Deutsche Bank in $6bn ‘Fat Finger’ Slip-Up – FT.Com (subscription) The bank mistakenly paid out $6 billion to a hedge fund client earlier this year as a result of a ‘fat finger’ error.
Fed’s Williams Sees Rate Rises Appropriate in ‘Near Future’ – Reuters Despite strong headwinds from overseas that are holding down U.S. inflation, the Federal Reserve should soon begin to raise interest rates to slow down economic growth before it becomes unsustainable, a top Fed official said
Trudeau Rides National Desire for Change to Majority Government – Globe & Mail In a stunning political comeback propelled by a national desire for change, Justin Trudeau and the Liberals won a decisive majority Monday night, bringing an end to the Stephen Harper era and a decade of Conservative rule.
Morgan Stanley Weakness in FX Trading Leads to Poor Q3 Results – Leap Rate Wall Street investment bank Morgan Stanley (NYSE:MS) reported Q3 results which disappointed investors, sending its shares diving about 6% in pre-market trading Monday.
Ex-Rabobank Trader Says `Libor Time’ Was Call to Fix Rates – Bloomberg “It’s Libor time.” That was the call ahead of Rabobank Grope’s daily morning submission on the London interbank offered rate as people gathered to rig the rate to make more money, a former trader testified at the U.S. trial of his colleagues.
London sees Influx of Chinese Banks – FT.Com (subscription) London’s status as a top trading hub for over-the-counter derivatives and foreign exchange is growing stronger as more Chinese financial institutions put down roots there.
Obama Administration Softens Criticism of China’s Currency Policy – Wall Street Journal (subscription) Treasury Department report cites shift in global economic winds.