Newsletter BOX: Reuters Money: Bad JC Penney bet calls Ackman's retail acumen into question

08/14/2013

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

Bad JC Penney bet calls Ackman's retail acumen into question

BOSTON (Reuters) - Billionaire investor William Ackman has been tripped up by a bet that he could transform a giant retailer.

Early start-ups attract supersized funding rounds

SAN FRANCISCO (Reuters) - Cash-strapped start-ups need look no further than Looker Data Sciences for evidence the investment boom is alive and well.

SEC wins dismissal of lawsuit over handling of $7 billion Stanford fraud

(Reuters) - A federal judge in Florida has thrown out a lawsuit accusing the U.S. Securities and Exchange Commission of negligence for failing to report that the now-imprisoned swindler Allen Stanford was running a $7.2 billion Ponzi scheme.

FBI arrests seven in international penny stock fraud

NEW YORK (Reuters) - Seven people who ran a more than $140 million scheme that preyed on investors in 35 countries by fraudulently inflating the price of penny stocks have been arrested, U.S. prosecutors said on Tuesday.

Will rising rates bring rising stocks?

CHICAGO (Reuters) - For years, the conventional wisdom has been that rising interest rates are no friend of the stock market. A combination of higher costs of borrowing and potential inflation can be a one-two punch for companies and consumers.

Column: Companies not playing along with Abenomics - James Saft

(Reuters) - Abenomics has a critical weakness: Japan's companies are not playing along and it's hard to blame them.

Evercore Wealth hires strategist from GenSpring

(Reuters) - Evercore Wealth Management LLC said Tuesday it has expanded its national wealth advisory service with the hiring of a senior strategist from GenSpring Family Offices.

More investors raise Treasuries bets after supply: JPM survey

NEW YORK (Reuters) - Most investors increased their holdings of longer-dated Treasuries, betting their yields will decline after last week's $72 billion supply for the government's quarterly refunding, according to a survey released on Tuesday by J.P. Morgan Securities.

Financial education when home becomes the college dorm

BOSTON (Reuters) - Raysha Duncan grew up less than 15 minutes from Purdue University, so when she started at the West Lafayette, Indiana, school three years ago, it made sense for her to live at home and save the high cost of room and board.

IRS extends deadline for 'innocent spouse' tax relief application

WASHINGTON (Reuters) - Moving to help victims of domestic violence and others, the U.S. Internal Revenue Service on Monday proposed rules to extend the amount of time taxpayers can apply for its "innocent spouse" relief program which stops collection of taxes in certain situations.