MARKETS / FINANCE

SAC trades reviewed, regulators may face tough road

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A laundry list of referrals about trading at SAC Capital have shed new light on the firm's opportunistic bets but also illustrate why regulators are having a tough time making allegations of insider trading stick against one of the world's biggest hedge funds.
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SEC considers easing large hedge fund data rule

Securities regulators are negotiating to raise the threshold that would trigger extensive reporting requirements for advisers to large hedge funds and other private funds, according to people familiar with the deliberations.
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UBS fined in U.S. over improper short sales

In the largest penalty of its type, Swiss bank UBS AG was fined $12 million by a U.S. brokerage regulator over its systemic failure to properly handle millions of short-sale orders.
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Newmont Mining Faces Opposition to Peruvian Mine

Townspeople in northern Peru are demanding an end to construction of the $4.8 billion Minas Conga gold mine because they fear it will threaten local water supplies, residents said on Tuesday.
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Exclusive: Morgan Stanley makes changes to broker pay

Morgan Stanley Smith Barney is revamping its financial adviser pay structure to help raise its profit margin to 20 percent by encouraging brokers to bring in new business and sell more loans, industry sources said.
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UBS brokerage gains on rivals in tough quarter

UBS Wealth Management Americas said on Tuesday third-quarter earnings rose slightly in U.S. dollars, as the smallest of the four major Wall Street brokerages bested rivals on several fronts during the toughest markets since the financial crisis.
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Former Wachovia employees have nine lives

Don Truslow heads a trade group for chief risk officers, but he used to oversee risk taking at Wachovia, a bank that nearly collapsed under the weight of its bad assets in 2008.
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Consumer confidence tumbles, home prices stagnate

Consumer confidence unexpectedly dropped to its lowest level in two-and-a-half years in October, while house prices were unchanged at low levels in August, suggesting the consumer is still struggling.
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Wall St. down on Europe debt concerns, profits

Stocks fell on Tuesday after discouraging corporate outlooks cast a pall over the economy's outlook, while fresh doubts arose about European efforts to find a solution to the debt crisis.

IMF Suggests Ghana Raise Taxes on Miners

The International Monetary Fund told officials of Ghana, Africa's second-largest gold producer, that they should consider hiking taxes on the mining sector to boost revenue.
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UPS sees higher profits in slow-growing economy

United Parcel Service reported a higher quarterly profit as increased pricing, cost cutting and technology improvements helped compensate for domestic shipping volume dulled by a sluggish economy, and it affirmed its outlook for record 2011 results.
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Gold Prices Shoot Higher as Brussels Meeting Nears

Gold and silver prices rose more than two percent Tuesday on rising fear that European leaders will be unable to produce a viable rescue plan for the continent's banks, or its staggering southern periphery.
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Eurasian Development Bank to Lend $100M to Gold Miner

The Eurasian Development Bank, a state-run joint venture between six former Soviet republics, has agreed to lend about $100 million to a Kazakh gold miner to help boost output of the precious metal in the Central Asian country.
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UBS salvages Q3 profit with one-off gain

Swiss bank UBS AG overcame a 1.8 billion Swiss franc ($2 billion) rogue trading loss to post a smaller than forecast fall in third quarter net profit on Tuesday as its core wealth management business performed well.

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