Deal reached to rein in overseas trading. | Kroger buys rival grocer Harris Teeter, citing potential for growth. | U.S. vows to battle abusive bill collectors. | S.E.C. hopes for validation in a Goldman Sachs trader case. Andrew Ross Sorkin says Fabrice Tourre’s day in court may lack some details. | Regulators seek stiffer bank rules on capital. | Ronald Perelman sues old friend Michael Milken (Not to worry. It isn’t personal.). | Regulators examining sales of early financial data. | Many paths remain for a case against SAC.
A look back on our reporting of the past week’s highs and lows in finance.
Senators Question Chinese Takeover of Smithfield | Several senators said they feared that promises by Shuanghui International would not be honored over the long term. DealBook »
Kroger Buys Rival Grocer Harris Teeter, Citing Potential for Growth | The nation’s second-largest retailer is buying an upscale grocer known for fresh foods and produce, in a deal valued at about $2.44 billion. DealBook »
Big Seal of Approval for Dell Founder’s Buyout Bid | Institutional Shareholder Services recommended that Dell investors accept the $24.4 billion offer made by the company’s founder and chief executive, Michael S. Dell. DealBook »
LVMH Is Buying the Luxury Clothier Loro Piana | Sergio and Pier Luigi Loro Piana, the co-chief executives who are great-great-grandchildren of the cloth merchant Giacomo Loro Piana, will continue to run the company. DealBook »
Deal Professor: A Standard Criticism of Activist Investors That No Longer Holds Up | Studies have shown that “short-term†hedge funds can actually create long-term value for a company, says Steven M. Davidoff. DealBook »
Potential for Deals Drives a Big Surge in the Biotech Sector | There were five acquisitions in the second quarter, six initial public offerings in June and five more expected soon as big pharmaceutical companies to home in on smaller biotechnology firms. DealBook »
Senators Introduce Bill to Separate Trading Activities From Big Banks | Senator Elizabeth Warren and Senator John McCain are sponsoring a 21st-century version of the Glass-Steagall Act from the 1930s, to break up large banks. DealBook »
16 Senators Seek Inquiry of A.T.M.-Style Pay Cards | Instead of paper checks or direct deposit, employers are issuing A.T.M.-style cards that can have large fees associated with them. DealBook »
Deal Reached to Rein in Overseas Trading | Regulators in Washington agreed in principle on a plan to rein in risky trading by banks overseas, a truce that follows a messy split in the Commodity Futures Trading Commission. DealBook »
S.E.C. Rule Allows Ads on Private Offerings | The end of an 80-year-old ban on advertising by hedge funds, buyout firms and start-up companies seeking capital will fundamentally change the way that many issuers raise money in the private marketplace. DealBook »
State Inquiry Into Sale of Risky Investments | Massachusetts’s top financial regulator has subpoenaed 15 firms as part of an investigation into the practice of selling complex financial products to unsophisticated customers. DealBook »
U.S. Vows to Battle Abusive Bill Collectors | The Consumer Financial Protection Bureau says it has the authority to regulate debt collection practices, and other agencies are moving against aggressive practices. DealBook »
S.E.C. Hopes for Validation in Goldman Trader Case | For Fabrice Tourre, an unfavorable verdict could yield a fine, or a ban from the securities industry. For the S.E.C., the trial is a defining moment that follows one courtroom disappointment after another. DealBook »
- DealBook Column: Trader’s Day in Court May Lack Some Details | Fabrice Tourre’s case is seen within the S.E.C. and on Wall Street as a referendum on Goldman Sachs. But all of the details might not be presented, says Andrew Ross Sorkin. DealBook »
Regulators Seek Stiffer Bank Rules on Capital | The proposal would increase the financial cushion banks must maintain to protect their assets in a crisis. DealBook »
NYSE EuroNext to Take Over Administration of Libor | The move is a symbolic blow to a British financial industry that has been rocked by scandals and forced to look to the outside for leadership. DealBook »
Regulators Examining Sales of Early Financial Data | The New York attorney general’s office is taking a close look at a common practice that allows trading firms to pay data providers like Thomson Reuters and Dow Jones for early access to market-moving news and information. DealBook »
- Reuters to Suspend Early Peeks at Key Index | Yielding to pressure from New York’s attorney general, Thomson Reuters is expected to suspend the early release of a closely watched consumer confidence index to clients willing to pay extra. DealBook »
Perelman Sues Old Friend Milken (Not to Worry. It Isn’t Personal.) | One of Ronald Perelman’s companies has sued Michael Milken and others on accusations of fraud. DealBook »
Madoff Case Puts Focus on the Duties of Custodial Banks | A lawsuit brought by investors who lost $60 million in Bernard L. Madoff’s Ponzi scheme claims that Westport National Bank failed to protect their money. DealBook »
Pension Effort Aims to Ease Burden on States and Cities | A proposal by Senator Orrin Hatch of Utah aims to enable governments to turn their pension plans over to life insurers. DealBook »
Britain Backs Rules Aimed at Stemming Risky Banking | The chancellor of the Exchequer said the government would adopt the wide-ranging proposals, including measures that could have bankers facing jail time for poor business decisions. DealBook »
Many Paths Remain for a Case Against SAC | Prosecutors continue to consider insider trading charges against SAC Capital Advisors, despite a setback. DealBook »
‘Stormy Weather’ | In 1933, Congress passed the Glass-Steagall Act and Ethel Waters topped the charts with a song about a “Sharknado.†YouTube »
