The Other Side of Life 24/7: Daily Investor Briefing: Wall Street falls on fiscal cliff...

Friday, December 21, 2012

Daily Investor Briefing: Wall Street falls on fiscal cliff...

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12/21/2012

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

Wall Street falls on fiscal cliff setback

NEW YORK (Reuters) - U.S. stocks finished lower on Friday after a Republican plan to avoid the "fiscal cliff" failed to gain sufficient support on Thursday night, draining hopes that a deal would be reached before 2013.

"Fiscal cliff" efforts in disarray as US lawmakers flee

WASHINGTON (Reuters) - Efforts to avoid the looming U.S. "fiscal cliff" were thrown into disarray on Friday with finger-pointing lawmakers fleeing Washington for Christmas vacations even as the year-end deadline for action edged ever closer.

ICE's NYSE swoop creates derivatives giant

LONDON/NEW YORK (Reuters) - IntercontinentalExchange Inc agreed as part of its $8.2 billion takeover of NYSE Euronext to pay the New York Stock Exchange operator a termination fee of $750 million if it fails to gain antitrust clearances, suggesting a high level of confidence the deal will go through.

Analysis: Rating agencies won't cut U.S. on fiscal cliff - yet

NEW YORK (Reuters) - The stalled progress in the Washington budget battle may be rattling markets but the gridlock among policymakers will not move the rating agencies to downgrade the United States - yet.

Ex-SAC fund manager indicted in insider trading scheme

NEW YORK (Reuters) - Federal prosecutors on Friday lost one opportunity to build a case against hedge fund manager Steven A. Cohen when a grand jury indicted one of Cohen's former employees on charges related to an insider trading scheme, severely reducing the possibility he would cooperate as a witness against Cohen.

U.S. delays derivative rules for foreign banks

WASHINGTON (Reuters) - The top U.S. derivatives regulator on Friday granted foreign banks more time to meet new rules for swap trading, saying it would continue to fine-tune the regulation that has drawn the wrath of foreign regulators.

Banker sent to New York to face charges in Olympus fraud case

Los Angeles (Reuters) - A former Singapore banker accused of helping "liquidate" hundreds of millions of dollars in an accounting fraud at Japan's Olympus Corp was ordered to face charges in New York after he was arrested in Los Angeles on Thursday.

Exclusive: Gardner Denver-SPX talks end, no deal - source

NEW YORK (Reuters) - Industrial machinery maker Gardner Denver Inc has ended talks with SPX Corp and has invited the private equity firms that made offers for the company to re-engage in a sale process, a source familiar with the matter said on Friday.

U.S. sees "coordinated" foreign strategy to acquire U.S. technology

WASHINGTON (Reuters) - The U.S. intelligence community is warning that "one or more foreign governments" appear to have a "coordinated strategy" to acquire valuable American technology by buying U.S. firms, a U.S. government body said in an annual report.

U.S. ruling on Keystone pipeline could slip again - report

CALGARY, Alberta (Reuters) - A top risk-management analyst warned on Friday that a decision by Washington on TransCanada Corp's Keystone XL pipeline could get delayed again into next summer, adding more pressure to already deeply discounted Canadian oil prices.