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Trillion dollar kitchen sink

BENJAMIN ONG  |  TUESDAY, 11 MAY 2010
In the words of Coney Francis, "Who's sorry now?" "I tried to warn you somehow You had your way Who's sorry now..." Shocked and awed. Yes, Virginia, this was how speculators felt when they were forced to cover their short positions after the European ...

Market Wrap - Morning

AAP  |  TUESDAY, 11 MAY 2010
The Australian share market has received strongly positive leads from offshore trading overnight, as markets rebounded on optimism following the European rescue plan. At 0657 AEST on the Sydney Futures Exchange, the June share price index contract was ...

Market Wrap - Morning

AAP  |  MONDAY, 10 MAY 2010
The Australian stock market is expected to open lower, after a plunges on most major markets around the world last week. At 0739 AEST on the Sydney Futures Exchange, the June share price index contract was 49 points lower at 4,425 points. In economics ...

Investment managers gain fraud insurance

MICHAEL HOBBS  |  FRIDAY, 7 MAY 2010
... and computer fraud. This type of insurance comes after the now in-famous Jerome Kerviel lost SociA(C)tA(C) GA(C)nA(C)rale close to $7 billion from a series of unauthorised trades in 2008. It is regarded as one of the highest profile fraud cases in history. ...

NASDAQ cancels over 250 trades

NASDAQ RELEASE  |  FRIDAY, 7 MAY 2010
... to cancel all trades that contributed to the market plunge overnight. The Dow Jones Industrial index fell 9 per cent or close to 1,000 points overnight. The Australian Securities Exchange (ASX) was spooked by the events, falling more than 2 per cent ...

Death by algorithm

BENJAMIN ONG  |  FRIDAY, 7 MAY 2010
What does it take to wipe out more than US$1,000,000,000,000 on Wall Street? Punching "B" instead of "M" on your keyboard. Panic set on Wall Street overnight as the Dow went into a freefall to record its worst ever intra-day drop of 998.5 points. Was ...

Market Wrap - Morning

AAP  |  FRIDAY, 7 MAY 2010
... the broader All Ordinaries index lost 93.4 points, or 1.99 per cent, to 4,598.6 points. It was the All Ordinaries' weakest close since February 16 when it finished at 4,590.8. NEW YORK - In one of the most dizzying half-hours in stock market history ...

Market Wrap - Morning

AAP  |  THURSDAY, 6 MAY 2010
The Australian stock market is expected to open lower, after a negative finish on Wall Street and weaker commodities prices during the offshore session. At 0703 AEST on the Sydney Futures Exchange, the June share price index contract was 54 points lower ...

Market Wrap - Midday

AAP  |  WEDNESDAY, 5 MAY 2010
... overnight, the Dow Jones Industrial Average index fell 225.06 points, or two per cent, to 10,926.77 points - its lowest close since April 7. The broader S&P 500 index dumped 28.66 points, or 2.4 per cent, to 1,173.60 points, and the Nasdaq composite ...

Market Wrap - Morning

AAP  |  WEDNESDAY, 5 MAY 2010
... Australia (RBA) also raised the cash rate by 25 basis points to 4.5 per cent, which was widely tipped by economists. At the close, the benchmark S&P/ASX200 index had fallen 48.4 points, or 1.01 per cent, to 4,737.1, while the broader All Ordinaries index ...