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For SEC, making Wall Street admit guilt easier said than done

WASHINGTON: Three years ago, the new chief of the main US financial markets regulator warned Wall Street the kid gloves were coming off. Fabled former federal prosecutor Mary Jo White, who took charge of the Securities and Exchange Commission in 2013, said the worst offenders would have to confess to wrongdoing in order to reach settlements with her agency. For four decades, banks, investment funds, major corporations and financiers who cheated investors, paid bribes or destabilized markets through illegal practices knew they could resolve matters with the SEC while almost never having to admit wrongdoing.

Trump deepens Goldman ties as he builds out economic team

In this Nov. 29, 2016 photo, Goldman Sachs COO Gary Cohn talks on his phone as he waits for the start of a meeting with President-elect Donald Trump at Trump Tower in New York. Trump is expected to pick Cohn to lead the White House National Economic Council, according to two people informed of the decision. (AP Photo/Evan Vucci)WASHINGTON (AP) — In the heat of the presidential campaign, Donald Trump accused primary rival Ted Cruz of being controlled by Goldman Sachs because his wife, Heidi, previously worked for the Wall Street giant. He slammed Hillary Clinton for receiving speaking fees from the bank.


Bursa Malaysia likely to trend higher next week

KUALA LUMPUR: Bursa Malaysia is likely to trend higher next week on the back of better sentiment brought by the strong performance of Wall Street, which had a spillover effect on its Asian counterparts.Affin Hwang Investment Bank Vice President/Head of Retail Research, Datuk Dr Nazri Khan Adam Khan, said other than the US reaching record highs, the European Central Bank is also set to liquidate the market with a quantative easing bond buying programme for 2017. ...

Wall St Weekahead: Hawkish Fed a potential speed bump for stock bulls

Traders work on the floor of the NYSEBy Caroline Valetkevitch NEW YORK (Reuters) - Next week's Federal Reserve meeting and possible signals on the pace of rate hikes for next year could pose the biggest risk yet to the rally the U.S. stock market has seen since last month's presidential election. While investors have long anticipated the Fed will raise rates at the Dec. 13-14 meeting - in what would be its first such move in a year and second in nearly a decade - the worry for some stock investors is that the Fed takes a more aggressive stance on inflation and future hikes. Stocks have set a string of record highs since the Nov. 8 election on hopes of a pickup in U.S. economic growth, thanks to President-elect Donald Trump's promises of increased infrastructure spending, lower taxes and easier regulations.


Hawkish Fed a potential speed bump for stock bulls

Traders work on the floor of the NYSENext week's Federal Reserve meeting and possible signals on the pace of rate hikes for next year could pose the biggest risk yet to the rally the U.S. stock market has seen since last month's presidential election. While investors have long anticipated the Fed will raise rates at the Dec. 13-14 meeting - in what would be its first such move in a year and second in nearly a decade - the worry for some stock investors is that the Fed takes a more aggressive stance on inflation and future hikes. Stocks have set a string of record highs since the Nov. 8 election on hopes of a pickup in U.S. economic growth, thanks to President-elect Donald Trump's promises of increased infrastructure spending, lower taxes and easier regulations.


Fresh records for US stocks; European shares mostly up

All three Wall Street stocks surged to fresh records December 9, 2016, reaching new highs for the second straight sessionNew York (AFP) - Wall Street stocks surged to fresh records yet again Friday, with all three major indices jumping to new highs for the second straight session.


Trump to name Goldman executive Cohn to key economic post

Gary Cohn, Goldman Sachs Group Inc president and chief operating officer, arrives for a meeting at Trump Tower to speak with U.S. President-elect Donald Trump in New YorkBy Steve Holland BATON ROUGE, La. (Reuters) - U.S. President-elect Donald Trump will likely ask a senior Goldman Sachs banker to coordinate economic policy across his administration, turning again to Wall Street for expertise in managing the world's largest economy, a transition official said on Friday. Trump's pick of Goldman President Gary Cohn, 56, to head the White House National Economic Council comes despite Trump's past criticism of the financial sector's power. Trump hammered Goldman and its Chief Executive Officer Lloyd Blankfein during the presidential campaign, releasing a television ad that called Blankfein part of a "global power structure" that had robbed America's working class.


Wall Street rises with Treasury yields, euro slides

People walk past an electronic board showing Japan's Nikkei average outside a brokerage in TokyoBy Sinead Carew NEW YORK (Reuters) - U.S. stocks closed higher on Friday as more investors piled in on the presidential election rally while the euro continued to weaken after the European Central Bank’s decision a day earlier to extend economic stimulus. The S&P 500 stock index had its best week in four and its biggest gainers on Friday were the consumer staples and healthcare sectors, which have been two of the weakest in the rally following Donald Trump's election as U.S. President. "Today we're seeing money going into some of the lesser loved sectors since the election, which is telling me the rally is broadening which is a very positive sign," Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.


Record-setting rally pushes on as S&P ends week up 3 percent

Traders work on the floor of the NYSEMajor U.S. stock indexes powered to another day of fresh record highs on Friday, with the S&P 500 ending the week up 3 percent, as investors bid up shares in sectors that have lagged in the month-long rally since Donald Trump's presidential election. The benchmark S&P 500 registered a record high for the third straight session, while the Dow and Nasdaq also hit new highs. The Dow recorded a fifth straight week of gains.


Trump expected to name a top Goldman exec to economic post

WASHINGTON (AP) — President-elect Donald Trump is expected to name Gary Cohn, the No. 2 executive at the powerhouse Wall Street firm Goldman Sachs, to a prominent White House economic post.

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Republican John Kennedy wins Louisiana Senate race in runoff
Sun, 11 Dec 2016 03:29:27 +0000

Louisiana runoff (Getty Images)State Treasurer John Kennedy fills the nation's last Senate seat and gives the GOP a 52-48 edge in the chamber.


Deadly blasts near Turkish soccer stadium
Sun, 11 Dec 2016 02:56:02 +0000

Twin blasts near Istanbul soccer stadium kill 29 , wound 166A suspected car bomb explodes shortly after a soccer match between two of the country's top teams.


Schwarzenegger talks about Trump
Sun, 11 Dec 2016 00:56:44 +0000

Arnold Schwarzenegger (Getty Images)The new 'Celebrity Apprentice' host is unfazed that the president-elect has retained a producer's stake in the show.


Market Extra: Stock market’s velocity after Trump has Wall Street talking Dow 20,000—and beyond
Sun, 11 Dec 2016 00:24:55 +0000

Do I hear 20,000? 21,000? That’st the question investors are posing after Donald Trump’s postelection ebullience has stretched equity markets deeper into the record books since Nov. 8.

Rex Tillerson, Exxon Mobil CEO, is Trump’s pick for secretary of state, reports say
Sun, 11 Dec 2016 00:02:51 +0000

Rex Tillerson, the CEO of Exxon Mobil, is the expected choice of Donald Trump for the pivotal secretary of state post in the new administration, the New York Times and several other media sources report Saturday.

Trump close to naming Exxon CEO to State post
Sun, 11 Dec 2016 00:02:22 +0000

FILE - In this Friday, March 27, 2015 file photo, ExxonMobil CEO Rex Tillerson delivers remarks on the release of a report by the National Petroleum Council on oil drilling in the Arctic, in Washington. On Saturday, Dec. 10, 2016, President-elect Donald Trump moved closer to nominating Tillerson as his secretary of state, meeting privately with the business leader for the second time in a week. (AP Photo/Evan Vucci, File)The president-elect has privately signaled that he wants to pick Exxon Mobil CEO Rex Tillerson as his secretary of state.


Outside the Box: A chief fundraiser’s steps for turning your children into philanthropists
Sun, 11 Dec 2016 00:00:22 +0000

How to create the next generation of philanthropists: Let them pick a cause to support and other tips from a chief fundraiser.

Deadly blast near Turkish stadium
Sat, 10 Dec 2016 23:59:37 +0000

Deadly blast near Turkish soccer stadium. (Reuters)A suspected car bomb explodes shortly after a soccer match between two of the country's top teams.


Recounts bring Jill Stein new publicity
Sat, 10 Dec 2016 23:49:43 +0000

Recounts bring Jill Stein new publicity. (AP)The Green Party leader is in the spotlight now more than ever after pushing for voter recounts in three states.


Alabama execution called a 'disaster'
Sat, 10 Dec 2016 23:19:45 +0000

Ronald Bert Smith Jr., who was executed on Dec. 8 using a drug previously used in problematic lethal injections. (Alabama Department of Corrections via AP)Ronald Bert Smith Jr. was "not anesthetized at any point during the agonizingly long procedure," his legal team says.


Blast near Turkish stadium wounds about 20
Sat, 10 Dec 2016 23:15:04 +0000

Police arrive at the site of an explosion in central IstanbulA suspected car bomb explodes shortly after a soccer match between two of the country's top teams.


Amy Hoak's Home Economics: Looking to buy a home? Start with these websites and apps
Sat, 10 Dec 2016 22:02:21 +0000

There is no shortage of online resources and apps to help prospective buyers think critically about how much mortgage they’d truly be comfortable with — regardless of what the bank may be willing to lend.

6 things not to buy at an outlet store
Sat, 10 Dec 2016 22:02:06 +0000

Not everything for sale at an outlet is a good deal.

7 toys you remember from childhood that may be under the tree this year
Sat, 10 Dec 2016 22:01:36 +0000

Another holiday season, another crop of toys that speak just as much — or perhaps even more — to the parents of the children who will unwrap them Christmas morning.

How to save money on holiday cards this year: Go digital
Sat, 10 Dec 2016 22:01:16 +0000

Bing Crosby dreamed of a white Christmas with every Christmas card he wrote. These days, we’re sending emails, e-cards, Facebook posts and even text messages.

NewsWatch: Big Oil is in decline, and the OPEC deal can’t rescue it
Sat, 10 Dec 2016 22:00:09 +0000

Investors should be wary of thinking a recovery in oil prices is a sign that majors like Chevron and Exxon are back, says Jeff Reeves.

Amy Hoak's Home Economics: Chicago Bungalow? Baltimore Row House? L.A. Ranch? The ‘typical’ home varies by city
Sat, 10 Dec 2016 21:59:11 +0000

Your idea of the typical house depends largely on where you live, or possibly where you grew up.

Amy Hoak's Home Economics: The top 10 destinations for retirees moving across America
Sat, 10 Dec 2016 21:58:24 +0000

Perhaps the best way to find out which states are winners for retirees: Forget surveys and expert opinions, and find out where the most retirees are actually moving.

The KKK doesn't like term 'white supremacist'
Sat, 10 Dec 2016 21:27:45 +0000

KKK doesn't like term "white supremacist." (AP)"We believe in our race. ... We are white separatists," members of the Klan said in an interview with the Associated Press.


Trump team counters CIA report on Russia
Sat, 10 Dec 2016 20:19:56 +0000

FILE - In this Dec. 9, 2016 file photo, President-elect Donald Trump speaks in Grand Rapids, Mich. Trump's presidential transition team on Saturday, Dec. 10, 2016, challenged the veracity of U.S. intelligence assessments that Russia was trying to tip the November election to the Republican. A top Senate Democrat demanded a full congressional investigation. (AP Photo/Andrew Harnik, File)The agency said Russian hackers compromised the Democrats' emails and used Wikileaks to disseminate them.


New phase of attack on ISIS stronghold begins
Sat, 10 Dec 2016 19:50:40 +0000

The Islamic State group took control of the Syrian city of Raqa after pushing out government troops in 2013The U.S. is sending 200 more troops to fight alongside those of the Arab-Kurdish alliance.


Petraeus sees 'downside' of Iran nuclear pact
Sat, 10 Dec 2016 15:50:08 +0000

David Petraeus (AFP)Retired U.S. Gen. David Petraeus, seen as a contender to be secretary of state, says the deal is "of great concern."


Fire ravages 'wedding capital of the South'
Sat, 10 Dec 2016 15:42:50 +0000

The remains of Cupid's Chapel of Love. (AP)The Gatlinburg, Tenn., wildfires leveled the Chapel of Love and killed a reverend who launched the town's wedding industry.


NYPD cops want meeting with Trump after hate crime
Sat, 10 Dec 2016 15:16:18 +0000

Muslim NYPD officers request meeting with Trump after spike in hate crimesThe request comes following a spike of hate crimes reported in New York City and across the country.


Health care industry: What's after Obamacare?
Sat, 10 Dec 2016 07:38:01 +0000

The HealthCare.gov 2017 homepage. (Pablo Martinez Monsivais/AP)Hospitals and insurers want to know soon how GOP leaders plan to address the consequences of repealing the health law.


Senate narrowly averts government shutdown
Sat, 10 Dec 2016 06:32:16 +0000

File general view of the U.S. Capitol dome in the pre-dawn darkness in WashingtonThe stopgap spending bill passes by a 63-36 vote shortly before a midnight deadline.


Senate likely averts government shutdown
Sat, 10 Dec 2016 05:21:09 +0000

The United States Capitol in Washington, D.C. at night. (Getty Images)Democrats drop their objections to the spending bill after taking the debate right to the brink before a midnight deadline.


Trump closes companies tied to Saudi Arabia
Sat, 10 Dec 2016 01:30:50 +0000

Post-election, Trump closes companies tied to Saudi Arabia. (Amr Nabil/AP)The president-elect shut down firms that appeared connected to a possible venture there, corporate documents show.


Roof laughs during shooting confession
Sat, 10 Dec 2016 01:25:49 +0000

FILE - In this June18, 2016 file photo, Dylann Storm Roof is escorted from the Sheby Police Department in Shelby, N.C. The trial for Roof, a white man accused of killing nine black people at the church, started Wednesday, Dec. 7, 2016, at the federal courthouse in Charleston, S.C. (AP Photo/Chuck Burton, File)Dylann Roof's videotaped interview following the attack on a historic black church was shown Friday during his death penalty trial.


School to build first on-campus firing range
Fri, 09 Dec 2016 23:12:35 +0000

The National Armory gun store and gun range in Pompano Beach, Fla. (Lynne Sladky/AP)Liberty University is seeking a permit to build a full-scale, National Rifle Association-approved facility.


Trump's worrisome attacks on private citizens
Fri, 09 Dec 2016 22:27:13 +0000

Donald Trump speaks to supporters on Kiawah Island, S.C. (Matt Rourke/AP)A longtime union chief and a 19-year-old woman got menacing phone calls after the president-elect went after them on Twitter.


GOP pursues massive cuts to Social Security
Fri, 09 Dec 2016 22:22:00 +0000

GOP pursuing massive cuts to Social Security. (William Thomas Cain/Getty Images)A Republican from Texas introduces a bill that would slash benefits and raise the retirement age.


Non-white reporter meets white nationalist
Fri, 09 Dec 2016 21:45:04 +0000

What It's Like as an Asian-American journalist to interview a white nationalist. (ABC News)An Asian American journalist describes meeting Richard Spencer and hearing his vision of the future.


Trump crowd boos when he praises Obama
Fri, 09 Dec 2016 21:43:58 +0000

Donald Trump (Getty Images)The president-elect's praise for Barack Obama is greeted with boos and awkward silence at a rally in Louisiana.


Giuliani withdraws from Cabinet consideration
Fri, 09 Dec 2016 21:35:36 +0000

Rudy Giuliani and Donald Trump (Jabin Botsford/The Washington Post/Getty Images)The former mayor withdrew his name from consideration as secretary of state or any other White House role.


The many generals of Trump's cabinet
Fri, 09 Dec 2016 17:50:38 +0000

The many generals of Trump's Cabinet. (Photo illustration: Yahoo News; photos: Carolyn Kaster/AP, Drew Angerer/Getty Images, Carolyn Kaster/AP )The president-elect appointed two retired Marine officers and an Army officer to key positions in his administration.


Obama calls for election hacking review
Fri, 09 Dec 2016 17:10:14 +0000

President Barack Obama speaks at MacDill Air Force Base in Tampa, Tuesday, Dec. 6, 2016. (Monica Herndon/Tampa Bay Times via AP, Pool)U.S. officials have said they're "confident" that election-related cyber attacks were directed by the Russian government.


Potential Trump pick on sharing 'fake news'
Fri, 09 Dec 2016 16:00:07 +0000

Texas Agricultural Commissioner Sid Miller (Time)"If it’s thought-provoking, I’ll put it up there and let the readers decide," said Texas Agriculture Commissioner Sid Miller.


Consumer confidence at a high after Trump win
Fri, 09 Dec 2016 15:27:58 +0000

Trump's victory has consumer confidence near a 12-year high. (Alan Diaz/AP)It surges on the initial reaction to the president-elect's surprise win and relief the election is over, experts say.


Transportation Dept. considers in-flight calls
Fri, 09 Dec 2016 02:44:00 +0000

Transportation Department considers in-flight calls. (Getty Images)Here's a potential new reality on planes: Listening to another passenger chatting on a mobile phone.


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