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Thursday, May 31, 2012

Daily Investor Briefing: Wall Street in biggest monthly loss...

Reuters » Daily Investor Update
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05/31/2012
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Wall Street in biggest monthly loss since September
NEW YORK (Reuters) - Stocks fell on Thursday as the benchmark S&P 500 index ended the worst monthly performance since September, marked by worries over Europe's mounting credit problems.
Jobs data points to loss of momentum in recovery
WASHINGTON (Reuters) - Private payroll growth accelerated only slightly last month and claims for jobless benefits rose last week, suggesting the U.S. labor market recovery was stalling after a strong performance early in the year.
ECB, EU officials warn euro's survival at risk
BRUSSELS (Reuters) - The European Central Bank stepped up pressure on Thursday for a joint guarantee for bank deposits across the euro zone, saying Europe needed new tools to fight bank runs as the bloc's debt crisis drives investors to flee risk.
Insight: Gains that funds made on bets by JPMorgan whale may be limited
(Reuters) - JPMorgan Chase & Co's losing bets in credit derivatives were so huge that one of its traders was known as "the London whale" and the hedge funds that attacked him have often been portrayed as harpooners who made a killing. But the story, it turns out, is more complicated than that.
PIMCO's Gross warns of economic "breaking point"
NEW YORK (Reuters) - The debt crisis and central bank policy responses have degraded the quality and value of debt markets and signal a "potential breaking point" in the global economy, PIMCO's Bill Gross, manager of the world's largest bond fund, said in his monthly letter to investors.
Same-store sales up in May, but shoppers careful
(Reuters) - Low prices and good deals helped wary U.S. consumers overcome their growing anxiety about the economy in May, leading to stronger-than-expected sales for top retailers.
British ministers backed Murdoch takeover: inquiry
LONDON (Reuters) - British cabinet ministers worked behind the scenes to support James Murdoch's bid to take over a pay-TV company, a public inquiry heard on Thursday, adding weight to opposition criticism of the government's ties to powerful media barons.
Wal-Mart says bribe probe won't hurt international growth
ROGERS, Arkansas (Reuters) - Wal-Mart Stores Inc does not expect ongoing investigations into possible foreign bribery to impact new store growth internationally, Walmart International CEO Doug McMillon said on Thursday.
Gupta helped promote Rajaratnam funds: trial witness
NEW YORK (Reuters) - To convict former Goldman Sachs Group Inc board member Rajat Gupta of insider trading, prosecutors must convince the jury he benefited from his relationship with Raj Rajaratnam, the now-imprisoned hedge fund manager he is accused of tipping.
Money flies out of Spain, regions pressured
MADRID (Reuters) - Spaniards alarmed by the dire state of their banks are squirreling money abroad at the fastest rate since records began, figures showed on Thursday, and the credit ratings of eight regions were cut.
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