TT’s Top Headlines: BOA layoffs, Buffet’s Viral Op-Ed, Brokers on HFT

If ever there was a good time to start a weekly round-up of top news headlines for the week – we believe it would fall right around now. Volatility seems to be par for the course these past few weeks, and the markets are still uncertain of what it all means. We at TradeTech wanted to provide a quick, easy way for you traders to check in with the latest headlines every Friday, before you head off for the weekend and attempt to put work behind you (though we know you’re checking those international markets from your BBerry’s on the beach.) Here’s this week’s roundup – complete with a toss-in of Warren Buffett’s article on taxing the super-rich, which has gone astonishingly viral, astonishingly quickly. Let us know what your favorite stories were in the comments section below – and look out for the next roundup next Friday. Enjoy the weekend!

U.S. Shares Waver After Drops in Asia and Europe
By CHRISTINE HAUSER and JACK EWING
August 18, 2011
Stock market turmoil continued to sweep financial markets worldwide Friday, under pressure from data showing slower economic growth and questions about the ability of banks and governments to cope…

Bloomberg: Volatile markets not a problem
August 19, 2011
(CBS News) New York City Mayor Michael Bloomberg says recent volatility in U.S. and European stock markets will self-correct, and that the plunge in the Dow Jones average isn’t even the issue.

Bank of America Layoffs Continue
August 19, 2011
By DEALBOOK
The pain continues at Bank of America. The beleaguered financial firm, which continues to struggle under the weight of bad mortgage assets, is planning to cut 3,500 jobs, on top of the 2,500 reductions…

Brokers argue true impact of HFT remains unclear
by Michelle Price
19 Aug 2011
Banks and dealers have called for more research into high frequency trading, warning in a letter to global watchdog the International Organisation of Securities Commissions that the impact…

Stop Coddling the Super-Rich
By WARREN E. BUFFETT
August 14, 2011
OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.

Insight: The madness of Wall Street
By Matthew Goldstein, Lauren Tara LaCapra, Jennifer Ablan and Joseph Giannone
Aug 19, 2011
(Reuters) – The best thing to be said of the recent stomach-churning turmoil on Wall Street is that it’s taking place in August, a time of year when many people are lounging…

High-Frequency Firms Tripled Trades Amid Rout, Wedbush Says
By Nina Mehta
August 12, 2011
The stock market’s fastest electronic firms boosted trading threefold during the rout that erased $2.2 trillion from U.S. equity values, stepping up strategies that profit from volatility, according to…

 

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