LATEST NEWS : JPMorgan in talks to buy Argentine holdout bonds, among other options: DJ

JPMorgan is discussing the possibility of buying Argentina’s sovereign debt from a group of dissident bondholders, Dow Jones reported on Thursday, citing sources familiar with the matter. The South American nation is fighting a court decision that determined it must treat all bondholders the same, despite a massive restructuring agreement stemming from its default more than a decade […]

Continue reading

IMF Sees Business-Loan Losses of EU250 Billion in EU Banks

“Banks in Spain, Italy and Portugal face about 250 billion euros ($338 billion) in potential losses on their business loans over the next two years, the International Monetary Fund said. About one-fifth of combined corporate loans is at risk of default in the three economies, which are forecast to contract this year, according to the […]

Continue reading

How the Bank Lobby Loosened U.S. Reins on Derivatives

“One by one, Gary Gensler’s supporters deserted him. Now the chief U.S. regulator of derivatives was being summoned by Treasury Secretary Jacob J. Lew to explain why he refused to compromise. Banks and lawmakers, as well as financial regulators from around the world, had besieged Lew with complaints about Gensler’s campaign to impose U.S. rules […]

Continue reading

Germans Hide Cash in Diapers as Swiss Secrecy Crumbles

“Germans who avoided taxes by keeping money in Switzerland are bringing wads of cash home and hiding it in odd places. With Swiss banks the target of an international crackdown against tax evasion, the government wants the industry to stop managing undeclared funds. This requirement, combined with high-profile cases such as Bayern Munich President Uli […]

Continue reading

Currency Spikes at 4 P.M. in London Provide Rigging Clues

“In the space of 20 minutes on the last Friday in June, the value of the U.S. dollar jumped 0.57 percent against its Canadian counterpart, the biggest move in a month. Within an hour, two-thirds of that gain had melted away. The same pattern — a sudden surge minutes before 4 p.m. in London on […]

Continue reading

Gold Investors Seek Alpine Haven in Swiss Army Bunkers

The week after Cyprus said in March it would impose a levy on bank deposits of more than 100,000 euros ($132,000) amid Europe’s debt crisis, Rene Buchwalder’s business boomed. “This bar is one of the best sellers,” said the former UBS AG (UBSN) banker, standing in the vault of his Swiss gold and silver trading […]

Continue reading

Americans Giving Up Passports Jump Sixfold as Tougher Rules Loom

“Americans renouncing U.S. citizenship surged sixfold in the second quarter from a year earlier as the government prepares to introduce tougher asset-disclosure rules. Expatriates giving up their nationality at U.S. embassies climbed to 1,131 in the three months through June from 189 in the year-earlier period, according to Federal Register figures published today. That brought […]

Continue reading

Swaps Probe Finds Banks Rigged Rate at Expense of Retirees

“U.S. investigators uncovered evidence that banks reaped millions of dollars in trading profits at the expense of companies and pension funds by manipulating a benchmark for interest-rate derivatives. Recorded telephone calls and e-mails reviewed by the Commodity Futures Trading Commission show that traders at Wall Street banks instructed ICAP Plc brokers in Jersey City, New […]

Continue reading