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United States/Americas

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.
Europe

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.
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.
Asia/Australia

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.
Japanese hedge fund challenges regulators in insider trade case
By Reuters
07/28/2014 2:06:30 PM ET

TOKYO (Reuters)—A small Japanese hedge fund has made a rare challenge against financial regulators over a 2010 insider trading case, disputing a finding that one of its fund managers acted on an insider tip of a share offering by energy firm Inpex Corp. The Securities and Exchange Surveillance Commission (SESC) previously found a fund manager at Stats Investment Management sold Inpex shares on insider information from a Nomura Securities salesman, based on the salesman's admission of providing information to Stats as well as to Nissay Asset Management and Finno Wave Investments.
International

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.
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.






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