What hedge funds are buying

The 50 largest funds snapped up shares of big health care names such as Allergan (AGN), Actavis (ACT), and Covidien (COV) in the second quarter in an effort to capitalize on the wave of mergers and acquisitions in the sector, according to data from FactSet.

Money Funds Test Geithner, Bernanke as Schapiro Defeated

Money-market mutual funds, an alternative to bank accounts for individuals and companies, will test the resolve of the U.S. Federal Reserve and Treasury Department to prevent another financial crisis after the $2.6 trillion industry successfully lobbied against more regulation by the Securities and Exchange Commission.

China's WTO suit hits back at US import duties

GENEVA: China launched a complaint at the World Trade Organization on Friday against US import duties on 22 Chinese products that the United States says are unfairly priced or subsidised, including solar panels, wind towers and steel products.

Consumer bureau chief showdown looms

WASHINGTON (CNNMoney) -- The Consumer Financial Protection Bureau -- a point of pride in the Obama administration's efforts to reform Wall Street -- faces a key test in the Senate on Thursday over whether it will have a director with real power.