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Devan is the Editor of CompliancEX. She loves to hear from our avid readers and would love to receive some feedback. She can be reached at Devan@compliancesearch.com
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| Career Advice from Jack Kelly |
"Everything You Need to Know About The Job Market Right Now"
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By Jack J. Kelly
As of the time of writing the ComplianceX newsletter, Wall Street sold off sharply today. The bellwether for the stock market, S&P 500 index, hit a four-month low, primarily due to mounting concerns over the contentious conclusion of the presidential election.
Also, the markets adversely reacted to the prospect of the Federal Reserve Bank raising interest rates.
The CBOE Volatility Index, a measure of investor anxiety, rocketed to a two-month high.
The brutal and divisive presidential race between Democrat Hillary Clinton and Republican Donald Trump seemed as if Hillary was going to soundly beat Trump.
Suddenly, literally over night, the race tightened after FBI Director, James Comey, sent a letter to Congress announcing that he is re-opening the agency's investigation into Hillary Clinton's emails. A treasure trove of 650,000 previously undisclosed emails were found on Clinton's right-hand woman, Huma Abedin, estranged husband, Anthony Weiner's laptop.
To Read the full article click
here
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GE has paid Wall Street bankers $3.6 billion in fees in the last decade
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On Monday, General Electric (GE) said it will merge its oil and gas business with oilfield services provider Baker Hughes in a deal that will create a new company with $32 billion in revenue.
The deal is also a nice payday for Wall Street's dealmakers.
On the advisory side, it's estimated that GE could pay between $25 to $35 million to boutique investment bank Centerivew and and Wall Street behemoth....
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Barclays decision to cut London office space signals gut threat
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Bloomberg News reports that the bank is seeking to sublease offices in the Canary Wharf financial district to the U.K. government, according to two people with knowledge of the matter. They asked not to be identified because the information is private. It shows how space that was previously occupied can suddenly come back on the market as companies downsize, providing more competition for tenants than investors expected.
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A wintery warning from StanChart's boss that things aren't "acceptable"
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Shares in emerging markets lender Standard Chartered plummeted over six per cent this morning after its chief exec called his company out for a performance that was "not yet acceptable".
The figures
Third quarter revenues were slightly down at
$3.5bn
from
$3.6bn in the year before and identical to the second quarter.
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UBS chief pledges to continue to cut costs
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Hedge funds need to stop hiring the same white, male Wall Streeters they always have
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We are near the end of a third consecutive year in which hedge funds have struggled to justify their existence. The response of some industry veterans has been to say relax, stay the course, we've been here before. They're wrong. We have not been here before.
Even as the stock market has gone steadily up since 2012 the average return of all hedge funds will be flat to negative for the third year in a row at the end of 2016.
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Newest weapon in U.S. hunt for insider traders paying off
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NEW YORK (Reuters) - When plumber Gary Pusey pleaded guilty in May to insider trading, it was a victory not just for New York prosecutors but for a little-known squad inside the U.S. Securities and Exchange Commission that uses data analysis to spot unusual trading patterns.
Formed in 2010, the Analysis and Detection Center of the SEC's Market Abuse Unit culls through billions of rows of trading data going back 15 years to identify individuals who have made repeated, well-timed trades ahead of corporate news.
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Hedge funds aren't leasing office space like they used to
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Just what you've been waiting for, folks: a column full of industry data! In the absence of anyone right now selling, buying, leasing or demolishing anything of much interest - at least above tenement size - a couple of new studies we've gotten our hands on offer useful glimpses into the market's current pause.
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| Prosecution dismisses banker's claim in murder trail |
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British investment banker Rurik Jutting was calm and aware of his actions when he killed two Indonesian women in his Hong Kong apartment, a prosecutor said on Tuesday, rejecting his defence that he had lost control due to drugs and sexual disorders.
Reuters reports that prosecutor John Reading cross examined defence witness Dr Richard Latham, a British psychiatrist, stating....
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Victims Seek Mercy for Wall St. Scion Who Defrauded Them
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I Paid A Bribe, Former Unaoil Employee Told FBI
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Late one summer night in 2009, Lindsey Mitchell, a manager for the Monaco-based oil services firm Unaoil, parked his SUV in a dark lot outside a coffeehouse in Tripoli, Libya. A man was waiting there. He was a production manager for Waha, a subsidiary of Libya's state-owned oil company.
The Waha official handed Mitchell a thick envelope. Inside were more than 100 pages of internal Waha documents about a $45 million environmental contract to clean up oil-polluted rivers in the Libyan desert.
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More States Legalizing Pot Could Force Feds To Do Something About Bank Access
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Operating a store selling a product that's legal in your state but illegal on the federal level creates a unique business challenge: running a business without being allowed to use banks. Yet ballot initiatives on Election Day, just over a week from today, could make recreational or medical cannabis legal for recreational or medical use in 34 states, and for both in populous states like California and Massachusetts. Could this push the feds to do something about the banking situation?
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Fresh allegations Rolls-Royce was involved in corruption to land contracts
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Rolls-Royce was involved in corruption to land major contracts, an investigation has alleged.
The claim was made in a BBC documentary, which said that Rolls-Royce hired a network of agents and used bribes in order to land contracts in 12 countries.
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