U.S. House Democratic leaders expressed optimism Thursday that a revised $700 billion financial industry rescue bill passed by the Senate will clear the House , which rejected the bailout earlier in the week and rocked financial markets worldwide.

UBS AG said it is cutting another 2,000 jobs at its troubled investment bank andclosing most of its commodities business but will remain a universal bank and will not quit investment banking completely.

Actuarials Holdings, a Chicago-based company has launched a new derivative that eliminates tail risk. The product is called a Clipper, as it clips the investment's downside potential as well as caps its upside potential.

Credit Suisse has appointed Andrew Norman and Nick Selvaratnam as Co-Heads of Equities Australia. They will succeed David Trude, who is retiring after 25 years with the Bank. Both Norman and Selvaratnam are managing directors at Credit Suisse in Australia

The over the counter (OTC) wholesale financial markets successfully handled increased demand during the month of September, according to ICAP, an interdealer broker. In the OTC spot FX market, average daily electronic broking volumes on ICAP's EBS platform in September

In a just-released statement, Citi has challenged Wachovia's plan to merge with Wells Fargo, claiming a breach of the "exclusivity agreement" Citi and Wachovia made on Monday. According to Citi, its agreement with Wachovia "provides, among other things, that Wachovia

Newedge, a global brokerage, has posted the monthly performance data for its Alternative Edge Short-Term Traders and CTA Indices. The AlternativeEdge Short-Term Traders Index (STTI) finished the month of September up 2.12% (11.3% YTD), while continuing to maintain its low

Telepresence, high definition video conferencing and mobile video solutions provider TANDBERG (Oslo) rolled out its Telepresence T3, a telepresence solution that delivers an "across the table" meeting experience while enabling seamless interoperability with standards-compliant video systems, says the firm. The

The Depository Trust & Clearing Corporation (DTCC) has been appraised at a Capability Maturity Model Integration (CMMI) Level 3, the only U.S. financial services organization to have achieved this rating across its entire enterprise. This internationally-recognized assessment from the Software

BGC Partners, an inter-dealer broker, has merged its operations in France into a new entity to be known as Aurel BGC. The merger of the entities follows the acquisition by BGC of ETC Pollak and Aurel Leven in 2005 and

Two comedians who don't share the House Finance Committee Chairman's conviction that a revised financial bailout bill will pass today, took matters into their own hands, as this video shows. Jason Selvig and John Anderson, members of a troupe, whose

In the past, corporate and investment banking businesses experienced strong, long-term growth. Despite market crises over the past 20 years, revenues have seldom fallen for more than a year, and the industry has always been able to grow back to

Audi and Infiniti roll out sporty models, hoping baby boomers bite even in a tough economy.

Starbucks aims to get its buzz back -- and its stock up -- with new products.

Congress finally passed a bailout plan. But exchange-traded funds sold off anyway.

FFastFill, a provider of application services to the electronic trading community, is the first Independent Software Vendor (ISV) to pass conformance requirements with BGC US Treasury (UST) markets via the BGC Vendor Partnership Program. FFastFill can now offer its clients

Troubled insurer AIG announced today that it will refocus on its core P&C insurance business and that it intends to sell many of its other businesses in an effort to repay the outstanding balance on its $61 billion loan from

This morning, in a surprise announcement, Wells Fargo (San Francisco) announced it will be acquiring Charlotte-based Wachovia in a $15 billion stock swap, throwing a monkey wrench in Citi's aspirations to buy the financial institution, as was announced last week

Markit, a financial information services company that owns the Markit LCDX index, has postponed the roll of the index into Series 11 pending the launch of a market standard non-cancellable single name loan credit-default swap (CDS) contract. Loan CDS dealers

The fate of the U.S. financial rescue package hangs in the balance on Friday with a new version of the bill reaching the House floor at some point during the day. The second vote comes after Congress rejected the original