Stamford News
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Updated 45 minutes ago
Four senior executives at Steven Cohen’s SAC Capital Advisors LP received subpoenas as part of the U.S. multiyear probe into insider trading at the hedge fund firm, a person with knowledge of the matter said.
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The Dollar Index declined for the first time in three days as a survey of the Federal Reserve’s primary dealers said confusion about the central bank’s intentions for its bond-buying program may be hurting the effort’s effectiveness.
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Fewer Americans applied for unemployment benefits last week, and consumer confidence approached a five-year high as the biggest part of the economy benefits from improving job and housing markets.
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West Texas Intermediate oil fell for a third day as Chinese manufacturing contracted and speculation mounted that the Federal Reserve will cut bond purchases.
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Updated 3 hours, 20 minutes ago
Sales of new U.S. homes climbed in April to the second-highest level in almost five years as lower borrowing costs and job gains drew more buyers into the market.
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Ultra-low-sulfur diesel fell as a slowdown in China’s manufacturing sent oil tumbling and raised concern that global demand for distillates will decline.
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Updated 36 minutes ago
Reports of the death of suburbia have been exaggerated.
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West Texas Intermediate oil fell the most in three weeks as a government report showed U.S. gasoline supplies unexpectedly gained and crude stockpiles declined less than expected.
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Spain’s Sareb, set up last year to acquire 90 billion euros ($116 billion) of soured real estate assets at a discount from rescued lenders, is preparing its first sale, known as ‘Project Bull,’ to test the beleaguered property market’s ability to attract investors.
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A commercial-mortgage bond rally that pushed values up as much as 25 percent this year is stalling as planned sales from Fannie Mae threaten to overwhelm investors.
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