SEC voted unanimously to pursue charges against SAC’s Cohen: sources

By Sarah N. Lynch WASHINGTON (Reuters) – U.S. securities regulators were united in their decision to file civil charges against billionaire hedge fund owner Steven A. Cohen last week, in a high-stakes case that could result in Cohen being barred from the industry, people familiar with the case told Reuters. The charges by the Securities […]

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The Most Valuable Superhero of All Time

If you’re in San Diego this week, don’t be alarmed if you see large numbers of Iron Mans, Captain Americas, Ninja Turtles, Superwomans, Storm Troopers and Batmans roaming the streets. Comic book fans are converging at the San Diego Convention Center for the annual Comic-Con conference that begins Thursday. The conference, which is expected to […]

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Detroit Will Get Worse Before It Gets Better

Detroit filed for bankruptcy protection on Thursday and the Motor City’s debts and liabilities are estimated to be as high as $20 billion, making Detroit’s bankruptcy the largest in U.S. history. Heidi Ewing, a Michigan native and co-director of “Detropia,” a documentary that gives an unvarnished look into Detroit’s political dysfunction and financial decay, expects […]

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S&P 500 Closes at Record High Despite Tumbling Tech

By Caroline Valetkevitch NEW YORK (Reuters) – The Dow and Nasdaq stock gauges fell on Friday as disappointing results from Microsoft and Google dragged on the market, while the SP 500 index edged up to end at a second straight record high. Stronger-than-expected results from General Electric Co (GE) and oilfield services company Schlumberger NV […]

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Moody’s eases off threat of U.S. rating cut, affirms Aaa

NEW YORK (Reuters) – Moody’s Investors Service on Thursday raised the U.S. sovereign outlook to stable from negative and affirmed the country’s triple-A rating, citing steady growth despite reduced government spending. The rating agency’s move eased the threat of a cut to the world’s biggest economy. Moody’s said the federal government’s debt trajectory is on […]

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Dollar firms up, shares sag after Bernanke

Dollar firms up, shares sag after BernankeReuters Shares sagged on Thursday and the dollar firmed up after the head of the Federal Reserve reiterated the U.S. central … From: http://us.rd.yahoo.com/finance/news/rss/story/SIG=14lq0kt36/*http%3A//us.rd.yahoo.com/finance/news/topfinstories/SIG=12if59hv7/*http%3A//finance.yahoo.com/news/bernanke-drives-asian-shares-near-004737734.html?l=1

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Bernanke: Fed to Taper Later This Year

Federal Reserve Chairman Ben Bernanke said the central bank anticipates beginning tapering bond purchases later this year but that policy will remain accommodative and could change depending on the incoming economic data. In his semiannual monetary report before the House financial services committee, the Fed chairman said, “With unemployment still high and declining only gradually, […]

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Yahoo! Second-Quarter Net Revenue Dips, Profit Beats Street

Yahoo! Second-Quarter Net Revenue Dips, Profit Beats StreetReuters Yahoo! Inc’s second-quarter net revenue was down slightly at $1.071 billion, as the Internet company posted adjusted … From: http://us.rd.yahoo.com/finance/news/rss/story/SIG=14k4h82id/*http%3A//us.rd.yahoo.com/finance/news/topfinstories/SIG=12hs7ldl2/*http%3A//finance.yahoo.com/news/yahoo-second-quarter-net-revenue-201240969.html?l=1

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S&P 500 gains for an eighth day, boosted by Citigroup

By Caroline Valetkevitch NEW YORK (Reuters) – Citigroup’s strong earnings helped the SP 500 end higher on Monday for an eighth straight day, the longest such streak since mid-January, though weak retail sales limited gains in a session with the lowest volume of the year. The Dow Jones industrial average and the SP 500 finished […]

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Stocks, Aussie dollar rise on better Chinese data

Stocks, Aussie dollar rise on better Chinese dataReuters European stocks rose on Monday along with the commodities-linked Australian dollar after data suggested China’s … From: http://us.rd.yahoo.com/finance/news/rss/story/SIG=14mth4gif/*http%3A//us.rd.yahoo.com/finance/news/topfinstories/SIG=12js1r287/*http%3A//finance.yahoo.com/news/asian-stocks-holding-pattern-ahead-003442246.html?l=1

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