The SEC said those claims were false, as the algorithm behind the AlphaSector product did not even exist during that seven-year period. The data instead came from applying the algorithm to historical market data, resulting in a hypothetical performance, the SEC said. The SEC separately sued Present in Boston federal court, saying he made false and misleading...» Read More
WASHINGTON, Aug 27- Conservatives in the U.S. Congress who object to President Barack Obama's immigration policies are threatening to tie a must-pass budget bill to the issue, making for a possible showdown in September and raising the specter of a government shutdown. One year ago, Congress faced a similar task.
RIO DE JANEIRO, Aug 27- Investors are warming up to a possible victory by Marina Silva in Brazil's presidential election as the popular environmentalist emerges as their best shot at avoiding four more years of a government they strongly dislike.
US 30- YEAR TREASURIES BONDS EXTEND PRICE GAINS TO A FULL POINT, YIELDS FALL TO 3.11 PERCENT.
BUENOS AIRES, Aug 27- Argentina's government on Wednesday ruled out further piecemeal debt talks with a small group of U.S. hedge funds and said the country needed to strike a deal with all bondholders which have rejected past restructuring agreements as a single group.
WASHINGTON, Aug 27- The Federal Reserve said on Wednesday it will hold an open meeting to discuss a final rulemaking to implement bank related regulations pertaining to liquidity ratios and margin requirements for non-cleared swaps.
BOSTON/ WASHINGTON, Aug 27- Time Warner Cable Inc, the No. 2 U.S. cable operator, suffered a massive network outage on Wednesday due to suspected human error that cut Internet services to some 11 million businesses and residences, prompting a New York state investigation.
Aug 27- LendingClub Corp, the world's largest online marketplace connecting borrowers and investors directly, filed with U.S. regulators for an initial public offering of common stock. LendingClub's investors include Norwest Venture Partners, Foundation Capital LP, Morgenthaler Venture Partners and Canaan LP.
FRANKFURT, Aug 27- U.S. car service Uber is planning an aggressive expansion in Germany despite a backlash from cities such as Berlin and Hamburg, which have questioned its right to operate in highly regulated markets dominated by traditional taxis. Currently, Uber operates in Berlin, Hamburg, Munich, Frankfurt and Duesseldorf.
NEW YORK, Aug 27- U.S. stocks were little changed on Wednesday, holding near record highs on a day of light volume, though a number of retail stocks traded heavily after reporting results. Both Tiffany& Co and apparel retailer Express Inc rose after posting quarterly revenue that topped expectations and raising their full-year profit views.
NEW YORK/ LONDON, Aug 27- Arabica coffee futures on ICE briefly rose above $2 a lb on Wednesday, extending the prior session's rally on concerns about output in top grower Brazil, while cocoa fell after vaulting to the highest since May 2011 in a one-minute rally.
Aug 27- The first interdealer trading platform aimed at opening up credit derivatives markets to new competition has hit roadblocks due to resistance from some banks that dominate such trading, according to several people familiar with the situation.
NEW YORK, Aug 27- A federal judge on Wednesday ordered PricewaterhouseCoopers to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the October 2011 bankruptcy of MF Global Holdings Ltd, a brokerage run by former New Jersey Governor Jon Corzine.
SAN FRANCISCO, Aug 27- Nutanix, which builds data infrastructures for companies, said on Wednesday it raised $140 million in another funding round, which valued the company at $2 billion. A spokeswoman for Wellington declined to comment.
Paramount has over 16.5 million square feet of prime office space and several buildings in major cities, including San Francisco's landmark One Market Plaza building, Washington DC's Liberty Place and Paramount Plaza on Broadway.
Michael Peck's call to close the Diablo Canyon Power Plant in San Luis Obispo County was in a report he made to the Nuclear Regulatory Commission in 2013, the AP reported on Monday, a day after a strong earthquake shook California's Napa Valley region.
Aug 27- Detroit's sale on Tuesday of nearly $1.8 billion of water and sewer bonds attracted about $7.6 billion in orders and will save the bankrupt city nearly $250 million, city officials said on Wednesday.
Aug 27- LendingClub Corp, the world's largest online marketplace connecting borrowers and investors, filed with U.S. regulators for an initial public offering of common stock.
BRASILIA, Aug 27- Environmentalist Marina Silva would handily beat President Dilma Rousseff if Brazil's October election goes to a runoff, a poll showed on Wednesday, an outcome that seemed unimaginable just a few weeks ago and one that would put an end to 12 years of Workers' Party rule.
DETROIT, Aug 27- General Motors Co will shift production of its Cadillac SRX crossover vehicle from Mexico to its plant in Spring Hill, Tennessee, where the company once built vehicles for its defunct Saturn brand, the company and the United Auto Workers union said on Wednesday.