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Brazil police formally accuse JBS Batista brothers of insider trading
Brazil's federal police on Thursday formally asked prosecutors to bring charges against brothers Wesley and Joesley Batista, the owners of meatpacker JBS SA (JBSS3.SA), for insider trading. The Batista brothers saved as much as 138 million reais ($44 million) through allegedly illegal market dealings in May, police said. Brazil's President Michel Temer has been hit with three corruption charges based on the testimony of the Batistas and other JBS executives.
Hack of Wall St. regulator rattles investors, lawmakers
The SEC's EDGAR filing system houses market-moving information with millions of corporate filings ranging from quarterly earnings to statements on acquisitions. The SEC said on Wednesday evening it had discovered last month that cyber criminals may have used a hack detected in 2016 to make illicit trades. It's hugely problematic and we've got to be serious about how we protect that information as a regulator.
Liliane Bettencourt, L'Oréal Heiress Vexed by Swindling Case, Is Dead at 94
He was placed under formal investigation, suspected of having taken advantage of Mrs Bettencourt's mental frailty to obtain campaign funds. In 1950, Liliane Schueller married Andre Bettencourt, the scion of an old Norman Roman Catholic family. Liliane Henriette Charlotte Schueller was born in Paris on Oct 21, 1922, to Eugene Schueller and the former Louise Madeleine Berthe Doncieux. In the tapes, Mrs Bettencourt talked to advisers and Mr Banier about tax evasion, Swiss accounts and political contacts.
US Stock Indexes Dip in Afternoon Trading; Oil Falling
A slide among technology companies led US stock indexes slightly lower Thursday, wiping out modest gains from a day earlier. The Russell 2000 index of smaller-company stocks added 3 points, or 0.2 percent, to 1,448. The central bank, led by Fed Chair Janet Yellen, indicated that it remains on course to raise interest rates on several occasions over the coming year. Despite the pullback, the sector remains up about 25 percent to lead all other gainers in the S&P 500.
Wall St. lower as Apple, Fed view weigh
The three major US indexes were trading lower on Thursday, scaling back from their record levels, weighed down by Apple and the Federal Reserve's indication to raise interest rates for third time despite low inflation. Shares of Apple (AAPL.O) fell 1.3 percent and was on track to post its biggest two-day decline since June. Fed Chair Janet Yellen said the fall in inflation this year remained a mystery, adding that the central bank was ready to change the interest rate outlook if needed.
How to Hack Your Brain (for $5,000)
To fulfill his flow-finding mission, Mr Wheal wants to bring what he calls his Dojo Domes to locations around the world. Mr Wheal began to envision gatherings of this sort in 2007, while he was teaching at Esalen, the spiritual retreat in California. Reading Stealing Fire, Mr Lang-Willar said, he became convinced that nothing less than a cultural awakening was underway. Sign Up You agree to receive occasional updates and special offers for The New York Times's products and services.
KB Home Cuts CEO's Bonus In Essentially Worthless Response To Vulgar Rant
KB Home's board of directors pledged Thursday to cut CEO Jeffrey Mezger's bonus payment by 25 percent this year after he was recorded shouting insults at his neighbor Kathy Griffin. The penalty is essentially meaningless, since Mezger isn't regularly paid a bonus -- and when he is, it's a pittance compared to his annual compensation. According to its 2016 shareholder report, KB Homes last paid Mezger a bonus in 2014.
Tax Reform for the Rich: Reduce the Rates but Lose the Breaks
The top 1 percent paid a total of $542.6 billion in federal tax, or an astounding 39.5 percent of the total income tax. If you want to take a more expansive view of rich, the top 10 percent pay 71 percent of the total tax. Reform means ending those tax breaks, a move that always draws protests and intense lobbying from those who have benefited from them.
Macquarie leapfrogs Goldman to join top tier of commodity banks
While other banks cut back, Macquarie has boosted its operations to become the largest non-producer marketer of physical gas in North America. In the aftermath of the global financial crisis in 2009, Macquarie acquired Constellation Energy's downstream natural gas trading platform, a good example of the bank's long-term commodity strategy, said a former Macquarie executive. A banking source in Europe said Macquarie was also canny in taking advantage of its position as a non-US bank.
KB Home to Cut C.E.O.'s Bonus After His Rant Against Kathy Griffin
Any similar incidents in the future, the company also said, would result in Mr Mezger's dismissal. Mr Mezger was recorded on Saturday by security cameras at Ms Griffin's home in the Bel Air neighborhood of Los Angeles shouting profanities and derogatory comments at Ms Griffin and her boyfriend, Randy Bick, after they had called the police to complain about noise from Mr Mezger's backyard. Advertisement Continue reading the main story. The audio recording, published by HuffPost, provoked an immediate backlash on social media.
Hack of U.S. securities regulator rattles investors, stirs doubts
The incursion at the Securities and Exchange Commission (SEC) struck at the heart of the US financial system. Accessing documents before they are released publicly would offer hackers a lucrative opportunity to trade on that information. It's hugely problematic and we've got to be serious about how we protect that information as a regulator. Clayton will be grilled on the incident and its aftermath at a hearing by the Senate Banking Committee on Tuesday.
Amazon hiring 2,000 people in New York City, opening big new Manhattan office for AWS, Amazon Fashion and more
Amazon is gearing up for a big expansion in the Big Apple. The company will open a new 360,000-square-foot office in Manhattan next year, with room for 1,800 workers. The new office will house people working on Amazon Web Services, Amazon Fashion and Amazon Advertising. The office will be in Five Manhattan West, a 16-story office building undergoing a $353 million renovation. This expansion comes as Amazon searches for a city to put its second headquarters.
Chipmaker GlobalFoundries asks EU to investigate bigger rival TSMC
US electronic chipmaker GlobalFoundries has asked European antitrust regulators to investigate market leader TSMC (2330.TW), accusing the Taiwanese firm of unfair competition, an industry source said on Monday. Any accusation that TSMC threatens or harms customers isabsolutely baseless, and we will vigorously defend our hard-earned trust and our most valued reputation. Companies can be fined up to 10 percent of their global turnover for breaching EU antitrust rules.
A Consumer Advocate Battles Equifax and a Storm
Nobody appointed me vice president of customer service for Equifax, but somebody had to do the job. When Equifax told the world on Sept. 7 that thieves had helped themselves to as many as 143 million Social Security numbers, it sent people to a website for more information. Those who turned to the phones overwhelmed Equifax's call centers, and people who did get through found that most representatives were not helpful. Others were astounded that Equifax had the gall to charge for permanent credit freezes.
Wall St. lower as investors assess Fed's hawkish stance
Nine of the 11 major S&P sectors were lower, with the technology index's. Apple (AAPL.O) was down 1 percent and was the biggest drag on all the three major indexes. SPSY was among the two gainers as banks tend to perform better in a higher rate environment. Citigroup (C.N), Bank of America (BAC.N), JPMorgan (JPM.N) and Goldman Sachs (GS.N) were all higher in early trading.
The New Yorker Said No, but These Cartoons Just May Make Your Day
Of the 1,000 cartoons submitted to The New Yorker each week, only about 15 are published in the magazine. He has been submitting his cartoons to the magazine since early last year, but has yet to be published in it. The result is the exhibition Not OK - Great Cartoons That Weren't Good Enough, with 45 pieces by 15 artists at Kave Espresso Bar and Event Space.
Lower U.S. Oil Prices Are a Shot in the Arm for Crude Exports
4 2 0 F M A M J J A S J US crude exports, weekly. In recent years, the rise of the highly productive and nimble US shale industry has pushed oil prices down world-wide. Exports have become a relief valve for US drillers, who have continued to pump despite relatively low prices. The export window is wide open, said Michael Wittner, global head of oil research at Societe Generale.
Wall St. opens slightly lower after Fed's hawkish stance
US stocks opened slightly lower on Thursday, even as the Dow managed to hit another record high, a day after the Federal Reserve signaled it could raise interest rates for the third time this year despite low inflation. DJI fell 10.56 points, or 0.05 percent, to 22,402.03. The S&P 500.SPX lost 2.58 points, or 0.10 percent, to 2,505.66. IXIC dropped 11.07 points, or 0.17 percent, to 6,444.98. Reporting by Tanya Agrawal; Editing by Arun Koyyur.
U.S. jobless claims fall; hurricanes still affecting data
Other data on Thursday showed manufacturing activity in the mid-Atlantic region accelerated in September amid a surge in new orders. Initial claims for state unemployment benefits declined 23,000 to a seasonally adjusted 259,000 for the week ended Sept. 16, the Labor Department said. Claims in Texas surged in the wake of Harvey, which disrupted oil, natural gas and petrochemicals production, leaving some workers temporarily unemployed.
Daimler joins rush to add more North American auto plants: report
US automakers are facing mounting pressure amid slowing demand in the country, as Asian and European automakers aggressively ramp up vehicle production in North America, including a new investment by Daimler AG(DAIGn. A Daimler spokeswoman said on Wednesday the company planned a formal announcement about its plans later in the day. Indeed, Detroit's automakers are already temporarily idling factories and laying off thousands of workers as demand slows for their sedans and luxury cars.

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