SAC Re on review with negative implications: A.M. Best
BOSTON (Reuters) – Insurance rating group A.M. Best said on Tuesday that it is placing SAC Re, the reinsurance arm linked to hedge fund SAC Capital Advisors, on review with negative implications less than a week after the fund was hit with criminal ins…
Morgan Stanley fined for selling exotic funds to unwary investors
NEW YORK (Reuters) – Morgan Stanley has agreed to pay a $100,000 fine to New Jersey state securities regulators for selling exotic exchange-traded funds to unwary investors, state officials said on Tuesday.
Accused tipper to SAC hedge fund arrested in insider-trading probe
(Reuters) – A securities analyst accused of leaking secret information in 2009 about a potential partnership between Yahoo and Microsoft to an SAC Capital Advisors hedge fund manager and other traders was arrested and charged in California, prosecutors…
Low-cost operations of Japan’s ANA to focus on resort travel: Nikkei
(Reuters) – Japan’s ANA Holdings Inc plans to beef up its low-cost-carrier operations by focusing on resort travel to places such as Guam and Hawaii, the Nikkei said, citing company sources.
EADS board discusses reorganization, rebranding plans
PARIS (Reuters) – The board of EADS gathered on Tuesday to vote on a reorganization that will see the European aerospace group adopt the name of its main Airbus subsidiary, industry sources said.
Pfizer settles U.S. marketing case dating to Wyeth conduct
WASHINGTON (Reuters) – Pfizer Inc will pay $490.9 million to resolve accusations of illegal marketing of the drug Rapamune dating to Pfizer’s 2009 acquisition of Wyeth Pharmaceuticals Inc, the U.S. Justice Department said on Tuesday.
Home prices rise in May, though pace slows
NEW YORK (Reuters) – U.S. home prices rose in May, suggesting the housing market recovery pushed ahead during the spring buying season, though the pace of gains slowed in what analysts said could be a sign of things to come.
Thomson Reuters revenue edges up on legal, accounting strengths
(Reuters) – Thomson Reuters said on Tuesday that second-quarter revenue rose 2 percent as gains at its legal and accounting businesses helped offset weakness in the financial division, mainly in Europe.
Exclusive: Schneider nears $5 billion Invensys deal – sources
LONDON/NEW YORK (Reuters) – France’s Schneider Electric is nearing a 3.3 billion pound ($5.07 billion) deal to acquire British engineer Invensys and could announce it at its results on Wednesday, three people with direct knowledge of the matter said.
Entergy to cut jobs, mulls future of wholesale nuclear
HOUSTON (Reuters) – Power company Entergy Corp is mulling the future of its wholesale nuclear operation and plans to cut 800 jobs to save up to $250 million by 2016, Chief Executive Officer Leo Denault told investors on Tuesday.
