Breaking News Real Time News items

• Interior Sec, Asst for Energy, Climate Change will brief on 6m Oil Drilling Moratorium, New Safety Measures for Offshore Oil, GasPosted:27/05/2010 19:07 GMT by NeedToKnowNews
• 7.4 Earthquake at Vanuatu (east of New Guinea, South of Solomon Islands)Posted:27/05/2010 19:00 GMT by NeedToKnowNews
• Stop baby, stop - Administration drilling halt includes 33 deep water rigs in GOM including those drilling and preparing to drillPosted:27/05/2010 18:51 GMT by NeedToKnowNews
• Obama - Interior Secretary had "cleaned house" at MMS; culture did not changePosted:27/05/2010 18:34 GMT by NeedToKnowNews
  Obama - Interior Secretary had "cleaned house" at MMS; culture did not change
• Obama calls MMS Birnbaum...a "resignation"Posted:27/05/2010 18:31 GMT by NeedToKnowNews
  Obama calls MMS Birnbaum...a "resignation"
• ECB's Noyer - never got an indication China concerned over EURO; says also, EURO level good for exports; says France must cut its debt or undertake austerity measuresPosted:27/05/2010 17:25 GMT by NeedToKnowNews
• Asst Tsy Sec Wolin - 'we will work hard to include Volcker Rule provisions...separating prop trading from buinsess of banking'; 'limit size of fin'l instits by preventing acquisitions...resultilng in 10%+ of liabilities in fin'l system'Posted:27/05/2010 17:13 GMT by NeedToKnowNews
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• Minerals Management Service Head Birbaum FiredPosted:27/05/2010 17:00 GMT by NeedToKnowNews
• Adm. Thad Allen, National Incident Commander Press Briefing 4:30pm EST - White HousePosted:27/05/2010 16:57 GMT by NeedToKnowNews
• NYSE, AMEX invoke Rule 48 for Opening - no indicated prices, faster openingPosted:27/05/2010 14:18 GMT by NeedToKnowNews
  From NYSE ...."Today, New York Stock Exchange has invoked Rule 48, which provides the exchange with the ability to suspend the requirement to disseminate price indications and obtain floor-official approval prior to the opening when extremely high market-wide volatility could cause floor-wide delays in opening of securities on the exchange".
• Geithner: Important to make global growth in future more balancedPosted:27/05/2010 11:53 GMT by NeedToKnowNews
• Geithner: All agree that part of recovery is to commit to clear objectives to reduce fiscal posns.Posted:27/05/2010 11:45 GMT by NeedToKnowNews
  Different countries coming to the issue with different tactics.
• Geithner: Challenge is to make sure we create more stable systemPosted:27/05/2010 11:42 GMT by NeedToKnowNews
• US Treas. Sec Geithner: US completely committed to cooperative, global approach on regulationPosted:27/05/2010 11:39 GMT by NeedToKnowNews
• Germany's Schaeuble: Held intensive talks with US Treasury Sec. Geithner about regulationPosted:27/05/2010 11:32 GMT by NeedToKnowNews
• President Obama will make another trip to the Gulf Coast Friday morning - White HousePosted:25/05/2010 21:14 GMT by NeedToKnowNews
  White House also informs .."The Administration has mobilized one of the largest responses to a catastrophic event in history, with more than 1,200 vessels in the region and more than 22,000 people, including many of the brightest scientific minds from both the public and private sector, working around the clock to mitigate the oil
• Tsy Sec Geithner will also have discuss Financial Reform ahead of upcoming G-20 meetingsPosted:25/05/2010 21:08 GMT by NeedToKnowNews
• Tsy Sec Geithner will discuss econ situation.."measures being taken to restroe global confidence"; recall Tsy Sec recommended "stress tests" to Europeans earlier todayPosted:25/05/2010 21:04 GMT by NeedToKnowNews
  Tsy Sec Geithner will discuss econ situation.."measures being taken to restroe global confidence"; recall Tsy Sec recommended "stress tests" to Europeans earlier today
• Treasury Secretary Geithner to meet with European Officials tomorrowPosted:25/05/2010 20:58 GMT by NeedToKnowNews
• Senator Lincoln says provisions in her amendment would allow for use of swaps to manage risk..but not use Customer Money for "casino" swap dealsPosted:25/05/2010 18:20 GMT by NeedToKnowNews
  Senator Lincoln says provisions in her amendment would allow for use of swaps to manage risk..but not use Customer Money for "casino" swap deals
• Obama on Small Businesses - meeting at White House today; opening comments to Small Business OwnersPosted:25/05/2010 16:47 GMT by NeedToKnowNews
  Obama says Small Business creates 2 out of 3 jobs. Sm Bus have lost 2.4mln jobs. Says banks shrunk from lending during crisis and says govt cannot make small business succeed but says Credit Unions, SBA are lending. Talking tax cuts..write offs, healthcare tax credit.
• Napolitano - BP is the responsible party; we will add more Coast Guard; we are dealing with Boom issue; we all understand the urgency, uniqueness of situation and holding BP repsonsiblePosted:24/05/2010 18:17 GMT by NeedToKnowNews
• Interior Secretary Salazar says the U.S. is obtaining an independent analysis of the Oil Spill - CNNPosted:24/05/2010 18:01 GMT by NeedToKnowNews
• El Erian - "new normal" does not mean no upside potential; new normal means asset returns, inflation, real growth are likely to be 1/2 size vs full size - cnbcPosted:21/05/2010 19:31 GMT by NeedToKnowNews
  El Erian - "new normal" does not mean no upside potential; new normal means asset returns, inflation, real growth are likely to be 1/2 size vs full size - cnbc
• El Erian - double dip unlikely; we have few if any "spare tires" left; if we get policy mistake, system will not be able to recover so quickly - cnbcPosted:21/05/2010 19:24 GMT by NeedToKnowNews
  El Erian - double dip unlikely; we have few if any "spare tires" left; if we get policy mistake, system will not be able to recover so quickly - cnbc
• Pimco's Gross - preservation of capital seems foremost to investors now; US bonds safe haven for investors - cnbcPosted:21/05/2010 19:21 GMT by NeedToKnowNews
• Pimco's Gross - consumers have learned their lesson on credit - cnbcPosted:21/05/2010 19:18 GMT by NeedToKnowNews
• El Erian - consumer likely to face headwinds; unlikely housin mkt will come back allowing for use as an ATM to spur Consumer Spending - cnbcPosted:21/05/2010 19:15 GMT by NeedToKnowNews
• El Erain - Europe situation likely to slow global growthPosted:21/05/2010 19:12 GMT by NeedToKnowNews
• Direct Edge CEO ....too early to make call if today will be like 6 May (flash crash)Posted:20/05/2010 17:19 GMT by NeedToKnowNews
• Direct Edge CEO points out the SEC report did not single out flash tradersPosted:20/05/2010 17:12 GMT by NeedToKnowNews
• Direct Edge CEO ..unlikely to find out an individual that caused 6 May crash b;'berg tvPosted:20/05/2010 17:09 GMT by NeedToKnowNews
• DirectEdge O Brien - ETFs, Derivs likely to have trading halts as well as stocks - b'berg tvPosted:20/05/2010 17:06 GMT by NeedToKnowNews
• FDIC's BAIR supports derivs inside banks (anti Volcker); warns Congress to carefully mull removing derivs from banks; claims such removal would Increase, not Decrease RiskPosted:20/05/2010 16:34 GMT by NeedToKnowNews
• Trichet - term deposits will be used to draw back liquidity created by bond purchasesPosted:20/05/2010 14:46 GMT by NeedToKnowNews
• LaGarde says the Euro is not imperiled and supports Merkel's defense of the Euro tho admits there will be no French ban on debt short sellingPosted:20/05/2010 13:32 GMT by NeedToKnowNews
• French Fin Min LaGarde inches toward Merkel - calls for financial, commodity regulation; admits no head's up from Germany on short selling banPosted:20/05/2010 13:16 GMT by NeedToKnowNews
• SEC/CFTC Joint Advisory Cmte on Emerging Regulatory Issues meet 24 May - Topic...May 6th; Stiglitz joins CmtePosted:18/05/2010 21:30 GMT by NeedToKnowNews
  The CFTC and SEC also announced today that Nobel Laureate and Columbia Business School Professor Joseph Stiglitz will be a member of the Joint Committee. SEC Chairman Mary Schapiro, CFTC Gary Gensler care Co- Chairs; other members include Brooksley Born, Jack Breannan (Former CEO Vanguard), Robert Engle (Finance Prof NYU Stern), Richard Ketchum (FINRA), Maureen O
• EURO remains at 4yr low; CABLE tanking as well - last down 130pips at 1.4344; UK Sovereign CDS gain 8bps after Short Selling BanPosted:18/05/2010 20:50 GMT by NeedToKnowNews
• Talk of SEC excepting ETFs from trading haltsPosted:18/05/2010 20:09 GMT by NeedToKnowNews
• South Korea will formally blame North Korea for the March 2010 attack on one of its vessels that resulted in 46 sailors being killed - WaPoPosted:18/05/2010 19:33 GMT by NeedToKnowNews
• German Chancellor Merkel is said to be introducing a Transaction Tax tomorrow...on an International LevelPosted:18/05/2010 19:30 GMT by NeedToKnowNews
• European CDS prices come in after German Fin Min bans naked short selling of Equities, Debt; Greece comes in 58pts to just over 600bpsPosted:18/05/2010 19:15 GMT by NeedToKnowNews
• Minerals Mngmnt Assoc Director Chris Oynes - that oversaw Offshore Oil and Gas Drilling is.................retiring 31 MayPosted:17/05/2010 18:57 GMT by NeedToKnowNews
• Admin Releases APRIL Loan Modifications Report (HAMP Program) - overall 17.3% of mtgs 60+ days delinquent have had permanent modificationsPosted:17/05/2010 18:13 GMT by NeedToKnowNews
• Bank Equities still in negative territory; GS off 70 cnets, C off 8 cnets, JPM off 81 cents, BAC off 15 cents, WFC down 51cents on Investigations, spectre of Volcker Rule becoming RealityPosted:17/05/2010 15:15 GMT by NeedToKnowNews
• Senators Dodd and Lincoln will reconcile differences on Fin'l Derivatives in Regulation bill - Geithner, b'berg tvPosted:14/05/2010 21:09 GMT by NeedToKnowNews
• President signs into law Elimination of Automatic adjustment in pay for Member of Congress during FY 2011Posted:14/05/2010 19:38 GMT by NeedToKnowNews
• Obama - Closing loophope that oil cos use to bypass critical safety rules; essential to put in place every safeguard to make sure this does not happen againPosted:14/05/2010 17:33 GMT by NeedToKnowNews
• President Obama on small business legislationPosted:13/05/2010 20:08 GMT by NeedToKnowNews
  In my State of the Union address, I called for a $30 billion small business lending fund. This would help increase the flow of credit to small companies that were hit hard by the decline in lending that followed the financial crisis. Last week, I sent Congress this legislation, which now includes a new state small business credit initiative
• President Obama - banks shrunk from lending in the crisisPosted:13/05/2010 20:05 GMT by NeedToKnowNews
  Government can
• President Obama remarks in Buffalo, NY - in partPosted:13/05/2010 20:02 GMT by NeedToKnowNews
  ..."we are heading in the right direction. Those tough steps we took
• Toyota comments on opening MultiDistrict Litigation in Santa Ana, CAPosted:13/05/2010 19:58 GMT by NeedToKnowNews
  Toyota is confident the legal process will be conducted with integrity and fairness. During the course of these proceedings, we will hear a number of claims and charges, some made in court and others made outside the legal guidelines of the courtroom. Recently we have seen instances where the facts did not support the initial claims and sensational reports. In the best interests of all those involved, it
• EU's Barnier says EU/US need to be in step on derivatives reform but says bank/swaps not as big a problem in EuropePosted:12/05/2010 19:35 GMT by NeedToKnowNews
• President Obama statement on Financial Regulatory Reform - White HousePosted:12/05/2010 19:12 GMT by NeedToKnowNews
  Throughout the debate on Wall Street reform, I have urged members of the Senate to fight the efforts of special interests and their lobbyists to weaken consumer protections. An amendment that the Senate will soon consider would do exactly that, undermining strong consumer protections with a special loophole for auto dealer-lenders. This amendment would carve out a special exemption for these lenders that would allow them to inflate rates, insert hidden fees into the fine print of paperwork, and include expensive add-ons that catch purchasers by surprise. This amendment guts provisions that empower consumers with clear information that allows them to make the financial decisions that work best for them and simply encourages misleading sales tactics that hurt American consumers. Unfortunately, countless families
• President Obama sends Legislation to the Hill to address Deepwater Spill - Fed govt pursuing full compensation from responsible partiesPosted:12/05/2010 17:21 GMT by NeedToKnowNews
  "the President today sent Congress a legislative package that will: enable the Deepwater Horizon Oil Spill response to continue expeditiously, speed assistance to people affected by this spill, and strengthen and update the oil spill liability system to better address catastrophic events. While we are asking for additional funds in some cases, the federal government will not relent in pursuing full compensation from the responsible parties for the expenses it has incurred and for the damage caused by the spill. We will do everything in our power to protect our natural resources, rebuild what has been damaged, and help the Gulf region to persevere as it has done so many times before."
• White House to send legislation to Congress to "toughen, update caps on damages; support fishing industry, workers, give Federal Agencies additional authority to respond to disasters like Deepwater"Posted:12/05/2010 14:34 GMT by NeedToKnowNews
  White House to send legislation to Congress to "toughen, update caps on damages; support fishing industry, workers, give Federal Agencies additional authority to respond to disasters like Deepwater"
• Shapiro - talking circuit breakers as interim steps; must consider additional stepsPosted:11/05/2010 20:52 GMT by NeedToKnowNews
• SEC 's Sharpiro says over 100 people working on issue (last Thursday meltdown); so far, no fat finger; so far, no unusual trades; so far, emini trade does not necessarily trigger movementsPosted:11/05/2010 20:49 GMT by NeedToKnowNews
  Have not identified hacker or terrorist activity. We may find that a confluence of events caused sell-off.
• Congressman Bachus says last week's equity market rout gives the SEC "political clout" to push through changes to marketsPosted:11/05/2010 20:28 GMT by NeedToKnowNews
  Congressman Bachus says last week's equity market rout gives the SEC "political clout" to push through changes to markets
• SEC, CFTC will present preliminary findings to Congress re market rout last Thursday - cftcPosted:11/05/2010 19:50 GMT by NeedToKnowNews
• PM Brown Resigns - CABLE up 137 pips at 1.4986Posted:11/05/2010 19:24 GMT by NeedToKnowNews
• IMF's Strauss Kahn says the only way to fight of speculation is to help countries in predicaments such as GreecePosted:11/05/2010 18:24 GMT by NeedToKnowNews
• Landrieu asks Transocean boss if they are "too big to be safe" at GOM spill hearing on the HillPosted:11/05/2010 18:21 GMT by NeedToKnowNews
  Landrieu asks Transocean boss if they are "too big to be safe" at GOM spill hearing on the Hill
• Durbin on Senate Floor - requests floor debate on Credit Card fees; we need "fair and reasonable fee for credit, debit card use"Posted:10/05/2010 20:03 GMT by NeedToKnowNews
  Durbin on Senate Floor - requests floor debate on Credit Card fees; we need "fair and reasonable fee for credit, debit card use"
• White House has been engaged in Europe/Greek crisis "for some time"; so far, happy w/ Europe rescue efforts - White HousePosted:10/05/2010 19:53 GMT by NeedToKnowNews
  White House has been engaged in Europe/Greek crisis "for some time"; so far, happy w/ Europe rescue efforts - White House
• Plosser - 1% rate would still be "very accomodative" - CNBCPosted:10/05/2010 16:07 GMT by NeedToKnowNews
  Plosser - 1% rate would still be "very accomodative" - CNBC
• Plosser - not necessarily ready to move from zero bound - CNBCPosted:10/05/2010 16:04 GMT by NeedToKnowNews
• Plosser - some contagion concern re Europe but recession in Europe doesn't mean recession in U.S. - CNBCPosted:10/05/2010 16:00 GMT by NeedToKnowNews
• Plosser - at the end of the day...will Europe follow through on their pledges? CNBCPosted:10/05/2010 15:57 GMT by NeedToKnowNews
• President Obama, potential Supreme Court Nominee appear together at 10am EST - White HousePosted:10/05/2010 14:31 GMT by NeedToKnowNews
  USA today points out that Kagan served in an advisory capacity for out of favor financial firm GS. Full article here
• SEC still "scrambling for information" on Friday night regarding massive sell-off according to U.S.Senator on CNBCPosted:10/05/2010 14:07 GMT by NeedToKnowNews
  SEC still "scrambling for information" on Friday night regarding massive sell-off according to U.S.Senator on CNBC
• GS admits they are under investigation on transactions with LEH, BSC, AIG - sourcesPosted:10/05/2010 12:40 GMT by NeedToKnowNews
• FED perhaps sees U.S. Bank exposure to Greece as manageable - cnbcPosted:07/05/2010 15:34 GMT by NeedToKnowNews
• Greece problems may stave off sale of Assets from FED Balance Sheet - CNBCPosted:07/05/2010 15:31 GMT by NeedToKnowNews