August 4, 2012 |
NEW YORK — Knight Capital Group lurched into the weekend with executives scrambling to find a buyer or secure emergency funding needed for survival. The battered trading firm was said to be meeting with private equity investors and rival financial firms about putting together a deal. Knight has been left cash-strapped after a software glitch caused $440 million in losses from erroneous high-speed trades this week. The brokerage did get a few boosts. Shares skyrocketed 60% on unconfirmed reports Knight secured a line of credit to stay in business through late Friday.
CALIFORNIA | LOCAL
September 12, 2000 |
Independent Capital Management Inc., based in Santa Ana, has signed a five-year lease extension with BKS Camarillo Partners for a 4,000-square-foot office space at Camarillo Business Center. Bill Kiefer of NAI Capital Commercial represented both sides in the transaction.
September 17, 1992 |
A top corporate finance executive has left Cruttenden & Co. to start his own investment banking firm that will help raise capital for biomedical and small technology companies in Orange County. Michael Danzi, 33, recently formed Danzi Capital Group in Irvine, which will specialize in raising cash for technology companies through private equity or debt offerings. "This area is a real hotbed of activity," Danzi said Wednesday.
August 1, 2012 |
NEW YORK - A trading glitch led to some puzzling stock movements on Wall Street, prompting the New York Stock Exchange to cancel some morning trades in six companies' shares. The exchange found "irregular trading" in 148 stocks shortly after the opening bell Wednesday - problems apparently stemming from a technology issue at New Jersey brokerage Knight Capital Group. After conducting a review, the exchange's operator, NYSE Euronext, identified six stocks whose trades "will be busted" if executed at 30% or more above or below their opening prices.
October 11, 1990 |
Would-be investment bankers, stockbrokers and traders of the Soviet Union got a rare chance this week to grill American experts representing the New York Stock Exchange about everything from savings bonds to insider trading. The opening day of a Soviet stock market is at least several months away. But Soviet financiers invited the New York Stock Exchange, that bastion of capitalism, to tell them all they could about buying low and selling high.
April 24, 2009 |
A Los Angeles investment firm run by a well-known Southern California political operative has become ensnared in a widening probe into the fees paid to advisors who help place investments in public pension funds. Wetherly Capital Group has come under scrutiny for a $313,750 payment it made to a firm run by a New York political advisor who was arrested last month on charges of running a kickback scheme involving New York state's pension fund.
May 16, 2009 |
A pension board appointee of Los Angeles Mayor Antonio Villaraigosa may have violated city law by accepting a campaign donation from a Los Angeles businessman whose client sought a $10-million investment from the board. Kelly Candaele, who served until three weeks ago on the board of the Los Angeles City Employees' Retirement System, received $1,000 on Dec. 2 from Dan Weinstein, managing director of Wetherly Capital Group. That firm pitches investments to city and state pension boards.
June 20, 1994 |
A carnival of humanity with soccer as catalyst swept joyfully through the nation's capital Sunday. But Norway short-circuited the fiesta with a late goal that spoiled Mexico's first World Cup game since 1986. The 1-0 final under brutal playing conditions at RFK Stadium--96 degrees at the start of the game--established the credentials of both sides in Group E, the Cup's toughest division.
April 16, 2002 |
General Electric Co.'s huge financing arm said Monday that it is eliminating 7,000 jobs and otherwise slashing costs by $1 billion this year, raising more questions about the unit's stalled growth and the potential effect on GE's overall performance. The job cuts, which equal 8% of the 90,000-person global work force of GE Capital Services, were disclosed by the division's chief financial officer, James Parke, during a meeting with bond analysts in New York.