Wednesday, 16 October 2013

The Morning Wrap

Deadline: Senate Majority Leader Harry M. Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) are still working to finalize plans to raise the debt limit and re-open the government, but the inability of House lawmakers to agree on details of a bill left Washington lurching toward a critical borrowing deadline with no clear plan for avoiding a government default, The Washington Post reports. London Whale: JPMorgan Chase will pay $100m and admit its "London whale" trading episode had a "manipulative" effect on credit derivatives markets in a settlement with the Commodity Futures Trading Commission, according to the Financial Times. MLK Suit: Harry Belafonte has filed a lawsuit in federal court against the three surviving children of one of his closest friends: the Rev. Dr. Martin Luther King, over three documents that used to be in Mr. Belafonte's collection of memorabilia, The New York Times reports. Sachs Discrimination: Goldman Sachs Group Inc. must turn over internal gender-bias complaints by female workers to lawyers representing women in a lawsuit alleging the firm discriminated against them in pay and promotions, Bloomberg reports. Cyberbullying: Authorities in central Florida have charged two girls, aged 12 and 14, with stalking in the bullying-suicide case of Rebecca Sedwick, one of at least a dozen or so suicides in the past three years that were attributed at least in part to cyberbullying, the Associated Press reports.

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