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Breaking News

Jussie Smollett’s conviction for racist, homophobic attack hoax tossed in stunning reversal
Business

Business briefs

By
Post Staff Report
Published June 23, 2010, 4:00 a.m. ET

Stocks dip

Stocks fell, with the Dow Jones industrial av erage down 148.89 points to 10,293.52, the Standard & Poor’s 500 Index off 17.89 points to 1,095.31 and the Nasdaq Composite Index down 27.29 points to 2,261.80.

Bank rules

Banks may be allowed to maintain small invest ments in private equity and hedge funds under a Senate revision of a new rule on bank trading that is otherwise being tight ened, aides said yester day. Senate Democrats will spell out today how they propose to curb risky trading by banks.

Lion limit

Lionsgate, locked in a proxy fight with bil lionaire Carl Icahn, said its lenders raised “change of control” terms in a $340 million credit fa cility that could have trig gered a default if anyone acquired more than 20 percent of its stock. The new limit is 50 percent; investor Icahn has 32 per cent.

Fly talk

Google Inc., joined by Twitter, asked a federal appeals court to reverse a lower court’s order blocking online financial news service Theflyon thewall.com from issuing immediate reports of banks’ stock upgrades and downgrades.