September 4th, 2010
Sina Finance YORK, Sept. 4 morning news, according to two sources familiar with the matter said the U.S. government to comply with new regulations designed to control risk, Goldman Sachs Group (GS) will close its
proprietary trading business Principal Strategies.
According to Bloomberg news agency reported, from the two anonymous sources, Goldman Sachs announced doesn’t plan to announce to close the department, and said the sector from 65 to 70 employees will find a new job. Sources said some of the sector traders and support staff may be other positions within Goldman Sachs, while the Asian market, a team may raise money to create a new hedge fund.
Goldman Sachs spokesman Ed – Cannady (Ed Canaday) said he could not comment on this news.
The so-called “
proprietary trading“, also known as “professional-style securities transaction” refers to the company’s recruitment of professional securities traders, traders with the company’s funds to buy and sell securities, and the company provided to traders with efficient, dedicated fiber optic cable lines and servers, and together with the perfect computer and software to enable electronic trading network through several instant access to the securities market.
According to the United States President Barack – Barack Obama (Barack Obama) in July this year signed legislation to officially “Dodd – Frank Act”, Goldman Sachs and other banks are prohibited from engaging in proprietary trading business.
According to the U.S. Davis Polk & Wardwell LLP proposed timetable shows that “Dodd – Frank Act” at least four years to allow banks to proprietary trading in line with the requirements of the Act, and may further extend up to three years. Under the bill, the so-called “Volcker rule” , banks will be allowed to hedge funds or private equity funds in the possession of up to 3% of the shares.
Tags: banks, Dodd - Frank Act, Goldman Sachs, GS, proprietary trading, spokesman, Volcker rule
Posted in United States |
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September 4th, 2010
Xinhua Houston, on Sept. 3 BP said the company's response to the Gulf of Mexico oil spill expenditure has risen to eight billion dollars.
BP said in a news release that day, this figure includes the cost of leakage response, relief well drilling costs, the cost of static off method, on the Gulf Coast states of subsidies and compensation costs, which totaled 399 million dollars of compensation Read More...
Tags: BP, Gulf, Houston, Mexico, oil spill
Posted in BP, Mexico |
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September 3rd, 2010
Russian Prime Minister Vladimir Putin on the 2nd meeting of the Bureau in the government, said on the issue of removal of food export ban at least until the end of next year's grain harvest to the discussion. This means that grain export ban will continue until at least next September.
Putin said, related issues, should clarify the situation next year's grain harvest, and after discussion, the position will not change Read More...
Tags: ban, export, grain, grain export, grain export ban, Putin, Russia
Posted in Russia |
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September 3rd, 2010
BP 1, submitted to Congress a report, the Gulf of Mexico oil spill occurred a few months, the company has spent five million U.S. dollars per week to advertise in order to restore the company's image.
British Petroleum in the U.S. House of Representatives Energy and Commerce Committee said the report, since the April 20 oil spill occurred to the end of July, the company's total advertising expenditure of 93 million U Read More...
Tags: advertising, BP, British Petroleum, oil, oil spill, the Gulf of Mexico oil spill
Posted in British, Mexico |
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September 3rd, 2010
European Central Bank (ECB) Thursday, as expected, the 16th consecutive month kept its benchmark interest rate at a record low of 1.0% unchanged; while maintaining the overnight lending rate and overnight deposit rates were 1.75% and 0.25% in the same.
EUR / USD days after the European market intraday high of 1 Read More...
Tags: ECB, EUR / USD, European, European Central Bank, France, GDP, interest rates, Spain
Posted in Europe |
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September 2nd, 2010
Organization of Petroleum Exporting Countries (OPEC) Secretariat published data 30, OPEC crudes average price last week fell to 70.88 U.S. dollars a barrel for the third straight week of decline.
Although last Wednesday, the OPEC oil price rebound, but the first two days of decline in oil prices, dragging down oil prices continue to decline OPEC week Read More...
Tags: oil, oil prices, OPEC, OPEC crudes average price, the OPEC oil price
Posted in OPEC |
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September 2nd, 2010
U.S. President Barack Obama on Sept. 1 at the White House since taking office for his first direct peace talks between Israel and Palestine to pave the way for peace talks suspended for nearly two years to bring a new situation, Obama said the Israeli and Palestinian leaders said that peace talks could progress has been made within one year Read More...
Tags: Israel, Obama, Palestine, peace talks, Presiden, White House
Posted in United States |
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September 2nd, 2010
U.S. Treasury Department report released on the 16th, following a substantial reduction in May compared with 32.5 billion U.S. dollars of U.S. Treasury bonds after the June re-reduction of 24 billion U.S. dollars in China's U.S. Treasury bonds. Thus, in the first half, China in March and April in addition to holdings of U Read More...
Tags: billion, Chinese, dollars, Foreign Exchange, Japan, Treasury, U.S. Treasury bonds
Posted in China, United States |
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September 1st, 2010
Sina Finance YORK, Wednesday morning news crude oil (72.44,0.52,0.72%), low-income futures Tuesday to restore the recent downtrend. Crude oil futures fell 8.9% in August, since May for the first down month since.
New York Mercantile Exchange, October crude futures fell 3.7%, closing at 71.92 U.S. dollars a barrel, oil prices began to accelerate in late fall Read More...
Tags: crude oil, Crude oil futures, Finance, Mercantile Exchange, YORK
Posted in New York |
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September 1st, 2010
[caption id="attachment_521" align="aligncenter" width="540" caption="New York gold futures rose 5.6% in August "][/caption]
Wednesday morning news of gold (1248.40, -1.90, -0.15%) futures closed higher Tuesday, but the Fed released minutes after the monetary policy, gold futures in the electronic trading system that down Read More...
Tags: electronic trading system, gold futures, New York, New York Mercantile Exchange
Posted in New York |
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