INVESTMENT

Merill Lynch settles prop trading charges for $10 mln

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Bank of America Corp's Merrill Lynch unit has agreed to pay $10 million as part of a settlement with the U.S. Securities and Exchange Commission (SEC) that has accused it of fraudulently misusing customer orders so it could trade for its own benefit.
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US Trader nets $5 billion profit last year

Hedge-fund manager John Paulson made a profit of more than $5 billion personally last year which is likely the largest single-year gain in investing history, says a media report.

Who is Allen Stanford?

Texas billionaire Allen Stanford, who is accused of running a massive $7-billion Ponzi scheme, is incompetent to stand trial and must go to a rehabilitation center for addiction to pain medication, a U.S. judge in Houston has ruled. The following are key facts about the disgraced business magnate and a timeline of his legal battle:
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LinkedIn's IPO to test appetite for Facebook

LinkedIn Corp announced plans to go public this year in what could be a test of investor appetite for social networking websites ahead of a highly anticipated Facebook offering.

Borders gets conditional lifeline; shares soar

Borders Group Inc received a financing commitment from GE Capital, providing a potential lifeline to the troubled bookseller, but said it would also explore options, including an in-court restructuring.

China to open up yuan cautiously, boost trade

China will carefully open up its yuan to more trading based on market needs and plans to double its level of imports in five years, its commerce minister said on Thursday, as the country liberalizes its economy, now the world's second largest.
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Gold slides to 3-month low as investment stalls

Gold fell more than 2 percent on Thursday, after a raft of positive economic data from the United States and more hawkish signals from some other central bank officials have sparked speculation that certain major economies would move to raise interest rates sooner than previously thought.
JPMorgan Chase & Co CEO Dimon speaks at the Stanford Institute for Economic Policy Research at Stanford University in Palo Alto

Dimon defends bankers at Davos

Jamie Dimon, the chief executive officer of JP Morgan Chase (NYSE: JPM) defended the banking industry during a question-and-answer session with the media at a symposium at the world economic forum in Davos, Switzerland.
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Kenyan central bank surprises with rate cut

Kenya's central bank cut its benchmark lending rate on Thursday for the first time since July, in a surprise move seen as a bid to curb rising Treasury bill and bond yields.
cocoa

Ghana braced for smuggled Ivorian cocoa

Ghana is on track for a record 800,000-tonne cocoa harvest this season, the head of sector body Cocobod told Reuters on Thursday, adding that any impact from smuggling from neighbouring Ivory Coast was limited so far.

Libya creates $24 bln housing fund:newspaper

Libya has set up a $24-billion fund for investment and local development that will focus on providing housing for its rapidly growing population, the online Oea newspaper reported on Thursday.
A pedestrian walks past the NASDAQ building in New York City

Most Active NASDAQ Movers (BERK, WSB, BSET ACAT, NFLX, HWKN, PNBC, SPAN, SHOR, FFBC)

The top companies trading higher in NASDAQ stock market during Thursday's early session are: Berkshire Bancorp, WSB Holdings, Bassett Furniture Industries, Arctic Cat, and Netflix. The top companies trading lower in NASDAQ stock market during Thursday's early session are: Hawkins, Princeton National Bancorp, Span-America Medical Systems, ShoreTel, and First Financial Bancorp.

Pre-market movers on Jan. 27

The companies whose shares are moving in pre-market trade on Thursday are: Netflix, Teradyne, Qualcomm, Symantec, AT&T, Goodyear Tire & Rubber and Procter & Gamble.

US futures edge higher ahead of economic data

Futures on major U.S. stock indices point to a modestly higher opening on Thursday ahead of economic data including durable goods orders and pending home sales as well as slew of earnings reports.

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