Deal could boost debt relief rally (Reuters)

NEW YORK (Reuters)-a deal involving up to 3 billion dollars in deficit cuts over a decade that U.S. lawmakers to raise the limit of U.S. debt and avoid default could spur a relief rally on Wall Street stocks and a rise in the Government of the United States produces on Monday.

Senate Democratic Leader Harry Reid said Sunday he hopes to vote tonight on an emerging deal to raise the debt ceiling of 14.3 billion United States dollars according to the U.S. Senate.

The possibility of an agreement raised hopes that a bitter partisan battle, long weeks over cut the deficit of the United States might be close to a close.

"At this point, the markets are perceiving that an agreement will be announced and a vote," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

The result of an amount of debt will be "a major event in stock," said Krosby. "There will also be an attempt to deconstruct information: where will the austerity. You'll see analysts try to dissect which sectors and companies will be affected by cuts. "

Anxiety over the debt crisis and the U.S. Economic Outlook sent S & P 500 lower last week, resulting in the worst week and month for the index of reference since August last year.

The CBOE volatility index, "Wall Street fear index," rose more than 40 percent, the biggest jump since May.

The United States Treasury prices rallied last week as investors clung to relatively safe debt of the Government of the United States and concluded that a weak economy meant that the Federal Reserve would keep accommodative monetary policy for the foreseeable future.

A stock market rally prompted by a deal the debt ceiling could be restricted, however, outlook uncertain economy of the United States and prospects that might be injured by a ceiling debt plan based on fiscal austerity.

"Once the euphoria of having an affair is over, we will respond to the economy and that image is not a beautiful, said Kevin Giddis, President of fixed income capital markets and Morgan Keegan in Memphis, Tennessee.

Government data released Friday, showed the American economy stumbled badly in the first half of 2011 and came close to contractor in January-March period.

"The market quickly shift the focus towards the employment data released on Friday," said Krosby. "A manifestation of relief could vanish if the data point out that the economy has changed in a stable, rather than sitting in a soft patch.

"The market (is) rapidly data-centric and corporate earnings and the company," said Krosby.

Any relief enjoyed by Stock probably would come at the expense of the market which have benefited from its status as a safe ceiling during the conflict of u.s. Treasury debt. That would bring Us higher returns.

Still, any increase in u.s. Treasury yields resulting from diminished anxiety for the debt ceiling would have limited the troubled Outlook for the u.s. economy, circumstances that appear to ensure that the Federal Reserve's monetary policy will remain accommodative for a long time.

The recent withdrawal of stocks has put them in a precarious position technically as the S & P 500 moves closer to its 200-day moving average, a level that might bring on additional sales if it breaks the index below it.

The benchmark index rebounded successfully level the Friday after the decline of the early morning.

"This is the line in the sand that divides things really going bad-perhaps to things turning really badly," said Paul Mendelsohn, Chief Investment Strategist at Windham financial services in Charlotte, Vermont.

Even if a deal is struck, a possibility remains the United States might lose triple a credit rating if the terms aren't draconinan enough to satisfy the credit rating agencies.

"You hear analysts debate whether or not the package is sufficient to maintain the credit rating agency to downgrade bay in terms of the debt of the Government of the United States," said Krosby.

Investors can still find some comfort corporate profits. According to data from Thomson Reuters Friday, 327 S & P 500 companies that have posted gains, 73 percent reported the results above analysts ' expectations.

Companies due to report earnings this week include Kraft Foods Inc., Clorox Co., Pfizer Inc. and Prudential Financial Inc.

But a weak economy, combined with a debt ceiling Bill that involves more withholding tax could hurt stocks later.

"Companies have been able to compensate for a lack of demand for refinancing their budgets, but in the long term, sledge will be much harder for equities and corporations," said Giddis. "We must improve the development work for companies to do good or to the stock market to do well."

In addition to weak corporate earnings, economic data and developments of U.S. debt ceiling, investors must remain prepared for any developments from the simmering debt crisis in the euro area, which could further increase the investor angst.

"There are two things to keep my eye on-one in Washington and one in Brussels, because the two of them you never know which title risk is going to hit you over the head," said Paul Mendelsohn, Chief Investment Strategist at Windham financial services in Charlotte, Vermont.

(Edited by Bernard Orr)

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Bank of America Countrywide hit with new lawsuit (AP)

NEW YORK – Bank of America Corp. is facing a new lawsuit filed by a group of shareholders of mortgage giant Countrywide Financial Corp., which the Bank has purchased in 2008.

The Group of investors, including BlackRock funds, t. Rowe Price Group Inc., TIAA-CREF and other pension funds, including pension system for civil servants in California earlier had turned down a $ 624 million settlement that struck the deal last year, saying that the terms were inadequate. The lawsuit accused Countrywide of misleading shareholders about its finances and lending practices.

Nicholas Blair, a partner at the law firm Bernstein Litowitz Berger & Grossman, representing the investors said they will present their claims before a jury. Bank of America spokesman Lawrence Grayson said: "we intend to vigorously defend these claims".

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World stocks lower amid nervousness of U.S. debt (AP)

Beijing-the global stock markets is Friday after U.S. lawmakers postpone a vote on raising the debt limit of the Government and to avoid a potential insolvency.

Oil fell below $ 97 per barrel as investors watched the political wrangling in Washington and Vin scenarios worse than U.S. default if lawmakers do not miss a deadline of Tuesday to increase the amount, which the Government can borrow.

The Treasury Department says the debt ceiling — currently at 14.3 billion — should be raised or the Government does not have enough money to cover all its bills. That has led to fears that the United States could default on its debt and give the fragile global economy.

"We're basically standing on the edge of an abyss, with peak above the background nowhere to be seen," said IG markets strategist Ben Potter in a report. He warned that without a deal Monday, markets could "risk based on fear that could quickly get out of control."

In Europe, France's CAC-40 shed 3 percent to 1.1, 672.93 while Germany DAX lost 1 percent to 7, 118.76. London's FTSE 100 fell 0.9 percent to 5, 822.57.

Wall Street was set to fall. Dow Futures fell 0.4 percent to 12.148 and the broader s & P 500 futures up 0.4 percent to 1, 291.80.

Nikkei 225 stock average Japan closed 0.7 percent to 9, 833.03. Index of Hong Kong's Hang Seng lost 0.6 percent to 22, 440.25 and China's Shanghai Composite Index shed 0.3 per cent to 2, 701.73.

South Korea's Kospi slid 2% to 1.1, 133.21. Australia and Bombay declined even as Singapore gained 0.1 percent.

The dollar is 77.61 yen in Asia from 77.88 yen late Thursday in New York. The euro fell to $ $ 1.4311 1.4279.

Republican leaders in the House of representatives delayed the vote on the Bill to extend the limit of government debt and cut federal spending, although there was an expectation that occur later Thursday evening in Washington.

On Wall Street, a late sell-off erased earlier gains Thursday as investors fretted that the Bill headed for a vote in the House of representatives fail to lead to a breakthrough in the stalemate.

The Dow Jones industrial average fell 62.44 points, or 0.5 percent, to close at 240.11 on Thursday, 12. The index had been up as many 82 points earlier in the day following an unexpected drop in new claims for unemployment benefits.

The Standard & poor's 500 fell by 0.3 per cent to close at 1, 300.67. The Nasdaq composite index, however, edged 0.1% at 2, 766.25.

Landmark oil for September delivery fell 59 cents to $96,83 per barrel in electronic trading on the New York Mercantile Exchange. Crude rose 4 cents to settle at $ 97.44 on Thursday.

In London, Brent crude slipped 23 cents to $ 117.13 per barrel on the ICE Futures exchange.

___

AP Business Writer helped Kelly Olsen in Seoul.

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Switzerland, Germany, to sign the agreement with tax evasion: report (AFP)

Zurich (AFP)-Swiss and German Governments are to sign an agreement early next month by putting an end to a long dispute on tax evasion by Germans who maintain secret Swiss bank accounts, a report said Sunday.

According to the newspaper Sonntagszeitung, the two sides of the ink an agreement that will allow 10 August, income from dividends and interest on funds deposited in Swiss accounts to be taxed, the newspaper said.

Although the exact tax rate is likely to be concluded is still approximately 25-26 percent, the report added.

While the German press recently reported that Swiss banks may have to pay 10 billion euro to German tax authorities in compensation for tax evasion over the last decade, the actual amount would be about two billion Swiss francs (1.8 billion/$ 2.5 billion) in the context of the agreement, said Sonntagszeitung.

That agreement would not only allow the resolution of tax disputes between the two countries, but also legalize assets deposited in Swiss banks by German citizens and allow them to remain anonymous.

Also a similar agreement could be signed soon with the Government in London that would see the British tax authorities have paid about 500 million Swiss francs, told the newspaper.

German and Swiss Governments, whose ties have been inaciditi for some time the dispute, have negotiated an agreement on double taxation for several years, which in future should help identify evaders.

The German authorities have made the fight against tax evasion in Switzerland and Liechtenstein a higher priority in recent years, controversially paying data confidentiality stored on the stolen computer discs.

Tax officials say they recovered 1.6 billion euros last year from taxpayers that had been identified through the data.

Some Swiss banks have struck their own deal with the German authorities, the private Bank Julius Baer agreed in April to pay 50 million euros at the end of tax evasion probes against it and its employees.

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Some incredible photos of human Chameleon Liu Bolin

The first 15 images that we published earlier this week were well received, we thought that we are giving you more Chameleon human Liu Bolin. And it's Friday.

Liu Bolin is a Chinese artist known for taking pictures of himself, painted to blend into the background.

Press the links below to access the most amazing pictures:

Hiding in the city of no. 53 - ancient water, 2007

Hiding in the city, no. 75, 2008

Hiding in the town of no. 58 - Olympic emblem, 2007

Hiding in the No. 69 - Graffiti, 2008 City

Hiding in the city no. 71 - Bulldozer, 2008

Hiding in the city, no. 77, 2008

Hiding in the city, no. 86, 2009

Hiding in the city, no. 87, 2009

Teatro alla Scala, 2010

Ponte di Rialto, 2010

Piazza San Marco, 2010

Series Dragon Panel 4 of 9, 2010

Hiding in the city no. 82, 2008

Hiding in the city no. 90 - national day, 2010

Displayed photos courtesy of www.ekfineart.com

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German retail sales jump in June (AFP)

Frankfurt, Germany (AFP)-retail sales in Germany, the biggest European economy, earned a surprise 6.3 percent in June, provisional, seasonally-adjusted official figures published Friday showed.

Analysts polled by Dow Jones Newswires had forecast a much more modest 1.7 percent from may, but economists agree that the indicator is volatile and subject to frequent revisions.

A statement issued by the National Statistics Office Destatis also noted that the result was affected by a change in the sample of companies that were interviewed.

The increase is still a strong rebound from the fall month of 2.5 percent in may, though.

"While the may issue was the worst in the last 10 years, the number of June is the highest since 2007," noted Commerzbank analyst Ulrike Rondorf.

On a basis of 12 months, retail sales fell by 1.0 percent in June, but noted there were Destatis 24 working days in June 2011, June 26, 2010.

Senior economist Carsten Brzeski felt ING data "show that German consumers are finally waking up."

"Of course, the rather daunting track record of German retail sales is reason enough to not overly excited," Brzeski added.

The figures however "offer some glimmer of hope that at least the German economy is heading toward a soft landing, not difficult," he said.

On a quarterly comparison, retail sales from April to June were 0.4% lower than in the first quarter, Rondorf said "supports our expectation that the German growth slowed considerably in the second quarter."

Within six months from January to June, meanwhile, sales gained 1.3 percent over the same period a year earlier, Destatis said.

The German HDE Retail Federation has predicted an annual gain of 1.5 per cent for the 2011 as a whole, but HDE President Josef Sankjohanser recently noted that "the traditionally stronger retail sales still await us."

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Risks of recession up amid slow growth, the stalemate debt (AP)

WASHINGTON-the economy is at risk of slipping into another recession.

The stalemate almost over the first six months of the year, the Government reported Friday. Economic growth was weak in the second quarter and virtually non-existent in the first.

The new framework of an economy much weaker than many analysts had expected a second recession suddenly made a threat more serious — and the threat will increase if Congress fails to reach an agreement to increase the debt limit of the Government.

"The only question now is, how much weaker might get things?" said Nariman Behravesh, Chief Economist at IHS Global Insight.

In April, may and June, the economy grew at an annual rate of 1.3 percent, below expectations. And the Government has changed the growth figure for January, February and March to 0.4 percent, well below its previous estimate of 1.9 percent.

Combined, the first half of the amounts to the worst performance in six months from the great recession year ended officially in June 2009.

Last year, gross domestic product — the total output of goods and services in the United States and the wider measure of economic health — actual registered growth of 1.6 percent.

By 1950, the year of growth has dipped below the 2 percent 12 times. Ten of those times, the economy was already in recession or soon fell into one, said Mark Vitner, senior economist at Wells Fargo Securities.

Normal economic growth is closer to 3 percent.

High gasoline prices leave people with less money to spend on other goods and services. And not all expenses on gas contributes to the economy of the United States because some of the money goes to oil-producing countries. GDP figures are also correct inflation, then spend $ 1 to $ 1 a gallon doesn't mean additional help for the economy.

Production disruptions from Japan's earthquake, cuts to State and local government and tighter household budgets have weighed down the economy, too.

Add those problems uncertainty fanned political standoff in Washington with Republicans refusing to increase $14,3 trillion Federal Government's borrowing limit, unless Democrats agree to spending cuts on Federal terms of GOP deep.

Without an agreement, the Treasury Department said, the Government does not have enough money to pay all the Bills later Tuesday. It must cut spending by around 40 percent and choose which programs and beneficiaries receive money and who doesn't.

The dismal second-quarter report has led economists to lower their estimates of growth in the second half of the year. Capital economics, who had expected the economy to grow 2.5% this year, now says the 2 percent seems more likely.

Joel Naroff of Naroff Economic advisors said that he is waiting until the expiry of the debt-limit switches to revise its economic forecasts for the rest of 2011. He knows that he will scale back its estimates. He just doesn't know how.

If there is an agreement for another month, Naroff estimate there is a possibility of 80-90 percent that the spending cuts will tip the economy into recession. Although there is a deal, it would be significant spending cuts likely trigger could slow the growth, at least in the short term.

"Kicking the Federal Government, and the economy is going to be doubled in pain," said Naroff.

Federal Reserve Chairman Ben Bernanke and other economists have warned Congress against cutting too much too soon because the economy remains so fragile.

The economy needs to expand can create jobs for a growing population. It must grow at an annual rate of 2.5 percent to prevent the unemployment rate and growing at a rate of 5 percent to reduce unemployment significantly.

In a message to Twitter, Economist Justin Wolfers of the Wharton School of the University of Pennsylvania said he thinks there is a chance of 40 percent of the economy is already in a recession for the past four months.

Normally, when the economy is weak, the Government spends more and the Federal Reserve aggressively try to stimulate growth. But the stimulus package of President Barack Obama 862 billion dollars of spending programs and tax cuts not wasted last year — and not be picked up by a Congress focused on cutting the public debt.

And the Federal Reserve last month ended a program to buying 600 billion bonds designed to jolt the economy by lowering interest rates in the long term and stock prices.

The Fed is keeping interest rates at near zero in the short term, and Bernanke said this month that the Fed is willing to do more if the economy remains weak. But the Central Bank has been more preoccupied recently for a resurgence of inflation.

The private sector has not yet picked up the slack. The housing industry, which drives economic recoveries, still depressed after house prices started tumbling in 2006 and 2007.

Americans are still heavy debts, and what little they have made gains in wages were eaten by higher gas and food prices. Businesses increasingly work outside of the sticks scaled down during the recession, are reluctant to take as long as I'm sure their sales pick up.

"What is going to take into the unknown"? Naroff said.

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Analysis: Gas engines at the center of the unit of fuel efficiency (Reuters)

WASHINGTON/DETROIT (Reuters)-carmakers have decided to produce by quarter of a century more fuel-efficient cars and trucks that take advantage of new designs and technology, but still rely on gasoline engines.

A project that was announced Friday by President Barack Obama would Boost fuel economy requirements 53 percent by 2025. This goal is unlikely, as some suppose, to request a dramatic ramping up production of electric vehicles and hybrids, which are only a fraction of sales on the US market.

"Automakers will meet the standards by improving the technology on the road today," said Brendan Bell program at the Union of Concerned Scientists clean vehicles.

Bell, automakers and other experts say industry will accelerate the development of cleaner burning gas engines, advanced transmission systems, lighter materials-as the strongest steel and alloys--and more aerodynamic design.

These changes are already underway, as is a shift towards the production of small cars to meet consumer demand and new mandates of Government in an age of high gas prices.

In particular, U.S. carmakers, led by Ford Motor Co., have been working feverishly to make these changes after long are on gas guzzling trucks, SUVs and minivans. Big trucks, including full-size pickup, will have the hardest time of new objectives.

"The three Detroit have finally and truly fuel discovered and is a real attention to them," BorgWarner Inc. Chief Executive Tim Truncheon said analysts.

Blackjack, whose company makes turbochargers and other engine technologies, noted that achieving better fuel economy, is undoubtedly a cost exceeding automakers.

The background for an announcement of Obama in Washington Convention Center included a General Motors Co. Chevrolet Cruze, a 4-cylinder compact car that is the resurgent automaker's best-selling U.S.. Was not present for most GM Volt electric sedan, a new GM production promotes to Washington to draw attention to its efforts on saving fuel.

Obama is particularly interested in producing more electric cars and in the development of improved battery technologies as part of an initiative green jobs and the attempt to reduce oil consumption.

Environmentalists warn of potential loopholes that would deform the new fuel standard program away from the fleet as efficient as possible. But overall, the industry has made good faith efforts to date to focus on fuel economy improvements.

The emphasis was not to steal from many of the features you want U.S. motorists in their cars and sell them, such as engine performance, smooth handling, cargo space, and extras such as motorist assist services and systems that enable the compatibility of the phone and GPS.

The strategy is built around a series of advances, some of which can be described as "low-hanging fruit," that offer incremental earnings alone but in total can be game-changers.

"You're eating that elephant a bite at a time," said Vince Muniga, a spokeswoman for Chrysler product.

GM Cruze and Volt 4 cylinders, and Ford Motor Co has Ecoboost technology--a combination of fuel injection and turbocharger aimed at giving smaller gasoline engines more power and higher efficiency. The popular F-150 pickup with Ecoboost had rolled into the Convention Center on Friday for Obama event.

Automakers and suppliers are also investing hundreds of millions of dollars in transmissions made more efficient with additional gears that lowering the RPM to increase the productivity of the engine.

Chrysler, which is run by Fiat of Italy, is using this technology in future editions of the Chrysler 300 and Dodge Charger.

Jake Fisher, a senior engineer with the Division of Consumer Reports auto test, said there are more high-strength steel and other metals and materials that are lighter but offer good stability and protection from accidents-although they may be more expensive.

Aluminium, which is very expensive to build great cars, can find its way into suspension systems and other components to reduce weight. Less clear is the role of composite materials such as carbon-fiber materials, which are used in aircraft and other industries.

Overseas automakers, like Toyota Motor Corp. and Honda Motor Co., will continue with hybrids of signature. Ford has also pushed forward with its production of hybrids. European automakers such as Volkswagen AG wants to push the cleanest diesel in the u.s. market.

Boston Consulting Group estimated in June plug-in hybrids and other electric cars may make the 5 percent or less of sales in the United States by 2020. The prediction is tied to oil price increases and improvements in engines that are at a lower cost.

(Additional reporting by Ayesha Rascoe and Emily Stephenson; Editing by Maureen Bavdek)

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BNY Mellon CEO opens the new Japanese headquarters

Of BNY Mellon Chairman and Chief Executive Officer of the Robert P. Kelly, officially opened the new Office of the company at Marunouchi Trust Tower main in Tokyo in a ceremony by employees.

"I am very pleased to be here today to celebrate the inauguration of our new and expanded facilities in Tokyo," said Kelly of BNY Mellon, speaking at the official launch of the last week. "The opening of our new Japanese headquarters of underlines our investment in the long term in the Japanese market and on a broader scale means continued growth of BNY Mellon in the Asia-Pacific.".

"There are several areas where further collaboration between BNY Mellon and Japanese financial institutions can bring mutual benefit.". We will continue to add the best people, products and services and ensuring that we offer the full scope of the capacity of our company in support of our customers in this competitive world market '.

The transition to state-of-the-art Marunouchi Trust Tower main reflects BNY Mellon growing presence and a commitment to long term for the Japanese market. Spanning more than 3,800 m2 (41,625 FT2) on two floors in the building, the new Japanese headquarters of BNY Mellon provide extra space and world class facilities to meet the basic needs of employee in the company, as well as expansion of its capacity to respond to the increase in demand for its products and services.

Thom Fisher, Executive BNY Mellon in the Japan countries, added: "the celebrations of today mark the beginning of a new exciting chapter for BNY Mellon in the Japan." We have seen substantial growth over the past five years - a reflection of the confidence that our customers in all the Japan have placed in us. I feel privileged to work with a team of outstanding and dedicated employees.

BNY Mellon maintenance Japanese institutions for almost 100 years, and last year celebrated its 40th anniversary at the Japan. The company opened its first Office in Tokyo in 1970 by the Irving Trust Company (which merged with Bank of New York in 1988) and obtained a licence from the branch in 1973. BNY Mellon offers a wide variety of products and services to the Japanese market institutional and wholesale, including investment management, asset maintenance, brokers, corporate trust, depositary received on global markets.

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Commerzbank companies & markets Hires Director of sales FI for the Germany / Austria / Switzerland

Commerzbank businesses and markets (C & M) has hired Benjamin Melzer as head of Financial Institution sales Germany / Austria / Switzerland.

In this role, Melzer will report to Andrew Readinger, an overall responsible Financial Institution sales. It will focus on further deepen and develop the relations with clients of Commerzbank in fixed income and zone currencies throughout the Germany, Austria and Switzerland.

Andrew Readinger, Global Head of Financial Institution Sales, commented: "we are convinced that the experience of Benjamin will help us develop our strategic expansion in the central area of the German-speaking countries".

Melzer will be based in Frankfurt and joined the Bank this week of Morgan Stanley, where he held several senior positions over a period of 12 years. More recently, he has been responsible for the Financial Institutions covering the Germany, Austria and Switzerland on global capital markets.

Readinger said: "the hiring of Benjamin Melzer is a natural fit with our strategy to deliver better customer experience class and prospects".

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Happy days and increases in top firm Surprises & Comp Pot

Well, well, well. Who would have thought it.

Although Morgan Stanley posted a loss of Q2 558 m $ Thursday (after a one-time charge of $1. 7bn related to its agreement with Mitsubishi UFJ International), the Cabinet took the markets by surprise with a solid performance across all major companies, with revenues 17% in the first quarter. Fixed income has been particularly in the period.

And the shares of the company replied by 11.42% higher in New York trade, closing at 24.20.

Provision of compensation of employees has increased too much, as Morgan Stanley set aside $4. 19bn for investment banking staff in the first 6 months of the year (an increase of 10% on last year). This compares to the. $ 8 Goldman 44bn is cancelled in the period (down 9%) and the. 86bn 5 $ allocated for comp by the JPMorgan Investment Bank (+ 4.86% over a year earlier).

Compensation set aside for richness of Morgan Stanley firms arrived MD $4 (+ 9%).

And the smart money has started to blow the trumpet of the Cabinet:

"I think that Gorman (CEO James) is finally beginning to see the reality of its efforts to improve the business".

' Morgan Stanley is the new Goldman Sachs. Each of their divisions shows improvement and upgrading of trading operations is particularly impressive '.

Richard Bove, analyst, Rochdale Securities (The New York Post, The Daily Telegraph)

' Morgan Stanley has really hit the ball out of the Park. It is a very impressive neighbourhood of a point of view of revenue "."

Jason Tyler, SVP, Ariel Investments (Bloomberg Radio)

The results of the second quarter of Morgan Stanley should dispel any notion that the company may be worth more dead than live '.

The Wall Street Journal

However, a set of data does really that Morgan Stanley is on the way back, and CEO James Gorman, reminded the staff in a memo Thursday that "there are still many" to realize the full potential of our franchise world.

Overall, however, it is good to be Morgan Stanley (for now).

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Dahlman Rose & Co appoints global head of Sales Trading

Dahlman Rose & Company, LLC, an investment bank Leader specialized in natural resources, transportation and other industries in the global supply chain, has announced that it has appointed Glenn Starkman as Global Head of Sales Trading, effective immediately.

In the new position, Starkman will be responsible for the continued growth and Direction of the commercial effort of the company sales.

"We are pleased to have a professional of the stature of Glenn Starkman to join our management team," said Kim Fennebresque, President and CEO of Dahlman Rose & Co. "experience in Glenn broad industry through a variety of investment products, solid management skills and relationships with customers around the world expand our market presence while we continue to the rapid growth of our sales platform" "and of negotiation".

Starkman, 49, has more than 27 years of experience in sales institutional and commercial. Prior to joining Dahlman Rose, he served as Global Head of Sales Trading Knight Capital Group, a global financial services company. 2000-2009, Starkman held various roles at UBS AG, including the management of their sales and the International Sales Trading of companies to the United States. He began his career on Wall Street to Sanford Bernstein in their Asset Management division, where he spent 10 years prior to be employed by Goldman Sachs & Co. from 1994 to 2000. Mr. Starkman has obtained a Bachelor's degree in economics from Boston University.

"I look forward to working closely with the management of Dahlman Rose and talented sales trading department team and in contributing en contribuant company continued success, said Starkman." "The company's reputation for providing superior customer service combined with expertise in the field provides an important value for investors interested in companies that operate along the global supply chain".

WHETHER DAHLMAN ROSE & CO.

Dahlman Rose & Co., LLC (Member: FINRA/Lanzamiento) is an investment bank focused on energy, transport, infrastructure and other research-based industries that make up the global supply chain. The Cabinet industry, bankers and traders analysts offer unique insight into companies and markets that provide the elements of the global economy.

Dahlman Rose has its headquarters in New York and has offices in Boston and Houston. Dahlman Rose provides institutional and commercial, equity sales and research of fixed income securities, mergers and acquisitions advisory and underwriting services. For more information about Dahlman Rose, please visit www.drco.com.

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BNY Mellon appoints the President of the Europe, Middle East & Africa

BNY Mellon announced the appointment of Michael Cole-Fontayn, new President of the Europe, Middle East and Africa (EMEA).

The EMEA region represents 26% of revenues (1) global and employs 10,000 people in 16 countries.

As President of the EMEA region, Cole-Fontayn will lead the regional management team in the execution of strategic plans of the company and the acceleration of growth in this key region. It will retain its existing role and responsibilities as Chief Executive Officer, received depositary to BNY Mellon. Cole-Fontayn resumed the role of President of Tim Keaney, CEO of BNY Mellon Asset servicing. Keaney moved to New York, where he will continue to conduct the business of active service around the world.

Gerald Hassell, President of BNY Mellon, said: ' the expansion of our international business is the key to the continued success of our company. We continue to see many interesting opportunities in the EMEA region, and we are well placed to take advantage of the momentum that we have acquired in the region. We continue to gain market share and benefit from our recent acquisitions of Insight Investment Management in the United Kingdom, BHF Asset maintenance of PNC Servicing of Global business investment and Germany. Michael brings many years of experience and international high powers to his new role and it is an ideal candidate to capitalize on the many accomplishments of Tim Keaney President "."

Cole-Fontayn joined BNY Mellon in 1984 and worked in the company of bailee received since 1992. Between 1993 and 2000, he ran the BNY Mellon Issuer Services Group in Hong Kong. He is a member of the Executive Committee and the World Committee of exploitation of BNY Mellon.

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BGC Partners Appoints Executive MD and Director of Oro market data

BGC Partners, Inc. has announced the appointment of Mark Benfield as Director Executive and Director of the data Oro on the market, one of the leading providers of data market in the world and a subsidiary of BGC partners.

Benfield, who will be based in the Asia-Pacific region of the company, will have overall responsibility for market Oro and will report to Shaun Lynn, President of BGC partners. Mr. Benfield is supported for Bernie Weinstein, who will continue to oversee Kleos, Oro technology infrastructure and operations on the service host system and will be also responsible for the company intellectual property.

Shaun Lynn, President of BGC Partners commented: "Mark brings a wealth of experience and leadership as a leading professional in the field of financial information." His appointment underlines the commitment of data on the market of the Oro to meet the specific needs of each client of world-class, at the time actual exchange of data and analysis as the market continues to evolve with new financial products and develop volumes of trade.

Lynn said: "I want to thank Bernie for her contributions and look forward to its ongoing success in his new role of".

Benfield said: ' that the world market develops, the need for the provision of accurate and increases inventory data pricing. I look forward to working with professionals in our offices in the world and Electronic Commerce of the ORO team to ensure that we are maximizing our global inventory data so that the ORO can best serve our valued customers and the broader market financial '.

Benfield joined BGC of ICAP plc, where he was Director regional for ICAP Information Services in the Asia-Pacific region. He was responsible for the construction of free information of the ICAP in the Asia-Pacific and the management of the global strategic marketing for ICAP Information Services group.

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