TABLE OF CONTENTS
March 2006
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FRIDAY MARCH 31
Australia Accuses Citigroup of Insider Trading
Regulators are investigating irregular share trading and conflicts of interest while Citigroup advised a large Australian takeover deal
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FRIDAY MARCH 31
Thanks, Iran: Oil Prices Up
The price of crude oil broke $67 for the first time in two months on Thursday, when Iran refused to halt uranium enrichment
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FRIDAY MARCH 31
Wanted by FBI: GA Fund Manager
The FBI recently released mug shots of Kirk Wright, the head of scandal-ridden International Management Associates
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THURSDAY MARCH 30
Revised U.S. GDP Up 1.7% in Q4
Thursday's Commerce Department report says the real U.S. GDP grew at a 1.7 percent annualized rate in the fourth quarter
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THURSDAY MARCH 30
Nasdaq Drops LSE Bid
Nasdaq dropped its 2.4 billion pound bid for the LSE on Thursday, reserving the right to make another bid within the next six months
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THURSDAY MARCH 30
Nasdaq Hits Five-Year High
Google shot up 4.7 percent and Apple surged 6.2 percent yesterday as investors rallied around tech stocks
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THURSDAY MARCH 30
Silver Hits 23-Year High
Precious metals are cleaning up with silver surging 58 percent over the past year
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WEDNESDAY MARCH 29
Steaming Hot Tim Hortons
The Canadian coffee king says its underwriters have scooped up an additional 4.35 million shares in anticipation of its IPO
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WEDNESDAY MARCH 29
Bennett Faces Austrian Warrant
Vienna's chief prosecutor is investigation allegations that the former Refco CEO helped defraud Austria's Bawag Bank
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WEDNESDAY MARCH 29
Fed Meeting: No Surprises
Markets quivered yesterday when Ben Bernanke announced yet another increase of the federal funds rate to 4.75 percent
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TUESDAY MARCH 28
Jabre to Fight FSA Fine
Philippe Jabre plans to appeal his $750,000 FSA fine for alleged insider trading
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TUESDAY MARCH 28
Japanese Stocks To Go Up Again?
Hedge fund managers say that, despite last month's decline, Japanese stocks should resume their rally
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TUESDAY MARCH 28
New Chief of Staff: A Wall Street Man
Budget Director Joshua Bolten will replace Andy Card as President Bush's chief of staff effective April 14
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TUESDAY MARCH 28
The Silver Lining
It turns out Bill Gates and Warren Buffet hold considerable positions in silver, which soared Monday
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MONDAY MARCH 27
All Eyes on Bernanke
Investors anxiously await the outcome of the new Fed Chief's first monetary policy meeting, which may end in another rate hike
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MONDAY MARCH 27
What's So Sweet About Sugar?
The best-performing commodity around may beat bonds, stocks and oil for a second straight year
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MONDAY MARCH 27
SAC Faces $4 Billion Lawsuit
Shareholders of Biovail have filed suit against SAC Capital and others for a "massive, illegal and continuing stock market manipulation scheme"
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FRIDAY MARCH 24
A Sign of the Times in Japan
Nikko Cordial may become the first Japanese securities firm to acquire a commercial bank, signaling more mergers to come
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FRIDAY MARCH 24
Google to S&P
Google will be added to the S&P 500 Index after the close of trading on March 31, becoming the highest priced stock among index members
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FRIDAY MARCH 24
February Home Sales Surge
Sales of existing homes increased 5.2 percent last month. Is the housing market may be stronger than some experts suggested?
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FRIDAY MARCH 24
Advantages of Nasdaq-LSE Merger?
Many skeptics are wondering what benefits would come from the rumored Nasdaq-LSE merger
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THURSDAY MARCH 23
Schonfeld to Launch Fund
By
Rich Blake
The Schonfeld Group makes its foray into the hedge fund world with a new vehicle with two strategies: long/short technology and event-driven arbitrage
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THURSDAY MARCH 23
Refco Creditors Take On Bennett
Refco creditors are trying to prevent Phillip Bennett from using a $10 million insurance policy to fund his legal costs
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THURSDAY MARCH 23
Refco Creditors Take On Bennett
Refco creditors are trying to prevent Phillip Bennett from using a $10 million insurance policy to fund his legal costs
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THURSDAY MARCH 23
Merrill Tries to Stop Broker-Stealing
Merrill Lynch has obtained a temporary restraining order against former executive James Gorman
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THURSDAY MARCH 23
Lee Leaves Thomas H. Lee Partners
Thomas H. Lee stepped down from his eponymous firm yesterday and will no longer hold an interest in the firm's future funds
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THURSDAY MARCH 23
AMEX IPO?
The Wall Street Journal reports that AMEX plans to become a for-profit company by next year and may be considering an IPO
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WEDNESDAY MARCH 22
Bill Gates Disappoints
Tech stocks took a hit Wednesday after Microsoft announced a launch delay for Vista, the next version of Windows
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WEDNESDAY MARCH 22
Morgan Stanley Profit: Up and Away
First-quarter net income rose 17 percent at the Wall Street giant, thanks in part to fixed-income trading
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WEDNESDAY MARCH 22
Bernanke Comments a Downer
All major indexes closed lower Tuesday, after the new Fed chief indicated he would continue raising interest rates
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WEDNESDAY MARCH 22
Squawk Box Fallout
The SEC has charged 14 Wall Streeters with allowing day traders to eavesdrop on big brokerage orders
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TUESDAY MARCH 21
Quattrone Gets Retrial
The obstruction-of-justice ruling against the infamous investment banker was overturned in federal appeals courts
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TUESDAY MARCH 21
Reopen the NYSE Can o' Worms
Dick Grasso's recent silence suggests he knew more about the late '90s flipping and profit-sharing scandal than he's let on
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TUESDAY MARCH 21
Oil Hits Seven-Month Low
Easing tensions abroad, plus big stockpiles, have prompted crude oil prices to fall
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MONDAY MARCH 20
Long Ice Caps
"Think of these carbon contracts as call options on new clean-air regulation"
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MONDAY MARCH 20
Clearing Traders
Duke Energy trader Brian Lavielle was recently cleared of charges that he cooked the books to inflate his bonus
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MONDAY MARCH 20
What Will Bernanke Say?
Markets opened strong again, but investors are waiting anxiously to hear the Fed Chairman's interest-rate remarks on Monday night
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MONDAY MARCH 20
Executive Pay: A Bad Omen?
The growth in executive pay slowed down considerably in 2005, a warning sign that may signal economic trouble ahead
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MONDAY MARCH 20
Soros Takes Hollywood
DreamWorks will sell its blockbuster film library to a group run by George Soros and Dune Entertainment
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MONDAY MARCH 20
Judge: Liquidate Refco Capital Markets
Bankruptcy judge Robert Drain issued a preliminary ruling last week, prompting creditors to talk about consensual liquidation plans
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FRIDAY MARCH 17
NYSE, SEC Pursue Bear "Fraud Case"
Wall Street regulators say they will go after Bear Stears execs in $250 million market-timing probe
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THURSDAY MARCH 16
Hedge Funds Hit New Highs
According to The Daily Telegraph, hedge funds now manage more than $1,500 billion of money worldwide, $300 billion of which is in European funds
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THURSDAY MARCH 16
GM In Tailspin
The troubled automaker reports accounting irregularities and a restated, inflated 2005 loss: $10.6 billion
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THURSDAY MARCH 16
Lehman Reports Record Quarterly Profit
Lehman Brothers Holdings' first quarter profits topped $1 billion while stock trading and investment banking revenues hit new highs
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THURSDAY MARCH 16
Mixed Economic Reports
The government reports that consumer prices rose in February, easing concerns about inflation, yet construction of new homes slowed
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THURSDAY MARCH 16
Euronext, Deutsche Borse To Merge?
Euronext and Deutsche Borse have begun to discuss a merger that would create the world's largest market for futures and options trading
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WEDNESDAY MARCH 15
Hedgies Settle PIPE Charges
Three hedge funds have agreed to pay $15.8 million to settle the SEC's charges of "naked" short-selling
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WEDNESDAY MARCH 15
Refco: Worse Than We Thought?
New investigations show that Refco held offshore accounts with as much as $525 million in fake bonds
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WEDNESDAY MARCH 15
Wall Street Strikes Gold(man)
The Dow reached levels unseen since 2001 on Tuesday, when Goldman Sachs reported a staggering quarterly profit
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TUESDAY MARCH 14
Treasury Takes a Step Back
The U.S. Treasury Department is studying hedge funds and derivatives to determine what risks they may pose to financial markets
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TUESDAY MARCH 14
LSE Shares Spike
Shares of the London Stock Exchange hit a record $19.88 following news of Nasdaq's interest in buying the institution
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TUESDAY MARCH 14
Nymex Approves General Atlantic Deal
Members voted Monday to sell a 10-percent stake to the small investment shop for $160 million
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TUESDAY MARCH 14
SEC Imposes $2.5 M Email Fine
Merrill Lynch was slapped with a cease-and-desist order for bungling the delivery of important archived emails
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MONDAY MARCH 13
Goldman, Morgan Stanley Rake It In
Several Wall Street banks appear on course to set new earnings records for the first quarter of 2006
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FRIDAY MARCH 10
Trade Deficit Swells
President Bush faces more strife as the U.S. trade deficit hits $68.5 billion, thanks in large part to China
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FRIDAY MARCH 10
Job Growth Exceeds Forecasts
Employers added 243,000 jobs in February, but unemployment edged up to 4.8 percent and inflation concerns persist
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FRIDAY MARCH 10
Big Board Stock Wilts
The NYSE stock price tumbled nearly 5 percent on Thursday, one day after the exchange went public
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THURSDAY MARCH 09
Goldmine Sachs?
Traders and bankers from Goldman Sachs dominate some of the most influential posts in Europe
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THURSDAY MARCH 09
And You Thought Malcolm Glazer Was Controversial
The new owner of the cash-strapped Portsmouth Football Club says he earned his millions in finance, but authorities are curious
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THURSDAY MARCH 09
Fit and Proper?
The fallout over the FSA's plans to approve toilers in the wholesale financial markets
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THURSDAY MARCH 09
Rustagi's Fall From Grace
The 26-year-old Deutsche trader dismissed for overstating profits was a "Leader in Making"
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THURSDAY MARCH 09
$241,000 Stripclub Tab Settled
Former Savvis executive Robert McCormick reportedly charged the gross sum to his corporate American Express in 2003
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THURSDAY MARCH 09
Do Women Make Better Traders?
A new gender study suggests that women trade less, but do better on average, because they are more likely to buy and hold
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THURSDAY MARCH 09
Bernanke's Next Big Challenge
Long-term interest rates, quiet for a year, have jumped roughly 20 basis points in the past two weeks
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THURSDAY MARCH 09
Public Consternation
Traders express concern about their future on the NYSE's first day as a for-profit, public company
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WEDNESDAY MARCH 08
Google's Mistake
Google inadvertently disclosed a dated revenue forecast on its Web site yesterday, causing shares to tumble
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WEDNESDAY MARCH 08
Real Estate Hedge Funds Emerging
Several investors have begun raising money for real estate-focused hedge funds
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WEDNESDAY MARCH 08
NYSE Makes Public Debut
Shares of the newly public NYSE Group begin trading amidst debate about whether the stock will rise or if an increase in value has already occurred
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WEDNESDAY MARCH 08
Fastow Takes the Stand
The star government witness and former Enron CFO testified that his bosses encouraged him to misrepresent the company's earnings
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TUESDAY MARCH 07
Stewart's Stockbroker's Second Act
Martha Stewart's former stockbroker has taken out a home equity line of credit on his town house and made a foray into advertising
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TUESDAY MARCH 07
London Pension Scheme Eyes Commodities
A local government pension scheme in London is considering whether to invest a portion of its portfolio in commodities
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TUESDAY MARCH 07
Hedge Fund Veteran to Lead New Lobby Group
Jim Chanos will head a group designed to educate policymakers about hedge funds's role in the investment community
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TUESDAY MARCH 07
ICE Threatens Nymex Sale
The New York Post reports that Intercontinental Exchange last week made a bid for Nymex that could have doubled General Atlantic's offer
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MONDAY MARCH 06
Bond Prices Tumble
The bond market is bracing for what could be another tough week
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MONDAY MARCH 06
NYSE Diversifies Derivatives
John Thain wants to broaden the NYSE's product mix through derivatives and link with European exchanges
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MONDAY MARCH 06
Big Board Buying Spree
On the brink of its Archipelago merger, the NYSE is looking to scoop up other exchanges
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FRIDAY MARCH 03
Refco Creditors Target Banks
Thursday's bankruptcy-court filing says the eight Refco underwriters either knew of the fraud or failed to look hard enough
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FRIDAY MARCH 03
Intel Chops Forecast
Citing disappointing demand, the semiconductor manufacturer has reduced its Q1 revenue projection by $400 million
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FRIDAY MARCH 03
Google: Up, Up and Away?
In an effort to calm investors, CEO Eric Schmidt said Google aims to become a $100 billion company
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THURSDAY MARCH 02
Trading Chief Fingers Skilling
David Delainey, former head of Enron's wholesale and retail units, testified that the CEO purposely deceived investors
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WEDNESDAY MARCH 01
Google Suffers Biggest Intrday Loss
The Internet stock fell 14 percent throughout the day and closed at $362.62 during a bad day on Wall Street
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WEDNESDAY DECEMBER 07
CA Home Prices: Up, Up, Up
Despite signs of a slowing real estate market elsewhere in the U.S., Silicon Valley prices continue to rise sharply
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WEDNESDAY OCTOBER 12
No Stopping Schaeffer
Nymex vice chairman Richard Schaeffer appears a lock to take over as chairman of its streamlined board of directors
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