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Wednesday, November 28, 2012

Reuters Money: Exclusive: Calpers triggers legal fight with bankrupt San Bernardino over pension debt

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11/28/2012
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
Exclusive: Calpers triggers legal fight with bankrupt San Bernardino over pension debt
LOS ANGELES (Reuters) - America's biggest public pension moved aggressively against the bankrupt city of San Bernardino, California, on Tuesday night over the city's decision to halt payments to the fund.
SAC Capital notified of possible SEC enforcement action
NEW YORK (Reuters) - Steven A. Cohen's SAC Capital Advisors has received a Wells notice from the U.S. Securities and Exchange Commission, suggesting the regulator may bring civil charges of insider trading against the hedge fund firm, a person familiar with the matter said.
Obama pushes tax agenda, Congress in stand-off
WASHINGTON (Reuters) - President Barack Obama on Tuesday launched a public relations push for his bid to raise taxes on wealthy Americans, but U.S. lawmakers remained deadlocked over dramatic, year-end tax increases and spending cuts known as the "fiscal cliff."
SEC's Walter may take similar path to ally Schapiro
WASHINGTON (Reuters) - For the past four years, Elisse Walter stood out at the U.S. Securities and Exchange Commission for her deep loyalty to SEC Chairman Mary Schapiro.
The biggest struggle yet for Citi's repairman
(Reuters) - When Citigroup Inc's board of directors was looking for a chief executive in 2007, it called Michael O'Neill, who had turned around Bank of Hawaii Corp a few years before.
Insurers seek to cash in on unhealthy lifestyles
LONDON (Reuters) - British pension providers are asking insurers to identify people likely to die young in a bid to reduce the amount of retirement income they have to pay out.
The bricks-and-mortar albatross: James Saft
(Reuters) - To understand why the retail sector will continue to be such an investment minefield consider just two phrases: Black Friday and Cyber Monday.
U.S. price hikes on branded drugs far outpace 2012 inflation
(Reuters) - U.S. price increases on popular branded drugs in the past year have been more than six times the overall rate of inflation for consumer goods, while spending on specialty medications is up nearly 23 percent, according to data compiled by Express Scripts for its first quarterly drug trend report.
Greek debt deal turns hedge fund trade to gold
LONDON (Reuters) - For a few hedge funds, Greek debt is turning into one of the trades of the year.
Marriage and money: bridging the interracial divide
NEW YORK (Reuters) - Walk into any American conversation, and there are two volatile issues that could make it explode at any moment: Race, and money.
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