Company News



Draghi’s $1.4 Trillion Question Lingers as ECB Mulls QE

When Mario Draghi flies to the U.S. this week, he’ll leave a 1 trillion-euro ($1.4 trillion) question mark hanging over Europe. . .

http://www.bloomberg.com/news/2014-04-06/draghi-s-1-4-trillion-question-lingers-as-ecb-mulls-qe.html



Citigroup uncovered rogue trading in Mexico, fired two bond traders

Reuters) – Citigroup’s (C.N) Mexican subsidiary Banamex fired two bond traders after uncovering rogue trading last year, two sources close to the matter said, raising fresh questions over what controls the troubled unit had in place to police employees

http://www.reuters.com/article/2014/04/01/us-citigroup-mexico-trading-idUSBREA300BJ20140401



JPMorgan Folds London Whale Office Into Another Unit

JPMorgan Chase & Co. (JPM), the biggest U.S. bank by assets, said it will merge the operation that produced a $6.2 billion trading loss in 2012 with another business unit. . .

http://www.bloomberg.com/news/2014-04-03/jpmorgan-folds-london-whale-office-into-another-unit.html



U.S. Justice Department probing high-frequency trading

The Justice Department is investigating high-speed trading for possible insider trading, Attorney General Eric Holder tells lawmakers. . .
http://hereisthecity.com/en-gb/2014/04/05/justice-department-probing-high-frequency-trading/



ECB Working Paper SerieS NO 1668 / april 2014: The effect of G20 summits on global financial markets

In the wake of the global financial crisis, the G20 has become the most important forum of global governance and cooperation, largely replacing the once powerful G7. In this paper we run an event study to test whether G20 meetings at ministerial and Leaders level have had an impact on global financial markets. We focus on the period from 2007 to 2013, looking at equity returns, bond yields and measures of market risk such as implied volatility, skewness and kurtosis. Our main finding is that G20 summits have not had a strong, consistent and durable effect on any of the markets that we consider, suggesting that the information and decision content of G20 summits is of limited relevance for market participants. . .

http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1668.pdf