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Wednesday, April 9, 2014

Daily Investor Briefing: Wall Street ends sharply higher after...

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04/9/2014
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
Wall Street ends sharply higher after Fed minutes
NEW YORK (Reuters) - U.S. stocks finished sharply higher on Wednesday after minutes from the Federal Reserve's latest policy meeting showed a more supportive central bank than previously expected.
Fed officials fretted about hawkish 'dots' forecasts: minutes
WASHINGTON/SAN FRANCISCO (Reuters) - Federal Reserve policymakers fretted last month that investors would overreact to published forecasts that suggested a more aggressive cycle of interest rate increases was coming down the pike than they planned.
BofA to pay $727 million to consumers over credit card practices
WASHINGTON (Reuters) - Bank of America agreed to pay nearly $800 million in fines and restitution to settle allegations of deceptive marketing and unfair billing involving credit card products, U.S. regulators said on Wednesday.
Energy firms to Fed: Hands off banks' commodity trading
NEW YORK (Reuters) - Energy companies are mounting a last-ditch effort to prevent the Federal Reserve from cracking down on physical commodity trading by major Wall Street banks, saying more restriction may further damage liquidity and raise hedging costs.
HP pays $108 million to settle foreign bribery probes
SAN FRANCISCO/WASHINGTON (Reuters) - Hewlett-Packard will pay $108 million and one of its subsidiaries will plead guilty to bribery charges over its role in a scheme to secure a contract with a Russian government office, the Justice Department said on Wednesday.
Fannie, Freddie shareholders lobby against U.S. housing reform bill
WASHINGTON (Reuters) - A coalition of investors in Fannie Mae and Freddie Mac on Wednesday launched an effort to stop Congress from moving ahead with a U.S. housing finance reform bill, arguing it would deny them a fair share in any remaining value in the two companies.
Los Angeles should adopt Warren Buffett pension formula: report
(Reuters) - Los Angeles, faced with nearly $10 billion in unfunded pension and retirement liabilities, should adopt the pension formula used by investor Warren Buffett at Berkshire Hathaway Inc to manage the city's growing retirement costs, a report recommended on Wednesday.
P&G selling pet food brands to Mars for $2.9 billion
(Reuters) - Procter & Gamble Co is selling the bulk of its pet food business to Mars Inc for $2.9 billion to focus more on its personal care and cleaning brands, the companies said on Wednesday.
Fairfax's Watsa says BlackBerry a good long-term investment
TORONTO (Reuters) - Struggling smartphone maker BlackBerry Ltd is a good long-term investment that is being unfairly punished by the stock market, the chief executive of the company's top shareholder said on Wednesday.
U.S. lawmakers press Comcast on Time Warner Cable merger
WASHINGTON (Reuters) - U.S. lawmakers on Wednesday sought reassurances from Comcast Corp that merging with Time Warner Cable Inc would not result in higher prices or too much power over what Americans watch on TV and online.
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