Reuters Money: Banks turn to tech to cut cost of new regulation

	Click to View in Browser 06/7/2013 Banks turn to tech to cut cost of new regulation GENEVA (Reuters) - Swiss private banks are hoping to gain a competitive edge by investing in the latest technology for risk management and compliance to keep down the cost of new regulations brought in since the financial crisis. Household wealth surges in first-quarter on stock, home prices WASHINGTON (Reuters) - A jump in stock and home prices pushed U.S. household wealth up by $3 trillion in the first quarter, surpassing levels last seen before the 2007-09 recession and giving a hopeful sign for future consumer spending. 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. As U.S. retools, commods, emerging markets lose: James Saft (Reuters) - The rebirth of U.S. manufacturing may be the key which unlocks the puzzle of the divergence of commodity prices from equity markets. 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. SEC moves to tighten regulations on money market funds WASHINGTON (Reuters) - A portion of the $2.6 trillion money market fund industry would be required to fundamentally change how it prices its shares under proposals issued by U.S. regulators on Wednesday to reduce the risk of abrupt withdrawals. Private banks step up efforts to court mega rich GENEVA (Reuters) - The mega rich have become the hottest property in private banking and wealth managers are pulling out all the stops to court them, offering perks ranging from lunches with sports stars to track days at the Monaco Grand Prix circuit. Florida octogenarian claims record Powerball jackpot TALLAHASSEE, Florida (Reuters) - An 84-year-old Florida woman claimed last month's record Powerball jackpot on Wednesday and opted to take a lump-sum payment of nearly $371 million, Florida Lottery officials said. SAFT ON WEALTH-The Abenomics effect deflates (Reuters) - The Abenomics attempt to revive Japan is already flagging, a development which will hurt equities worldwide. Companies add more jobs but growth disappoints NEW YORK (Reuters) - Hiring by U.S. firms was sluggish in May while a sharp rise in mortgage interest rates last week weighed on what has been a buoyant housing market, adding to signs the economy lost some momentum in the second quarter. Related Video Big dividends can mask big risks - Money Clip How to cash in on lawsuits - Investing 201 Business News Hiring points to resilience in economy Wall Street opens higher after payrolls The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. 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