Thursday, June 14, 2012

Reuters: Regulatory News: PRESS DIGEST - Wall Street Journal - June 14

Reuters: Regulatory News
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PRESS DIGEST - Wall Street Journal - June 14
Jun 14th 2012, 05:54

June 14 | Thu Jun 14, 2012 1:54am EDT

June 14 (Reuters) - The following were the top stories in the Wall Street Journal on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

* U.S. lawmakers interrogated JP Morgan CEO Dimon in a much-anticipated and sometimes-heated exchange after the bank registered more than $2 billion in derivatives losses.

* Big money managers and Wall Street banks are laying the groundwork for a new marketplace for corporate bonds, an effort that highlights the heft of large investors and the impact of new rules limiting bank risk-taking.

In recent weeks, senior traders at investment managers and big Wall Street banks have been discussing how the financial industry can set up a centralized electronic market that would let all participants trade bonds freely with one another, according to people involved in the talks.

* Comcast Corp's NBC wrapped up its prime-time ad-sales deals for the coming TV season, negotiating slightly more money than it did last year despite continued weak-ratings performance.

The Peacock network took in about $1.8 billion in ad commitments in the so-called "upfront" ad market, up from roughly $1.7 billion in last year's upfront, according to a person familiar with the matter.

* An ex-partner of Dewey & LeBoeuf LLP has accused the former leaders of the bankrupt law firm, once one of New York's largest, of running a "Ponzi scheme" that used money invested by new partners to enrich themselves and others.

* England's Premier League, one of the world's most popular soccer organizations, said that two companies agreed to pay £3 billion ($4.67 billion) for the U.K. broadcasting rights to three years of live matches, 69% more than broadcasters paid for similar rights in 2009.

* Some investors are buying shares in developing economies again, encouraged by steps central banks from Brazil to China are taking to boost growth.

* Online video companies are ramping up their lobbying of lawmakers and regulators, but their adversaries-traditional cable-TV companies and Internet-service providers-have far deeper pockets on K Street.

* To combat a thriving black-market in greenbacks, Argentina's government has taken to deploying tax inspectors with dollar-sniffing dogs and widely publicizing its busts of street money changers.

* As Mitt Romney hops among battleground states to highlight U.S. economic woes, he keeps knocking against dissonant voices from his own side: Republican governors touting recent turnarounds.

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