Credit Event Ruling Sought for Bank of Ireland
07/08/2011 5:28:53 PM ET
DUBLIN (Reuters)—The International Swaps and Derivatives Association was asked on Friday [July 8] if a restructuring credit event occurred in relation to Bank of Ireland. A credit event is financial industry jargon for default on payment, breach of bond covenants or other event that casts doubt on an issuer's ability to service its debt.
Goldman Shuts DBS Partners After Margin Call
07/08/2011 5:22:49 PM ET
CHICAGO (Reuters)—DBS Partners, one of the biggest market makers in S&P 500 Index options, was shut after failing to meet a margin call from Goldman Sachs, according to people familiar with the situation. Goldman, DBS's clearing firm at the Chicago Board Options Exchange, auctioned off part of DBS's position on July 1.
Ex-Hedge Fund Manager Settles Trading Violation
07/08/2011 5:17:37 PM ET
EDITOR'S NOTE: This story has been updated throughout. BOSTON (Reuters)—Former hedge fund manager Forrest Fontana, who once worked for industry titan Steven A.
Greenlight Sells Yahoo Stake After Alipay Dispute
07/08/2011 3:27:38 PM ET
EDITOR'S NOTE: This story has been updated throughout. SAN FRANCISCO (Reuters)—Greenlight Capital chief David Einhorn unloaded his stake in Yahoo Inc.
Hedge Funds Lag Behind Broader Market in First Half
07/08/2011 3:15:57 PM ET
BOSTON (Reuters)—Hedge funds eked out tiny gains during the first half of the year but lagged far behind the broader stock market, data released on Friday [July 8] show. According to performance and flows tracker Hedge Fund Research, the average hedge fund inched up 0.
U.S. SEC Urged to Go Slow on Global Accounting Move
07/08/2011 2:53:59 PM ET
NEW YORK (Reuters)—The United States should move towards use of international accounting standards but must not rush the process, business representatives and accountants told the Securities and Exchange Commission on Thursday [July 7]. If the U.
Italy Bears Brunt of Peripheral Pressure, Bunds Soar
07/08/2011 2:20:17 PM ET
LONDON (Reuters)—Investors looking to bet against the euro zone's lower-rated states turned their fire on Italy on Friday [July 8], pushing bond yields to euro-era highs and igniting concerns about the long-term cost of financing the region's most indebted country. As Italy bore the brunt of the market's negative outlook on euro zone's debt crisis, the flight into safe haven assets was boosted by well below-forecast jobs data from the U.
Visteon Faces Breakup Pressure as Stock Lags
07/08/2011 1:03:48 PM ET
NEW YORK/DETROIT (Reuters)—A Visteon Corp. hedge fund shareholder that will get two board seats soon has been pushing to break up the U.S. auto parts supplier, betting the company has more value in pieces than as a whole, people close to the situation said.
