PFGBest CEO Arrested By FBI For Making False Statements To Regulators
Russell Wasendorf Sr., the founder and CEO of failed futures brokerage PFGBest, was arrested on Friday, five days after his suicide attempt brought to light allegations of a massive fraud, authorities said.
US Probing Failed Broker PFGBest's Use Of Small Auditor
U.S. futures industry investigators are looking into why Iowa-based collapsed brokerage PFGBest used a tiny accounting firm that appears to be operating from inside a suburban Chicago home to audit its books, according to a person familiar with the matter.
PFG Collapses In MF Global-like Debacle; Broker Rues Lack Of Caution, Oversight
Financial professionals reeled Wednesday after the now-collapsed futures merchant PFG (Peregrine Financial Group Inc.), whose troubles bear an unnerving similarity to MF Global's woes, left as much as $200 million unaccounted for and PFG clients kicking themselves for ignoring the warning signs.
Broker Missing $220M In Client Funds; Founder Attempts Suicide
More than $200 million in customer funds appears to be missing from the accounts of futures broker PFGBest, regulators said Monday just hours after the firm's founder attempted suicide outside the company's Iowa headquarters.
Commodities Battered On Global Sell-Off, Strong Dollar
Agricultural commodities, and in particular so-called softs like sugar and coffee, fell hard Wednesday as investors, eyeing the euro zone crisis, priced in the potential fallout on consumption of U.S. farm exports.
After MF Global, traders hold tight to excess collateral
Until last October, farmers and fund managers rarely lost sleep over the extra money that they habitually maintained in their brokerage accounts, confident that it would be there the next morning.
Insight: Two firms flourish in frenzied MF Global aftermath
The mad rush to move client money out of MF Global Inc. after its collapse left two firms with the bulk of customer accounts, while other brokerages emerged with only minor gains from the chaos of carving up a multibillion-dollar business.
Price of Oil Falls on Economic Concerns, Weakening Demand
Oil prices fell on Friday, pressured by economic uncertainty ahead of a possible debt deal in Greece, concerns about China's sluggish manufacturing sector, and weak U.S. petroleum demand.
Oil Prices - Neither Bulls Nor Bears Able to Make Conclusive Case
Oil, the lifeblood of the global economy, has plunged more than 10 percent in the past five days, to about $93 per barrel Friday, and the compelling question for investors and motorists alike is -- in early 2012 where does oil head?
Gold Prices Lower on Eurozone Progress
Gold prices fell Monday after European leaders and Italy's new head of state produced specific plans for containing their sovereign debt crisis.
Gold Prices End Week up 3.9%, Other Precious Metals Gain
Gold prices concluded a stellar week Friday with a modest gain as prospects of fresh support for weak Eurozone members and short covering offset profit taking.
Gold Climbs 1.4% as Eurozone Leaders Take Drastic Action
Gold prices surged Monday along with equities on hope that drastic action by France and Germany can save the Eurozone from its two-year-old sovereign debt crisis.
Gold Prices Test $1,750/Ounce Support
Gold prices recouped big early losses Thursday to start Comex floor trading about one percent down as the U.S. dollar fell against the euro on hopes a new Italian and Greek governments may pave the way for Europe to avert a recession.
Commodity trading chill lifts, MF Global angst remains
Commodity trading slowly returned to normal on Tuesday as MF Global resumed selling off client positions, although new revelations about missing money sent chills through the markets.
SpongeBob SquarePants Silver Coins to be Sold in Sets of Four
SpongeBob SquarePants and his friends have teamed up with Nickelodeon, PFG Precious Metals and New Zealand Mint to strike 100,00 pure silver coins, each featuring the likeness of one of the most popular Bikini Beach characters.
Dollar, Dollar-Related Assets Soar, Precious Metals Fall
Gold fell Monday in midday trading as investors decided to diversify their safe-haven opportunities by increasing their holdings of U.S. Treasuries, the dollar and the Japanese yen, said George Cocalis, senior market strategist for PFGBEST.
Instant view: Bernanke offers no new measures in speech
Federal Reserve Chairman Ben Bernanke on Friday stopped short of signaling further action to boost growth, but said it was critical for the economy's health to reduce long-term joblessness.
Libya Unrest a Boon for Oil Bulls
Investors bullish on the oil market are getting support from the uncertainty in Libya.
Oil Prices Drop on Fear of Unknowns
Leadership is what America desperately needs because investors are trading more on fear instead of on facts.
Oil slumps 5 percent, U.S. downgrade stokes economy angst
Oil plunged 5 percent on Monday, crashing below technical support levels as the reduction of the top-tier U.S. credit rating hammered markets and stoked concerns of an economic slowdown.
Oil slumps 6 percent, U.S. downgrade stokes econ angst
Oil plunged 6 percent on Monday, crashing below technical support levels as the reduction of the United States's top-tier credit rating hammered markets and stoked concerns of an economic slowdown.
Oil slumps 3 percent, U.S. downgrade stokes economic angst
Oil dropped 3 percent on Monday, crashing below technical support levels as the reduction of the United States's top-tier credit rating hammered markets and stoked concerns of an economic slowdown.
Oil drops 3 percent after U.S. downgrade
Oil dropped 3 percent on Monday, crashing through technical support levels as the reduction of the United States's top-tier credit rating by Standard & Poor's hammered markets and stoked concerns of an economic slowdown.
Oil falls more than 3 percent after U.S. downgrade
Oil dropped more than 3 percent on Monday, as worry about an economic slowdown spread after Standard & Poor's cut the United States' top-tier credit rating late on Friday.
Brent falls as euro zone woes, dollar pressure
Brent crude prices fell on Friday in choppy trading as Europe's debt problems helped the dollar index rebound, extending oil's decline a second day after consuming nations announced they were tapping strategic reserves.
Oil falls as euro zone woes, dollar pressure
Crude oil fell on Friday in choppy trading as Europe's debt problems helped the dollar index rebound, extending losses into a second day after consuming nations announced they were tapping strategic reserves.
Oil rises after U.S. inventory report
Oil turned higher on Wednesday with Brent crude climbing above $113 a barrel after weekly U.S. government inventory figures an unexpected draw in stocks of distillates, which include heating oil and diesel
Oil rises on Goldman forecast hike, but trade choppy
Oil rose on Tuesday in choppy trading after Goldman Sachs raised its price forecasts for Brent crude, saying demand from economic growth will eat into stockpiles and OPEC spare capacity.
Oil down 4 percent, gasoline drop briefly halts U.S. trade
Oil prices tumbled 4 percent on Wednesday, dragged down by a plunge in gasoline futures that triggered a brief halt in trade on the New York Mercantile Exchange.
Oil jumps as bargain hunters buy, gasoline supports
Oil rallied more than 4 percent on Monday, rebounding as last week's record double-digit losses attracted bargain hunters and as equities markets remained stabilized after last week's strong U.S. April jobs report.