Knight Capital Could Face Bankruptcy

FALLOUT

Updated Apr. 21, 2017 4:08PM EDT / Published Aug. 03, 2012 8:16AM EDT

Richard Drew / AP Photo

A software glitch that resulted in a $440M trading loss for brokerage firm Knight Capital could force the New Jersey-based firm into bankruptcy. "They have about 48 hours to shore up confidence," said James Koutoulas, head of an advocacy group for former customers of failed brokerages MF Global and Peregrine Financial. The firm announced that it is "actively pursuing its strategic and financing alternatives," an indication that the firm could be sold or declare bankruptcy because of its lost capital, which amounts to roughly four times its annual net earnings.

Read it at The Telegraph

Trump Team Scheming to Devalue Dollar if He Wins: Report

It’s an aggressive move designed to reduce the trade deficit—but risks losing the dollar’s coveted status as world reserve currency.

Bollywood Star’s Home Shot Up Over 1998 Killing of Antelopes

Two suspects in the attack reportedly belong to a gang from a religious sect for which the animals hold a special significance.

Alarms Went Off on Ship Hours Before Bridge Crash: Report

The Dali had not even left port when the alarms were triggered.

DOJ Gears Up to Bring Ticketmaster Antitrust Lawsuit: Report

The case could be filed as early as May.

Caitlin Clark Finally Learns Which WNBA Team She’ll Join

“I got a little anxious there before the pick,” Clark said after the announcement.

NY Philharmonic Benches Musicians Amid Sex Assault Scandal

Matthew Muckey and Liang Wang were fired by the orchestra in 2018 after a female musician accused them of sexual misconduct. They were reinstated two years later.

Prince Harry Loses Initial Bid to Appeal Security Ruling

Despite the ruling, Harry plans to fight on.

Clarence Thomas Mysteriously Absent From SCOTUS Arguments

The court declined to give a reason for the absence but said Thomas would “participate fully” in the cases through briefs and transcripts.

Knight Capital Could Face Bankruptcy

Richard Drew / AP Photo