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Mar 27, 2015

Exclusive: Upset by Warren, U.S. banks debate halting some campaign donations

NEW YORK (Reuters) – Big Wall Street banks are so upset with Democratic Senator Elizabeth Warren’s call for them to be broken up that some have discussed withholding campaign donations to Senate Democrats in symbolic protest, sources familiar with the discussions said.

Representatives from Citigroup, JPMorgan, Goldman Sachs and Bank of America, have met to discuss ways to urge Democrats, including Warren and Ohio Senator Sherrod Brown, to soften their party’s tone toward Wall Street, sources familiar with the discussions said this week.

Mar 27, 2015

Upset by Warren, US banks debate halting some campaign donations

NEW YORK, March 27 (Reuters) – Big Wall Street banks are so
upset with U.S. Democratic Senator Elizabeth Warren’s call for
them to be broken up that some have discussed withholding
campaign donations to Senate Democrats in symbolic protest,
sources familiar with the discussions said.

Representatives from Citigroup, JPMorgan,
Goldman Sachs and Bank of America, have met to
discuss ways to urge Democrats, including Warren and Ohio
Senator Sherrod Brown, to soften their party’s tone toward Wall
Street, sources familiar with the discussions said this week.

Mar 19, 2015

Jeb Bush lawyer tries to stop radio ads touting Bush campaign

NEW YORK, March 18 (Reuters) – Republican Jeb Bush learned
this week there is a downside to his efforts to prepare for a
possible 2016 White House run while holding off for now on an
official campaign launch.

To avoid creating an impression that Bush was skirting
campaign finance laws, his lawyer had to ask a Florida man to
stop running ads touting the former Florida governor as a
presidential candidate.

Mar 6, 2015

With a nod and a wink, Republicans build 2016 campaign machines

NEW YORK, March 6 (Reuters) – Asked last week about his
agenda if elected, presumptive Republican presidential candidate
Scott Walker began: “Should I choose to be a candidate…”

Then he added with a grin: “My lawyers love it when I say
that.”

Like the other would-be Republican candidates who took the
stage over three days in Washington at the Conservative
Political Action Conference, the Wisconsin governor studiously
avoided mentioning any plans for the 2016 presidential election.

Feb 26, 2015

New Jersey’s Christie to conservatives: ‘I’m still standing’

By Steve Holland and Emily Flitter

NATIONAL HARBOR, Md. (Reuters) – New Jersey Governor Chris Christie addressed head-on questions about his volatile temper on Thursday and dismissed critics, telling a gathering of conservatives: “I’m still standing.”

The potential Republican presidential contender is trying to remain viable for the November 2016 election despite losing some financial donors to rival Jeb Bush. Polls put Christie in the middle of a Republican pack led by Bush and Wisconsin Governor Scott Walker.

Feb 18, 2015

Exclusive: U.S. authorities probe alleged forged letter from Mirach in Sahara deal

SAN FRANCISCO/NEW YORK (Reuters) – Federal authorities in San Francisco are probing U.S.-based Mirach Capital Group, two sources familiar with the situation told Reuters, amid allegations that the group gave a forged bank letter to Indian conglomerate Sahara as part of financing negotiations.

Sahara had sought to borrow more than $1 billion from Mirach to help bail its chairman, Subrata Roy, out of jail in New Delhi. Roy was jailed last year for contempt charges for failing to comply with a court order to repay investors in a bond transaction that was ruled to be illegal.

Feb 5, 2015

Subrata Roy’s get-out-of-jail deal is mired in mystery

NEW YORK/MUMBAI (Reuters) – Subrata Roy, the boss of the Sahara conglomerate, is in a New Delhi prison on contempt-of-court charges and needs to post $1.6 billion in bail to get out. To help raise the money, Sahara is in talks to refinance its overseas hotels, including New York’s Plaza.

The only problem: It’s unclear if the man who’s orchestrating the deal, a 34-year-old former broker named Saransh Sharma, has the money to pull it off.

Feb 4, 2015

Indian tycoon Roy’s get-out-of-jail deal is mired in mystery

NEW YORK/MUMBAI, Feb 4 (Reuters) – Subrata Roy, the boss of
Indian conglomerate Sahara, is in a New Delhi prison on
contempt-of-court charges and needs to post $1.6 billion in bail
to get out. To help raise the money, Sahara is in talks to
refinance its overseas hotels, including New York’s Plaza.

The only problem: It’s unclear if the man who’s
orchestrating the deal, a 34-year-old former broker named
Saransh Sharma, has the money to pull it off.

Jan 16, 2015

U.S. sharply reduces Silk Road’s estimated sales volume

NEW YORK, Jan 16 (Reuters) – When U.S. authorities announced
the arrest of Silk Road creator Ross Ulbricht in October 2013,
they made a startling claim: the online black market had seen an
estimated $1.2 billion in illicit sales since its inception.

This week, however, as Ulbricht’s criminal trial began,
prosecutors significantly scaled back that figure, saying Silk
Road had actually seen an estimated $200 million in drug sales,
which comprised 95 percent of all sales on the website.

Jan 13, 2015

US says Canadian man used high-speed trading to manipulate market

NEW YORK, Jan 13 (Reuters) – U.S. authorities opened a new
chapter in policing high-speed stock trading on Tuesday when
they charged a Canadian man with fraud for manipulating stock
prices through a process called “layering,” according to
prosecutors.

The case is the first of its kind to be brought against a
trader in the stock market, the authorities said in press
releases.