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Wednesday, June 25, 2014

Daily Investor Briefing: U.S. economy collapses in first...

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06/25/2014
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
U.S. economy collapses in first quarter, but growing again
WASHINGTON (Reuters) - The U.S. economy contracted at a much steeper pace in the first quarter than previously estimated, turning in one of its worst-ever non-recession performances, but growth already appears to have rebounded strongly.
Wall Street gains after court ruling favors broadcasters
NEW YORK (Reuters) - U.S. stock indexes rose on Wednesday after a Supreme Court decision boosted the shares of major broadcasters and as drugmakers' stocks rallied.
GM says other defective ignition switch made in China
DETROIT (Reuters) - General Motors Co said a defective ignition switch linked to the recall of almost 3.4 million cars was made in China, where another car maker discovered a problem part earlier this year.
Exclusive: Paulson & Co amasses large stake in Allergan: sources
New York (Reuters) - Hedge fund Paulson & Co has amassed a large stake in Allergan Inc AGN.N of more than 6 million shares and supports a deal between the Botox maker and Valeant Pharmaceuticals Inc VRX.TO, people familiar with the matter said on Wednesday.
Exclusive: Senator warns on possible Walgreen overseas tax deal
WASHINGTON (Reuters) - The senior U.S. senator from Illinois said on Wednesday he hopes that Walgreen Co, the major drugstore chain based in his state, will not relocate its tax home base to Switzerland, as some of the company's investors favor.
Big broadcasters vanquish upstart Aereo at U.S. Supreme Court
WASHINGTON (Reuters) - Broadcast and cable TV are not dead yet.
Closing Opel Bochum Plant will cost $866 million: GM President
LONDON (Reuters) - The closure of Opel's Bochum factory in Germany will cost a total $866 million (635 million euros), the president of parent company General Motors Dan Ammann told Reuters in an interview in London on Wednesday.
U.S. retailers look to limit pesticides to help honeybees
(Reuters) - Home Depot and other U.S. companies are working to eliminate or limit use of a type of pesticide suspected of helping cause dramatic declines in honeybee populations needed to pollinate key American crops, officials said on Wednesday.
New York AG to file fraud suit against Barclays: source
NEW YORK (Reuters) - The New York Attorney General is set to file a securities fraud lawsuit against Barclays PLC for misrepresenting the safety of its U.S.-based alternative trading system, or "dark pool," to investors, according to a source.
Exclusive: Virgin America flight attendants to hold union vote
SEATTLE (Reuters) - Flight attendants at Virgin America are due to begin voting next month on whether to join a union, which would be the first at the California-based airline.
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