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Ex-fund managers can remain free during U.S. insider trading appeal

By Nate Raymond NEW YORK (Reuters) - Two former hedge fund managers persuaded a U.S. appeals court on Tuesday to allow them to remain free on bail as they seek to have their insider-trading convictions thrown out. Todd Newman, a former portfolio manager at hedge fund Diamondback Capital Management, and Anthony Chiasson, co-founder of hedge fund Level Global Investors, had been set to begin prison sentences later this summer.

Gaps widen between House, Senate on immigration

By Rachelle Younglai and Thomas Ferraro WASHINGTON (Reuters) - Work intensified on Tuesday to revamp the U.S. immigration system, but gaps widened between the Democratic-led Senate and Republican-led House of Representatives over what proposed changes should become law. The net effect was to raise further doubts about the prospects for both houses approving a comprehensive measure that would grant legal status to millions of undocumented immigrants.

Federal integrity commissioner probing hirings by Cape Breton development agency

HALIFAX - A letter from the federal integrity commissioner says the chief executive of an economic development agency in Cape Breton is being investigated for alleged patronage appointments. Mario Dion, commissioner of the Office of Public Sector Integrity, wrote that his office launched the inquiry into four hirings by John Lynn, chief executive of Enterprise Cape Breton Corp., following a complaint by Liberal MP Gerry Byrne.

Baseball: San Jose files lawsuit against MLB

The city of San Jose filed a federal anti-trust lawsuit against Major League Baseball on Tuesday after four years without progress on a potential move of the Oakland A's to San Jose. The San Jose Mercury News reported the lawsuit claims Major League Baseball giving territorial rights to San Jose to the reigning World Series champion San Francisco Giants amount to an unlawful restraint of trade.

G8 calls for urgent Syria peace talks despite Russia split

G8 leaders called Tuesday for a peace conference on Syria to be held as soon as possible but deep divisions remained as Russia stood by its embattled Middle East ally. At the end of two days of tough talks in Northern Ireland, the leaders agreed to push for a transitional government in Syria that could include members of President Bashar al-Assad's regime who switched sides.

New York police sued over surveillance of Muslims

By Chris Francescani NEW YORK (Reuters) - The New York Civil Liberties Union filed a lawsuit on Tuesday against the New York Police Department over its surveillance of Muslim communities, accusing the police of trampling on religious freedoms and constitutional guarantees of equality.

G8 leaders agree to stamp out terror ransom payments

G8 leaders agreed on Tuesday to eradicate the payment of ransoms for hostages kidnapped by "terrorists" in an attempt to remove one of the key incentives for extremists. The world's most industrialised nations also called on companies to follow their lead in refusing to pay for the release of abducted employees. British Prime Minister David Cameron, the summit host, had been keen to push the deal because funds raised by ransom payments are a substantial source of funding for terror groups, especially those in north Africa.

Israeli general says Palestinians quietly aiding U.S. peace drive

By Dan Williams JERUSALEM (Reuters) - The Palestinian administration in the West Bank has tried to help the latest U.S. peacemaking drive by quietly cutting off funds for grassroots campaigners against Israel's occupation of the territory, a senior Israeli general said on Tuesday. The allegation, which the campaigners contested, underscored the sensitivity of the Palestinians' security coordination with Israel at a time of deadlocked diplomacy over their independence drive and censure from rival Hamas Islamists.

Regulators say Deloitte agrees to 1-year ban from NY bank consulting, $10M fine

ALBANY, N.Y. - New York regulators have reached agreement for Deloitte Financial Advisory Services to pay $10 million and cease consulting for one year at state-regulated banks to settle an investigation into misconduct. The probe involved Deloitte's work for the New York branch of Standard Chartered Bank in 2004 and 2005. The company says it will work with regulators to establish best industry practices.

G8 calls for urgent Syria peace talks despite Russia split

G8 leaders called Tuesday for a peace conference on Syria to be held as soon as possible but deep divisions remained as Russia stood by its embattled Middle East ally. At the end of two days of tough talks in Northern Ireland, the leaders agreed to push for a transitional government in Syria that could include members of President Bashar al-Assad's regime who switched sides.
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