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The Wall Street Journal reports that US officials will unseal charges against three hedge-fund portfolio
managers and a technology analyst in a large insider trading probe, prosecutors
said. The charges against two of the portfolio managers also include obstruction
of justice, federal prosecutors in Manhattan said.
The Journal said one of the three portfolio managers against whom charges are to be announced
includes Samir Barai, who founded New York-based Barai Capital Management in
2008 after leaving Citigroup’s hedge-fund unit, a person familiar with the
Manhattan US Attorney Preet Bharara and Robert Khuzami, the Securities and
Exchange Commission’s director of enforcement, are scheduled to announce the
charges at noon in Manhattan.
China: China's central bank
announced Tuesday that it would hike its benchmark deposit and
lending rates by 0.25 percentage point each effective Wednesday, in its latest
effort to curb credit growth.
The People's Bank of China said it will raise the one-year yuan
lending rate to 6.06% from 5.81%, and the one-year yuan deposit rate to 3.00%
The PBOC began raising rates for the first time in nearly three years in Oct and
A financial services firm based at Shannon plans to cut a quarter of its
Lloyds Banking Group, the owner of the
St Andrew's Group, confirmed plans to cut 200
jobs at different locations across its insurance division
and that 80 of those cuts will be at its Shannon operation.
The company manages insurance claims and customer service
on behalf of various brands, such as MBNA, Sainsbury's Bank
and AA Personal Finance.
Last July, the company cut 21 positions.
Discussing whether protests that organized in Tunisia and Egypt will spread to Saudi Arabia, and what impact that could have on oil production in the region, with Ambassador Ed Walker:
Mayo Jobs: Allergan Inc.,
the maker of Botox, today announced that it will locate the manufacture of its
newest medical technology, SeriScaffold, at its manufacturing facility in
Westport, Co Mayo, Ireland. Allergan said "SeriScaffold is a bioresorbable silk-based surgical
scaffold for use in tissue generation in numerous therapeutic areas, including
Preparation for the transfer of the manufacturing process will commence in 2011
and represents a $10m at the Westport site. Full commercial
production will relocate to Ireland from Boston in late 2013, creating
approximately 20 new jobs at the Allergan, Co. Mayo facility.
Allergan Pharmaceuticals in Ireland currently employs approximately 860 people
at its manufacturing facility in Westport and at its European Support Centre in
INM: Independent News and Media is reported to be
planning to have Associated
Newspapers Ireland expelled from the industry representative
group National Newspapers Ireland.
Associated Newspapers Ireland publishes the Irish
Daily Mail and the Irish Mail On Sunday.
follows the Irish Mail On Sunday's decision to
print some of its weekend editions with a coversheet
designed to look like the front page of the Sunday Tribune.
INM is a 29.9% shareholder in the Tribune, which is in
Robert Parker, senior advisor at Credit Suisse, says prospects of a weaker yen and low price-to-book ratios for Japanese corporates will benefit the country's equity market this year. He tells CNBC's Martin Soong & Saijal Patel that he's forecasting positive inflation in Japan by mid-year:
In New York Tuesday, the Dow
rose 36 points or 0.29% to 12,197.
500 has risen 18% and the Nasdaq has added 0.03%.