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Tuesday, October 2, 2012

Reuters Money: Promises, lies and the interbank market: James Saft

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10/2/2012
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
Promises, lies and the interbank market: James Saft
(Reuters) - Maybe it is time to accept that there is no such thing, really, as a free and independent inter-bank lending market.
As Medicare drug premiums soar, it's time to shop around
CHICAGO (Reuters) - Premiums for many popular Medicare prescription drug plans will soar next year - but seniors don't have to take the rate hikes lying down.
New investment chief says Vanguard to stay lowest cost
NEW YORK (Reuters) - Tim Buckley, who takes over as chief investment officer at The Vanguard Group in January, has never managed money in his 20 years at the firm. He has no plans to make big market calls and he won't micro-manage his team's thinking or strategies.
U.S. office market barely gains in third quarter
NEW YORK (Reuters) - The U.S. office market recovery remained stalled in the third quarter as uncertainty over the upcoming federal elections, U.S. tax policy and Europe's fiscal problems crimped job growth, keeping demand for office space limp and rent growth anemic.
Venture capital for medical technology harder to come by: report
CHICAGO (Reuters) - Venture capitalists, long the lifeblood of medical technology firms, are growing cautious on the sector after seeing their returns squeezed in a time of growing cost pressures for healthcare, a report by Ernst & Young said.
Retail trade group sees holiday sales growth slowing
(Reuters) - Retail sales should rise 4.1 percent this holiday season, slower growth than in the past two years as mixed economic data and political uncertainty weigh on consumers, the world's largest retail trade association said.
Tax evasion charged as probe of failed U.S. bank widens
WASHINGTON (Reuters) - A Kentucky businessman was arrested on Monday and charged with evading $53 million in taxes in a multi-faceted case stemming from an ongoing U.S. investigation of failed Park Avenue Bank.
Marcato's McGuire bets on housing recovery by investing in land
NEW YORK (Reuters) - Hedge fund manager Mick McGuire is betting on an eventual housing recovery by owning stakes in an aerospace and defense company, a sugar farming conglomerate and a land developer.
After scams and slumps, wealth advisers try to rebuild trust
TORONTO (Reuters) - While big financial institutions lost the trust of investors with LIBOR scandals and mortgage meltdowns, financial advisers have seen the trust drain away for more personal reasons with faces attached: Bernie Madoff, Earl Jones, Allen Stanford.
Ackman:General Growth Properties sale to Simon would be best
NEW YORK (Reuters) - Hedge fund manager William Ackman, who has been pushing mall operator General Growth Properties to sell itself, on Monday said a deal with rival Simon Property Group would be beneficial to all parties and push the stock price dramatically higher.
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