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Tuesday, August 21, 2012

Daily Investor Briefing: Wall Street slips after S&P 500 hits...

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08/21/2012
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 slips after S&P 500 hits four-year high
NEW YORK (Reuters) - Stocks fell on Tuesday after the S&P 500 hit its highest level in four years as the benchmark index faced technical resistance and traders cashed in recent gains.
Dell revenue disappoints, shares slide
SAN FRANCISCO (Reuters) - Dell Inc warned of a "challenging" second half for computer sales and posted quarterly revenue below Wall Street forecasts, sending its shares down almost 5 percent.
Glencore says $30 billion Xstrata deal "not a must-do"
LONDON (Reuters) - Glencore's $30 billion bid for miner Xstrata is not a "must-do deal" its chief executive said on Tuesday, in making the company's strongest suggestion yet that it will not yield to key shareholder Qatar's demands for an improved offer.
Best Buy suspends profit outlook, share buybacks
(Reuters) - Best Buy Co Inc suspended giving a profit outlook and conducting share buybacks for the rest of the year, as it looks to give its newly named chief executive a chance to understand the business.
Shell plans at least $1 billion a year China shale gas investment
BEIJING (Reuters) - Royal Dutch Shell plans to spend at least $1 billion a year exploiting China's potentially vast resources of shale gas, the firm's top China executive said, part of an aggressive strategy to expand in the world's biggest energy market.
Fed's Lockhart says mind not made up on easing
ATLANTA (Reuters) - Atlanta Federal Reserve Bank President Dennis Lockhart said on Tuesday he had not yet made up his mind on whether further monetary easing is warranted.
Another risk officer in JPMorgan "Whale" trade retains lawyer
NEW YORK (Reuters) - Another JPMorgan Chase & Co risk manager, who worked for a division that lost at least $5.8 billion on a series of complex derivatives trades, has hired a lawyer in connection with probes into the so-called "London Whale" trading debacle, according to sources familiar with the investigations.
Argentina says to file WTO complaint against United States
BUENOS AIRES (Reuters) - Argentina will file a complaint with the World Trade Organization (WTO) over U.S. beef and lemon import policies, the South American country's Foreign Ministry said in a statement on Tuesday.
U.S. business hopeful Congress passes Russia trade bill in September
WASHINGTON (Reuters) - A U.S. business group on Tuesday said they were hopeful Congress would approve a bill to upgrade U.S. trade relations with Russia after it returns from a month-long break and warned that U.S. companies would lose business if lawmakers don't act.
Regulator streamlines foreclosure prevention program
WASHINGTON (Reuters) - The regulator for Fannie Mae and Freddie Mac streamlined one of their foreclosure prevention programs in order to make it easier for troubled homeowners to sell their homes for less than what they owe the banks.
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