Suit accuses Jon Corzine of a failure at the helm. | Cost of public projects is rising, and pain will be felt for years. | Bank gains by putting the brakes on traders. | Exit from the bond market is turning into a stampede. | Andrew Ross Sorkin says that economists are asking: Did Ben Bernanke tip the Fed’s hand? | Mass layoffs at a top-flight law firm. | Deals in the works involving two luxury retailers.
A look back on our reporting of the past week’s highs and lows in finance.
Oligarchs Assemble Team for Oil Deals | The Russian billionaires Mikhail Fridman and German Khan have surrounded themselves with some highly regarded global executives to help them invest in the international energy market. DealBook »
Losing Ground on Nook, Barnes & Noble Ceases Its Own Manufacture of Color Versions | Company executives were silent about talks with Leonard S. Riggio, arnes & Noble’s chairman, who has sought to buy the chain’s 675 stores. Nor did they discuss the state of talks with Microsoft. DealBook »
Deal Professor: Clearwire Deal Is a Lesson in High-Stakes Bidding | Depending upon how well the directors play and when they decide to fold or up the ante, shareholders can be up or down billions of dollars, says Steven M. Davidoff. DealBook »
Deals in the Works Involving 2 Luxury Retailers | The private equity owners of Neiman Marcus filed for an initial public offering and the owner of Lord & Taylor is exploring a potential bid for Saks. DealBook »
Vodafone to Buy Germany’s Top C! able Giant for $10 Billion | Analysts were quick to play down the idea of a wider rebound in deals across Europe. DealBook »
Ratings Service Finds Pension Shortfall | Moody’s Investors Service, dissatisfied with the way states measure what they owe their retirees, released its own numbers, showing that the 50 states have, in aggregate, just 48 cents for every dollar in pensions they have promised. DealBook »
An Old Champion Returns for Mortgage-Based Bonds | Lewis S. Ranieri’s new firm, Shellpoint Partners, priced its first mortgage bond deal. The structure of the offering was changed to offer buyers more protection against losses. DealBook »
Bank Gains by Putting the Brakes on Traders | In the financial equivalent of the Tortoise and the Hare, Royal Bank of Canada has risen up the ranks of the biggest stock trading firms in the United States by embracing a rather Canadian restraint and prudence. DealBook »
Exit From the Bond Market Is Turning Into a Stampede | Many in the market say they think that the recent swings are driven more by fear than by a rational assessment of what bonds are worth. DealBook »
DealBook Column: Economists Are Asking: Did Bernanke Tip Fed’s Hand? | Ben Bernanke’s words moved the market because they filled in gaps that a statement from the Fed could never fully communicate, says Andrew Ross Sorkin. DealBook »
Venture, and Friendship, Sour After Insider Conviction | A year after being convicted of insider trading, Rajat Gupta is embroiled in a dispute over a private equity fund he helped found. DealBook »
Court Upholds Rajaratnam Conviction | The ruling validates the aggressive tactics deployed by federal prosecutors in the government’s sweeping investigation into insider trading on Wall Street. DealBook »
I.P.O.’s Face Road Blocks as Markets Turn Shaky | Once ebullient markets have had a bout of shakiness, driven largely by concern that the Federal Reserve will soon begin pulling back on its economic stimulus. DealBook »
Suit Accuses Corzine of a Failure at the Helm | Jon S. Corzine, no stranger to bare-knuckle brawls after spending nearly 40 years on Wall Street and in New Jersey politics, now faces the biggest fight of his career: a showdown with the United States government. DealBook »
- U.S. Civil Charges Against Corzine Are Seen as Near | The Commodity Futures Trading Commission informed Jon Corzine’s lawyers that it would file the case without offering! him the ! opportunity to settle, setting up a legal battle that could drag on for years. DealBook »
S.E.C. Begins an Inquiry Into Thomson Reuters Data | Federal securities regulators have opened an inquiry into how the media company releases closely watched manufacturing data to its trading clients. DealBook »
New Rules Expected for Insurance Accounting May Lead to Erratic Earnings | The Financial Accounting Standards Board proposed new rules that seem likely to increase volatility in reported profits for many insurers and lower reported revenue for rapidly growing companies. DealBook »
Lawyer Accused of Faking is Expenses Over 6 Years | Lee M. Smolen, a partner at DLA Piper, has been accused by an Illinois disciplinary board of fabricating more than $120,000 in expenses submitted to Sidley Austin, including about $70,000 in taxi trips. DealBook »
The Trade: In Shareholder Say-on-Pay Votes, Whispers, Not Shouts | The Dodd-Frank financial overhaul law gave shareholders the ability to vote on the pay packages of top executives, and it turns out that they fall over themselves to approve, says Jesse Eisinger. DealBook »
Mass Layoffs at a Top-Flight Law Firm | Weil, Gotshal & Manges says that the market for high-end legal services is continuing to shrink. DealBook »
‘Back on the Chain Gang’ | Some readers are quoting the Pretenders in calling for harsh punishment for Jon Corzine. YouTube »
