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Monday, April 1, 2013

Reuters Money: BRICs, move over. TIMPs are the new emerging market stars

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04/1/2013

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

BRICs, move over. TIMPs are the new emerging market stars

LONG BEACH, California (Reuters) - One day you're a hot young thing and everybody loves you. Then suddenly you're more mature, move a bit slower, and some hotter thing is threatening to replace you.

Public pension holdings highest since 2007 peak: U.S. Census

NEW YORK (Reuters) - Public pensions reached a milestone in the fourth quarter of 2012 when assets rose to the highest since a peak just before the financial crisis, according to Census data released on Thursday.

IRS broadens identity theft tax crackdown to all 50 states

WASHINGTON (Reuters) - The U.S. Internal Revenue Service on Thursday broadened a crackdown on tax related identity theft to include all 50 states, allowing local law enforcement officers limited access to IRS documents.

U.S. asks Liechtenstein for data in tax evasion probe

ZURICH (Reuters) - United States prosecutors have asked Liechtenstein to hand over data on foundations and other financial vehicles as part of their investigation into tax evasion by wealthy Americans.

Relational supports Elliott nominees to Hess board

NEW YORK (Reuters) - Activist investment firm Relational Investors LLC plans to support a slate of directors nominated to Hess Corp's board by hedge fund Elliott Management, saying those nominees would assure greater accountability at the oil and gas company.

Wells Fargo says it has resolved debit card glitch

(Reuters) - Wells Fargo & Co said on Wednesday that customers had experienced problems early in the day using their debit cards but the "technical glitch" that prevented use of the cards had been fixed.

"Cyprus euro" a boon to U.S. dollar: James Saft

(Reuters) - One clear winner from Cyprus'S imposition of capital controls is the U.S. dollar, which stands to benefit from public and private flows after another round of damage to the euro's reserve currency status.

SAC's Cohen pays $60 million for Hamptons oceanfront home: NYT

(Reuters) - Steven A. Cohen, the hedge find titan who runs SAC Capital Advisors, agreed last week to buy an oceanfront home in East Hampton, New York for $60 million, the New York Times said, citing a person with direct knowledge of the sale.

U.S. court denies IRS petition to revive tax preparer rules

WASHINGTON (Reuters) - The U.S. Internal Revenue Service on Wednesday lost a request to prevent the partial shutdown of its tax return preparer regulatory program pending an appeal.

U.S. takes steps to ease burden on struggling homeowners

WASHINGTON (Reuters) - The top housing regulator said on Wednesday it will make it easier for struggling homeowners to lower monthly mortgage payments through a federal anti-foreclosure program.