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Monday, April 1, 2013

Business Today: Wall Street set for flat open after S&P's closing high

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04/1/2013
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 set for flat open after S&P's closing high
NEW YORK (Reuters) - Stock index futures pointed to a flat open on Monday, with investors finding few reasons to keep pushing stocks higher with both the Dow and S&P 500 coming off record closing highs.
Novartis loses landmark India patent case on Glivec
MUMBAI/NEW DELHI (Reuters) - India's top court dismissed Swiss drugmaker Novartis AG's attempt to win patent protection for its cancer drug Glivec, a blow to Western pharmaceutical firms targeting India to drive sales and a victory for local makers of cheap generics.
MetroPCS urges shareholders to vote for T-Mobile deal
(Reuters) - MetroPCS Communications Inc urged shareholders to support its proposed merger with Deutsche Telekom AG unit T-Mobile USA Inc after two proxy advisory firms recommended that shareholders vote against the deal.
Lear settles with activist investors, to increase share buybacks
(Reuters) - Auto parts maker Lear Corp avoided a proxy battle with investors Marcato Capital Management LLC and Oskie Capital Management LLC by agreeing to increase and quicken the pace of its share buyback program, and add a new board member.
Russia won't help out Cyprus depositors, says minister
MOSCOW (Reuters) - The Russian government will not aid businesses that have lost money in Cyprus, First Deputy Prime Minister Igor Shuvalov said, underscoring Moscow's resolve to clamp down on the flight of capital to offshore financial centers.
China March PMIs rebound, domestic demand shines
BEIJING (Reuters) - Stronger domestic demand helped China's factory activity to rebound in March, with new orders up sharply in a sign that the underlying economic recovery is strong enough to weather any risks from patchy export performance, surveys showed on Monday.
Analysis: Germany sees itself as Europe's grown-up, children sullen
BERLIN (Reuters) - Buoyed by solid finances, roaring exports and low unemployment, Germany increasingly sees itself as the only grown-up in Europe, responsible for bringing wayward children into line to hold the family together.
J.C. Penney's home revamp is make or break for CEO Johnson
(Reuters) - It's crunch time for J.C. Penney Co Inc Chief Executive Ron Johnson.
Volkswagen to boost headcount by 9 percent by 2018: report
FRANKFURT (Reuters) - Volkswagen will boost its global headcount to 600,000 by 2018 from 550,000 as part of its aim to become the world's biggest carmaker, works council chief Bernd Osterloh told a German newspaper.
Insight: China's losing battle against state-backed polluters
SHANGHANG COUNTY, China (Reuters) - When Zijin Mining Group threatened to move its headquarters some 270 kms from its home county of Shanghang to Xiamen on China's southeast coast, a local Communist Party boss rushed to confront the company's chairman Chen Jinghe.
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