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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Mar 30, 2013
Page
11
Americans increased spending by 0.7 percent in February while after tax income rose 1.1 percent helped by a stronger job market. The saving rate climbed to 2.6 percent as inflation remained below the 2 percent target. Employers added about 200,000 jobs a month since November and the unemployment rate fell to 7.7 percent.
Michael Steinberg, 41, a senior portfolio manager at SAC Capital Advisors, was arrested in Manhattan and pleaded not guilty to insider trading charges. The case ties to a probe of SAC trading practices as regulators pursue a record settlement involving two affiliates for over 614 million dollars.
UPS agreed to pay 40 million dollars to resolve a federal criminal probe tied to deliveries for illicit online pharmacies. The company must take steps to block illegal online drug dealers from using its service, while no crimes will be charged. FedEx is also among the targets of the investigation.
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