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Insight: Knight's Joyce gets reprieve but new owners want answers
Aug 10th, 2012
(Reuters) - Through a weekend of deal-making, Thomas Joyce averted the collapse of Knight Capital, the trading firm he has overseen for a decade. Now he has to prove to his rescuers - many of them friends from his long Wall Street career - that he is still the right person to lead it. The consortium of financial firms that ponied up $400 million to keep Knight Capital Group Inc operating did so without knowing exactly what went wrong during the 45 crazy minutes on August 1 when Knight's computers ran amok and racked up billions of dollars in errant stock trades. ... (Source: Reuters) -
By Dan Wilchins (Reuters) - Over the past few years, Citigroup Inc has been grappling with an unusual problem - how to incur more U.S. taxes. The third-largest U.S. bank tried to buy the foundering Wachovia Corp in the fall of 2008 in part because the deal would have brought it more taxable domestic income, a person familiar with the matter said. .... [Full Article]
LUXEMBOURG (AP) - The European Union has overcome French objections to agree on a free trade negotiating mandate for sweeping talks with the United States meant for next week. (Source: Associated Press)... [Full Article]
MAASTRICHT, Netherlands (AP) - Owners and staff of three cannabis-selling cafes went on trial Wednesday in the southern Netherlands charged with selling weed to foreigners, in a case both sides of a heated drug debate in this border city hope will clarify the legality of a clampdown on so-called "coffee shops." (Source: Associated Press)... [Full Article]
By Deborah Zabarenko WASHINGTON (Reuters) - NASA called on backyard astronomers and other citizen-scientists on Tuesday to help track asteroids that could create havoc on Earth. The U.S. space agency has already identified 95 percent of the potentially planet-killing NEOs - near Earth objects - with a diameter of .62 miles or more, a size comparabl... [Full Article]
By Claire Davenport BRUSSELS (Reuters) - The European Union's chief justice official has written to the U.S. attorney general demanding an explanation for the collection of foreign nationals' data through its Prism spy program. In a letter seen by Reuters, the European commissioner for justice and fundamental rights, Viviane Reding, said ... [Full Article]
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