Launch VideoHomepage >>>
Commentary by Adam Litke When Morgan Stanley released its earnings this October it immediately came under fire for shortening the historical period used in its VaR model from four years to one year and thus lowering its capital charges. Even though the firm explained that this change had been approved by its regulators some commentators were of the opinion that there was some chicanery afoot. During their earnings [...]
Edoma Partners LLP, the hedge fund started by former Goldman Sachs Group Inc. proprietary trader Pierre-Henri Flamand, plans to close after it lost money and assets shrank. “This is very disappointing for everyone concerned,” Flamand, 42, said in an emailed statement yesterday. “Considering the unprecedented market conditions, we felt the most responsible course of action was to return money to investors and cease investment [...]
Deutsche Bank AG would be required to hold more capital and Bank of America Corp.’s burden stands to be reduced as global regulators shuffled the competitive balance among the world’s biggest banks. Citigroup Inc., HSBC Holdings Plc and JPMorgan Chase & Co. join Deutsche Bank as firms that will be targeted for a capital surcharge of 2.5 [...]
Loans obtained in the U.S. by speculative-grade borrowers have risen to $233 billion, surpassing 2011 levels as investor demand for debt with the highest claims on a company’s assets grew amid fiscal uncertainty and a struggling global economy. Borrowers last month got more than $47 billion of the debt that was sold to non-bank lenders, such as CLO s [...]
After failing to strike deals for companies from Lions Gate Entertainment Corp. to Mentor Graphics Corp., Carl Icahn now must convince suitors that Netflix Inc. deserves one of the highest valuations in America. The billionaire investor disclosed this week that he took a 10 percent stake in Netflix, and said Amazon.com Inc. and Verizon Communications Inc. could [...]
