The Other Side of Life 24/7: Daily Investor Briefing: Wall Street bounces back, focus on...

Tuesday, June 26, 2012

Daily Investor Briefing: Wall Street bounces back, focus on...

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06/26/2012

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 bounces back, focus on Europe

NEW YORK (Reuters) - Major stock indexes bounced back on Tuesday, but trading was light as the outlook remained clouded by doubts ahead of yet another summit to tackle the European debt crisis.

Home prices up again, but consumers less confident

NEW YORK (Reuters) - Home prices picked up in April for the third month in a row, the latest indication that a recovery in the housing market is gaining traction.

Fed's "Operation Twist" has only minor effects: Fisher

CHICAGO (Reuters) - The Federal Reserve's recent move to push down borrowing costs by replacing its short-term securities holdings with longer-term ones is doing more harm than good, a top Fed official who opposed the action said on Tuesday.

Boeing says commercial division CEO Albaugh to retire

(Reuters) - Boeing said James Albaugh is retiring as chief executive of the company's commercial airplane division, and named Ray Conner as his replacement.

Roche revamps research ops, cuts 1,000 U.S. jobs

ZURICH/NEW YORK (Reuters) - Swiss drugmaker Roche Holding AG said on Tuesday it was overhauling its research operations by closing the 80-year-old New Jersey facility where Valium was discovered, cutting 1,000 jobs and replacing its drug research chief.

Merkel buries euro bonds as summit tension rises

BERLIN/PARIS (Reuters) - German Chancellor Angela Merkel sought to bury once and for all the idea of common euro zone bonds on Tuesday, saying Europe would not share total debt liability "as long as I live", as the bloc's big four finance ministers met to narrow differences on how to solve a worsening debt crisis.

Bank bailout to spark firesale of corporate Spain

MADRID (Reuters) - The European bailout for Spain's banks will push them to sell an empire of stakes in the nation's top companies, ending a cozy culture of corporate-banking links and prompting a wider shake-up in ownership of the company landscape.

Las Vegas Sands to unveil EuroVegas site in September

MADRID (Reuters) - Las Vegas Sands will reveal in September which of Spain's two largest cities, Barcelona or Madrid, it will choose for its massive EuroVegas casino and resort project, the U.S. company's chief operating officer said on Tuesday.

Best Buy founder works with Credit Suisse on options: sources

NEW YORK (Reuters) - Best Buy Co Inc founder Richard Schulze is working with Credit Suisse to explore options for his 20.1 percent ownership stake in the company, including the possibility of a buyout, sources familiar with the situation said.

Saba's Weinstein exits bet against JPMorgan: sources

NEW YORK (Reuters) - Saba Capital Management's Boaz Weinstein recently exited a now famous and profitable credit derivative bet against JPMorgan Chase & Co , according to sources familiar with the trade.