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Friday, May 16, 2014

Daily Investor Briefing: GM to pay maximum U.S. fine for...

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05/16/2014
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
GM to pay maximum U.S. fine for delaying response to faulty ignitions
WASHINGTON (Reuters) - General Motors Co was slapped on Friday with a $35 million U.S. fine for its delayed response to an ignition switch defect in millions of vehicles.
At big-ticket dinners, a blunt Bernanke sounds theme of low rates
NEW YORK/BOSTON (Reuters) - In a series of quarter-million-dollar dinners with wealthy private investors, Ben Bernanke has been clearer than he ever was as chairman of the Federal Reserve on his expectations that easy-money policies and below-normal interest rates are here for a long time to come, according to some of those in attendance.
Wall St. ends up in late-day bounce with small caps
NEW YORK (Reuters) - U.S. stocks closed higher on Friday in a late rebound as small-cap names edged up after recent weakness and consumer discretionary shares rose.
Demand for rental units buoys housing starts
WASHINGTON (Reuters) - U.S. housing starts jumped in April and building permits hit their highest level in nearly six years, offering hope the troubled housing market could be stabilizing.
SAC's Steinberg gets 3-1/2 years prison for insider trading
NEW YORK (Reuters) - Michael Steinberg, a portfolio manager at Steven A. Cohen's SAC Capital Advisors hedge fund, was sentenced on Friday to 3-1/2 years in prison for insider trading.
Sweden fights back as Pfizer move on Astra threatens jobs
STOCKHOLM (Reuters) - The Swedish government launched a fightback on Friday against U.S. drugmaker Pfizer's proposed takeover of AstraZeneca , which has half its roots and more than 5,000 staff in Sweden, highlighting the risks to jobs and science.
Abbott to buy Latin American drugmaker CFR in $2.9 billion deal
(Reuters) - Abbott Laboratories said on Friday it would acquire Chile's CFR Pharmaceuticals SA in a $2.9 billion deal that will more than double its branded generic drugs business in the fast-growing Latin American market.
EU may challenge $8.7 billion U.S. tax breaks in Boeing-Airbus trade dispute: sources
PARIS (Reuters) - The European Union is considering raising the pressure on the United States in the world's largest trade dispute by challenging tax breaks that encouraged planemaker Boeing to keep production of its latest jet in Washington state, people familiar with the matter said on Friday.
Legal claims over RBS cash call near 4 billion pounds
LONDON (Reuters) - Hundreds more investors have joined an unprecedented group legal action against Royal Bank of Scotland, alleging they were misled during an emergency cash call in 2008, and are claiming damages of around 4 billion pounds ($6.7 billion).
Fed's Bullard says inflation, job goals 'within sight'
LITTLE ROCK (Reuters) - The U.S. economy is within sight of the Federal Reserve's inflation and employment goals, and is expected to grow at a "robust" pace for the rest of the year, St. Louis Federal Reserve Bank President James Bullard said on Friday.
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