Friday's Headlines: Goldman, JP Morgan among 16 banks investigated by European Union into possible anti-trust violations

The European Union is investigating Goldman, JP Morgan and 14 other large banks for possible antitrust violations involving the market for credit default swaps (CDS) derivatives, according to Reuters. The European Commission said today it would investigate whether 16 investment banks and CDS market information provider Markit had colluded or abused a dominant market position.

The 16 banks being examined are: JP Morgan, Bank of America Merrill Lynch, Barclays, BNP Paribas, Citigroup, Commerzbank, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley, Royal Bank of Scotland, UBS, Wells Fargo Bank/Wachovia, Credit Agricole and Societe Generale.

Other News:

Nasdaq and ICE are poised to go hostile in their bid for NYSE Euronext after shareholders pressure the Big Board to get a better deal following NYSE's board dismissal of Nasdaq's bid as "strategically unattractive" that would cause heavy U.S. job losses. [Bloomberg

Spanish unemployment rises to over 21 percent, the highest in Europe, as inflation accelerated and retail sales plunged. [Businessweek]

First yuan-denominated shares to trade outside of mainland China make their debut in Hong Kong in landmark IPO. [Businessweek]

Citigroup appoints Dmitry Ankudinov as head of banking for Russia succeeding Alex Waechter, who will become head of banking for the Commonwealth of Independent States region. [Bloomberg]

Wall Street executives will get more face time with senior bank regulators as Federal Reserve Bank of New York hires 75 to 100 people to its regulatory operation. [Reuters]

U.S. consumer spending rose as inflation posts its biggest year-on-year rise in 10 months. [Reuters]

Warren Buffett to face questions on praising Sokol before audit report. [Bloomberg]