Boston Bureau Chief
Ros's Feed
Dec 16, 2012

Barclays says FERC manipulation charges won’t hold up

WASHINGTON (Reuters) – Barclays Bank PLC (BARC.L: Quote, Profile, Research, Stock Buzz) has denied that it manipulated electricity markets and predicted in a tersely worded regulatory filing that the U.S. Federal Energy Regulatory Commission’s case, and proposed record penalties, will not hold up in court.

In a filing made late on Friday, a response to a “show cause” order by FERC, Barclays and four of its former traders rejected the commission’s charge that they enacted various schemes in the markets in the Western United States to benefit offsetting swaps positions.

Nov 30, 2012

Lawmakers cry “fowl” over move to help lesser prairie chicken

WASHINGTON (Reuters) – A move by U.S. authorities to consider placing a small grassland bird native to parts of the oil and gas belt on the Endangered Species List has drawn the ire of some Western lawmakers.

The U.S. Fish and Wildlife Service on Friday announced a plan to consider having the lesser prairie chicken listed as “threatened” under the Endangered Species Act.

Nov 30, 2012

US lawmakers cry ‘fowl’ over move to help lesser prairie chicken

WASHINGTON, Nov 30 (Reuters) – A move by U.S. authorities to
consider placing a small grassland bird native to parts of the
oil and gas belt on the Endangered Species List has drawn the
ire of some Western lawmakers.

The U.S. Fish and Wildlife Service on Friday announced a
plan to consider having the lesser prairie chicken listed as
“threatened” under the Endangered Species Act.

Nov 29, 2012

U.S. housing gains momentum but recovery fragile

NEW YORK (Reuters) – The signs of life in the U.S. housing market may be encouraging, but not all money managers are convinced that rising home sales and values can provide serious momentum to the U.S. economy in 2013.

The still unresolved issue of some 10 million underwater mortgages – where the amount owed is larger than the current value of the house – remains a key impediment, said speakers at the Reuters Global Investment Outlook 2013 Summit in New York.

Nov 26, 2012

Jamie Dimon good choice for U.S. Treasury: Baha

NEW YORK (Reuters) – As President Barack Obama casts around for a new U.S. Treasury Secretary, one top bond manager has a suggestion: Forget the London Whale debacle and consider JPMorgan Chase’s (JPM.N: Quote, Profile, Research, Stock Buzz) CEO Jamie Dimon.

Timothy Geithner, who has held the top Treasury post and one of the most powerful positions in world finance since 2009, is expected to leave early in the new year. He will stay through Inauguration Day, January 21, the White House said.

Oct 17, 2012

Moderate earthquake strikes Maine, felt in Boston

BOSTON (Reuters) – A moderate earthquake struck the northeastern U.S. state of Maine on Tuesday shortly after 7 p.m. (2300 GMT), according to the U.S. Geological Survey.

First reported as a 4.5 magnitude quake centered near Lake Arrowhead, the USGS revised the quake’s magnitude to 4.6 and finally down to 4.0.

Oct 16, 2012

Fed’s Raskin: Regulators don’t have “gotcha mentality”

BOSTON, Oct 16 (Reuters) – U.S. financial regulators have
not overcompensated for past behavior in their approach toward
regulation since the financial meltdown of recent years, and do
not approach their work with a “gotcha mentality,” a top Federal
Reserve official said on Tuesday.

“Overcorrection is not preached as best practice in
regulation,” said Federal Reserve Governor Sarah Raskin. “I
haven’t seen overzealous examinations.”

Oct 3, 2012

Bill Clinton fires up Democratic voters in New Hampshire

DURHAM, New Hampshire (Reuters) – Former President Bill Clinton took to the campaign trail in New Hampshire on Wednesday, lending President Barack Obama some firepower in a battleground state that has recently warmed to the idea of a second term for the incumbent.

Hours before Obama takes on Republican challenger Mitt Romney in Denver in the pair’s first nationally televised debate, the 42nd U.S. President fired up a rally at the University of New Hampshire-Durham.

Oct 2, 2012

Testy debate in Massachusetts for key U.S. Senate seat

BOSTON (Reuters) – Democrat Elizabeth Warren’s claim of Native American heritage was once again in the spotlight as she sparred with Republican rival Scott Brown on Monday in the second debate of the pair’s contest for the U.S. Senate seat from traditionally Democratic Massachusetts.

Recent polls show Warren, 63, a Harvard Law School professor and former official in President Barack Obama’s administration, maintains a slim lead over Brown, who swept into the Senate in a special election in 2010 after the death of revered Democratic Senator Edward Kennedy.

Sep 19, 2012

Bayer CEO decries pressure to lower drug prices

Sept 19 (Reuters) – Pressure from governments to lower drug
prices risks undermining medical innovation, Bayer AG’s
chief executive said on Wednesday, echoing complaints
of other drug company executives.

Speaking at the Boston College Chief Executives’ Club,
Marijn Dekkers said there was “tremendous pressure” on
drugmakers to lower prices.

    • About Ros

      "Ros Krasny is Boston Bureau Chief, leading coverage of the New England scene. She was previously a regional Federal Reserve correspondent based in Chicago, and spent many years writing about agricultural commodity markets with Bridge News and Knight-Ridder Financial news."
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