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Dec 18, 2015

FDIC Professional Liability Lawsuits - December 18, 2015.


Professional Liability Lawsuits

As receiver for a failed financial institution, the FDIC may sue professionals who caused losses to the institution in order to maximize recoveries. These individuals can include officers and directors, attorneys, accountants, appraisers, brokers, or others. Professional liability claims also include direct claims against insurance carriers such as fidelity bond carriers and title insurance companies.

DealBook P.M. Edition on December 18, 2015: Top Story: JPMorgan to Pay $307 Million for Steering Clients to Own Funds

Friday, December 18, 2015
A broker settlement is a black mark for JPMorgan Chase's asset management division.
JPMorgan to Pay $307 Million for Steering Clients to Own Funds Regulators say that brokers and financial advisers gave preference to investment products created by the bank's asset management division.

Wall Street at Close Report by CNBC on December 18, 2015: Dow Drops 370, Stocks Lower for Week as Oil Slides.

Dow drops 370, stocks lower for week as oil slides

Evelyn Cheng
U.S. stocks closed sharply lower Friday as investors weighed low oil and data in the aftermath of the Federal Reserve's rate hike Wednesday. Options expiration also contributed to volatility.
"In the context of the Fed we've removed some uncertainty. There's still some uncertainty about earnings going forward and you're experiencing that with some volatility in market pricing," said Timothy Hopper, chief economist at TIAA-CREF.

The Dow Jones industrial average traded more than 350 points lower as the close approached. Nearly all constituents declined, with Boeing and Goldman Sachs contributing the most to losses. Disney turned lower, briefly off more than 3.5 percent, after BTIG downgraded the stock to "sell" from "neutral."

CMI Spot Prices as of Close of Trading in New York on December 18, 2015.

Spot Prices as of traditional New York closing times

Friday, December 18, 2015


The Guardian | Opinion - December 18, 2015: They asked For Our Opinion On The NHS. And Then They Didn't Listen by Ann Robinson.

They asked for our opinion on the NHS. And then they didn’t listen | Ann Robinson

Ann Robinson
The government has published its NHS mandate with the accompanying consultation response. You may remember this consultation process. It was the invitation to participate that got lost in the post.
Campaigning groups 38 degrees and OurNHS highlighted the fact that the deadline for the public to comment on the proposed mandate was fast approaching but no one seemed to know about it. Then, I wrote a piece for the Guardian and you shared, commented and crashed the Department of Health (DH) website. There had been 900 responses before the piece, and by the close of play four days later the figure had reached nearly 130,000.

FTC | Scam Alerts - december 18, 2015: Shopping for Cash?

Federal Trade Commission Consumer Information

by Monica Vaca
Assistant Director, Division of Marketing Practices, FTC

Who isn’t looking for a little extra cash at the holidays? An offer for an easy – and fun – job could seem like just what you need. That’s the email offer I got from a major retailer (or so it said) last week:
“Holidays are coming we need you in our team. We are hiring holiday shoppers. No experience needed, just an honest opinion. The job requires you to shop and evaluate our employees. You will get paid to shop and keep the products.”
While there are legit mystery shopper jobs out there, we almost never see them in offers that show up in your inbox. Or in the classified ads. Or on telephone poles. Or on your phone. So, before you apply, here are some things to think about.

Read more >

FDIC Press Release | Joint Release - December 18, 2015: Agencies Issue Statement on Prudent Risk Management for Commercial Real Estate Lending.


Press Release

Joint Release Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
For Immediate Release December 18, 2015

Agencies Issue Statement on Prudent Risk Management for Commercial Real Estate Lending

The federal banking agencies today issued a statement to reinforce prudent risk-management practices related to commercial real estate (CRE) lending.

BLS Economic News Release - December 18, 2015: BLS Nov. jobless rates down in 27 states, up in 11; payroll jobs up in 35 states, down in 14

In November, 27 states had over-the-month unemployment rate decreases, 11 states had increases, and 12 states and the District of Columbia had no change. Nonfarm payroll employment was up in 35 states and the District, down in 14 states, and was unchanged in Montana.

European Markets at Close Report by CNBC on December 18, 2015> European Stocks End Lower< Oil, Metals Eyed.

European stocks end lower; oil, metals eyed

Alexandra Gibbs, Arjun Kharpal, Holly Ellyatt
European markets closed losses on Friday as the sharp rally from the day before lost stream and investors remained cautious on the price of oil.


FTSE FTSE 100 Index 6069.34
-33.20 -0.54% 567687747
DAX DAX Index 10628.53
-109.59 -1.02% 124107300
CAC 40 CAC 40 Index 4632.64
-44.90 -0.96% 139796649
IBEX 35 IBEX 35 Idx 9727.80
-150.70 -1.53% 206839773
The pan-European STOXX 600 closed down, with almost all sectors in the red. London's FTSE was down 0.5 percent, while France's CAC and Germany's DAX were both over 1 percent lower.

U.S. Stock Market Future Indications Update by MarketWatch - December 18, 2015.

U.S. stocks poised for another day in red after oil, Asia tremors

Anora Mahmudova, Sara Sjolin
U.S. stock futures were under pressure on Friday, with investors carefully watching developments in commodity prices and after the Nikkei dropped nearly 2% following a surprise monetary stimulus.
Crude-oil futures, which were trading around their lowest level in nearly seven years, put pressure on energy companies.

The Guardian | World | U.S - December18, 2015: Exclusive: Sanders: Clinton's Pursuit of "Regime Change" In Lybya Helped Rise of Isis by Dan Roberts.

Sanders: Clinton's pursuit of 'regime change' in Libya helped rise of Isis

Dan Roberts
Bernie Sanders has accused Hillary Clinton of encouraging Islamic extremism in Libya, in a prelude to a Democratic debate on Saturday during which he is expected to go on the attack for the first time over the unintended consequences of the former secretary of state’s more interventionist foreign policy.
Speaking to the Guardian in an extensive pre-debate interview, the senator from Vermont criticised Clinton for carelessly fomenting regime change in Libya “without worrying” about the ensuing instability that has helped Islamic State forces take hold in the country.
“Regime change without worrying about what happens the day after you get rid of the dictator does not make a lot of sense,” Sanders said.

Reuters | Deals - December 18, 2015: Zurich To Buy U.S. Crop Insurrer RCIS IN $1 Billion Deal.

Zurich to buy U.S. crop insurer RCIS in $1 billion deal

By John Miller and Brenna Hughes Neghaiwi
ZURICH Zurich Insurance Group AG will pay up to $1.05 billion to buy a U.S. agricultural crop insurer from Wells Fargo & Co, the Swiss company said on Friday.Zurich will buy Rural Community Insurance Services (RCIS) for $675 million, plus excess capital at the date of closing, an amount now estimated at up to $375 million.

NYT First Draft on Politics - December 18, 2015: Democrats Prepare for a Potential Saturday Night Fight.

Friday, December 18, 2015

The New York Times »

The New York Times

Friday, December 18, 2015

The Democratic presidential hopefuls arriving for the debate at Drake University in Des Moines on Nov. 14.
The Democratic presidential hopefuls arriving for the debate at Drake University in Des Moines on Nov. 14. Ruth Fremson/The New York Times
Democrats Prepare for a Potential Saturday Night Fight
Good Friday morning. The Republicans final debate of 2015 is behind them, with the fallout noted, victories proclaimed and new adversaries made. On Saturday, it is the turn of the Democrats, their last chance to score points and draw blood before the Christmas holiday.

DealBook Today's Top Headlines - December 18, 2015: Shkreli Indictment Portrays His Small-Time Fraud | Bill to End Tax-Free Real Estate Spinoffs Approved | Avon to Split Off North American Business.

Friday, December 18, 2015
SHKRELI INDICTMENT PORTRAYS HIS SMALL-TIME FRAUD Martin Shkreli's busy week of live-streaming on YouTube, goading hip-hop groups and threatening to raise drug-prices was topped with a 6 a.m. arrest by F.B.I. agents yesterday, Julie Creswell, Stephanie Clifford and Andrew Pollack report in The New York Times.

U.S. Stock Market Future Indications by MarketWatch - December 18, 2015: U.S. Stocks Poised For Another Day in Red After Oil, Asia Tremors.

U.S. stocks poised for another day in red after oil, Asia tremors

Sara Sjolin
Wall Street was set to continue the downbeat trading on Friday, with investors carefully watching developments in commodity prices and a highly volatile session in Asia that saw the yen jump against the dollar.

European Bank For Reconstruction and Development - December 18, 2015: What US Interest Rate Normalisation Means For The EBRD Region.


What US interest rate normalisation means for the EBRD region

What US interest rate normalisation means for the EBRD region
US Federal Reserve’s decision likely to increase market volatility and cost of funding and may have limited effect on growth
On 16 December 2015, the US Federal Reserve raised its federal funds rate by 0.25 per cent to the target range of between 0.25 to 0.5 per cent. The long-expected hike will likely increase market volatility and the cost of funding in EBRD countries.

The Guardian | Business | Markets | Erozone Crisis: Confusion Over bank of Japan Move Pressures Markets

Confusion over Bank of Japan move pressures markets – live

Julia Kollewe

Asian Markets at Close Report by CNBC on December 18, 2015: Nikkei Ends Down After Wild Ride on BOJ Decision.

Nikkei ends down after wild ride on BOJ decision

Saheli Roy Choudhury

Major markets in Asia closed mostly lower on Friday after wavering between positive and negative territory as investors focused on economic data, central bank decisions and commodity prices.
The Japanese market took a wild ride, erasing early losses and spiking higher briefly after the Bank of Japan said it will increase purchases of exchange-traded funds (ETFs), before retreating back into negative territory.

WSJ | Forex Closing on December 17, 2015.

The Wall Street Journal Forex Closing
Major Currencies
Thursday, December 17, 2015

WSJ | Major Indexes Closing on December 17, 2015.

The Wall Street Journal Major Indexes Closing
Major Indexes 5:45 p.m. EST 12/17/15

WSJ | Biggest Decliners Closing on December 17, 2015.

NYSE Biggest Percentage Decliners | Nasdaq | Arca | Composite

WSJ | Most Actives Closing on December 18, 2015

The Wall Street Journal Most Actives Closing
Most Active Stocks by Volume
4:32 pm ET 12/17/2015

WSJ | Biggest Gainers Closing on December 17, 2015.

The Wall Street Journal Biggest Gainers Closing
Biggest Gainers
4:46 pm ET 12/17/2015