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Friday, March 29, 2013

Daily Investor Briefing: Wall Street Week Ahead: Pullback...

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03/29/2013
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 Week Ahead: Pullback possible after S&P's milestone
NEW YORK (Reuters) - After flirting with an all-time high for three weeks, the S&P 500 posted its best closing level in history. But some strategists say Thursday's record could be a harbinger that the stock market rally is running out of steam.
Quarter of U.S. firms in China face data theft: business lobby
BEIJING (Reuters) - A quarter of firms that are members of a leading U.S. business lobby in China have been victims of data theft, a report by the group said on Friday, amid growing vitriol between Beijing and Washington over the threat of cyber attacks.
Consumer data support sturdy first-quarter growth picture
WASHINGTON (Reuters) - Consumer spending rose in February and sentiment among Americans perked up this month, further signs of an acceleration in economic activity in the first quarter after a near stall late last year.
Michael Dell spoke with Blackstone during "go-shop": source
NEW YORK (Reuters) - Dell Inc founder and CEO Michael Dell met with private equity firms Blackstone Group LP and Francisco Partners during the computer maker's "go-shop" period, a person familiar with the matter said on Friday.
Loeb's Third Point outperforms hedge fund rivals again
BOSTON (Reuters) - Hedge fund manager Daniel Loeb outperformed his rivals again in the first quarter with returns that kept pace with the stock market's recent rally, a person familiar with Loeb's returns said.
More trouble for Cohen's SAC Capital as Steinberg indicted in NY
(Reuters) - U.S. prosecutors on Friday charged Michael Steinberg, a veteran portfolio manager at Steven A. Cohen's hedge fund, with insider trading in two technology stocks, the most senior SAC Capital Advisors' employee to be indicted in the government's long-running probe.
Fiat CEO probed for violation of workers' rights
MILAN (Reuters) - Fiat's CEO Sergio Marchionne is being investigated in Italy over allegations of violation of labor rights in a long-running dispute at a factory near Naples, the automaker said on Friday.
Treasury's Lew heading to Europe for talks on economy
WASHINGTON (Reuters) - U.S. Treasury Secretary Jack Lew will travel to Europe in early April, his second international trip since taking office a month ago, to discuss recent deterioration in the euro zone and prospects for boosting global economic growth.
Big depositors in Cyprus to lose far more than feared
NICOSIA (Reuters) - Big depositors in Cyprus's largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday.
Proxy firms pile on pressure for better MetroPCS-T-Mobile deal
NEW YORK (Reuters) - Proxy advisor Glass Lewis on Friday became the second firm to suggest that MetroPCS Communications Inc shareholders vote against a proposed merger with T-Mobile USA, adding pressure on Deutsche Telekom AG to sweeten the deal.
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