July 14, 2013 3:20 PM
Stung by leftover-inventory because of a wet, cold spring and unsure about consumer spending, many retailers are ordering conservatively for the second busiest selling season of the year behind the end of the year holiday-period,according to executives in shipping, banking and manufacturing. Emerging economies that have thrived on ultra-loose U.S. monetary policy and insatiable Chinese demand for natural resources are in for another rude wake-up call . The U.S. Securities and Exchange Commission heads to trial against Fabrice Tourre, 34, a former Goldman Sachs bond trader. Legal experts say it is the highest-profile trial to date stemming from the SEC's investigation of the events leading up to the 2008 crisis and presents a chance for the SEC to hold an individual responsible at trial.