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Wal-Mart probed by SEC, DOJ, Mexican agencies

scgadmin — Fri, 18 May 2012 06:54:31 +0000

NEW YORK (MarketWatch) — Wal-Mart Stores Inc. , undergoing an internal investigation into whether it allegedly violated the U.S. Foreign Corrupt Practices Act in its Mexican market and whether prior allegations were mishandled by the company, said in a regulatory filing on Thursday that both Department of Justice and the Securities and Exchange Commission are investigating the matter respectively. Wal-Mart said it’s cooperating with both regulators on the matter. It also said a number of federal and local government agencies in Mexico have also recently initiated investigations on these matters. The company said several lawsuits related to the matter under investigation also have recently been filed by several of its shareholders against the company, some of its current and former directors and executives. While it doesn’t believe that these matters will have a material adverse effect on its business, “given the inherent uncertainties in such situations,” Wal-Mart said it can provide no assurance that these matters will not be material to its business in the future. It also said some of its senior management’s time could be involved, and that could impinge on the time they have available to devote to other matters relating to the business.

CFTC may change application of speculative limits

scgadmin — Fri, 18 May 2012 06:54:28 +0000

WASHINGTON (MarketWatch) — The Commodity Futures Trading Commission is considering changing how it tallies positions under new limits on speculation in commodity markets, according to people familiar with the matter.

Big energy companies fret over fracking: study

scgadmin — Fri, 18 May 2012 06:54:26 +0000

Energy companies reportedly have more concerns over the risks associated with key shale-gas technology.

Are you ready for water inflation?

scgadmin — Fri, 18 May 2012 06:54:22 +0000

We haven’t learned any lessons from the ethanol debacle.

Cody Willard on Apple suppliers, oil, Greece and more

scgadmin — Fri, 18 May 2012 06:54:19 +0000

All right guys, ask me anything.

Financial Stocks: J.P. Morgan weighs on financial stocks

scgadmin — Fri, 18 May 2012 06:54:16 +0000

J.P. Morgan Chase & Co. falls more than 4% after a report of further derivatives losses. Sector is further pressured by grim economic data.

Osiris stem-cell therapy wins Canadian approval

scgadmin — Fri, 18 May 2012 06:54:13 +0000

BOSTON (MarketWatch) — Shares of Osiris Therapeutics jumped 14% to $5.60 in after-hours trading Thursday on news that Canadian regulators have approved its product Prochymal for the treatment of acute graft-vs-host disease, or GVHD, in children. GVHD is a life-threatening complication associated with such procedures as bone-marrow transplantation. Osiris added it was the world’s first regulatory approval for a manufactured stem-cell product. Prochymal will be commercially available in Canada later this year.

HSBC raises prospect of UK retail operation’s sale

scgadmin — Fri, 18 May 2012 06:54:10 +0000

HSBC Holdings PLC HBC has raised the prospect of selling its British retail banking operation if new regulations prove too demanding, The Times in the U.K. reported Friday. Stuart Gulliver, chief executive of the global banking group, told analysts the British retail bank would have to meet strict internal targets when the new rules came in–and if it did not, it would be sold, according to The Times.

MetLife China sees strong insurance demand

scgadmin — Fri, 18 May 2012 06:54:07 +0000

–Chinese demand for life insurance is set to remain strong in the coming years, says MetLife China CEO –A fast-ageing society and an increasingly mobile population guarantees the demand, Bob Pei says –MetLife China eyes China’s pension market, with a focus on enterprise annuities Chinese demand for life insurance is set to remain strong in the coming years due to a fast-ageing society and an increasingly mobile population as the country’s pace of urbanization accelerates, MetLife China Chief Executive Bob Pei said.

Mutual Funds Weekly: IPOs get IOU from ETFs

scgadmin — Fri, 18 May 2012 06:54:03 +0000

Facebook comes to market on Friday in one of the largest and most-anticipated initial public offerings in U.S. history. But a certain group of potential big buyers will have to wait.