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Jun 6, 2013

Markets might have gone too far on taper talk – U.S. Fed’s Plosser

BOSTON (Reuters) – Investors may have overreacted recently to the possibility of the U.S. Federal Reserve winding down its asset-buying stimulus, a top U.S. central bank official said on Thursday.

U.S. bond and stock markets abruptly sold off on May 22 when Fed Chairman Ben Bernanke told a congressional committee that the central bank’s $85 billion in monthly purchases could be reduced “in the next few meetings” of the Fed’s policy committee if the economy continues to gain traction.

Jun 6, 2013

Markets might have gone too far on taper talk -Fed’s Plosser

BOSTON, June 6 (Reuters) – Investors may have overreacted
recently to the possibility of the U.S. Federal Reserve winding
down its asset-buying stimulus, a top U.S. central bank official
said on Thursday.

U.S. bond and stock markets abruptly sold off on May 22 when
Fed Chairman Ben Bernanke told a congressional committee that
the central bank’s $85 billion in monthly purchases could be
reduced “in the next few meetings” of the Fed’s policy committee
if the economy continues to gain traction.

May 30, 2013

Rhode Island officials blast town seeking to avoid pension dues

PROVIDENCE, Rhode Island, May 30 (Reuters) – Top Rhode
Island finance officials on Thursday blasted representatives of
the town of Coventry who have sought to avoid making up a $24
million shortfall in one of their pension plans.

The town’s position not to offer a way to make up the almost
70 percent shortfall in a plan for non-teacher school employees
is “unconscionable,” said Richard Licht, director of the Rhode
Island Department of Administration, at a meeting of the state’s
Pension Plans Study Commission.

May 30, 2013

Rhode Island’s Chafee says Obama inspired party switch

WARWICK, Rhode Island (Reuters) – Rhode Island Governor Lincoln Chafee credited U.S. President Barack Obama with inspiring him to join the Democratic Party, a stance that his peers said put the son of former governor more in line with voters in the state.

Chafee, who a decade ago served in the U.S. Senate as a Republican and later changed his affiliation to independent when he ran for governor, appeared at city hall in Warwick, where he lives, to fill out the one-page form to change his affiliation.

May 15, 2013

Hedge funds shop at Supervalu, sour on Apple

NEW YORK (Reuters) – Barry Rosenstein’s JANA Partners liked grocery chain Supervalu Inc in a big way in the first quarter, while Philippe Laffont’s Coatue Management lost its stomach for the company’s shares.

Regulatory filings revealed that JANA, a hedge fund with $5.5 billion in assets, picked up some 14 million shares of Supervalu in the quarter ended March 31. For Laffont’s $9.5 billion firm, however, it was a different story, as the hedge fund dumped all of its roughly 10 million shares.

May 15, 2013

Hedge funds get in and out of grocery chain Supervalu

NEW YORK, May 15 (Reuters) – Barry Rosentein’s JANA Partners
liked grocery chain Supervalu Inc in a big way in the
first quarter, while Philippe Laffont’s Coatue Management lost
its stomach for the company’s shares.

Regulatory filings on Tuesday revealed that JANA, a hedge
fund with $5.5 billion in assets, picked up some 14 million
shares of Supervalu in the quarter ended March 31. For Laffont’s
$9.5 billion firm, however, it was a different story, as the
hedge fund dumped all of its roughly 10 million shares.

May 6, 2013

Boston bombing suspect’s family struggles to find burial site

BOSTON (Reuters) – The family of suspected Boston Marathon bomber Tamerlan Tsarnaev faced a quandary Monday over where to bury his body as cemeteries across Massachusetts refused to accept it.

Tsarnaev, 26, died in a gun battle with police on April 19, four days after bombs he is believed to have set with his younger brother killed three people and injured another 264 at the marathon.

May 5, 2013

Gabrielle Giffords challenges U.S. Congress to find courage on guns

BOSTON (Reuters) – Former Arizona Congresswoman Gabrielle Giffords received the John F. Kennedy Profile in Courage Award on Sunday, asking the U.S. Congress to act more courageously on the issue of gun control.

“We all have courage inside,” Giffords, who herself survived being shot in 2011, said at the Kennedy Library in Boston. “I wish there was more courage in Congress. Sometimes it’s hard to express it.”

Apr 30, 2013

Rising markets draw back investors, boost U.S. fund firms

April 30 (Reuters) – Major U.S. money managers on Tuesday
reported higher quarterly profits that largely beat Wall Street
expectations after rising stock markets renewed investor
interest in higher-fee equity funds.

Franklin Resources, Invesco and Affiliated
Managers Group reported strong customer net inflows with
an increasing emphasis on stock funds, which typically carry
higher fees and profit margins.

Apr 22, 2013

Boston Marathon bombing suspect charged in hospital

BOSTON (Reuters) – Prosecutors charged Dzhokhar Tsarnaev for the Boston Marathon bombings in an impromptu hearing on Monday in his hospital room, accusing him of crimes that could carry the death penalty if he is convicted.

Video taken by security cameras showed the 19-year-old ethnic Chechen placing a backpack near the finish line of the race one week ago, the criminal complaint said, alleging he acted in concert with his older brother, who was killed during a shootout with police early Friday.

    • About Aaron

      "Boston-based reporter covering investment management and investing. Previously worked at Businessweek in Boston and at The Industry Standard and Reuters in Washington, D.C."
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