The stunning array arrests at FIFA dominates the headlines: Could there really be more cheating in soccer than on Wall Street? The New York Times seemed stunned that FIFA president Sepp Blatter (compared to a discreet Swiss banker) escaped indictment. Sponsors are not loving this story. Meanwhile, U.S. stocks have a case of the jitters as once more traders decide to run scared from potential rate hikes. It couldn’t help that the stock markets in China and Hong Kong suffered their worst one-day in more than four months.
Iraq bars Sunni Muslims fleeing ISIS from crossing border. The havoc the terrorist group ISIS has caused is unceasing. The Iraqi refugees had originally fled to Syria and now are trying to return but Shiite militiamen and Iraq military forces are blocking the border. New York Times
Trading in U.S. stocks pools together at beginning, end of day. That could mean bigger swings during the rest of the trading hours when volume is particularly low. Wall Street Journal
U.S. urges ASEAN to unite vs China on disputed islands. U.S. released a video of China’s reclamation works in the disputed South China Sea as it urged Southeast Asian countries with claims on the territory to take a more united stance against Beijing. The video was released ahead of Friday’s Asian security forum in Singapore will be attended by U.S. and Chinese military officials such as U.S. Defense Secretary Ash Carter. Reuters
Despite 25% pay raise, Morgan Stanley CEO still earns less than the Goldman Sachs CEO. James Gormansays he earned the 2014 pay package the old-fashioned way: based on the bank’s performance. With the pay hike, his total salary last year reached $22.5 million, besting the package Jamie Dimon received as CEO of JPMorgan Chase. The percentage increase was reportedly the biggest among Wall Street’s CEOs. CNBC
Former Goldman Sachs equities trader trades stocks for food. A decade after quitting his job, Rohit Chugh is opening an Indian restaurant — Chai Ki– in London’s Canary Wharf financial district. He drew similarities between the two jobs: “It’s the intensity: You have to do a lot of different things, and you have to stay calm in front of everyone else.” Bloomberg
Photo by Japao x Colombia via Flickr.