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United States/Americas

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.
Europe

Ex-hedge fund chief Micalizzi loses appeal against UK ban, fine
By Reuters
07/30/2014 4:09:20 PM ET

LONDON (Reuters)—The Italian former head of defunct UK hedge fund Dynamic Decisions on Wednesday [July 30] lost his appeal against a multi-million pound fine and a ban from holding any role in Britain's financial sector. A court in London said former chief executive and university lecturer Alberto Micalizzi had "deliberately misrepresented" to investors the position of the DD Growth Premium Master Fund, worth $437 million in 2008 before collapsing the same year.
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.
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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