Business Today: Obama administration defends massive phone record collection

	Click to View in Browser 06/6/2013 Obama administration defends massive phone record collection WASHINGTON (Reuters) - The Obama administration on Thursday defended its collection of the telephone records of millions of Americans as part of U.S. counterterrorism efforts, re-igniting a fierce debate over privacy even as it called the program critical to warding off an attack. IRS officials try to tame conference spending scandal WASHINGTON (Reuters) - Internal Revenue Service officials on Thursday tried to tame another scandal plaguing the agency, apologizing to lawmakers for a lavish 2010 conference in California that included an elaborate Star Trek spoof training video. Analysis: SAC insider-trading probe could last years NEW YORK (Reuters) - The conventional wisdom on Wall Street is the clock is running out for U.S. prosecutors to make a case against billionaire trader Steven A. Cohen and his hedge fund SAC Capital Advisors after years of investigation. Wall St. ends higher in late rebound NEW YORK (Reuters) - Stocks rose on Thursday, with the S&P 500 recovering after hitting a key technical level in volatile trading a day before the release of the government's jobs report for May. Wal-Mart has no U.S. grocery delivery expansion plans for now ROGERS, Arkansas (Reuters) - Wal-Mart Stores Inc has no immediate plans to expand its U.S. online grocery delivery beyond a test in California because it is not yet convinced there is sufficient demand, the head of the company's global e-commerce division said on Thursday. S&P wins transfer of ratings lawsuits to New York (Reuters) - Standard & Poor's and its parent company McGraw Hill Financial Inc on Thursday won a ruling that moves 15 lawsuits in which they were accused of fraudulently inflating credit ratings to a single federal court. Trader assets frozen by U.S. court after Smithfield deal WASHINGTON (Reuters) - U.S. regulators have obtained a court order freezing the assets of a Thailand-based trader, saying he reaped $3.2 million in illegal profits after getting a tip ahead of the announcement that a Chinese meat company was buying Smithfield Foods Inc. Institutional investor group urges U.S. retailers to back Bangladesh accord (Reuters) - A group representing over 200 institutional investors has urged U.S. retailers to sign a global accord that promotes safety of garment workers in Bangladesh and drop attempts to back an alternative initiative. Bombardier senior aircraft executive says no signs of delay on CSeries TORONTO (Reuters) - Canada's Bombardier Inc is not expecting any more delays on its C$3.4 billion ($3.30 billion) CSeries jetliner program, a senior executive said on Thursday. For two hedge funds, SAC redemptions hit close to home NEW YORK (Reuters) - Two small investment firms that manage money for SAC Capital Advisors have a lot at stake, as billionaire investor Steven A. Cohen moves to return about $4 billion to his outside investors. Related Video Techquity: Mobile and cloud computing boost networkers Wealth Strategies: Investor confidence coming back - LPL Economic News Jobless claims fall, labor market gradually improving Markets might have gone too far on taper talk: Fed's Plosser A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend