Fri, Jul 26, 2013 3:20 PM EDT 1:01
Amazon.com Inc shares hit a record after quarterly results increased optimism about the Internet retailer's U.S. business. The company reported a second-quarter net loss and weaker international growth earlier this week. However, its domestic business expanded quickly and profit in the region improved. Preet Bharara, U.S. Attorney General of the Southern District of New York, achieved what many think is his greatest ambition when he charged SAC Capital Advisors and by association their founder, Steven A. Cohen, with criminal responsibility for insider trading. Detroit's filing for bankruptcy protection is "profoundly meaningful" for the small number of local governments in the United States that are below investment grade, and could change their approach to pensions and other long-term liabilities, Moody's Investors Service said.