Heritage Action, the angry conservative id that has swallowed the Heritage Foundation (and much of the House Republican Conference) whole, just announced that it will treat Janet Yellen’s nomination for chairman of the Federal Reserve as a “key” vote. The designation is intended to pressure Republican senators, who presumably risk being labeled soft on monetarism if they vote to elevate Yellen.
Steven Smith, the head of restructuring at UBS AG’s investment bank, has left the company and is in talks to join private-equity firm Aurora Capital Group, according to people familiar with the matter.
California Public Employees’ Retirement System, the largest U.S. pension plan, agreed to sell its anchor stake in a 2007 fund managed by the distressed- investment unit of Los Angeles-based Aurora Capital Group, according to two people familiar with the matter.
England will resume at 289-7 against Australia in their second cricket Test today after Ian Bell’s third straight Ashes century helped the home team recover from the loss of three early wickets on day one.