The European Commission investigation into possible oil price manipulation extended beyond three major companies to a smaller niche trading house, while a Finnish refinery said it had been asked for information.
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A broader probe into the entertainment of trading clients by other brokers at Tradition, majority-owned by French financial-services company Viel & Cie found evidence that some Tradition brokers hired prostitutes for traders, and took the traders to an outfit called Lady Marmalade Adult Parties, say people familiar with the investigation.
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A software glitch knocked out trading on the largest U.S. options exchange for more than three hours Thursday, raising fresh questions about the reliability of critical elements of the financial market.
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Germany and five other European Union states have reportedly urged EU lawmakers to approve proposals for backloading emissions trading allowances, in order to prop up carbon prices and sustain “a central instrument of EU-wide climate protection”.
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Mt. Gox, the largest exchange for buying and selling bitcoins, is temporarily shutting down following an uptick in activity on the site sparked by a massive drop in the digital currency’s price.
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The portion of all stock trading taking place away from the public exchanges hit new highs over the last few weeks, amounting to close to 40 percent on several days, up from an average of 16 percent in 2008, according to Rosenblatt Securities.
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As the currency marches ahead, applications range from donations to gambling.
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The future is murky for former NJ governor and fallen financial titan Jon Corzine. Two directors of the National Futures Association will move tomorrow to ban Corzine from the multibillion-dollar futures trading industry in light of the scandalous collapse of MF Global, the commodity futures brokerage firm Corzine once headed.
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US regulators investigating potential insider trading in Thursday’s bn takeover of Heinz have asked a court to freeze the Swiss (?) bank accounts of unnamed traders who may have speculated on the deal before its announcement.
bertb news feed
China surpassed the U.S. to become the world’s biggest trading nation last year as measured by the sum of exports and imports of goods, a milestone in the Asian nation’s challenge to the U.S. dominance in global commerce that emerged after the end of World War II.
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