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News Highlights: Top Equities Stories Of The Day

Date : 07/11/2012 @ 6:42AM
Source : Dow Jones News

News Highlights: Top Equities Stories Of The Day

Diamond Hits Back at Libor Allegations

Former Barclays Chief Executive Robert Diamond hits back at allegations that he had misled U.K. lawmakers when giving evidence over an interest-rate scandal, calling them "unfair and unfounded."

HSBC to Apologize At July 17 Senate Hearing

HSBC Holdings will apologize for lax anti-money laundering controls at a July 17 U.S. Senate hearing, the London-based lender's chief executive says in an internal memo seen by Dow Jones Newswires.

J.P. Morgan Seeks Clawback After Trading Blunder

J.P. Morgan plans to reclaim millions of dollars in stock from executives at the center of the trading blunder that shocked Wall Street and tarnished the reputation of Chief Executive James Dimon, people familiar with the plan say.

Report HSBC to Apologize At July 17 Senate Hearing

HSBC Holdings will apologize at a July 17 U.S. Senate hearing and say its anti-money laundering controls should have been better, Bloomberg News reports.

Amazon.com Working on Smartphone

Officials at some of Amazon's parts suppliers say the Seattle-based company is testing a smartphone and mass production of the new device may start late this year or early next year.

Elpida Bondholders Protest Sale To Micron

Elpida Memory bondholders say the integrity of Japan's corporate restructuring is at stake in a brewing dispute over the planned sale of the chip maker to rival Micron Technology.

CFTC Sues Peregrine Financial, CEO

Federal regulators sue Peregrine Financial Group, the parent company of PFGBest, and chief executive Russell Wasendorf Sr. alleging fraud, customer funds violations and making false statements.

Judge Allows Patriot Coal to Access $802M Loan

Patriot Coal is allowed to start borrowing on most of an $802 million bankruptcy loan from a group including Citigroup, Barclays and Bank of America, a day after it filed for Chapter 11 bankruptcy protection.

Rogers Says CEO's Style Troubled Duke Board

Jim Rogers, chief executive of Duke Energy, tells regulators he didn't orchestrate the removal of Bill Johnson, the company's newly installed chief executive, which restored Rogers to the top executive spot.

Lockheed Martin Cuts 740 Jobs in Mission Systems Unit

Lockheed Martin says it has cut 740 jobs from its mission systems and sensors business, which the defense contractor says is part of its efforts to improve efficiency and affordability in a challenging budget environment.

Blackstone Aims to Shed U.S. Office Portfolio

Private-equity firm Blackstone is preparing to sell its portfolio of U.S. office buildings, a move that would signal that one of the property sector's most active buyers is moving into a selling phase as top office markets recover.

 
ANALYSIS & COMMENTARY: 

THE WALL STREET JOURNAL: Airbus Tries New Way of Building Planes

Engineers developing the Airbus A350 race to create an airliner aimed at redefining comfort and efficiency. They're also are trying to prove they can build a plane without major delays, Daniel Michaels writes.

THE WALL STREET JOURNAL: Traders Take Smaller Bites of Apple

Individual investors, facing triple-digit prices for shares of Apple and Google, increasingly are turning to options as a cheaper way to trade, Kaitlyn Kiernan writes.

THE WALL STREET JOURNAL: RIM CEO, Board Move to Appease Shareholders

In a further move aimed at appeasing frustrated investors, Research in Motion chairwoman Barbara Stymiest says it is actively looking to further shake up its board of directors.

ANALYSIS: PFGBest Customers Grapple With Outrage, Frozen Funds

Commodities investors are scrambling for answers from Peregrine Financial Group, or PFGBest, as the possibility emerges that the firm has misappropriated more than $200 million from its customers' accounts.

THE WALL STREET JOURNAL: AMR to Formally Explore Mergers

American Airlines parent AMR Corp. plans to formally sound out potential partners to discuss mergers or other investment deals in coming weeks, say people familiar with the matter.

 
 


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