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Tuesday, July 8, 2014

Daily Investor Briefing: Exclusive: Accountant's plea signals...

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07/8/2014
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Exclusive: Accountant's plea signals more possible scrutiny of Madoff son
NEW YORK (Reuters) - U.S. prosecutors may still be building a case against imprisoned swindler Bernard Madoff's only surviving son, who according to sources was one of the "co-conspirators" mentioned in a plea deal by a Madoff associate last month.
Stocks fall for second day on earnings caution
NEW YORK (Reuters) - U.S. stocks fell in a broad selloff on Tuesday, dropping for a second straight session as investors exercised caution ahead of the start of earnings season.
Rengan Rajaratnam cleared, U.S. insider trading streak snapped
NEW YORK (Reuters) - Rengan Rajaratnam, the younger brother of convicted Galleon Group founder Raj Rajaratnam, was cleared on Tuesday of conspiring to engage in insider trading while at the hedge fund, ending a five-year winning streak by U.S. prosecutors.
Alcoa reports second-quarter profit, shares rise
(Reuters) - Aluminum producer Alcoa Inc reported a second-quarter profit on Tuesday, which included $78 million in special items tied to a previously announced restructuring aimed at reducing the cost base of its commodity business.
Fed's Kocherlakota gives lukewarm welcome to U.S. unemployment drop
MINNEAPOLIS (Reuters) - One of the Federal Reserve's most dovish policymakers on Tuesday welcomed the recent drop in U.S. unemployment but warned the labor market has a long way to go until the U.S. central bank has reached its goal.
U.S. in sanctions talks with Commerzbank and Deutsche: source
FRANKFURT (Reuters) - U.S. authorities have begun settlement talks with Germany's Commerzbank and Deutsche Bank over their dealings with countries blacklisted by the United States, extending a crackdown on European banks at a delicate point in U.S.-German relations.
No decision on whether grounded F-35s will be ready for air show: Pentagon
WASHINGTON (Reuters) - No decision has been made yet on whether to send a group of F-35 Joint Strike Fighters to Britain this week for the plane's international debut at two air shows after the fleet was grounded in response to an engine fire, the Pentagon said on Tuesday.
World Bank's IFC asks for review of Itau, CorpBanca deal
SANTIAGO (Reuters) - The International Finance Corp (IFC), the World Bank's private investment arm, is seeking an independent analysis of Brazilian bank Itaú Unibanco Holding SA's planned takeover of Chile's CorpBanca, in which the IFC holds a 5 percent stake.
France's Valls urges end to strike at 'sinking' ferry group SNCM
PARIS (Reuters) - Workers at France-Corsica ferry operator SNCM must end their strike and let the troubled company undergo a restructuring to secure its future, Prime Minister Manuel Valls said on Tuesday.
Argentina to meet again with debt mediator, bonds rise
BUENOS AIRES (Reuters) - Argentina said on Tuesday it would meet with a mediator in the country's dispute with holdout investors for a second time this week, lifting market hopes for a deal needed to avoid another painful debt default.
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