IBT Staff Reporter

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SEC gets more whistleblower tips

Tips from whistleblowers to the Securities and Exchange Commission have increased significantly since the Wall Street reform law was enacted last year, an agency official said on Friday.

Tommy Mottola sells Wildcat Ranch for $17.8 mln

Tommy Mottola, former chairman and CEO of Sony Music Entertainment, has sold his Wildcat Ranch property in Pitkin County for around $17.8 million, according to a news report by Wall Street Journal.

SEC receiving more whistleblower tips

Tips from whistleblowers to the Securities and Exchange Commission have increased significantly since the Wall Street reform law was enacted last year, an agency official said on Friday.

Chrysler must shed shyster bailout loans: CEO

Chrysler Group LLC is working to refinance what its chief executive characterized as shyster loans that the Obama administration extended as part of a bailout to keep the automaker from collapse in 2009.

Treasury: can't say China a forex manipulator

China's yuan currency remains substantially undervalued and should be permitted to appreciate more rapidly but there isn't enough evidence to conclude that Beijing deliberately manipulates its value, the U.S. Treasury department said on Friday.

Fed's John Williams: recovery has achieved liftoff

The pace of economic recovery has reached escape velocity from the worst recession in decades, though the nation may not return to full employment until 2014, a top Federal Reserve researcher said on Friday.

BofA creates foreclosure unit

Bank of America Corp appointed on Friday a new foreclosure and loan modifications czar, and created a new unit to oversee problem home loans in a bid to sort out its on-going foreclosure issues, becoming the first large U.S. bank to do so.

Cisco investors wary over rivalries and public debt

No longer Wall Street's top over-achiever, network equipment maker Cisco Systems Inc must persuade wary investors it can fight off rivals such as Hewlett-Packard Co and soothe concerns about public sector spending cuts.

S&P 500 posts best week in nine

The S&P 500 posted its best week in nine on Friday as the market defied calls for a pullback, and investors rotated into defensive and lagging sectors in a move that could intensify in coming weeks.

Flash crash panel mulls big market changes

Experts trying to figure out how to avoid another flash crash are considering big changes to the U.S. stock marketplace, and one is recommending special rebates during times of stress and a crackdown on off-exchange dark trading.

Fed's John Williams: recovery has achieved liftoff

The pace of economic recovery has reached escape velocity from the worst recession in decades, though the nation may not return to full employment until 2014, a top Federal Reserve researcher said on Friday.

NY Mets owners sued over Madoff's Ponzi scheme

The owners of the New York Mets were accused of reaping $300 million of fictitious profits from Bernard Madoff's record Ponzi scheme, a lawsuit by the trustee seeking money for Madoff's victims said.

Outgunned by Wall Street, SEC warns of fraud

Tighter budgets at the U.S. Securities and Exchange Commission could mean killing vital technology upgrades needed to catch swindlers, the agency's chief said on Friday in a blunt appeal for more funding.

Android Market Could Open Phone To Hackers

Researchers at Sophos, a computer security firm, have found that apps from the Android Market automatically download to a mobile device once the user chooses the app on the Web site, leaving users open to some types of attack.

NY Mets owners hit with $300 million Madoff lawsuit

The owners of the New York Mets baseball team turned a blind eye to Bernard Madoff's Ponzi scheme and should give up roughly $300 million of fictitious profits tied to the now imprisoned swindler, a lawsuit charges.

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