Newsletter BOX: Daily Investor Briefing: SAC Capital pleads not guilty, but...

07/26/2013

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

SAC Capital pleads not guilty, but remains silent to investors

NEW YORK (Reuters) - Billionaire investor Steven A. Cohen's hedge fund pleaded not guilty on Friday to insider trading charges in federal court, as investors in the roughly $15 billion fund awaited word on plans for the fund's future.

Wall St. cuts declines heading into close

NEW YORK (Reuters) - Stocks cut earlier declines heading into the closing bell on Friday, with the S&P 500 and Nasdaq pushing into positive territory as shares of Starbucks and Amazon.com rose in the wake of their earnings reports.

Jurors hear of Tourre's Goldman paid leave after SEC lawsuit

NEW YORK (Reuters) - A lawsuit by the U.S. Securities and Exchange Commission may have destroyed his career, as former Goldman Sachs trader Fabrice Tourre put it, but for more than a year it didn't eliminate his pay.

Halliburton plea may help BP in spill liability battle

(Reuters) - BP Plc appeared to gain an edge in the battle over liability for the 2010 Gulf of Mexico spill on Friday, after Halliburton abandoned one of its arguments that tried to paint the British major as unconcerned about well safety.

JPMorgan to exit physical commodities trading

NEW YORK (Reuters) - JP Morgan Chase & Co is exiting physical commodities trading, the bank said in a surprise statement on Friday, as Wall Street's role in the trading of oil tankers, coffee beans and metals comes under intense political and regulatory pressure.

GMAC Mortgage to pay $230 million as part of foreclosure review

WASHINGTON (Reuters) - The Federal Reserve said on Friday that GMAC Mortgage will make $230 million in cash payments to borrowers, in a move that will end an independent, case-by-case review of potentially flawed foreclosures.

Activision to spread its wings after Vivendi sale: CEO

SAN FRANCISCO (Reuters) - Activision Blizzard Inc's CEO, who is shelling out $50 million of his own money in an $8.2 billion deal to buy back most of Vivendi's stake, said the world's largest video game publisher will be freer to pursue acquisitions and grow after emerging from its French parent's wing.

Muni board watching general obligation debt in Detroit case

WASHINGTON (Reuters) - The municipal bond market's self-regulator on Friday said the Detroit emergency manager's proposed treatment of general obligation bonds in the city's bankruptcy case risks changing how investors view what has long been considered the safest class of municipal debt.

FAA proposes $2.75 million quality control fine on Boeing

WASHINGTON (Reuters) - The Federal Aviation Administration on Friday said it was proposing a $2.75 million fine for Boeing's commercial airplane division for failing to take prompt action to fix a problem with fasteners discovered in 2008 on its model 777 airplanes.

Vivendi overhaul gathers pace with $8.2 billion Activision sale

PARIS (Reuters) - Vivendi agreed to sell most of its stake in Activision Blizzard, the world's largest videogames publisher, for $8.2 billion on Friday, paving the way for a broader split of the French conglomerate's media and telecoms assets.