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Friday, October 4, 2013

Reuters Money: Analysis: U.S. default seems unthinkable but investors have options

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10/4/2013

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

Analysis: U.S. default seems unthinkable but investors have options

NEW YORK (Reuters) - Investors who behave conventionally are likely to get burned if the political standoff over the federal budget and the debt ceiling ends up forcing the United States to default.

Columbia endowment up 11.5 percent, latest Ivy with strong returns

(Reuters) - Columbia University said on Thursday that its endowment posted an 11.5 percent investment return during the 2013 fiscal year, making it the latest Ivy League school to report double-digit gains as stock markets rallied.

U.S.-based stock funds post $3.1 billion outflow: Lipper

NEW YORK (Reuters) - Investors in funds based in the United States pulled $3.1 billion out of stock funds in the latest week due to the partial U.S. government shutdown and looming concerns over the debt ceiling, data from Thomson Reuters' Lipper service showed Thursday.

Stockton city council backs plan to exit bankruptcy

STOCKTON, California (Reuters) - Stockton, California's city council approved a plan on Thursday for the city to adjust its debt to exit from bankruptcy after reaching a deal with bond insurer Assured Guaranty to restructure more than $150 million of outstanding debt.

U.S. municipal bond funds report $690 million of outflows: Lipper

(Reuters) - U.S. municipal bond funds reported $690 million of net outflows in the week ended October 2, up from $159 million of outflows in the previous week, according to data released by Lipper on Thursday.

By worshipping markets, we've crippled them: James Saft

(James Saft is a Reuters columnist. The opinions expressed are his own)

U.S. consumer bureau bars payment firm over debt-settlement fees

WASHINGTON (Reuters) - The U.S. consumer watchdog said on Thursday it fined payment processor Meracord for helping to collect illegal debt-settlement fees, part of a broader crackdown on companies that offer to help borrowers get rid of debt.

U.S. investor says is one of largest holders of Greek debt

LONDON (Reuters) - Investment firm Japonica Partners, which made a surprise offer for up to 4 billion euros of Greek government bonds in June, said on Thursday it was one of the largest owners of the bonds.

U.S. jobless claims show job market healing but service sector slows

WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits remained at pre-recession levels last week but growth in the massive U.S. service sector cooled in September as firms took on fewer new workers.

Ackman's Pershing Square cuts Herbalife stock short position

BOSTON (Reuters) - Hedge fund manager William Ackman said he has restructured some of his $1 billion short bet against nutrition and supplements company Herbalife to guard against further losses but he said he still believes the company eventually will be shut down.