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• Hollande Set for EU Summit Showdown with Merkel
  European leaders will explore ways of breathing life into their stricken economies at a summit on Wednesday, but the issue of eurozone bonds and whether they can help alleviate two years of debt turmoil will dominate the meeting. Prime Minister Mariano Rajoy of Spain, where...
• Egan-Jones Cuts Spain Rating Further on Weak Banks
  Egan-Jones Ratings cut Spain's credit level further on Tuesday, citing the same weak banking sector that led the agency to downgrade Spain less than a month earlier. The firm cut Spain to BB-minus from BB-plus. Spain will inevitably be faced with sizable payments to support...
• Japan World's Top Creditor in 2011, for 21st Straight Year
  Japan was the world's major creditor in 2011, for the 21st consecutive year, reflecting corporations' aggressive foreign acquisitions and Japan's prodigious foreign currency intervention.
• Senators Seek to Remove Bankers From Fed Boards
  
  U.S. Senators Bernie Sanders, Barbara Boxer and Mark Begich plan to introduce legislation today that would remove banking industry executives from the 12 regional Fed banks’ boards of directors.
• JPMorgan Employee Sues Over Trading Losses to Retirement Funds
  JPMorgan Chase & Co. has been hit with a lawsuit brought on behalf of employees whose retirement holdings fell in value after the largest U.S. bank revealed a surprise $2 billion trading loss earlier this month.
• SEC Looking at JPMorgan's Financial Reporting
  The U.S. Securities and Exchange Commission will look into the "appropriateness and completeness" of JPMorgan Chase & Co's financial reporting, SE C Chairman Mary Schapiro told the Senate Banking Committee on Tuesday.
• FT: Secret Central Bank Aid Props Up Greek Banks
  Secret central bank aid is propping up Greece, The Financial Times reported.
• Facebook Flop Prompts Finger-Pointing Blame Game
  After one of the most anticipated initial public offerings in history, Facebook’s 11 percent drop Monday prompted investors to fault everything from Morgan Stanley’s role as lead underwriter, to the company’s greed and the Nasdaq Stock Market.
• Nasdaq Seen Struggling With Aftermath of Facebook IPO
  Nasdaq OMX faces short-term costs from its botched handling of Facebookshares on their first day of trading but the longer term repercussions could be more expensive as it struggles to restore its image.
• Morgan Stanley Cut Facebook Estimates Just Before IPO
  In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company. The sudden...
• IMF Calls on UK to Do More to Boost Economy
  
  
  The International Monetary Fund (IMF) has issued a tough assessment of British economic policy, urging the coalition government and Bank of England to do more to boost demand in the economy.
• BofA Chief: Dimon Will Do What’s Needed to Stanch Loss
  JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has the experience needed to manage the fallout from trading losses, and market disruptions haven’t been serious, Bank of America Corp. CEO Brian Moynihan said.
• Fitch Cuts Japan Rating on Tame Deficit Reduction Effort
  Japan's sovereign rating was cut by one notch by Fitch on Tuesday as a political stalemate dims the chance that the country can curb its snowballing debt.Fitch lowered Japan's long-term foreign currency rating to A plus from AA. It cut the local currency ratings to A plus...
• Hollande Wants Frank Talk on Growth at EU Summit
  French President Francois Hollande said on Monday he wanted all options discussed to stimulate growth in Europe when EU leaders meet later this week, but declined to comment on his proposals to issue joint euro zone bonds to avoid upsetting partners. "I am not preparing this...
• German Finance Minister Open to Growth Measures
  Germany will consider all ideas on bolstering euro area growth, Finance Minister Wolfgang Schaeuble said as he and his French counterpart, Pierre Moscovici, sought to fashion a new strategy amid the Greek electoral impasse. "We will engage all ideas constructively and find...
• Finance Prof: Treasury Overstates Benefits of Bailouts
  The Treasury Department is exaggerating the benefits to taxpayers of the 2008 bank bailouts, one expert says. In its latest analysis of the government's financial rescue programs, Treasury bragged, "The latest available estimates indicate that the financial stability programs...
• FDIC Sues Over Mortgage-Backed Securities Sold to Failed Banks
  The Federal Deposit Insurance Corp. sued a group of banks including JPMorgan Chase & Co., Citigroup Inc., Bank of America Securities and Deutsche Bank AG in two actions over mortgage-backed securities.
• Morgan Stanley Said to Be Still Working on Facebook IPO Orders
  Morgan Stanley's brokerage affiliate, Morgan Stanley Smith Barney, has a "large number" of market orders and marketable limit orders that were entered Friday for the trading debut of Facebook Inc stock that have still not been reconciled, according to an adviser at the firm.
• Nasdaq Alters IPO Procedures After Facebook Glitch
  Nasdaq OMX Group Incsaid on Monday it is changing its initial public offering trading procedures following glitches in Facebook Inc'smarket debut at the end of last week that prevented some traders from knowing for hours whether their orders for shares had been...
• JPMorgan Suspends Stock Buybacks in Face of Loss
  JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said on Monday the bank has suspended its repurchases of its stock but is maintaining its dividend, while working down losing trades in credit derivatives.
• Nasdaq May Be on $100 Million Hook for Botched Facebook Debut
  The botched Facebook delay at the Nasdaq stock exchange on Friday may cost the venue $100 million.
• Nasdaq CEO Blames Software Design for Delayed Facebook Trading
  Nasdaq OMX Group Inc., under scrutiny after shares of Facebook Inc. were plagued by delays and mishandled orders on its first day of trading, blamed poor design in the software it uses for driving auctions in initial public offerings.Computer systems used to establish the...
• Barclays Plans to Sell Entire $6.1 Billion BlackRock Stake
  British bank Barclays said it is to sell its 19.6 percent holding in U.S. asset manager BlackRock, worth $6.1 billion and which it has held for almost three years.
• Lockhart: Fed Shouldn’t Rule Out New Easing Amid European Risks
  Federal Reserve Bank of Atlanta President Dennis Lockhart said policy makers need to retain the option of starting a new round of bond buying to spur the U.S. expansion as it faces risks from the weak economies of Europe.
• Facebook Faces Crucial Week After Modest Debut
  Newly issued shares in Facebook Inc may have a hard time in the coming week if lead underwriter Morgan Stanley stops supporting the stock and managers lower down in the IPO book who were hoping for an early surge decide to get out before going underwater. Facebook on Friday...

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