Finance News – S&P, Dell, Martha Stewart, US Federal Reserve, S&P seeks to move 16 lawsuits over ratings to federal court
(Reuters) – Standard & Poor’s on Wednesday began trying to move lawsuits by 15 states and Washington, D.C. over its credit ratings to federal court from state court, hoping to limit its liability in one of the biggest fraud cases tied to the financial crisis. In multiple court filings, the McGraw-Hill Cos unit said the “wave” of civil lawsuits raises “significant” federal regulatory and constitutional issues that should be addressed all at once, to help ensure that national securities markets operate efficiently. …
Dell committee defends .4B sale as best choice
SAN FRANCISCO (AP) — The committee of Dell board members that oversaw the negotiations to sell the slumping personal computer maker for .4 billion is standing behind the deal despite the misgivings of major shareholders who believe CEO Michael Dell and other investors buying the company are getting a bargain.
Why Martha Roasted the Hand That Fed Her
Testifying in a Manhattan court on Tuesday, Stewart behaved like someone less interested in juggling two partners than in moving on to a better provider
A second Fed official says wants to pare asset purchases
LANCASTER, Pennsylvania (Reuters) – A second Federal Reserve policymaker is calling on the U.S. central bank to begin tapering the amount of bonds it is buying. Philadelphia Fed President Charles Plosser said on Wednesday the benefits of the so-called quantitative easing program, which snaps up billion in assets per month to promote investment and economic growth, are “meager” and outweighed by the potential costs of such aggressive policy easing. …