From Fnno.com, This is the financial news network. I’m Chuck Pierce. Here’s what’s in the news for Tuesday July 24, 2012. The Wall Street Journal reports Fed governor Sarah Bloom Raskin toughened her public criticism of a draft measure restricting banks’ ability to trade with their own money, arguing in a speech that regulators should draw the exemptions to the rule more narrowly. She argued for a stronger version of the Volcker rule that would be more difficult for banks to work around. Reuters reports Moody’s Investors Service changed its outlook for Germany, the Netherlands and Luxembourg to negative from stable as fallout from Europe’s debt crisis cast a shadow over the euro zone’s top-rated countries. Reuters also reports Carlyle Group (NASDAQ:CG) and BC Partners, working together, are in advanced talks to buy United Technologies Corp.’s (NYSE:UTX) industrial businesses, sources say, in a deal that could be valued over $3.5B. Bloomberg reports trading surges that temporarily increased the value of credit derivatives held by JPMorgan Chase (NYSE:JPM) may offer clues about whether traders at the bank hid losses that have jumped to $5.8B. Finally, Bloomberg also reports DreamWorks Animation SKG (NASDAQ:DWA) plans to expand beyond 3-D movies and home video. Its acquisition of Classic Media follows a deal to create an indoor theme park at the Meadowlands in New Jersey and one to develop animation, parks and live entertainment in China. For more financial news and analysis follow us on Twitter @FNNOnline or check out our website at fnno.com.
