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Author Archives: Bloomberg News

Survey: Economy to cool as consumers spend less

Economists trimmed their U.S. growth forecasts through the middle of next year, though not enough to show the recovery is in danger of faltering. Growth in the world’s largest economy will average 2.8 percent from the current quarter through the ...

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Fen-phen risks won’t color FDA diet pill review

U.S. regulators won't re-examine safety data from fen-phen, the recalled diet drug tied to heart damage, as they review a new generation of weight-loss pills led by Vivus Inc.'s Qnexa that use some of the same ingredients.

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Martin Scorsese sued by Kenneth I. Starr receiver

The receiver for firms once controlled by jailed money manager Kenneth I. Starr sued filmmaker Martin Scorsese and his production company for about $600,000. The complaint, filed Thursday by receiver Aurora Cassirer in New York state court in Manhattan, said ...

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Robert Miller, Dreier accomplice, granted probation

Robert L. Miller, who once worked as a lawyer with the U.S. Securities and Exchange Commission, was sentenced to two years’ probation for helping New York law firm founder Marc Dreier defraud hedge funds. U.S. District Judge Kimba Wood imposed ...

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BP, Coast Guard will save turtles from oil burns

BP and the U.S. Coast Guard have reached an agreement to end the inadvertent killing of endangered sea turtles trapped inside containment booms during controlled burns of the Gulf of Mexico oil spill, lawyers said. “We’ve agreed to meet to ...

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Biotech companies get boost after court patent ruling

Myriad Genetics Inc., Genomic Health Inc. and the rest of the burgeoning industry for personalized medicine stand to gain from Tuesday's landmark U.S. Supreme Court decision on patenting business methods.

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Scrutiny of Goldman focusing on silence over conflicts

Greg Palm, Goldman Sachs Group Inc. general counsel, took a call in his 37th-floor office at One New York Plaza on Dec. 16, 2008. It was his old boss, Stephen Friedman, a former Goldman Sachs chairman who was then head of the audit committee of its board of directors. Goldman's stock was down 65 percent from its 52-week high during an accelerating global financial breakdown. Friedman, who had become chairman of the Federal Reserve Bank of New York that year, told Palm he wanted to buy Goldman shares.

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Bad smell of lobbyists clings to financial bill

At 2,315 pages, the Dodd-Frank Conference Report of proposals to fix U.S. financial regulations isn’t the stuff of summer beach reading. It is, though, a starting point to understanding just how messed up financial regulations had become by the time ...

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Kagan’s experience, impartiality debated at hearing

Elena Kagan's nomination to the U.S. Supreme Court prompted partisan bickering over her qualifications as a Senate committee began hearings on President Barack Obama's choice to become the nation's 112th justice.

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Kagan ‘supremely qualified,’ official says

White House officials say they have no doubt Elena Kagan will leave her audience impressed when she testifies before a Senate committee next week on her nomination to the U.S. Supreme Court. Kagan, President Barack Obama’s second Supreme Court nominee, ...

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