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BUSINESS
By BLOOMBERG NEWS | June 6, 1997
NEW YORK -- Dow Jones & Co. gave its blessing yesterday to trading in options, futures contracts and a fund based on the most widely watched gauge for U.S. stocks, the Dow Jones industrial average.The trading is expected to begin this fall. For the first time, speculators will be able to bet on the direction of the 101-year-old Dow average, which consists of 30 stocks, including such stalwarts as General Electric Co. and Coca-Cola Co. "People have been wanting this for 15 years, ever since options trading took off in the early '80s," said Mike Driscoll, a block trader at Hambrecht & Quist in New York.
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SPORTS
By Jeff Zrebiec | July 23, 2012
Less than 24 hours before quarterbacks, rookies and players coming off injuries participate in their first practice of training camp, the Ravens made a roster move today, releasing guard Howard Barbieri. The Ravens signed Barbieri in January to a reserve/futures contract. He did not participate in the offseason team activities because of an undisclosed injury. Barbieri, 24, played his college ball at Rutgers. The 24-year-old was with the Houston Texans last year but has never played in an NFL game.
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NEWS
By New York Times News Service | July 2, 1993
CHICAGO -- The flooding along the Mississippi will be having a ripple effect on consumers.The flood-swollen Mississippi River will be closed to boat traffic for three more weeks or longer, causing tens of millions of dollars in losses to the shippers and companies that must find other, more expensive ways to move their products.Consumers could see higher prices in the weeks and months ahead on everything from grain to electricity because shipping costs are increasing and the cost of grain futures contracts at the Chicago Board of Trade have been rising as fast as the river.
NEWS
August 26, 2008
If you are shocked to learn that speculators have been profiting from soaring oil prices this summer as ordinary Americans have suffered at the pump, there is a bridge in New York you may be interested in buying. Prodded by Congress, the Commodities Futures Trading Commission has released data showing that a handful of trading companies controlled a significant fraction of oil futures contracts on the New York Mercantile Exchange. That's as oil climbed to a record level exceeding $147 a barrel in July.
BUSINESS
By BILL BARNHART | December 12, 2004
TWO RECENT events in Chicago expand the way you think about investing: The Chicago Climate Exchange, which a year ago began trading industrial pollution allowances issued by the U.S. Environmental Protection Agency, launched futures trading Friday in the EPA's sulfur dioxide-emission allowances. The Chicago Mercantile Exchange, a 106-year-old institution that began life as a butter and egg exchange, said it might trade futures contracts on house prices. Investors wisely treat the futures markets with skepticism, despite their simple purpose: Futures are contracts granting the holder the obligation to buy or sell something at a specified price within a specified period.
NEWS
August 26, 2008
If you are shocked to learn that speculators have been profiting from soaring oil prices this summer as ordinary Americans have suffered at the pump, there is a bridge in New York you may be interested in buying. Prodded by Congress, the Commodities Futures Trading Commission has released data showing that a handful of trading companies controlled a significant fraction of oil futures contracts on the New York Mercantile Exchange. That's as oil climbed to a record level exceeding $147 a barrel in July.
BUSINESS
By Bill Atkinson and Eileen Ambrose and Bill Atkinson and Eileen Ambrose,SUN STAFF | August 8, 2001
The Commodity Futures Trading Commission said yesterday that it has filed a seven-count injunctive action against a Forest Hill money manager who solicited more than $2 million from investors and allegedly misappropriated the funds. According to the Washington-based CFTC, Peter Scott admitted to auditors with the National Futures Association that he "used investor funds to pay for personal expenses," including a Ford truck. He also admitted that he paid himself more than $900,000 in total, according to the CFTC.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | April 13, 2004
A federal judge has frozen the assets of a Baltimore man who is accused of bilking investors of $630,000 in an illegal commodities-trading venture and using part of the money to pay his mortgage and his daughter's college expenses. U.S. District Judge Richard D. Bennett acted Thursday in the case of Andrew Silberstein, who is facing civil charges filed by the U.S. Commodity Futures Trading Commission and the Maryland securities commissioner. The civil complaint, filed March 5, charges Silberstein with nine counts of violations of the federal law regulating commodities, and violations of Maryland securities laws.
NEWS
By Tom Bowman and Tom Bowman,SUN NATIONAL STAFF | July 29, 2003
WASHINGTON - The Pentagon is looking at setting up a commodity market-style trading system in which investors would be able to bet on political or even terrorist events, such as whether terrorists could strike Israel with biological weapons. Defense officials said using such a betting method has been successful in predicting elections, monetary policy decisions and movie box office receipts. But two Senate Democrats called yesterday for an end to the program before investors start registering Friday, with one calling the proposal "ridiculous and grotesque" and another asking, "What on earth were they thinking?"
BUSINESS
By Chicago Tribune | August 21, 1991
CHICAGO -- Leaders of the Chicago Board of Trade made futures industry history yesterday by approving a new contract that will be bought and sold only on an electronic screen rather than in the frenzied environment of a trading pit.In a unanimous vote, the CBOT board approved a proposal to trade the new product -- a scrap-steel futures contract -- through a computerized order-matching system that is in its final stages of development.The vote on the scrap contract is the first time the exchange has endorsed a method of setting prices and buying and selling commodities not grounded in "open outcry," a system it virtually invented more than 150 years ago.The scrap-steel contract, each one of which will allow a market user the right to take or make delivery of 100 tons of ferrous scrap steel, is the 30th new contract developed by the CBOT in the last five years.
BUSINESS
By BILL BARNHART | December 12, 2004
TWO RECENT events in Chicago expand the way you think about investing: The Chicago Climate Exchange, which a year ago began trading industrial pollution allowances issued by the U.S. Environmental Protection Agency, launched futures trading Friday in the EPA's sulfur dioxide-emission allowances. The Chicago Mercantile Exchange, a 106-year-old institution that began life as a butter and egg exchange, said it might trade futures contracts on house prices. Investors wisely treat the futures markets with skepticism, despite their simple purpose: Futures are contracts granting the holder the obligation to buy or sell something at a specified price within a specified period.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | April 13, 2004
A federal judge has frozen the assets of a Baltimore man who is accused of bilking investors of $630,000 in an illegal commodities-trading venture and using part of the money to pay his mortgage and his daughter's college expenses. U.S. District Judge Richard D. Bennett acted Thursday in the case of Andrew Silberstein, who is facing civil charges filed by the U.S. Commodity Futures Trading Commission and the Maryland securities commissioner. The civil complaint, filed March 5, charges Silberstein with nine counts of violations of the federal law regulating commodities, and violations of Maryland securities laws.
NEWS
By Tom Bowman and Tom Bowman,SUN NATIONAL STAFF | July 29, 2003
WASHINGTON - The Pentagon is looking at setting up a commodity market-style trading system in which investors would be able to bet on political or even terrorist events, such as whether terrorists could strike Israel with biological weapons. Defense officials said using such a betting method has been successful in predicting elections, monetary policy decisions and movie box office receipts. But two Senate Democrats called yesterday for an end to the program before investors start registering Friday, with one calling the proposal "ridiculous and grotesque" and another asking, "What on earth were they thinking?"
BUSINESS
By Bill Atkinson and Eileen Ambrose and Bill Atkinson and Eileen Ambrose,SUN STAFF | August 8, 2001
The Commodity Futures Trading Commission said yesterday that it has filed a seven-count injunctive action against a Forest Hill money manager who solicited more than $2 million from investors and allegedly misappropriated the funds. According to the Washington-based CFTC, Peter Scott admitted to auditors with the National Futures Association that he "used investor funds to pay for personal expenses," including a Ford truck. He also admitted that he paid himself more than $900,000 in total, according to the CFTC.
BUSINESS
By BLOOMBERG NEWS | June 6, 1997
NEW YORK -- Dow Jones & Co. gave its blessing yesterday to trading in options, futures contracts and a fund based on the most widely watched gauge for U.S. stocks, the Dow Jones industrial average.The trading is expected to begin this fall. For the first time, speculators will be able to bet on the direction of the 101-year-old Dow average, which consists of 30 stocks, including such stalwarts as General Electric Co. and Coca-Cola Co. "People have been wanting this for 15 years, ever since options trading took off in the early '80s," said Mike Driscoll, a block trader at Hambrecht & Quist in New York.
NEWS
By New York Times News Service | July 2, 1993
CHICAGO -- The flooding along the Mississippi will be having a ripple effect on consumers.The flood-swollen Mississippi River will be closed to boat traffic for three more weeks or longer, causing tens of millions of dollars in losses to the shippers and companies that must find other, more expensive ways to move their products.Consumers could see higher prices in the weeks and months ahead on everything from grain to electricity because shipping costs are increasing and the cost of grain futures contracts at the Chicago Board of Trade have been rising as fast as the river.
BUSINESS
By Thomas Easton and Thomas Easton,New York Bureau of The Sun | November 2, 1991
NEW YORK -- Disastrous wagers on football and baseball led to a massive third-quarter loss for CBS Inc.Yesterday's announcement showed a write-down of $195.5 million for the quarter to cover losses on sports broadcasting contracts. It was CBS's second write-down in a year on sports and reflected a pretax loss of $614 million on $2.1 billion worth of contracts extending through 1993.In all of broadcast history, said John Reidy, a longtime industry analyst at Smith Barney, "I can't think of anything that lost this kind of money."
SPORTS
By Jeff Zrebiec | July 23, 2012
Less than 24 hours before quarterbacks, rookies and players coming off injuries participate in their first practice of training camp, the Ravens made a roster move today, releasing guard Howard Barbieri. The Ravens signed Barbieri in January to a reserve/futures contract. He did not participate in the offseason team activities because of an undisclosed injury. Barbieri, 24, played his college ball at Rutgers. The 24-year-old was with the Houston Texans last year but has never played in an NFL game.
BUSINESS
By Thomas Easton and Thomas Easton,New York Bureau of The Sun | November 2, 1991
NEW YORK -- Disastrous wagers on football and baseball led to a massive third-quarter loss for CBS Inc.Yesterday's announcement showed a write-down of $195.5 million for the quarter to cover losses on sports broadcasting contracts. It was CBS's second write-down in a year on sports and reflected a pretax loss of $614 million on $2.1 billion worth of contracts extending through 1993.In all of broadcast history, said John Reidy, a longtime industry analyst at Smith Barney, "I can't think of anything that lost this kind of money."
BUSINESS
By Chicago Tribune | August 21, 1991
CHICAGO -- Leaders of the Chicago Board of Trade made futures industry history yesterday by approving a new contract that will be bought and sold only on an electronic screen rather than in the frenzied environment of a trading pit.In a unanimous vote, the CBOT board approved a proposal to trade the new product -- a scrap-steel futures contract -- through a computerized order-matching system that is in its final stages of development.The vote on the scrap contract is the first time the exchange has endorsed a method of setting prices and buying and selling commodities not grounded in "open outcry," a system it virtually invented more than 150 years ago.The scrap-steel contract, each one of which will allow a market user the right to take or make delivery of 100 tons of ferrous scrap steel, is the 30th new contract developed by the CBOT in the last five years.
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