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Monday, December 3, 2012

Reuters Money: Rating agencies win dismissal of Ohio funds lawsuit

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12/3/2012
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
Rating agencies win dismissal of Ohio funds lawsuit
(Reuters) - The three major credit rating agencies won a fresh court victory as a federal appeals court rejected claims by five Ohio pension funds alleging that they lost hundreds of millions of dollars on risky mortgage debt because they relied on flawed ratings.
Meet the wealth management firm of the future
(Reuters) - When David Drucker and Joel Bruckenstein wrote a book about technology innovations for advisers in 2002, many readers were skeptical of their recommendations to use email and create a website.
U.S. firms cut equity holdings to six-month low in November: Reuters poll
NEW YORK (Reuters) - U.S. investment firms took a more defensive stance in November, cutting their average equity holdings to a six-month low even as European firms raised them, a Reuters poll showed on Monday.
Global funds' concerns about U.S. fiscal cliff, euro debt crisis ease: Reuters poll
LONDON (Reuters) - Global investors increased their equity overweight positions to a 20-month high in November, boosting their holdings of riskier assets as they became less concerned about fiscal woes on both sides of the Atlantic, a Reuters poll showed.
November factory activity quickens, Sandy a factor: Markit
NEW YORK (Reuters) - Rising demand from domestic and foreign customers helped U.S. manufacturing grow in November at its quickest pace in six months, an industry survey showed on Monday, though hiring remained sluggish.
Insight: Krawcheck, possible SEC head, raises Washington image
NEW YORK (Reuters) - Sallie Krawcheck has been quietly raising her profile in Washington. For six months the former executive at Bank of America and Citigroup has been meeting with lawmakers on both sides of the aisle, offering her insights on a variety of issues including "too big to fail banks" and money market fund reform.
UK investors eye recovery, keep cutting back cash
LONDON (Reuters) - British investors continued to cut cash and increase their exposure to euro zone equities in November, picking up stocks oversold in the panic over the currency bloc's debt crisis, a Reuters poll showed.
Analysis: SAC's Cohen shows no signs of retreat despite scandal
NEW YORK - Hedge fund industry titan Steven A. Cohen appears to have made up his mind about one thing - he has no plans to do anything but run his $14 billion SAC Capital Advisors even as U.S. authorities are breathing down his neck.
Insight: Lawyers gain from "say-on-pay" suits targeting U.S. firms
NEW YORK (Reuters) - Since the Dodd-Frank law gave shareholders a say in executive pay in 2010, courts have routinely rebuffed efforts by shareholders to force companies to heed their voice.
New York City comptroller proposes bonds to strip PCBs from schools
(Reuters) - New York City Comptroller John Liu on Friday proposed borrowing $407 million through a new bond program to remove dangerous toxins from public schools.
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