Archive | September, 2004

Taking Economics At The Electoral College

By Dan Ackman – With the first presidential debate looming this evening and the election itself five weeks off, most polls show President George W. Bush with a five or more percentage point lead. Other economic-based election predictors are showing even more positive results for the incumbent while at the same time, one investing newsletter […]

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Currency Trading Surges to Record $1.9 Trillion Daily Average

By Mark Tannenbaum – Foreign-exchange trading surged to a record daily average of $1.9 trillion this year as hedge funds and other money managers increased bets on currencies, according to the Bank for International Settlements. The value of transactions, which is about four times the average trading each day in U.S. Treasury securities, rose 57 […]

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Presidential Elections and the Economy

By Mike Moffatt – It seems that during every presidential election year we hear that jobs and the economy will be pivotal issues. It’s commonly assumed that an incumbent president has little to worry about if the economy is good and there are lots of jobs. However, if the opposite holds true, he should prepare […]

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Traders lean toward Bush

Bloomberg News – President Bush has widened his lead over Democratic challenger John Kerry in online futures markets. 67 percent: Bush’s chance of winning, based on bids on futures contracts on the Dublin-based Intrade Exchange, www.intrade.com. That’s up from 49 percent on Aug. 13 but down from 70 percent Monday. (more…)

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Brazil real falls on Powell threat, tight liquidity

São Paulo, 22 – The Brazilian real ended Wednesday at R$ 2.882 to the dollar, which rose 0.45%. This was off of a R$ 2.883 minimum for the local currency, a R$ 2.859 maximum and a R$ 2.869 close on Tuesday. The real was hit on Wednesday by U.S. secretary of state Colin Powell implying […]

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$1bn claim over copper scandal heads for courts

By Nikki Tait – A $1bn-plus High Court claim being pursued by Japan’s Sumitomo against Credit Lyonnais Rouse, part of the French Credit Agricole group, could take more than six months to try and involve more than three dozen witnesses, say lawyers. If there is no settlement between the two sides, the case will be […]

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Nick Leeson: ‘How I Pulled Off $1.3B Fraud’

MIAMI, Sept. 21 /PRNewswire/ — A trader who was responsible for one of the most notorious crimes in the history of global finance will make his United States speaking debut next month. British national Nick Leeson made international headlines in 1995 after he ran up $1.3 billion in losses from unauthorized trading in Singapore. His […]

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Hantec to License Electronic Foreign Exchange Platform

NEW YORK, Sept. 20 /PRNewswire/ — Refco Group Ltd., LLC, a world leader in providing risk management and investment services, announced today that Refco Forex Limited has signed a memorandum of understanding with Hantec Investment Holdings Limited, whose shares are listed on The Stock Exchange of Hong Kong Limited. The financial terms of the transaction […]

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Buffett of the North

By Richard Gibbons – For years, Warren Buffett, CEO of Berkshire Hathaway (NYSE: BRK.a)(NYSE:BRK.b), has symbolized the peak of investing prowess. So for those looking for the next superinvestor, a nickname such as “Warren Buffett of the North” should be an eye-catching sign. And not just a wimpy street sign, but an immense, flashing Vegas-style […]

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