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NYSE Euronext underlined the importance of its derivatives and technology businesses over traditional cash equity trading via revealing its operating margins for NYSE Liffe for the first time.
The figure is much higher than the margins normally generated by exchanges from the business of cash equities trading. It indicates how acquiring or growing derivatives businesses has [...]
Adrian Brass’s performance record over the past two years seems to support the old assumption that stubbornness, or conviction, as it is often called, is an essential quality in fund management.
In 2008, the Fidelity manager underperformed the S&P 500 by 5% in the Luxembourg-based America fund he runs. He attributes this failure to his stockpicker [...]
* Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 2.1-2.4 percent, pointing to a sharply lower start on Wall Street.
* General Electric is due to report fourth-quarter earnings, closing out a brutal year that saw its shares lose more than half their value. The market [...]