Inside these posts: Wall Street

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Wall St. ‘fear gauge’ jumps 30% on Japan crisis

The CBOE Volatility Index , Wall Street’s fear gauge, shot up nearly 30 percent Wednesday, its biggest daily percentage move since May, as major U.S. stock indexes turned negative for the year due to mounting concerns about Japan’s nuclear crisis.

The market fell for a third day Wednesday but investors grew overly concerned as the fear gauge rose above the psychologically significantly level of 30 for the first time since July. Get the full story »

Average Wall Street bonus falls to $128,530

Wall Street workers may be feeling a little leaner. That’s because cash bonuses fell nearly 8 percent last year, according to New York State Comptroller Thomas DiNapoli. Bonuses paid to New York City workers in the financial securities industry fell to $20.8 billion in 2010. That’s a one-third drop in the bonus pool from 2007, before the financial crisis, DiNapoli said. Get the full story »

JPMorgan CEO Jamie Dimon gets $17M bonus

J.P. Morgan Chase & Co. Chief Executive Jamie Dimon received a 2010 equity bonus worth $17 million, the biggest bonus for a big name Wall Streeter so far this year. Though the equity bonus is similar to the prior year’s award, it still tops those so far given out to Dimon’s banking peers. Get the full story »

Anixter’s 4Q profit more than doubles

Shares of Glenview-based Anixter International Inc. jumped Tuesday after the company said its fourth-quarter profit more than doubled, easily topping Wall Street analysts’ expectations.

The stock rose $3.90, or 6.2 percent, to $67.17 in late trading. Get the full story »

CME sees jump in swaps clearing later this year

CME Group, which began clearing interest-rate swaps in October, expects a jump in business this year after a U.S. legislative mandate on clearing goes into effect, a CME executive said on Monday. Get the full story »

GM up after high marks from Wall Street

General Motors shares rose as much as 2.5 percent in midday trading on Tuesday after banks resumed coverage of the automaker with high marks for its North American sales and position in emerging markets.

The positive ratings by Wall Street come just six weeks after GM returned to the New York Stock Exchange in the largest initial public offering in history — about $23.1 billion. Its high was $35.99, reached on its first day of trading November 18. Get the full story »

Kroger fuels supermarket sector price war jitters

Kroger Co. cut some prices in its latest quarter, fueling worries that the slow U.S. economic recovery will cause another flare-up in the supermarket industry’s intense and profit-denting price war. Get the full story »

U.S. judge closes part of Goldman secrets trial

A U.S. judge closed to the public parts of testimony in the trial of a former computer programmer accused of stealing secret high-frequency trading code from Goldman Sachs Group Inc.

U.S. District Judge Denise Cote said from the bench on Thursday that she was granting a government application to seal parts of testimony of three witnesses, all of them employees at Wall Street’s most influential bank.

Prosecutors allege that programmer Sergey Aleynikov stole critical parts of Goldman’s top-secret high-frequency trading program in June 2009 before going to a new job with Teza Technologies LLC, a speed-trading start-up firm in Chicago. Get the full story »

Banking giants leaned heavily on Fed in crisis

Goldman Sachs CEO Lloyd Blankfein testifies before a Senate investigative committee on Capitol Hill, April 27, 2010. (Jim Watson/AFP/Getty Images)

Goldman Sachs, Citigroup and other big U.S. banks repeatedly sought help from the Federal Reserve during the financial crisis, according to data on Wednesday that showed just how precarious their situation was at the time.

Many of the firms now boasting solid profits had to rely on funding from the U.S. central bank, which essentially acted as the glue holding the financial system together in the tumultuous months that followed the bankruptcy of Lehman Brothers in September 2008.

Citigroup, Morgan Stanley and Merrill Lynch, now part of Bank of America, were the three biggest recipients of the Fed’s key emergency lending programs, according to a Reuters analysis of Fed data. Goldman Sachs was sixth on the list, contradicting claims from its top executives that the firm always had plenty of cash on hand. Get the full story »

HighTower adds New York Morgan Stanley team

A team of Morgan Stanley Smith Barney brokers in northern New York state, the Morgia Group, last week joined HighTower Advisors, a Chicago firm that is adding veteran advisers across the United States. Get the full story »

Wall Street slides on euro-debt woes

Commodity-related shares led U.S. stocks lower on Friday in a shortened post-holiday session as investors unloaded risky assets on worries that euro-zone debt problems may spread.

Consumer stocks were also a major focus as Black Friday, often the biggest shopping day of the year, began what is expected to be the strongest holiday shopping season in three years.
Get the full story »

Report: Wall Street firms find Volcker loophole

U.S. banks have found a way to continue betting their own money on some investments, despite a new law’s restrictions on proprietary trading, the Financial Times reported on Thursday, citing Wall Street executives. Get the full story »

Viacom to get rid of Rock Band

Viacom plans to rid itself of Harmonix, the video game developer behind the Rock Band franchise, ending a failed foray into the gaming business.

Shares of Viacom rose more than 4 percent in morning trading on Thursday as the company reported quarterly results that topped Wall Street expectations.

Analysts had long questioned the value of Rock Band for a company known more for its cable networks MTV, Comedy Central, Nickelodeon and film studio Paramount Pictures. Get the full story »

Wall Street lobbying group targets ‘Volcker rule’

Wall Street’s lead lobbying group said on Monday it wants to help shape the “Volcker rule” on risky bank trading, among many other provisions, as the biggest financial reforms since the 1930s are implemented. Get the full story »

CME rival gets capital injection, eyes U.S. swaps

ELX Futures said on Thursday its stakeholders recently injected “many millions of dollars” into the small U.S. Treasury futures exchange to help it expand to incorporate over-the-counter swaps and other products.

Neal Wolkoff, chief executive of the year-and-a-half-old market which is trying to take on futures giant CME Group Inc., said they did this in the last 10 days. He called it “a generous amount of money,” but did not say how much. Get the full story »