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Friday, May 30, 2014

Daily Investor Briefing: Wall St. wraps up fourth straight...

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05/30/2014
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
Wall St. wraps up fourth straight month of gains
NEW YORK (Reuters) - U.S. stocks closed out a fourth straight month of gains as the S&P 500 edged up to another record high on Friday after mixed economic data gave investors little incentive to buy equities.
U.S. consumer spending dips; inflation creeps up
WASHINGTON (Reuters) - U.S. consumer spending fell for the first time in a year in April after two months of solid gains, but the decline is likely temporary given a strengthening jobs market.
Valeant boosts $53.8 billion Allergan bid as Ackman opts for stock
(Reuters) - Valeant Pharmaceuticals International Inc said on Friday it would boost its takeover bid for Botox-maker Allergan Inc for the second time this week, contingent on the two sides negotiating.
Los Angeles sues JPMorgan, alleges discriminatory lending
(Reuters) - The City of Los Angeles has sued JPMorgan Chase & Co , accusing the largest U.S. bank of engaging in discriminatory mortgage lending practices that drove up foreclosures among minority borrowers.
Men's Wearhouse gets FTC nod to sew up Jos. A. Bank deal
WASHINGTON (Reuters) - U.S. antitrust officials on Friday gave the green light for the proposed merger of Men's Wearhouse Inc and Jos. A. Bank Clothiers Inc to move ahead, citing ample competition in the market for men's suits and tuxedo rentals.
Ex-Goldman director Gupta loses bid to stay out of prison
NEW YORK (Reuters) - Former Goldman Sachs Group Inc director Rajat Gupta will begin serving a two-year prison term on June 17 after a U.S. federal appeals court rejected his bid to stay free while he appeals his insider trading conviction.
Capital concerns hit BNP Paribas on report of $10 billion U.S. fine
PARIS/LONDON (Reuters) - Fears that a looming U.S. fine on BNP Paribas BNPP.PA could be big enough to force it to raise capital and restrict its dividends hit France's biggest bank on Friday, driving its shares sharply lower.
U.S. house price gains seen moderating over next few years: poll
WASHINGTON (Reuters) - U.S. house price rises will likely slow further over the next two years, curbed by tight lending standards, slow wage growth and a lack of first time buyers, a Reuters poll found.
ECB and BoE plan to revive EU securitization, boost investment
LONDON/FRANKFURT (Reuters) - The European Central Bank and the Bank of England set out proposals on Friday to resurrect the European Union's market for asset-backed securities and help the flow of credit to smaller businesses.
Siemens CEO tries to calm furore over job cuts
BERLIN/MUNICH (Reuters) - The chief executive of German conglomerate Siemens SIEGn.DE tried to calm a brewing storm over job cuts on Friday after he let slip at an investor conference in New York that his plan to restructure the company could put up to 11,600 staff at risk.
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