Tuesday, August 16, 2011

8/16 Daily Financial News

// Bank of America: Financial Loser
// August 16, 2011 at 4:34 PM

http://www.thestreet.com/story/11222293/1/bank-of-america-financial-loser..html?cm_ven=RSSFeed
NEW YORK (TheStreet) -- Bank of America was the loser on Tuesday among the largest financial names, with shares pulling back nearly 5% to close at $7.40. Following Monday's announcement of Bank of America's deal to exit its international credit card business, including a deal to sell its $8.5 billion Canadian card portfolio to TD Bank Group , the Financial Times suggested Barclays PLC and ...


// Can Math Beat Financial Markets?
// August 16, 2011 at 4:09 PM

http://www.scientificamerican.com/article.cfm?id=can-math-beat-financial-markets
Wall Street's wild swings last week helped skew both retirement portfolios and mathematical models of the financial markets. After all, a standard Gaussian function --a bell curve--would predict that such extreme dips and rises would be exceedingly rare and not prone to following one after the other on succeeding days. Gaussian functions might be able to describe the distribution of grades in a ...


// Paulson, Soros Pared Financial Stocks Last Quarter Before Losses
// August 16, 2011 at 4:04 PM

http://www.businessweek.com/news/2011-08-16/paulson-soros-pared-financial-stocks-last-quarter-before-losses.html
Hedge funds run by John Paulson, George Soros and Steve Mandel cut back on bank shares in the second quarter, before Citigroup Inc. and Bank of America Corp. lost more than one-fifth of their value.


// Luminus Financial to acquire Food Family Credit Union
// August 16, 2011 at 3:30 PM

http://ca.news.yahoo.com/luminus-financial-acquire-food-family-credit-union-193022949.html
TORONTO - Luminus Financial is buying Food Family Credit Union in a merger deal between two small Ontario credit unions.


// Financial Transaction Tax for Europe?
// August 16, 2011 at 3:15 PM

http://www.cnbc.com/id/44163841?__source=yahoonews&par=yahoonews
"If it's anything like what Reps. Perlmutter & Defazio proposed in 2009, it would put us and virtually all quant traders out of business overnight," a high-frequency trader wrote.


// Nathan Newman: New Consumer Financial Protection Bureau Should Regulate Online Advertising of Financial Products
// August 16, 2011 at 2:21 PM

http://www.huffingtonpost.com/nathan-newman/new-consumer-financial-pr_b_928063.html
By closely regulating how the large search engine and related online advertising players collect and share the personal data they control, many abuses can be stopped.


// New financial-management software offered by Infor
// August 16, 2011 at 1:07 PM

http://www.nationmultimedia.com/2011/08/17/business/New-financial-management-software-offered-by-Infor-30162960.html
Infor has announced a new range of financial-management solutions, which it expects will help the company achieve double-digit growth for business-application software in Thailand this year.


// Financial stocks fall amid signs of slowed growth
// August 16, 2011 at 12:44 PM

http://news.yahoo.com/financial-stocks-fall-amid-signs-slowed-growth-164429143.html
A wide range of financial stocks plummeted Tuesday amid fresh evidence of slowing economic growth worldwide and heightened anxiety over Europe's government-debt crisis.


// Financial Stocks: Financial stocks lag on Europe concerns
// August 16, 2011 at 10:27 AM

http://www.marketwatch.com/news/story.asp?guid=%7B278D72EE-C80D-11E0-A28C-00212803FAD6%7D&siteid=rss&rss=1
Shares of many financials decline in step with the broader market, with disappointment over Germany's surprise second-quarter economic slowdown helping color U.S. trading in the sector.


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