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Friday, February 15, 2013

Reuters Money: Big hedge funds fueled fourth-quarter dive in Apple shares

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02/15/2013
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
Big hedge funds fueled fourth-quarter dive in Apple shares
BOSTON (Reuters) - Some of the biggest hedge funds that helped make Apple Inc a stock market darling lost faith and dumped their stakes in the fourth quarter, fueling the massive drop in the iPhone maker's share price.
Lehman seeks to question JPMorgan's "London Whale"
NEW YORK (Reuters) - Lehman Brothers Holdings Inc is seeking court permission to question the JPMorgan Chase & Co trader known as the "London Whale" in connection with its $8.6 billion lawsuit accusing the largest U.S. bank of driving it into bankruptcy.
Hedge funds peddle pricey risk
(Reuters) - Here's a choice: take the typical hedge fund return and pay 2 percent annually and 20 percent of the spoils or use a derivative strategy so simple it doesn't even need an elevator pitch.
How to deal with your shrunken paycheck in 2013
NEW YORK (Reuters) - The payroll tax cut quietly expired at the end of 2012, and for many American families who are struggling to keep pace in a tight economy, that has raised questions of what to do.
Minimum wage hike may hurt corporate profits, Obama says
WASHINGTON (Reuters) - President Barack Obama said on Thursday that raising the minimum wage, as he has proposed, might trim corporate profits, but he added that U.S. firms were enjoying robust earnings and needed customers with money to spend.
Ex-Stanford executives get 20 years over roles in $7 billion fraud
(Reuters) - The final two defendants convicted for helping the former Texas billionaire financier Allen Stanford swindle investors were each sentenced on Thursday to 20 years in prison over their roles in his $7.2 billion Ponzi scheme.
Wall Street waits to see if investors still love SAC Capital
NEW YORK (Reuters) - Outside investors in Steven A. Cohen's SAC Capital Advisors have until the end of the day to decide if they still love the embattled billionaire hedge fund manager.
Merrill restarts coverage of online brokerages
NEW YORK (Reuters) - After a seven-month hiatus, Bank of America Merrill Lynch reinstated coverage of discount securities brokers, giving the equivalent of a buy, a sell and a hold on the three biggest publicly traded companies.
Blackstone largely sticks with SAC Capital, gets better terms
(Reuters) - Blackstone Group, one of the world's most powerful hedge fund investors, is largely sticking with Steven A. Cohen's SAC Capital Advisors but has negotiated more favorable liquidity terms, spokesman Peter Rose said in a statement.
JP Morgan star trader Gulati quits to set up hedge fund: FT
(Reuters) - JPMorgan Chase & Co's global head of equity proprietary trading has quit the investment bank to set up a hedge fund in Switzerland, the Financial Times reported on Thursday.
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