Finance Matters

The results of the European banking stress tests have been published over the weekend with just over half a dozen of the 91 banks failing the tests.
The Committee of European Banking Supervisors (CEBS) said seven of the banks failed the tests, which were conducted to ease increasing anxiety over Europe’s finance sector.
The banks which failed [...]

It’s important that BP manage its CEO transition smoothly and quickly, given would could be substantial fundraising needs, and it seems they’re doing just that.

WSJ:

BP PLC’s board is set to name managing director Bob Dudley as the company’s new chief executive if, as expected, the board on Monday approves the negotiated departure of current chief Tony Hayward, people familiar with the matter said.

The decision to move toward Mr. Hayward’s departure was “mutual,” these people said. Mr. Hayward has been under heavy fire for his handling of the massive Gulf of Mexico oil spill that followed an April explosion and fire on the Deepwater Horizon oil rig.

That Tony Hawyward would resign imminently was confirmed in vars this morning.ious report

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Gov. Patterson will drop the controversial proposal for an extra tax on non-resident hedge-fund managers. Good thing because HF managers and Mayor Bloomberg thought it was the worst idea ever. Read more >>

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