Leagues poised to challenge NJ over sports betting

NEWARK, N.J. (AP) — Four major professional sports leagues and the NCAA are poised to move forward with their legal fight over New Jersey's plans to allow sports gambling. That comes after a judge on Friday rejected arguments that the leagues couldn't prove they would be harmed if the state proceeds with the plans. In denying the state's request to dismiss the lawsuit by the NBA, NHL, NFL, Major League...

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MF Global trustee announces settlement deals key to cash payouts

(Reuters) - The trustee for the failed MF Global Inc on Saturday announced two key agreements that are expected to accelerate cash payouts to clients and creditors of the failed futures brokerage. James Giddens, trustee for the MF Global estate, said in a statement he has negotiated deals to resolve disputes with the company's former British affiliate and the parent company, MF Global Holdings Ltd. As...

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Modest discounts, fiscal cliff deter last-minute shoppers

NEW YORK/WESTBURY, New York (Reuters) - Retailers may not see a sales surge this weekend as ho-hum discounts and fears about imminent tax hikes and cuts in government spending give Americans fewer reasons to open their wallets in the last few days before Christmas. The acrimonious debate in Washington over how to avoid the so-called "fiscal cliff" is one of a number of concerns weighing on shoppers,...

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Pacts in MF Global liquidation could free up cash

Settlements between parties with completing claims in the liquidation of MF Global could speed up payment to customers of the collapsed brokerage, with one agreement potentially freeing up as much as $600 million for U.S. customers. Two separate agreements were announced on Saturday. One is between James Giddens, the bankruptcy trustee overseeing the liquidation of MF Global's main brokerage unit,...

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Japan's Abe heaps pressure on BOJ to set 2 percent inflation target

TOKYO (Reuters) - Japan's next premier, Shinzo Abe, renewed pressure on the central bank to adopt a 2 percent inflation target, saying that he will try to revise a law guaranteeing its independence if his demand is not met. He also said he will pick someone who agrees with his views on the need for bolder monetary easing to succeed BOJ Governor Masaaki Shirakawa when his term expires in April next...

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TEXT-S&P Afms Rating On Emerald Assets Ltd. - Portfolio 1 Notes

(The following was released by the rating agency)OVERVIEW-- Emerald Assets Ltd. - Portfolio 1 is a commercialmortgage backed securitization that is secured by across-collateralized portfolio of 36 industrial properties inSingapore.-- One property is being removed from the collateralportfolio and three will be added to the collateral pool, takingthe number of properties in the portfolio to 38.-- We...

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Two former fund managers guilty of insider trading

 NEW YORK (Reuters) - Two former hedge fund managers were convicted on Monday of illegal trading in Dell Inc  stock based on secret information supplied by research analysts, the latest in a string of Wall Street insider-trading convictions.A federal jury in Manhattan found Todd Newman, a former portfolio manager at Diamondback Capital Management, and Anthony Chiasson, co-founder of Level...

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Massachusetts fines Morgan Stanley over Facebook IPO

 BOSTON (Reuters) - Morgan Stanley , the lead underwriter for Facebook Inc's initial public offering, will pay a $5 million fine to Massachusetts for violating securities laws governing how investment research can be distributed.Massachusetts' top securities regulator, William Galvin, on Monday charged that a top Morgan Stanley banker had improperly coached Facebook on how to disclose sensitive...

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Stocks move higher as budget talks progress

NEW YORK (AP) — Stocks rose on Wall Street as investors were encouraged by signs of progress in budget talks in Washington. Just two weeks remain before tax increases and government spending cuts take effect if no deal is reached.On the floor of the New York Stock Exchange, stock traders paused for a minute of silence at 9:15 a.m. EST to remember the 20 children and seven adults killed Friday in a...

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Ethical investing offers opportunities for Canadian advisers

TORONTO (Reuters) - While Canadian financial advisers are struggling to lure investors, in part because of lackluster returns, those promoting "socially responsible investing" say they've got an edge on the competition as shareholder activism heats up.The din of the Occupy Wall Street movement has faded, but the controversy over pipelines, oil sands and climate change remain hot topics in Canada,...

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