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  • Wall Street Reshuffle Continues - 22 September 2008
  • Continuing with the extraordinary restructuring taking place on Wall Street, such as has not been seen since the Great Depression, the Federal Reserve confirmed on Sunday 21 September that it has approved the request received from the country’s remaining two major investment banks, Morgan Stanley and Goldman Sachs, to change their status to that of “bank holding companies”. Moreover, Barclays PLC has been given the go-ahead by a bankruptcy judge to acquire Lehman Brothers’ investment banking and trading business.

  • U.S. Federal Reserve Puts AIG Rescue Plan into Action - 17 September 2008
  • In the face of American International Group’s failure to raise much-needed capital, and the reluctance of the private sector in throwing a life-line to the company, the U.S. Federal Reserve has stepped in with a loan of as much as $85 billion in return for a 79.9 percent stake in AIG. Treasury Secretary Henry Paulson noted that the Federal Reserve made the right move with regard to assisting AIG to continue meeting its obligations, which at the same time protects American taxpayers and to an extent allays fears of broader disruptions.

  • Market Responds Positively to Billionaire Slim’s Investment in New York Times - 12 September 2008
  • New York Times shares rose by 9.1percent to $15.23 at 4:15 pm on Thursday after it was revealed that 6.4 percent of the publisher’s publicly traded stock has been bought by Carlos Slim Helú. The Mexican billionaire is reportedly the second richest man in the world and has earned a reputation for having an eye for value, which likely prompted the rise in the share price as investors may have perceived his purchase to be a sort of ‘stamp of approval’ on the New York Times.

  • Freddie Mac and Fannie Mae Placed Under U.S. Government “Conservatorship” - 9 September 2008
  • In what has been described as the world’s biggest emergency nationalization ever, the U.S. government stepped in once again to rescue ailing mortgage giants Freddie Mac and Fannie Mae. However, this time round it is not just a bail out, but a complete take-over, or what authorities are calling a “conservatorship”. Understandably, Freddie Mac and Fannie Mae shares took a plunge, but the general market rally yesterday may indicate that many investors are hopeful that this move by the federal government could mean the end of the ongoing credit crunch.

  • Alexander & Baldwin Move Over to the NYSE - 5 September 2008
  • Honolulu-based Alexander & Baldwin Inc. has announced its intent to move the trading of its stock from NASDAQ to the New York Stock Exchange (NYSE), effective 1 October under the new ticker symbol of “AXB”. While not neglecting to thank NASDAQ for its past support, chairman and chief executive officer of Alexander & Baldwin, Allen Doane expressed his confidence that this move would provide an efficient and visible platform for the company’s shareholders.

  • LSE Faces Increasing Competition in Pan-European Market - 1 September 2008
  • With Monday 1 September marking the beginning of the first full week of operation for the new trading platform Turquoise, chief executive, Eli Lederman, conceded that the Turquoise team is pleased with how quickly the market is responding to their services, but noted that they have been paying close attention to stability, reliability and performance and that market share will follow. He anticipates that the company will exceed its initial goal of capturing five percent of market share by the end of the year.

  • Increase in De-listings and Decrease in IPOs Cuts into Revenue of U.S. Exchanges - 28 August 2008
  • Since the beginning of the month news of non-compliance notifications being issued to NASDAQand NYSE listed companies has become almost commonplace. Failure to meet minimum listing requirements results in being de-listed, which in turn results in reduced revenue for the two U.S. exchange operators. Add to this the fact that the Initial Public Offering (IPO) market has slowed down dramatically and it stands to reason that NASDAQ and NYSE will be feeling the pinch to some degree.

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