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30Aug/130

Microsoft offers ValueAct president seat on board

SEATTLE - Microsoft Corp on Friday offered a seat on its board to the president of ValueAct Capital Management, the activist fund manager that pressed for the ouster of Microsoft Chief Executive Steve Ballmer and wanted a say on the software giant's strategy after taking a $2 billion stake earlier this year.

reuters.com

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30Aug/130

U.S. authorities widen hiring probe beyond JPMorgan: WSJ

- U.S. authorities are seeking information from several banks and hedge funds on their hiring practices, focusing on the hiring of relatives of well-connected foreign officials with the intent of winning business, the Wall Street Journal reported, citing people with knowledge of the situation.

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29Aug/130

U.S. futures industry regulator NFA comes under fire from within

CHICAGO - A U.S. futures industry regulator is falling short in its attempt to keep tabs on brokers and asset managers, more than a year after the collapse of one brokerage under its oversight that cost clients hundreds of millions of dollars, according to one of the regulator's directors.

reuters.com

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29Aug/130

JPMorgan’s internal bribery investigation reviewing 200 Asia hires

NEW YORK - An internal investigation into JPMorgan Chase & Co's hiring practices in Asia is examining the employment of around 200 people for instances of possibly illegal nepotism, a source said, indicating the bank's hiring issues may extend beyond the two cases U.S. officials originally asked about.

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28Aug/130

Ex-HealthSouth CEO Scrushy loses bid to end SEC ban

- A federal judge rejected former HealthSouth Corp Chief Executive Richard Scrushy's bid to lift a ban on his serving as an officer or director of a public company, which was part of his settlement of U.S. Securities and Exchange Commission charges that he masterminded a $2.6 billion accounting fraud.

reuters.com

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27Aug/130

Who wants to be a millionaire? Likely next Fed chair already is

WASHINGTON - Lawrence Summers may be a poster-child for the lucrative revolving door between Wall Street and Washington. But Federal Reserve Vice Chair Janet Yellen, his chief opponent in the tight race to replace Ben Bernanke at the helm of the U.S. central bank, is not exactly struggling financially.

reuters.com

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27Aug/130

SEC bars Colorado portfolio manager for duping compliance officer

- The portfolio manager of a Colorado investment advisory firm has been barred from the securities industry for forging documents and misleading his firm's chief compliance officer to conceal his failure to report hundreds of personal trades, the U.S. Securities and Exchange Commission said on Tuesday.

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27Aug/130

Indian rupee hits record low as confidence in government falters

MUMBAI/NEW DELHI - India's rupee hit a record low and posted its biggest percentage fall in 18 years on Tuesday as parliament's approval of a $20 billion plan to provide cheap grain to the poor renewed doubts about government resolve to control spending ahead of elections due next year.

reuters.com

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27Aug/130

Exclusive: Nasdaq, NYSE at odds on outage cause as SEC seeks facts

NEW YORK - U.S. regulators have asked Nasdaq OMX Group and NYSE Euronext to come up with a timeline of Thursday's three-hour trading disruption, but the rival exchange operators have been unable to agree on the details, according to several sources familiar with the situation on Monday.

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26Aug/130

JPMorgan liable to billionaire Blavatnik over mortgage losses

NEW YORK - A New York state judge found JPMorgan Chase & Co liable to Russian-American billionaire Leonard Blavatnik for breach of contract for stuffing an investment account he held with risky subprime mortgage securities, and ordered the bank to pay more than $50 million of damages including interest.

reuters.com

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