News on Wall Street

Tories vow to introduce banking tax

2010-03-20T13:15:33Z

<div><p>The Conservatives pledged Saturday to impose a US-style tax on banks to claw back money spent bailing them out, just weeks before a general election they are tipped to win.</p><p>"We had the biggest bank bail-out in the world. We can't just carry on as if nothing happened," said Conservative leader David Cameron, whose party is leading opinion polls ...

Obama urges Senate action on finance reform

2010-03-20T04:15:12Z

<div><p>US President Barack Obama on Saturday urged senators to pass a comprehensive overhaul of the US financial system that would include a new agency to protect consumers from Wall Street's excesses.</p><p>"These reforms are essential," Obama said in his weekly radio address.</p><p>"As I've u...

Once skeptical, Congress warms to CFTC's Gensler

2010-03-19T13:00:57Z

<div><p>WASHINGTON (Reuters) - Gary Gensler, who once supported market deregulation blamed for the recent financial meltdown, has been winning over members of Congress who had been skeptical of his ability to rein in Wall Street as the top U.S. futures r...

Senate to remove "backdoor bailouts" from bill

2010-03-19T09:30:18Z

<div><p>ORLANDO, Florida (Reuters) - The U.S. Senate Banking Committee will remove a provision from the financial reform bill that bank regulator Sheila Bair said cou...

London shares rise at open

2010-03-19T03:16:13Z

<div><p>Leading shares rose in opening deals on Friday, following strong overnight performances in Asia and mixed results on Wall Street.</p><p>The FTSE 100 index of top shares was up 0.32 percent at 5,660.44 points at the open.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=72050055&b...

Wall Street as bonus heaven

2010-03-19T02:18:11Z

<div id="subtitle">Tens of billions budgeted for bonuses while national unemployment rises</div><div><p> As reeling banks and other financial institutions reached out with one arm to accept hundreds of billions of dollars in bailout money from American taxpayers last year, they reached out with the other to give their workers billions of dollars in bonuses.</p><p>Despite the outrage expressed by people across the country, nothing could be done by the governmen...

TriQuint Semiconductor hikes 1Q forecast

2010-03-19T01:30:23Z

<div id="subtitle">Chip maker TriQuint Semiconductor hikes forecast for 1st-quarter earnings</div><div><p>TriQuint Semiconductor Inc., which provides chips for mobile gadgets such as Apple's iPhone, hiked its profit forecast for the quarter on Thursday, a sign that demand is improving.</p><p>The news pushed TriQuint shar...

PolyOne gives 1Q forecast above expectations

2010-03-18T15:15:47Z

<div id="subtitle">PolyOne gives 1st-quarter guidance above Wall Street expectations as auto demand improves</div><div><p>PolyOne Corp., which makes specialized plastics and resins for constructing buildings and vehicles, gave a first-quarter forecast well above Wall Street's expectations Thursday, sending shares up in after-hours trading.</p>&...

Govt rewarded bank auditors with big bonuses

2010-03-18T14:15:39Z

<div id="subtitle">As banks binged on risky mortgages, govt rewarded regulators with taxpayer-funded bonuses</div><div><p>As banks gambled on the risky mortgages that helped create the worst financial crisis in generations, the U.S. government handed out millions of dollars in bonuses to regulators at agencies that missed or ignored warning signs that the system was on the verge of a meltdown.</p><p>The...

AP Enterprise: NASA, cruise line got flu shots

2010-03-18T12:45:43Z

<div id="subtitle">AP Enterprise: Cruise line, NASA got swine flu shots early on; CDC says system worked well</div><div><p>Last fall, as swine flu cases mounted and parents desperately sought to protect their kids, the hard-to-get vaccine was handed out in some surprising places: the Wall Street firms and the Johnson Space Center.</p><p>There is no complete database of where every dose went. But partial records show that financial institutions and other surprising recipients sometimes got d...

Regional Fed presidents defend bank oversight role

2010-03-18T07:30:14Z

<div><p>WASHINGTON (Reuters) - Presidents of regional Federal Reserve banks on Thursday defended their role in supervising small banks, and said ending it would cut a link between the central bank and the national heartland.</p><p>"It is a travesty," SAN FRANCISCO (Reuters) - Nike Inc <NKE.N> posted a return to sales and profit growth on Wednesday and forecast higher expected orders around the world after a year of declines, sending its shares up more than 3 percent.</p><p>The largest global sports gear ma...

Financial Reform Bill Wins Mixed Praise

2010-03-17T00:16:40Z

<div id="subtitle">Consumer groups wanted more independence for consumer agency</div><div><p>Senate Banking Committee Chairman Sen. Christopher Dodd (D-CT) has unveiled his long-awaited financial reform bill, which walks a tightrope between the wishes of Wall Street and consumer groups. </p><p>The measure drew immed...

Chamber, Wall Street lobby seek to alter Dodd bill

2010-03-16T16:45:19Z

<div id="subtitle">Chamber, Wall Street lobbyists seek to alter Senate financial regulation bill</div><div><p>Financial institutions and their allies mobilized lobbyists and fueled their media campaigns Tuesday in a swift response to a Democratic plan to rein in Wall Street and protect consumers in their banking and borrowing transactions.</p><p>The Reuters) - Wall Street's biggest banks could be broken up by the Congress in the coming year in an eventual reckoning over the financial meltdown of 2008, "Liar's Poker" author Michael Lewis said on Tuesday.</p><p>Lewis, promoting his latest book "The Big Short: Inside the Doomsd...

How to safely buy Clean Energy Fuels

2010-03-15T19:15:19Z

<div id="subtitle">Technical analysis predicts a fresh entry point for this natural gas stock.</div><div><p>On Friday, Clean Energy Fuels (NASDAQ: CLNE, Stock Forum) broke out on an earnings related news release. Blink your eye and you missed it. So now what? Do we do what the master TV herder says we should, and just blindly buy buy buy? Or should we do what we here at All About Trends preach and that is to NOT CHASE BUSES, and instead let them come to us. </p><...

Stockhouse @ the Bell: Late day jump brings Dow into the green

2010-03-15T19:15:16Z

<div id="subtitle">Credit worries hurt markets across North America, although blue-chips staged a late-day turnaround on Wall Street.</div><div><p>Today on Stockhouse </p><p>Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here. </p><p>Matt Badiali explains ho...

Six imperatives for financial regulation: Summers

2010-03-12T22:45:09Z

<div><p>PALO ALTO, California (Reuters) - The United States should rethink domestic and global financial regulation, Lawrence Summers, director of the

2010-03-12T15:00:40Z

<div><p>NEW YORK (Reuters) - Author Michael Lewis, known for exposing the culture of excess at Solomon Brothers with his book "Liar's Poker," says Wall Street bonuses at banks bailed out by Washington are "a very elegant form of theft."</p>&l...