Mf Global

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Here's a quick round-up of the major local and international business and economic news events that happened today.

NY Fed suspends MF Global from conducting new business

MF Global, run by former Goldman Sachs Chief Executive Jon Corzine, has been struggling over the past week in which it posted a quarterly loss, its shares fell by two-thirds and its credit ratings were cut to junk.

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Here's a quick round-up of the major local and international business and economic news events that happened today.

MF Global nears asset sale, bankruptcy for holding firm

As per a tentative plan, MF Global's holding company would file for bankruptcy protection and derivatives trader Interactive Brokers would buy the assets.

Corzine resigns from bankrupt MF Global, hires defence lawyer

Friday's resignation is the latest development in a stunning downfall for Corzine, 64, who ran Goldman Sachs & Co in the late 1990s and was subsequently a US senator from New Jersey and governor of that state.

SEC probes MF Global's statements on European bets:report

MF Global maintains that any shortfall is the result of money stuck at banks that handled its trades or unintentional bookkeeping problems.

Worried Singapore investors line up at MF Global to salvage doomed investments

Dozens of worried local investors lined up at the MF Global office throughout the day seeking to recoup their money, but all they received was a form to complete after being told no money would be disbursed until liquidators wound down the bankrupt US brokerage.

Clients scramble for money after MF Global shock

The New York Times reported that federal regulators had discovered that hundreds of millions of dollars in customer money—supposed to be segregated, and protected from the rest of the business — had gone missing.

Analysis: Preserver Corzine turns destroyer for MF Global?

For Jon Corzine, who was brought in to run MF Global on the recommendation of his former Goldman colleague Christopher Flowers, the past week's events have hit not only his reputation but his wealth.