Reuters Money: Hedge funds seek 1.8 billion damages from members of Porsche's owning family

	Click to View in Browser 02/3/2014 Hedge funds seek 1.8 billion damages from members of Porsche's owning family FRANKFURT (Reuters) - Investors including U.S. hedge fund Elliott Associates have escalated a legal battle against members of Porsche's supervisory board by seeking 1.8 billion euros ($2.43 billion) in damages from Wolfgang Porsche and his cousin Ferdinand Piech. Why kids are pocketing more allowance NEW YORK (Reuters) - Dan Zevin has been hearing a lot of reports lately about allowance inflation. His source: his 10-year-old son Leo. Loeb's hedge fund Third Point to lose Rhode Island as client BOSTON (Reuters) - Billionaire hedge fund investor Daniel Loeb will be losing Rhode Island as a client after the state's pension fund found his Third Point LLC too risky for its taste and decided to pull all of its money out. Emerging market stock funds worldwide post $6.4 billion outflow: BofA NEW YORK (Reuters) - Fund investors worldwide pulled $6.4 billion out of emerging market stock funds in the week ended January 29, marking their biggest outflows since August 2011, data from a Bank of America Merrill Lynch Global Research report showed on Friday. Ackman's Pershing Square trims holdings of Beam BOSTON (Reuters) - Hedge fund manager William Ackman sold 7.3 million shares in Beam Inc this week, according to a regulatory filing on Friday, trimming his holdings three weeks after the share price spiked on news of a planned takeover by Japanese whiskey maker Suntory Beverage & Food Ltd U.S. IRS chief says no delay in tax-dodger law; some have doubts WASHINGTON (Reuters) - The chief of the U.S. Internal Revenue Service said on Friday that a new law meant to fight offshore tax dodging by Americans will not be delayed again beyond its July 1 effective date, despite a clamor among banks asking for more time and guidance. Your money: New real estate rules for 2014 NEW YORK (Reuters) - When the housing bubble burst, a damage-control mentality replaced decades of conventional real estate wisdom. Detroit files lawsuit seeking to void pension debt (Reuters) - Detroit on Friday filed a lawsuit in U.S. bankruptcy court seeking to invalidate $1.44 billion of debt sold to fund public worker pensions - a move that also could void the ill-fated interest-rate swaps contracts that were a factor leading Detroit into bankruptcy. U.S. cities criticize treatment of munis in bank liquidity plan WASHINGTON (Reuters) - Leaders of U.S. cities and states criticized bank regulators' proposal to block banks from counting municipal debt toward buffers of easy-to-sell assets they will have to hold in case of a credit crunch. SEC panel advises against study to widen tick sizes for small firms WASHINGTON (Reuters) - A regulatory advisory panel on Friday urged the U.S. Securities and Exchange Commission not to launch a test program that would allow the stocks of small-cap companies to trade in wider increments, a recommendation that clashes with a proposal from a different SEC committee. Related Video Wall St suffers worst yearly start in four years Markets rebound on GDP, Facebook profits Business News Wall St. opens flat ahead of data China, France drag on global manufacturing revival 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