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Tuesday, March 20, 2012

Daily Investor Briefing: Stocks' rally stalls on China growth...

Reuters » Daily Investor Update
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03/20/2012
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Stocks' rally stalls on China growth worries
NEW YORK (Reuters) - A warning about China's growth sparked selling in energy and industrial shares on Tuesday, but the broad market's losses were contained, a sign of resilience for U.S. stocks.
HP to merge printer, PC arms in revamp: sources
SAN FRANCISCO (Reuters) - Hewlett Packard Co CEO Meg Whitman plans to combine the computing giant's PC and printing divisions in a major internal overhaul intended to spur combined sales of hardware to customers, two sources familiar with the move told Reuters.
Oracle software sales up 7 percent, shares rise
BOSTON (Reuters) - Technology giant Oracle Corp said quarterly sales of new software rose 7 percent from a year earlier to $2.4 billion, at the high end of its own forecast.
Home building permits near 3.5-year high
WASHINGTON (Reuters) - Permits for homebuilding neared a 3.5-year high in February, suggesting a budding recovery in the housing market was still on track even though groundbreaking activity slipped.
JPMorgan wins dismissal of Ponzi scheme accusations
(Reuters) - A federal appeals court dismissed a lawsuit seeking to hold JPMorgan Chase & Co responsible for services allegedly provided by the former Washington Mutual Inc to advance a Ponzi scheme at Caribbean-based Millennium Bank.
Glencore to buy Canada's largest grain handler
LONDON/WINNIPEG, Manitoba (Reuters) - Glencore , already the world's No. 1 commodities trader, has agreed to buy Canada's largest grain handler in a C$6.1 billion ($6.2 billion) deal that will shake up an industry that should flourish as global demand for food surges.
Insight: The Wall Street gold rush in foreclosed homes
NEW YORK (Reuters) - Dan Magder recently gave up a top job with private equity firm Lone Star Funds to strike out on his own and become a landlord.
IRS forms "SWAT team" for tax dodge crackdown
WASHINGTON (Reuters) - The Internal Revenue Service is staffing up with high-powered talent to crack down on companies shifting profits from country to country to lower their tax bills, a hot strategy the agency has targeted before with only limited success.
Apple's new iPad much hotter than prior model: test
SAN FRANCISCO (Reuters) - Apple Inc's new iPad reached temperatures of 116 degrees Fahrenheit (47 Celsius) after 45 minutes of running an intense action game, or up to 13 degrees F (8 degree C) hotter than the previous iPad under similar conditions, according to a test run by influential reviewer Consumer Reports.
U.S. imposes low duties on Chinese solar panels
WASHINGTON (Reuters) - The United States on Tuesday dealt a blow to U.S. manufacturers of solar panels and boosted shares in their Chinese rivals when it imposed preliminary punitive duties of less than 5 percent on imports from China.
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