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Residuals from the Libor scandal continue as a regulatory filing reveals that The July “discharge” of a managing director of Barclays PLC (NYSE:BCS) originated over a “loss of confidence (for failing) to properly supervise individuals on his team.” Additionally, one of the dorector’s traders was sacked for “communications involving inappropriate requests relating to Libor.”
Shares of BlackRock, Inc. (NYSE:BLK) are undervalued by approximately 20 percent even if it has to reduce the fees on its line of iShares exchange-traded funds, says Luke Montgomery at Bernstein, who keeps his Market-Perform. Other observers feel that the company will lose income at the beginning, but the lower costs should help raise assets under management over time.
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