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U.S. judge awards $40.7 mln in SEC case over bitcoin Ponzi scheme
09/19/2014  |  17:00
By Jonathan StempelSept 19 (Reuters) - A U.S. federal judge in Texas ordered Bitcoin Savings and Trust and its owner to pay a combined $40.7 million after the Securities and Exchange Commission established that the company, which sold investments using the virtual currency, was a Ponzi scheme....

CalSTRS to nearly triple clean energy, technology investments
09/19/2014  |  19:56
NEW YORK, Sept 19 (Reuters) - The California State Teachers' Retirement System pension fund plans to nearly triple its investments in clean energy and technology to $3.7 billion over the next five years in a push toward low-carbon investments, the fund said on Friday....

UPDATE 1-Russia's VTB to take legal action over Mechel debts - RIA
09/19/2014  |  15:09
(Adds comment from Mechel CEO)MOSCOW, Sept 19 (Reuters) - Russian bank VTB will have to take legal action to recover debts from Mechel after other attempts to help the struggling steelmaker failed, RIA news agency quoted VTB's chief executive as saying on Friday.Russian officials have been looking at ways of helping Mechel, which has debts of $8....

U.S. SEC probing Goldman Sachs internship for brother of Libyan ex-official -WSJ
09/19/2014  |  02:11
Sept 18 (Reuters) - U.S. regulators are investigating a Goldman Sachs Group Inc internship for the brother of a former official at Libya's sovereign wealth fund and perks allegedly offered by the bank to the fund, the Wall Street Journal reported on Thursday, citing people familiar with the matter....

Man who ate napkins to conceal insider trading pleads guilty
09/19/2014  |  20:37
By Jonathan StempelSept 19 (Reuters) - A Brooklyn, New York mortgage broker, who would scribble secret stock tips on napkins and pass them to an accomplice in Grand Central station before eating them, pleaded guilty to insider trading on Friday, federal prosecutors said.Frank Tamayo, 41, was the middleman in what prosecutors called a three-man scheme that generated $5....

U.S. dollar net longs little changed from last week-CFTC, Reuters
09/19/2014  |  20:02
Sept 19 (Reuters) - Speculators' bets favoring the U.S. dollar were flat in the latest week, with buying of the greenback slowing after hitting 15-month highs two weeks ago, according to data from the Commodity Futures Trading Commission released on Friday....

UPDATE 1-UK markets swinging towards Scottish "No"
09/18/2014  |  16:15
* Investors grow confident "No" vote will win* All but one of basket of Scottish-based stocks higher* Sterling tops $1.64 for first time in two weeks* Yes vote would be barrier to Bank of England rate rise (Adds more market moves, quotes)By Anirban Nag and Sudip Kar-GuptaLONDON, Sept 18 (Reuters) - British financial markets were laying bets that Scots would vote "No" on independence on Thursday, pushing the pound to a two-year peak against the euro and Scotland-based stocks higher in the final hours of polling....

Big institutions no guarantee of stability for Alibaba IPO
09/18/2014  |  17:56
By Akane Otani, Liana B. Baker and Jessica ToonkelNEW YORK, Sept 18 (Reuters) - When Alibaba Group Holding Ltd begins trading on Friday the shares may not be able to avoid the kind of volatility typically seen in trading of eagerly anticipated IPOs, even as the bulk of the shares sold are expected to reside with 25 to 50 behemoth institutions....

Investment adviser agrees to pay $600,000 to settle SEC charges on trading
09/18/2014  |  20:20
By Suzanne BarlynSept 18 (Reuters) - A Tacoma, Washington-area investment advisory firm that engaged in hundreds of trades that regulators said represented a conflict of interest has agreed to pay $600,000 in sanctions, the U.S....

U.S. IRS not keeping up with rise in big business partnerships
09/18/2014  |  20:52
By Kevin DrawbaughWASHINGTON, Sept 18 (Reuters) - More large U.S. businesses are organizing as partnerships, rather than corporations, and the tax-collecting U....

Human rights group sues SEC over delays on resource extraction rule
09/18/2014  |  15:18
By Sarah N. LynchWASHINGTON, Sept 18 (Reuters) - A human rights organization sued the U.S. Securities and Exchange Commission on Thursday, saying the agency is "unlawfully" delaying work on a rule that would require oil, gas and mining companies to disclose payments they make to foreign governments....

Reinsurers under pressure to mark out global or specialist turf
09/18/2014  |  15:13
By Jonathan GouldMONACO, Sept 18 (Reuters) - Reinsurers are being squeezed by price competition and subdued demand from insurers for their products, and traditional mergers may not be enough to save those that lack either global reach or specialised focus.Medium-sized, 'me-too' reinsurers are ripe for consolidation, executives at the industry's annual meeting in the Mediterranean resort of Monte Carlo said this week, with many wondering which companies might be around to attend in 2015....

GRAPHIC-Investors pricing Russia credit ratings downgrade
09/18/2014  |  14:43
By Sujata Rao and Vincent FlasseurLONDON, Sept 18 (Reuters) - Investors are starting to price the risk of Russia's credit rating falling to junk if Western sanctions and Moscow's response plunge the economy into recession and deplete its $450 billion reserves.Being investment grade - at least BBB minus from Standard & Poor's and Fitch or Baa3 from Moody's - allows a borrower to tap a far wider pool of investors, and losing that ranking would be likely to cause big outflows from Russian markets....

UBM says in talks to buy US trade show rival Advanstar
09/18/2014  |  06:47
Sept 18 (Reuters) - UBM Plc, a British communications and events company, confirmed that it was in talks to acquire Advanstar, a privately held U.S. trade show organizer....

Alibaba set to price IPO shares amid investor frenzy
09/18/2014  |  05:00
Sept 18 (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd is set to sell some $22 billion of shares on Thursday, capping a two-week road show that drew frenzied interest from investors worldwide and may be the world's largest ever initial public offering.The shares are expected to be priced after the markets close at 4 p....

Abu Dhabi's Waha Capital to buy back up to 10 pct of stock
09/18/2014  |  04:44
DUBAI, Sept 18 (Reuters) - Abu Dhabi-listed investment firm Waha Capital plans to buy back up to 10 percent of its outstanding shares, pending regulatory approval, the company said on Thursday without disclosing the price it would offer.Waha said the programme, approved by its board on Wednesday, would allow it to repurchase up to 194 million shares....

UPDATE 2-DoubleLine files with SEC to register Long Duration Bond Fund
09/17/2014  |  22:28
(Adds detail on Gundlach, new fund)By Jennifer AblanNEW YORK, Sept 17 (Reuters) - Jeffrey Gundlach's DoubleLine Funds filed on Wednesday with the U.S....

U.S. Treasury will monitor bank liquidity rule on munis- official
09/17/2014  |  21:47
CHICAGO, Sept 17 (Reuters) - The U.S. Treasury will monitor the impact of a recent bank liquidity rule on the cost of new municipal debt issuance, a federal official said on Wednesday....

UPDATE 1-DoubleLine files with SEC to register Long Duration Bond Fund
09/17/2014  |  21:55
(Adds DoubleLine declined to comment, details of Long Duration Bond Fund; byline)By Jennifer AblanNEW YORK, Sept 17 (Reuters) - Jeffrey Gundlach's DoubleLine Funds filed on Wednesday with the U.S....

UPDATE 2-U.S. atty general urges changes to fight more Wall St crime
09/17/2014  |  20:14
(Adds details from second speech, background)By Aruna Viswanatha and Nate RaymondWASHINGTON/NEW YORK, Sept 17 (Reuters) - U.S. Attorney General Eric Holder on Wednesday called for Congress to take steps to help prosecutors build criminal cases against senior Wall Street executives, saying companies often insulated their leaders from responsibility for misconduct....

Luxembourg opens art freeport to lure super-rich
09/17/2014  |  19:37
* Luxembourg joins small, but growing number of freeports* Tapping into interest in high-value physical assets* Centres crammed with bullion, fine wine, sculptureBy Philip BlenkinsopLUXEMBOURG, Sept 17 (Reuters) - Private banking hub Luxembourg sought to lure more wealthy investors on Wednesday by opening a high-security centre designed to look like a jewel box, where collectors can store and trade valuables without paying customs or sales tax.Studded with stones and surrounded by walls and barbed wire, the Luxembourg Freeport has four bullion chambers guarded with 50cm-thick metal doors, and four other chilled rooms designed to hold 700,000 bottles of fine wine, said staff....

UBS says took action over electronic messaging by Singapore staff
09/17/2014  |  17:48
ZURICH, Sept 17 (Reuters) - UBS said on Wednesday it had taken action against staff in Singapore for their use of electronic messaging, highlighting how banks have clamped down following probes into interest rate setting and foreign exchange trading.The Swiss bank said a report on Swiss finance blog Inside Paradeplatz website that it had fired employees in Singapore for allegedly using individual and group WhatsApp messages to send sensitive documents to each other was inaccurate....

Asset grab? Turf war? Tycoon's arrest strikes business climate in Russia
09/17/2014  |  14:28
By Elizabeth Piper, Anastasia Teterevleva and Vladimir SoldatkinMOSCOW, Sept 17 (Reuters) - It's a tune straight from Vladimir Putin's old songbook: a Russian billionaire under house arrest over vague accusations about a murky past deal, causing a meltdown in the shares of his empire of privatised assets.Vladimir Yevtushenkov's Sistema conglomerate lost a third of its value on Wednesday after he was accused of money laundering in a multi-billion dollar deal to acquire a regional oil company five years ago....

COMPLY-Wall St. watchdog signals shift in bonus disclosure plan
09/17/2014  |  14:19
By Suzanne BarlynSept 17 (Reuters) - A controversial plan that would have required job-switching securities brokers to disclose signing bonuses to their clients is making a comeback, but the new version may be weaker and bear little resemblance to the original, some lawyers say.The Financial Industry Regulatory Authority (FINRA), Wall Street's industry-funded watchdog, will present a revised recruitment practices proposal to its board of governors on Friday, Sept 19, according to an agenda on the regulator's website....

Investors tamp down their hopes for mining-company payouts
09/17/2014  |  13:43
* Iron ore prices plummet nearly 40 pct this year* 'The end of the Iron Age is here,' Goldman warns* Junior miners facing extinction threatBy Atul Prakash and Blaise RobinsonLONDON, Sept 17 (Reuters) - Investors are facing up to a decline in their lucrative returns from mining shares, as falling prices for iron ore and copper are set to force mining companies to cut their generous dividends.The change in thinking comes as investors reassess the potential for European shares in general....

UPDATE 1-USDA chief says urged Buffett to ready BNSF for record crops
09/17/2014  |  02:35
(Adds comment from Canadian Pacific)WASHINGTON, Sept 16 (Reuters) - U.S. Agriculture Secretary Thomas Vilsack met with Warren Buffett last week to urge the billionaire investor to make sure his BNSF railroad is ready for an expected record corn and soy harvest this year....

ANALYSIS-S&P 500 powers on in a market without big pullback
09/16/2014  |  18:42
By Rodrigo CamposNEW YORK, Sept 16 (Reuters) - For all of those waiting for a correction in U.S. stocks, here's the news: you may have already missed it....

UPDATE 1-Morgan Stanley takes stake in Magnum Hunter natgas pipelines
09/16/2014  |  18:34
(Adds details from Morgan Stanley)Sept 16 (Reuters) - Magnum Hunter Resources Corp said on Tuesday it will sell a stake in a natural gas gathering unit in U.S....

UPDATE 1-Goldman Sachs gets strong demand for landmark sukuk issue
09/16/2014  |  16:58
* Size $500 mln; order book about $1.5 billion* Issued at only smell premium to outstanding bond* Cash-rich Islamic funds eager for new credits* Appears to satisfy concerns that sank 2011 plan* More conventional banks may follow (Adds profit rate, comment, analysis)By Archana NarayananDUBAI, Sept 16 (Reuters) - Goldman Sachs raised $500 million with its debut sale of Islamic bonds on Tuesday, becoming the first conventional U....

UPDATE 1-U.S. SEC imposes $9 million in sanctions for short-sale violations
09/16/2014  |  17:03
(Adds details from case, background on SEC crackdown, comments from BlackRock)By Sarah N. LynchWASHINGTON, Sept 16 (Reuters) - Nineteen trading firms and one trader will pay $9 million to collectively settle civil charges alleging they participated in a stock offering after shorting the stock during a restricted period, U....

UPDATE 2-Wilson Sonsini tech engineer charged with insider trading
09/16/2014  |  19:44
(Adds different spelling of Braverman's first name, details from SEC complaint)By Nate Raymond and Jonathan StempelNEW YORK, Sept 16 (Reuters) - An information technology engineer at Wilson Sonsini Goodrich & Rosati was arrested on Tuesday and charged with insider trading on information he learned while working at the prominent Silicon Valley law firm.Dimitry Braverman, 41, was charged with one count of securities fraud in a criminal complaint filed in New York....

UPDATE 2-Sale of storage company PODS being explored - sources
09/16/2014  |  16:32
(Adds background on PODS' ownership)By Greg Roumeliotis and Soyoung KimNEW YORK, Sept 16 (Reuters) - PODS Enterprises Inc, a U.S. moving and storage company managed by private equity firm Eagle Merchant Partners, is exploring a sale of that could value it at around $1 billion, including debt, according to people familiar with the matter....

UPDATE 1-U.S. SEC's Gallagher calls for reforms in fixed income markets
09/16/2014  |  18:15
(Adds more background about CUSIPs)By Sarah N. LynchWASHINGTON, Sept 16 (Reuters) - A top U.S. regulator called on Tuesday for major reforms in the fixed income markets, saying many of the rules are out of date and lack enough protections for retail investors....

ANALYSIS-As US farm cycle turns, tractor makers may suffer longer than farmers
09/16/2014  |  05:00
By James B. KelleherCHICAGO, Sept 16 (Reuters) - Farm equipment makers insist the sales slump they face this year because of lower crop prices and farm incomes will be short-lived....

After standoff, Vale and China's Cosco both claim shipping victory
09/16/2014  |  00:06
By Stephen Eisenhammer and Brenda GohRIO DE JANEIRO/SHANGHAI Sept 15 (Reuters) - In the end, the answer to Brazilian miner Vale's Chinese shipping problem turned out to be in the problem itself.For two years, Vale SA's Valemax mega-ships - designed to cut the costs of transporting iron ore to China - have not been allowed to dock at Chinese ports, stalling the miner's $4 billion strategy....

ANALYSIS-Canada oil-train boom may thwart winter crude price slump
09/15/2014  |  19:39
By Nia WilliamsCALGARY, Alberta, Sept 15 (Reuters) - Each winter for the past four years, Canadian oil sands producers have watched in dismay as local crude prices slumped.Limited export pipeline capacity coupled with the end of the U....

UPDATE 5-Alibaba boosts IPO as demand strengthens
09/15/2014  |  21:30
(Adds maximum amounts raised, details on company and demand)By Elzio Barreto, Fiona Lau and Liana B. BakerHONG KONG/NEW YORK, Sept 15 (Reuters) - Alibaba Group Holding Ltd raised the price range on its initial public offering to $66 to $68 on Monday, reflecting strong demand from investors for the year's most anticipated debut and potentially the world's largest-ever IPO....

UPDATE 2-Argentina says to eke out growth in 2014; economists skeptical
09/15/2014  |  21:31
(Adds comments from economy minister and analyst)By Maximiliano RizziBUENOS AIRES, Sept 15 (Reuters) - Argentina's economy will eke out growth of 0.5 percent this year and inflation will hit 21....

UPDATE 2-Bankrate reveals SEC probe, says CFO resigns
09/15/2014  |  15:40
* SEC probing accruals and expenses worth over $1.5 mln* CFO Edward DiMaria resigns; to continue as senior VP* Shares fall as much as 23 pct (Adds analyst comment, updates shares)By Neha DimriSept 15 (Reuters) - Bankrate Inc, which runs websites comparing personal finance packages, said U....

WRAPUP 2-Major reinsurers see slowing price falls, new markets
09/15/2014  |  13:50
* Swiss Re expects natural catastrophe price fall to slow* Sees cover demand up some 50 pct in mature markets by 2020* Hannover Re says retains market share, sees opportunities* Munich Re says risks must be priced right for long term (Adds broker, industry comment, context)By Joshua Franklin and Jonathan GouldZURICH/MONACO, Sept 15 (Reuters) - The world's biggest reinsurers put a brave face on the outlook for an increasingly crowded business on Monday, saying they expected a slowing decline in prices and new opportunities in some markets.The top reinsurers, meeting in the Mediterranean resort of Monte Carlo this week for their annual conference, are sitting on large cash piles but face risks to their business from falling demand from insurance companies and new entrants such as hedge funds....

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