March 5, 1991 |
One of the largest commodity fraud cases in U.S. history ended in federal court Monday, with the founders of International Trading Group Ltd. agreeing to settle with customers and the Commodity Futures Trading Commission. U.S. District Judge Ronald S. W. Lew approved a settlement offered by brothers David C. and Bruce R. Beare, principals of ITG. The deal calls for any remaining assets of ITG to be distributed to customers.
September 23, 2009 |
NEW YORK -- Stocks are rising in early trading as commodities rebound ahead of the Federal Reserve's meeting on interest rates. Commodities like oil and gold are also bouncing back Tuesday from the previous day's sell-off amid a weaker dollar. The gains in stocks and commodities come as the Fed prepares for a two-day rate-setting meeting. Investors are hoping the Fed will offer up a clearer picture of the economic recovery, as well as some indication of when it may decide to raise interest rates, though it's expected to keep rates near zero for the time being.
March 19, 1985 |
Foreign currencies gained substantial strength against the U.S. dollar Monday, supporting precious metals and commodities that comprise major export markets, as investors' faith in the dollar was eroded by the troubles of Ohio savings and loans. Gold futures prices posted their biggest single-day gain of the year on the Commodity Exchange in New York, and soybean futures rallied on the Chicago Board of Trade. The Commodity Research Bureau index gained 1.7 points Monday, closing at 240.4.
November 28, 1985 |
Rational people should treat sex just like any other commodity, according to an economist at the National University of Singapore. Euston Quah wrote in the latest issue of the monthly Singapore Business that people should "choose that quantity of sexual experience that will maximize his or her net gains." "There are costs to having sex," he said, "and these costs increase as sexual experiences increase.
July 2, 1986 |
Corn futures prices plunged sharply Tuesday and pulled most other farm commodity prices lower on the Chicago Board of Trade. The July corn contract slumped just short of the 10 cent-a-bushel limit for daily trading and brought prices 25 cents below what they were a week ago. "Basically it's a weakness in the cash market that's undermining the July delivery," said Dale Gustafson, an analyst with Drexel Burnham Lambert.
January 21, 1989 |
Shortly before 11 p.m. on Wednesday, a commodities trader sleeping in his Gold Coast apartment was jarred awake by the telephone. "This is the FBI. Be down in your lobby in 10 minutes," ordered the agent, calling from a car phone. When the frightened trader arrived in the lobby of his expensive building, waiting for him were two FBI agents and a man he had known for the last year as a fellow trader working at the Chicago Mercantile Exchange.
August 4, 1989 |
Up to a third of the 46 commodities traders and brokers indicted for allegedly cheating customers at the Chicago Board of Trade and the Chicago Mercantile Exchange have agreed to cooperate with federal prosecutors, defense attorneys said Thursday. While the level of cooperation is greater than previously known and strengthens the government's case, legal experts say that a number of hurdles remain in the way of both prosecution and defense lawyers.
December 1, 1987 |
The stock market's steep drop helped push livestock, meat and cotton futures down their daily limits Monday, but most other commodities reacted to fundamental market factors more than to outside influences. Stock index futures retreated, soybean and corn futures closed lower and wheat futures advanced. Also, gold gained while the other precious metals declined and energy futures retreated.