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Wednesday, October 30, 2013

Reuters Money: Column: Saving for college? 529s plan aren't as safe as you think

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10/30/2013
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
Column: Saving for college? 529s plan aren't as safe as you think
LOS ANGELES (Reuters) - Your 529 college savings plan may not be as safe as you think.
Activist investor Ackman remains convinced Herbalife will fail
OXFORD (Reuters) - Billionaire investor William Ackman is still convinced that U.S. nutrition company Herbalife will fail as he sits on hundreds of millions in unrealized losses, nearly one year after predicting the company's stock price would go to zero.
Bitcoin goes mainstream with ATM in Vancouver coffee shop
VANCOUVER (Reuters) - A silver and blue ATM, perched up next to the espresso bar in a trendy Vancouver coffee shop, could launch a new era for the digital currency bitcoin, offering an almost instant way to exchange the world's leading virtual money for cash.
U.S. Treasury gives more detail on offshore anti-tax evasion law
WASHINGTON (Reuters) - Foreign banks and investment funds got more detail from the Treasury Department on Tuesday about how to comply with a new U.S. anti-tax evasion law, including a draft agreement that some institutions must sign to avoid possible penalties.
U.S. House passes bill to delay fiduciary rules at SEC, Labor Dept
WASHINGTON (Reuters) - The U.S. House of Representatives passed a controversial bill on Tuesday that would delay two government regulators from adopting rules requiring stock brokers and retirement account financial advisers to put their customers' interests ahead of their own.
SAC Capital plea deal may come early next week: WSJ
NEW YORK (Reuters) - The settlement U.S. prosecutors are hammering out with SAC Capital Advisors, Steven A. Cohen's multibillion-dollar hedge fund, over criminal charges related to insider trading could be announced early next week, the Wall Street Journal reported on Tuesday.
Investors flood U.S. stock funds at fastest pace since 2000:TrimTabs
NEW YORK (Reuters) - Investors sent $45.5 billion into U.S.-based equity mutual funds and exchange-traded funds from the start of October through Friday, the fifth-highest month on record, data from research provider TrimTabs showed on Tuesday.
Nasdaq says human error behind latest trading snafu
(Reuters) - Nasdaq OMX Group said human error left the U.S. exchange unable to transmit index values for nearly 45 minutes on Tuesday, leading to a temporary halt in options trading on some stock indexes.
U.S. consumer spending gauge rises, but confidence weakens
WASHINGTON (Reuters) - A gauge of U.S. consumer spending rose in September as Americans likely snapped up Apple's new iPhone and bought leisure goods, but falling car sales pointed to sluggish economic growth.
Malaysia's Maybank launches Islamic asset management unit
LONDON (Reuters) - Malaysia's Malayan Banking Bhd, the country's largest lender, has launched an Islamic asset management unit to cater to growing investor appetite for sharia-compliant investment products.
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