Trader Accused in Libor Case Had Help From Boss, Evidence Shows (WSJ)
The man accused of being the ringleader of a global interest-rate-rigging conspiracy received a helping hand from his boss, according to evidence presented in a London trial Thursday. Tom Hayes, a former UBS AG trader in Tokyo, got multiple assists from his direct manager, Mike Pieri, to get their UBS colleagues to move their interest-rate data to benefit Mr. Hayes’s trading positions, according to emails shown in court.
Greece Remains More Optimistic Than Its Creditors (Bloomberg)
The most recent vow came Thursday from the government’s chief spokesman -- who said an agreement could be hammered out by Sunday -- even as the International Monetary Fund and other creditors insisted that much work remains to be done.
U.S. Jobless Claims Rise, But Job Growth Still Seen Strong (WSJ)
Initial jobless claims, a proxy for layoffs across the U.S. economy, increased by 7,000 to a seasonally adjusted 282,000 in the week ended May 23, the Labor Department said Thursday. “On balance, this week’s uptick in initial and continuing claims comes off of historically low levels and labor market separations remain healthy,” Barclays economist Jesse Hurwitz said in a note to clients.
Man Who Blew Pot Into Pet Chameleon's Face Acquitted Of Animal Cruelty (AP)
A judge has acquitted a Chicago man of animal cruelty charges filed after the man posted a video of himself smoking marijuana with a chameleon. After viewing the video and hearing the arguments of prosecutors and defense attorneys, Cook County Circuit Judge Robert Kuzas ruled Wednesday that Bruce Blunt's behavior was "uncalled for and immature" but didn't rise to criminal behavior. Blunt posted a Facebook video of himself smoking marijuana with the chameleon, Binna, earlier this year. That prompted a complaint from People for the Ethical Treatment of Animals. After his acquittal, Blunt said he blew smoke into the chameleon's mouth because it seemed to calm the aggressive reptile.
David Tepper Said to Back His Protege’s New Credit Fund (Bloomberg)
Eric Cole, 43, will open Warlander Asset Management next year to invest in global credit, according to a person with knowledge of the matter who asked not to be identified because the information is private. Alex Ginzburg, who has been working as a partner at MatlinPatterson Global Advisers, will also help to start the New York-based firm as head of research.
Puerto Rico's Debt Crisis Is Big Business for Washington Lobbyists (Bloomberg)
The public battle for ownership of the word underscores how despised such assistance remains in America seven years after the financial crisis. It also shows how the U.S. territory’s $72 billion debt saga has become a booming business for Washington lobbyists, who are developing websites, creating advertisements and lining up the support of conservative advocacy groups.
'Robotic rump' helps med students avoid being pains in patients' butts (UPI)
A robotic derriere has been developed by scientists at the University of Florida, Drexel University and the University of Wisconsin-Madison, and supported by the National Science Foundation. Called "Patrick," scientists say the pseudo backside is helping proctology students gain an upper hand in carrying out what have typically been uncomfortable examinations for millions of men, KQED TV & Radio reported. Fitted with four sensors, the equipment will tell a student whether they are applying the right amount of pressure and whether they are properly covering the prostate. Such intimate exams have for decades often been uncomfortable for the patient and the physician, which is Patrick's entire reason for being.