Worldwide News
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Irvin Goldman, who oversaw risks in the JPMorgan Chase & Co. unit that suffered more than $2 billion in trading losses, was fired by another Wall Street firm in 2007 for money-losing bets that prompted a regulatory sanction at the firm, Cantor Fitzgerald LP, three people with direct knowledge of the matter said.
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German and French leaders meet this week to map out a revised plan for the euro as the Group of Eight exposed disagreement on a rescue strategy, Greece lurched toward a possible exit and Spain’s budget deficit widened.
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Stocks rebounded from their worst week since September, U.S. futures rose and Treasuries fell as German and French officials prepared to meet before a summit to map out a new strategy to contain the debt crisis. Commodities gained on speculation China will ease policy to spur growth.
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Bond traders are cutting expectations for U.S. inflation by the most since December, providing Federal Reserve Chairman Ben S. Bernanke the scope for additional stimulus as the central bank’s current effort winds down.
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