New Hire Roundup: OppenheimerFunds Makes 3 Senior Hires
The PCAOB announced its new chief hearing officer, and Capstone Financial Group has hired Steve Lee to spearhead advisor recruitment and coaching.
Eurozone Data Indicate ‘New Recession’: Markit
Factories saw demand fall and countries saw unemployment rise from July through September as Markit Economics said the activity—or, rather, lack of it—indicated a “new recession.”
Standard Chartered to Pay $340M Over Iran Laundering Allegations
The settlement resolves an investigation into whether the British bank schemed with the Iranian government to launder $250 billion from 2001 to 2007.
New York Regulator Threatens to Suspend Standard Chartered Over Iran Dealings
The New York Department of Financial Services has warned the British bank Standard Chartered that it could be suspended from doing business in the state over charges that it violated money-laundering laws in dealings with institutions in Iran that are subject to U.S. economic sanctions.
Southern Eurozone’s Woes Simmer On
Despite a weekend bailout for Spain’s banking sector that was meant to reassure investors, markets continued to punish the southern eurozone.
Investors Say No to Greek Bond Restructuring
Investors holding Greek sovereign debt issued under foreign laws and denominated in dollars, euros, Swiss francs and yen said no to a Greek restructuring plan, leaving the country to find another way through its debt maze as it seeks to avoid outright financial collapse.
Ireland to Use Bond, Not Cash, to Make Payment
Ireland will make a scheduled payment of 3.1 billion euros to the Irish Bank Resolution Corp. at the end of March with a bond, not with bailout cash.
Metals & Markets Showing Further Divergence
In recent weeks, the prices of key metals have fallen sharply from recent highs; meanwhile, major stock indexes have moved up nicely.
China Inflation Rate Is Fastest in Three Years
China's inflation rate for July hit 6.5%, its highest in three years, despite Beijing's best efforts to control it through required reserves for its banks and increased interest rates—five just since October.