The Other Side of Life 24/7: Daily Investor Briefing: Pain in Spain hits Wall Street, but...

Monday, July 23, 2012

Daily Investor Briefing: Pain in Spain hits Wall Street, but...

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07/23/2012

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

Pain in Spain hits Wall Street, but stocks end off lows

NEW YORK (Reuters) - Stocks fell for a second straight session on Monday, as Spain appeared closer to needing a national bailout and poor corporate results weighed on the market.

CNOOC to buy Nexen for $15.1 billion in China's largest foreign deal

HONG KONG/CALGARY (Reuters) - State-controlled CNOOC Ltd launched China's richest foreign takeover bid yet on Monday by agreeing to buy Canadian oil producer Nexen Inc for $15.1 billion, forcing Ottawa to decide whether security concerns outweigh its desire for foreign investment in its energy resources.

Cisco to cut about 1,300 jobs

(Reuters) - Network equipment maker Cisco Systems said on Monday that it plans to cut about 1,300 jobs as part of ongoing efforts to restructure the company.

Exclusive: Apple, Samsung chiefs disagree on patent values - source

SAN FRANCISCO (Reuters) - Apple Inc Chief Executive Tim Cook and top Samsung Electronic Co Ltd executives disagreed last week on the value of each other's patents at a settlement conference ahead of a high profile U.S. trial, according to a source familiar with the matter.

McDonald's second-quarter profit falls, shares slide

(Reuters) - McDonald's Corp reported lower-than-expected quarterly profit on Monday, hurt by a weakening global economy and the impact of a stronger dollar, and said sales growth at established restaurants would slow this month.

Murdoch allies await hacking charges update

LONDON (Reuters) - Rupert Murdoch's former British newspaper boss and Prime Minister David Cameron's ex-media chief could find out on Tuesday whether they will be prosecuted in a phone-hacking inquiry that has shaken the British establishment.

Exclusive: IAC takes control of Newsweek Daily Beast from Harmans

(Reuters) - The family of late billionaire stereo magnate Sidney Harman has stopped investing in the Newsweek Daily Beast Co joint venture that it co-owns with Barry Diller's IAC/InterActiveCorp, according to representatives of both companies.

Chesapeake Energy selling Barnett Shale acreage

HOUSTON (Reuters) - Chesapeake Energy Corp , a U.S. oil and gas company facing funding shortfalls this year and next, is selling 3,300 acres in the Barnett Shale in north Texas as part of its effort to limit exposure to low-priced natural gas.

Spain slump deepens as bailout fears grow

MADRID (Reuters) - Spain's economy sank deeper into recession in the second quarter, its central bank said on Monday, as investors spooked by a funding crisis in its regions pushed the country ever closer to a full bailout.

What's up dock? Apple to shrink connector for iPhone 5

TAIPEI/HONG KONG (Reuters) - Apple Inc's new iPhone will drop the wide dock connector used in the company's gadgets for the best part of a decade in favor of a smaller one, a change likely to annoy the Apple faithful but which could be a boon for accessory makers.