Sunday, 19 April 2015
Last updated 21 hours ago
Mar 18 2011 | 12:32pm ET
Hedge fund speculation in the energy markets is at its highest level on record, the Commodity Futures Trading Commission said.
Speculators, including hedge funds, held more than 1 million energy futures equivalent contracts in January, even before the massive earthquake and nuclear crisis in Japan roiled markets. The figure is 64% higher than it was in June 2008.
Speculation in metals and agricultural markets has risen by a fifth, CFTC Commissioner Bart Chilton added.
The CFTC will begin collecting data about commodity speculation in the third quarter. The agency has been charged by new U.S. financial services regulations with crafting rules designed to curb speculation.
"We were given authority to place limits on speculation as part of the new financial reform law, but we haven't done that yet and we need to, pronto," Chilton said.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…