Financial news on June 24, 2006

Business and Financial news
Court Says S.E.C. Lacks Authority on Hedge Funds

A federal appeals court ruled that the commission exceeded its power by treating investors in a hedge fund as "clients" of the fund manager. Read more..

By FLOYD NORRIS - The New York Times

Deals Spur Energy Rally; Other Shares Sag

By Bloomberg News. Read more..

By BLOOMBERG NEWS - The New York Times

Fresh Opposition to Europe Patent Plan

Industry groups are urging the European Commission to abandon its promise to adopt a single patent regime for the 25 countries of the European Union. Read more..

By PAUL MELLER - The New York Times

Investors Are Looking on the Sunny Side of a Downturn

Most investors — professionals and amateurs — have reacted with relative calm to the recent downdraft in global financial markets. Read more..

By VIKAS BAJAJ and JEREMY W. PETERS - The New York Times

It May Be Time to Put a Toe Into Stocks

A chart of the stock market over the last couple of months may look like the glide path of a damaged jet, but one investment adviser says there is no need to panic. Read more..

By CONRAD De AENLLE - The New York Times

More Rumblings About Net Privacy

An online news outlet has published details about secret rooms where government spies are said to be gaining access to private e-mail messages. Read more..

By DAN MITCHELL - The New York Times

Savings Outweigh any Stigma at Upscale Consignment Shops

Once the purview of fashion aficionados seeking deals on power suits and Prada boots, consignment stores have diversified. Read more..

By HILLARY CHURA - The New York Times

Sportonomics Beguiles 3 Economists

The authors of "The Wages of Wins" are frank about their desire to have their book be seen as the "Freakonomics" of sports, but does it really matter whether Shaq is better than Kobe? Read more..

By JOE NOCERA - The New York Times

Televisa's Group Said to Bid $12 Billion for Univision

The bid now sets the stage for a showdown as Univision weighs whether to accept the offer, try to push for a higher bid or decide against selling the company. Read more..

By ANDREW ROSS SORKIN - The New York Times

U.S. Pushes for Dismissal of Lawsuit Against AT&T

SAN FRANCISCO, June 23 — A Justice Department lawyer pressed a federal judge on Friday to dismiss a lawsuit against AT&T over a government surveillance operation. But the plaintiffs maintained that the case could go forward even if some aspects we... Read more..

By JOHN MARKOFF - The New York Times

See what else happened on June 24, 2006