A cruel, cruel summer for U.S. credit funds
NEW YORK (Reuters) – It’s shaping up to be a brutal summer for bond investors as the bloodbath in the U.S. credit market shows no signs of letting up, even as nearly $80 billion has already been wiped from funds.
Detroit sues bond insurer over potential creditor deal: WSJ
(Reuters) – The city of Detroit has filed a lawsuit against bond insurer Syncora Guarantee Inc, claiming the company is blocking an agreement the city hopes to conclude with major creditors, the Wall Street Journal reported on Friday.
Grupo Rede Energia creditors OK Energisa bid, court to decide
SAO PAULO (Reuters) – Creditors of Brazil’s Grupo Rede Energia SA , a power distributor seeking to exit bankruptcy protection, approved on Friday a takeover plan by rival Energisa SA that would reduce losses on their investments in the company.
Wall St. gains as jobs data signals stronger economy
NEW YORK (Reuters) – Stocks rose sharply on Friday after robust jobs data pointed to economic growth and investors overcame concerns that the Federal Reserve may begin scaling back its stimulus efforts as soon as September.
Brightening jobs picture may draw Fed closer to tapering
WASHINGTON (Reuters) – Job growth was stronger than expected in June and the payroll gains for the prior two months were revised higher, cementing expectations for the Federal Reserve to start winding down its massive stimulus program as early as Septe…
Morningstar says clients’ credit card data may have been leaked
(Reuters) – Investment research firm Morningstar Inc said personal information, including credit card details, of about 2,300 users of its Morningstar Document Research service may have been compromised due to a security breach last year.
FCC gives official nod to deals by SoftBank, Sprint, Clearwire
WASHINGTON (Reuters) – The Federal Communications Commission on Friday announced its official approval of two related deals by Sprint Nextel Corp, SoftBank Corp and Clearwire Corp.
Ally’s ResCap unit files bankruptcy plan
(Reuters) – Residential Capital LLC, the mortgage lending unit of U.S. government-owned Ally Financial Inc , has filed a bankruptcy reorganization plan that calls for unsecured creditors to recover 36.3 cents on the dollar.
Poll: Majority of U.S. primary dealers see Fed slowing bond buying in Sept
NEW YORK (Reuters) – The Federal Reserve is likely to begin shrinking the size of its debt purchase program, intended to prop up economic growth and support the labor market, by September of this year, according to the majority of economists at large W…
Oil jumps $2 on Egypt, U.S. data, biggest weekly gain in a year
NEW YORK (Reuters) – Oil prices jumped nearly $2 a barrel on Friday to notch their biggest weekly gain in a year, boosted by concerns over rising tensions in Egypt and better-than-expected U.S. economic data.
