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Friday, April 12, 2013

Daily Investor Briefing: Wall Street ends down, but indexes...

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04/12/2013
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 ends down, but indexes gain for week
NEW YORK (Reuters) - Stocks closed lower on Friday, retreating from the previous session's record levels as financials dropped, though major indexes notched strong gains for the week.
Retail sales point to flagging economic momentum
WASHINGTON (Reuters) - Retail sales contracted in March for the second time in three months and consumer confidence tumbled in April, a sign tax hikes early this year stole momentum from the economy.
J.C. Penney gets interim victory in Macy's dispute
NEW YORK (Reuters) - A New York judge on Friday handed embattled J.C. Penney Co Inc an interim victory in its dispute with Macy's Inc over goods designed by Martha Stewart.
Ex-Credit Suisse trader pleads guilty in mortgage case
NEW YORK (Reuters) - A former Credit Suisse Group AG trader on Friday pleaded guilty to a conspiracy charge in a U.S. criminal case relating to the alleged inflation of subprime mortgage bond prices.
Euro ministers back 10 billion euro Cyprus bailout
DUBLIN (Reuters) - Euro zone finance ministers backed a 10 billion euro bailout for Cyprus on Friday and the European Commission said it would try to help the island's economy grow again with better use of EU structural funds.
U.S. again declines to name China currency manipulator
WASHINGTON (Reuters) - The Obama administration said on Friday that China's currency remained "significantly undervalued," but again stopped short of labeling the world's second-biggest economy a currency manipulator.
Goldman CEO Blankfein got 75 percent compensation boost in 2012
NEW YORK (Reuters) - Goldman Sachs Group Inc's board awarded Chief Executive Lloyd Blankfein a 75 percent increase in compensation, to $21 million, for 2012 - including pay, bonus and restricted stock award.
JPMorgan's main businesses lukewarm in first quarter
NEW YORK (Reuters) - JPMorgan Chase & Co posted higher first-quarter profit on Friday as it spent much less money on mortgage-related litigation, but most of its major businesses turned in tepid performances, and the bank's overall revenue declined.
Former Arthur Levitt adviser eyed for possible SEC post: sources
WASHINGTON/NEW YORK (Reuters) - Securities and Exchange Commission Chairman Mary Jo White is eyeing a former adviser to ex-SEC Chairman Arthur Levitt as a potential contender for a key post in the division that oversees financial markets, three people familiar with the matter told Reuters.
Judge denies $20 million severance to outgoing AMR chief
(Reuters) - A judge has rejected a proposed severance package of nearly $20 million for Thomas Horton, the chairman and chief executive officer of American Airlines parent AMR Corp, saying the payout was not allowed under federal bankruptcy law.
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