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Tuesday, December 3, 2013

Reuters Money: Fake trades and a fridge used in Madoff fraud: witness

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12/3/2013
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
Fake trades and a fridge used in Madoff fraud: witness
NEW YORK (Reuters) - Bernard Madoff's longtime lieutenant testified on Monday that several former colleagues were deeply enmeshed in Madoff's decades-long Ponzi scheme, using everything from fake trades to a refrigerator to hide the truth about the fraud.
Amazon, drones and low returns: James Saft
(Reuters) - Jeff Bezos' plan to deliver Amazon.com packages by drone isn't just an idea which skirts the line between satire and reality.
Cinema chain AMC Entertainment plans to raise up to $368 million from IPO
(Reuters) - U.S. cinema chain AMC Entertainment Holdings Inc plans to raise as much as $368 million from an initial public offering of 18.4 million Class A shares.
Chamber of Commerce seeks changes to financial risk council
WASHINGTON (Reuters) - The U.S. Chamber of Commerce on Monday called for changes to the U.S. financial risk council that could slow the process by which it designates large financial firms as "systemic," subjecting them to tougher supervision.
U.S. small business borrowing rises to six-year high, index shows
(Reuters) - U.S. small businesses boosted borrowing in October to its highest level in over six years, an index showed on Tuesday, fresh evidence that the budget battle that shut the federal government for 16 days did little to derail underlying economic growth.
Ameriprise hires advisers from Morgan Stanley, PNC, UBS
NEW YORK (Reuters) - Ameriprise Financial Inc said Monday that it had hired two adviser teams and two individual advisers from Morgan Stanley, PNC Financial Services Group Inc and UBS Wealth Management Americas.
Is it too late to jump on the stock buyback bandwagon?
(The opinions expressed here are those of the author, a columnist for Reuters.)
Global economies increasingly at risk: Pimco's Gross
NEW YORK (Reuters) - Bill Gross, co-founder and co-chief investment officer of bond giant Pimco, said Tuesday that easy-money policies worldwide have put global economies increasingly at risk.
Hedge funds turn to 'long-only' investing in bid to grow
LONDON (Reuters) - Half of hedge funds now sell products traditionally the preserve of mainstream asset managers such as "long-only" strategies, a study shows, reflecting how conservative investors have come to dominate the industry's client base.
Factory activity gauge rises to two and a half year high
WASHINGTON (Reuters) - A gauge of U.S. factory activity hit a 2-1/2-year high in November and construction spending increased solidly in October, brightening the economic outlook as the year winds down.
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