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Tuesday, January 22, 2013

Reuters Money: Geithner allegations beg Fed reform: James Saft

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01/22/2013
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
Geithner allegations beg Fed reform: James Saft
(Reuters) - Allegations that Timothy Geithner, then head of the New York Federal Reserve, may have told banks ahead of time about a surprise policy move in 2007 underscores the pressing case for reform to safeguard the integrity and independence of the central bank.
New money flows into emerging markets on the way: IIF
LONDON/ZURICH (Reuters) - Private investors are set to pour more money into emerging market countries this year as their economies grow strongly and interest rates in developed markets remain low, a global banking group said on Tuesday.
Private banking's new play: schmoozing with a dynasty
ZURICH (Reuters) - How do you impress someone who can afford almost anything?
UBS appoints private banker as investment bank operating chief
ZURICH (Reuters) - UBS named private banker Andre Cronje operating head of its investment bank, which is shutting vast swaths of its fixed income division.
Monte Paschi loses $293 million on derivative trade: source
MILAN/ROME (Reuters) - Banca Monte dei Paschi di Siena, Italy's third biggest lender, will book a loss of at least 220 million euros ($293 million) from a three-year-old derivative deal in its 2012 results, a source close to the matter said on Tuesday.
Traveling for healthcare, but not that far
NEW YORK (Reuters) - For Jim Kucera, the pain was just getting worse. The salesman from New Hope, Minnesota, needed a hip replacement urgently, but the cost of treatment would also be painful: Lacking health insurance, he would have to pay out of pocket.
Agencies approve new mortgage appraisal requirements
WASHINGTON (Reuters) - U.S. mortgage lenders making higher-priced loans to consumers must have properties appraised and provide borrowers a free copy of the report, under new rules released by six financial regulatory agencies on Friday.
Getting your health plan to cover pricey drugs
NEW YORK (Reuters) - When Marie D'Orsaneo's rheumatoid arthritis worsened three years ago, her doctor prescribed Rituxan, an expensive injectable drug that her employer-sponsored health plan had to sign off on first.
Citigroup's Robert-Tissot to take top Takeover Panel role
LONDON (Reuters) - Philip Robert-Tissot, chairman of Europe, Middle East and Africa Mergers and Acquisitions at Citigroup, is to be the next director general of the UK Takeover Panel, the regulator said on Tuesday.
Oppenheimer to pay $1.2 million in excessive trading: panel
(Reuters) - Oppenheimer & Co Inc must pay a total of nearly $1.2 million to a Texas-based investor in a dispute over allegations of excessive securities trading in his account, an arbitration panel has ruled.
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