Reuters – The Securities and Exchange Commission has sued a Utah man for fraudulently misusing $139 million of investor funds on such things as a film about the Cub Scouts’ Pinewood Derby car race and development of a “sandwich in a can.”
Reuters – The Securities and Exchange Commission has sued a Utah man for fraudulently misusing $139 million of investor funds on such things as a film about the Cub Scouts’ Pinewood Derby car race and development of a “sandwich in a can.”
AP – BAD END TO A BAD QUARTER: The Dow Jones industrial average fell 96 points Wednesday. The Dow and the Standard & Poor’s 500 had their lowest closes for the year. The S&P 500 lost 11.9 percent during the second quarter, while the Dow lost 10 percent.
AFP – The US stock markets, chastened by less encouraging US economic indicators, face a key monthly jobs report next week that could prove negative for the first time in five months.
AP – BANKS OUTPERFORM: Bank stocks rallied after lawmakers agreed on a financial regulation bill. The bill was milder than investors feared, so they were reassured that financial companies’ profits won’t be devastated.
