors in the U.S. offices of Deutsche Bank AG and Barclays Plc as part of its investigation into the foreign-exchange market, a person familiar with the matter said.
As Argentina stares down deadline, one group will make default call
By Reuters
07/29/2014 5:37:23 PM ET

BUENOS AIRES (Reuters)—As Argentina's options run out as the clock ticks down to the deadline before a default, attention is turning to the committee that makes the "official" call on such matters – even though that call is really only for the benefit of those investors who bought insurance in case of non-payment. Argentina is out of legal options to avoid paying a court-ordered $1.
Casablanca triumphs in proxy battle with U.S.-based miner Cliffs
By Reuters
07/29/2014 2:24:28 PM ET

CLEVELAND (Reuters)—Casablanca Capital triumphed on Tuesday [July 29] in its proxy battle with miner Cliffs Natural Resources Inc., preliminary estimates show, putting the hedge fund in a position to replace Cliffs' chief executive and sell off underperforming assets.
U.S. regulators looking into UBS, Deutsche Bank speed trading operations
By Reuters
07/29/2014 1:41:54 PM ET

FRANKFURT/ZURICH (Reuters)—Germany's Deutsche Bank and Switzerland's UBS said they were caught up in an inquiry by U.S. regulators, who are looking into whether broker-run stock exchanges gave an unfair advantage to high-frequency traders.
Herbalife cuts sales outlook, shares slide 10.5 percent
By Reuters
07/28/2014 6:28:11 PM ET

LOS ANGELES (Reuters)—Herbalife Ltd., a maker of weight-loss and nutritional products, cut its sales outlook for the year after raising it three months earlier, sending its shares down 10.
Argentina debtholders offer to waive clause: report
By Reuters
07/28/2014 5:00:18 PM ET

NEW YORK (Reuters)—A group of Argentina's creditors holding "restructured" debt have offered to waive a clause that would help the country avoid a default, the Financial Times reported on Monday[July 28], citing unnamed sources. The FT reported that holders of more than $4 billion of Argentina's discount and par eurobonds sent a letter to Daniel Pollack, the court-appointed mediator in the Argentina debt talks, offering to speed the settlement talks.
Ex-Harbinger COO settles SEC claims he aided fraud
By Reuters
07/28/2014 4:26:11 PM ET

NEW YORK (Reuters)—The former chief operating officer of Philip Falcone's hedge fund Harbinger Capital Partners has agreed to pay $200,000 to resolve charges he aided a scheme to misappropriate fund assets, the U.S.
Lloyds not off hook yet after $370 million LIBOR fines
By Reuters
07/28/2014 3:54:56 PM ET

LONDON (Reuters)—Lloyds Banking Group could face further punishment after agreeing to pay fines totaling $370 million for its part in a global interest rate rigging scandal and for attempting to manipulate fees for a government lending scheme to help banks. The settlement is the seventh joint penalty handed out by American and British regulators in connection with the attempted manipulation of the London Interbank Offered Rate, or LIBOR, and other similar benchmarks used to price around $450 trillion of financial products worldwide.
Argentina to hold last-gasp debt talks with mediator Tuesday
By Reuters
07/28/2014 1:45:44 PM ET

BUENOS AIRES/NEW YORK (Reuters)—Argentina on Tuesday [July 29] will meet the U.S. mediator in its battle with 'holdout' debt investors suing the country for last-minute talks to avert its second default this century.
Investors dump higher oil bets as prices fall: ICE
By Reuters
07/28/2014 1:30:15 PM ET

LONDON (Reuters)—Hedge funds and other large speculators cut their bets on higher Brent crude oil and gasoil sharply in the week to July 22, IntercontinentalExchange Inc. said on Monday [July 28], following a big fall in prices.
Puerto Rico creditor group gains $180 billion in new muscle
By Reuters
07/25/2014 5:24:20 PM ET

NEW YORK (Reuters)—A group of hedge funds supporting debt restructuring efforts in Puerto Rico has gained 14 new members, bringing the group's total assets under management to $240 billion, a spokesman for the group said on Friday [July 25]. The group of 18 has $4.
U.S. SEC official defends Royal Bank of Scotland waiver to Congress
By Reuters
07/25/2014 11:27:06 AM ET

WASHINGTON (Reuters)—A top U.S. Securities and Exchange Commission official on Thursday [July 24] defended his agency's decision to grant the Royal Bank of Scotland a regulatory waiver, saying the bank had already been punished in connection with LIBOR manipulation.
Citadel founder Kenneth Griffin seeks to divorce wife
By Reuters
07/24/2014 5:15:19 PM ET

BOSTON (Reuters)—Billionaire investor Kenneth Griffin, who oversees $20 billion at hedge fund Citadel LLC, filed for divorce from his wife citing "irreconcilable differences," according to court filings seen by Reuters on Thursday [July 24]. Griffin, 45, has been married to Anne Dias Griffin, 43, for 11 years and the couple have three young children.
Barclays files to dismiss New York lawsuit against 'dark pool'
By Reuters
07/24/2014 2:18:37 PM ET

NEW YORK/LONDON (Reuters)—Barclays Plc urged the dismissal on Thursday [July 24] of a lawsuit from the New York attorney general alleging the bank lied to clients about its high-speed trading venue, saying the complaint had "fatal flaws" because Barclays' customers were never misled. The bank's motion to dismiss the lawsuit against its private trading venue – or "dark pool" – said the attorney general failed to identify any fraud, and did not establish material misstatements, identify victims or actual harm.
Republican lawmaker to grill U.S. SEC over Ackman tactics
By Reuters
07/24/2014 1:42:56 PM ET

WASHINGTON (Reuters)—A U.S. lawmaker will pressure the U.S. Securities and Exchange Commission on Thursday [July 24] to consider a raft of reforms, after William Ackman's aggressive efforts to take over Allergan Inc.
Renaissance funds perform well, firm closes London office
By Reuters
07/24/2014 12:32:53 PM ET

BOSTON (Reuters)—Two funds at Renaissance Technologies, one of the world's biggest hedge funds, are performing better than the average hedge fund, but the company has stopped selling them in Europe because local marketing rules have been tightened. The Renaissance Institutional Equities and Institutional Futures funds, known as RIEF and RIFF, returned 2.






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