Daily Outlook - Sept 2
Rally's Over?; Betting Big on Banks; Madoff Family Targeted
Investors fret 2009 stocks rally is over
World stocks fell close to 1 percent on Wednesday after an overnight sell off on Wall Street, with both Asia and Europe rattled by concerns over the sustainability of this year's equity rally. Read Full Article here.
Hedge funds bet big on BofA, other banks
At least 20 top hedge funds boosted their positions in financial institutions in the latest quarter in a sign that Wall Street is ready to bet on more risky sectors in the hope of longer-term rewards. Read Full Article here.
Madoff case trustee targeting sons, brother: report
The court-appointed trustee in charge of the Bernard Madoff Ponzi case is preparing to file civil complaints against Madoff's two sons, as well as his brother, CBS News reported on Tuesday. Read Full Article here.
Nokia launches phones, announces Facebook deal
Top mobile phone maker Nokia on Wednesday bolstered its smartphone line-up to better battle Apple and announced a new location-based service with social networking site Facebook. Read Full Article here.
BofA TARP payment splits analysts
Reports that Bank of America Corp is in talks with the U.S. Treasury to repay $20 billion of its federal bailout was met by the market with joy -- and a little skepticism. Read Full Article here.
Internet providers seek low broadband bar
The biggest U.S. Internet service providers urged regulators to adopt a conservative definition of broadband, arguing for minimum speeds that were substantially below many other nations. Read Full Article here.
Madoff case trustee targeting sons, brother: report
The court-appointed trustee in charge of the Bernard Madoff Ponzi case is preparing to file civil complaints against Madoff's two sons, as well as his brother, CBS News reported on Tuesday. Read Full Article here.
Credit Suisse eyes private bank buys, no word on ING
Credit Suisse's Private Banking head Walter Berchtold said the bank is on the look out for acquisitions, but would not comment on whether this included a bid for private banking assets of ING. Read Full Article here.
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