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Friday, May 9, 2014

Daily Investor Briefing: Battle for control destroyed...

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05/9/2014
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
Battle for control destroyed $35-billion Omnicom-Publicis merger
LONDON/NEW YORK/PARIS (Reuters) - The $35-billion merger of U.S.-based Omnicom and France's Publicis collapsed on Friday after a battle for control destroyed plans to create the world's largest advertising agency.
Dow closes at a record high, buoyed by IBM
NEW YORK (Reuters) - The Dow ended at a record high on Friday, boosted by shares of IBM , while a rebound in high-growth momentum names helped the broader market.
U.S. Postal Service loss hits $1.9 billion; package volume up
WASHINGTON (Reuters) - The United States Postal Service ended its second quarter with a net loss of $1.9 billion as first-class mail volume continued to tumble and lawmakers remained at odds over providing any financial relief, the agency said on Friday.
Oracle wins copyright ruling against Google over Android
SAN FRANCISCO/WASHINGTON (Reuters) - Oracle Corp won a legal victory against Google Inc on Friday as a U.S. appeals court decided Oracle could copyright parts of the Java programming language, which Google used to design its Android smartphone operating system.
Chrysler recalls 780,477 minivans for possible overheating switch
DETROIT (Reuters) - Fiat Chrysler Automobiles' Chrysler unit said on Friday it was recalling an estimated 780,477 minivans after reports of overheating, including some fires, in third-row power window vent switches.
Alcatel focused on revamp, CEO says of Nokia tie-up talk
PARIS (Reuters) - Alcatel Lucent is focused on its cost saving and repositioning plan and not on industry consolidation, its chief executive said in a newspaper interview after rumors this week of a tie-up with Finland's Nokia.
Global business tax clamp-down could sting U.S.: IRS official
WASHINGTON (Reuters) - Tighter enforcement of corporate tax laws by other countries could be a problem for the United States if it means businesses pay more tax to foreign governments and cross-border disputes increase, a senior U.S. tax official said on Friday.
U.S. judge says Wal-Mart should face lawsuit over alleged Mexico bribery
(Reuters) - A U.S. judge said Wal-Mart Stores Inc does not deserve dismissal of a lawsuit claiming it defrauded shareholders by concealing suspected corruption at its Mexico operations, even after learning that a damaging media report detailing alleged bribery was being prepared.
Heineken says it is investing 500 million euros a year in Africa
ABUJA (Reuters) - Heineken plans capital expenditure of 500 million euros ($690 million) a year in Africa over the next few years to maintain sales growth, a senior executive at the world's third largest brewer told Reuters on Friday.
Spain's Repsol sells package of Argentine bonds for $2.8 billion
MADRID (Reuters) - Spanish oil major Repsol has sold a package of Argentine BONAR24 sovereign bonds to JP Morgan for $2.8 billion, the company said in a statement on Friday.
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