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Wednesday, April 30, 2014

Daily Investor Briefing: Fed shows faith in U.S. economy with...

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04/30/2014
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
Fed shows faith in U.S. economy with bond-buying reduction
WASHINGTON (Reuters) - The Federal Reserve on Wednesday looked past a dismal reading on first quarter U.S. growth and gave a mostly upbeat assessment of the economy's prospects as it announced another cut in its massive bond-buying stimulus.
U.S. economy stalls in first-quarter, but fundamentals still sound
WASHINGTON (Reuters) - The U.S. economy barely grew in the first quarter as the severe winter hampered exports and led businesses to curtail investment spending, but activity already appears to be bouncing back.
Facebook launches mobile ad network to vie with Google, Twitter
SAN FRANCISCO (Reuters) - Facebook Inc rolled out a new service that it envisions will distribute ads across a network of mobile applications, opening the door to a new source of revenue for the Internet social network.
Exclusive: Curbing tax-driven business moves abroad a priority - U.S. Treasury
(Reuters) - The Obama administration is seeking ways to curb tax-dodging by U.S. businesses that reincorporate overseas, a U.S. Treasury official told Reuters on Wednesday, highlighting growing concern about deals known as "inversions."
Exclusive: Merck explores $15 billion-plus drug portfolio sale - sources
NEW YORK/LONDON (Reuters) - Merck & Co Inc is looking to sell a big portfolio of mature drugs that could fetch more than $15 billion, according to people familiar with the matter, as the U.S. drugmaker continues to streamline businesses to focus on high-growth areas.
U.S. government says it lost $11.2 billion on GM bailout
WASHINGTON (Reuters) - The U.S. government lost $11.2 billion on its bailout of General Motors Co, more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday.
CEO Barra leans on small circle of GM veterans
DETROIT (Reuters) - In the midst of General Motors Co's biggest crisis since bankruptcy, new Chief Executive Mary Barra is turning to an inner circle dominated by company "lifers," believing the team is up to handling a massive recall and reinvigorating the company without much outside help, former and current GM executives say.
Wall Street ends up as Fed upbeat on economy
NEW YORK (Reuters) - U.S. stocks rose on Wednesday, with the Dow Jones industrial average ending at a new closing high, as the Federal Reserve gave an upbeat view of the economy's prospects as it announced another cut to its bond-buying program.
UAW can still unionize Volkswagen Tennessee plant after failed drive: experts
DETROIT (Reuters) - The United Auto Workers still has several options to unionize Volkswagen AG's Tennessee car plant, labor law experts said on Wednesday, after it failed to win enough support and last week dropped its challenge to the election results.
GE eases ahead in race for Alstom power assets
PARIS (Reuters) - Cash-strapped French engineering group Alstom said on Wednesday it would explore a $16.9 billion offer from General Electric for its energy arm while leaving the door open to a rival bid from Germany's Siemens.
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