The Other Side of Life 24/7: 03/03/14

Monday, March 3, 2014

Daily Investor Briefing: U.S. factory, spending data hint at...

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03/3/2014

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. factory, spending data hint at improving economy

WASHINGTON (Reuters) - U.S. factory activity rebounded from an eight-month low last month and consumer spending increased more than expected in January, suggesting the economy was regaining some strength after abruptly slowing in recent months.

Wall Street closes lower on unrest in Ukraine

NEW YORK (Reuters) - U.S. stocks tumbled on Monday alongside other risky assets globally as Ukraine and Russia prepared for possible war after Russian President Vladimir Putin declared he had the right to invade his neighbor.

U.S. probes Citi over compliance with money laundering laws

(Reuters) - A federal grand jury is probing Citigroup Inc, including its Banamex USA affiliate, over compliance with the U.S. Bank Secrecy Act and regulations on money laundering, the company said.

Bill Gates reclaims top of Forbes billionaire list from Slim

(Reuters) - Bill Gates has returned to the top of Forbes magazine's annual list of the world's richest people, as rising stock markets swelled the ranks of billionaires, which included a record number of women.

U.S. auto sales flat, incentives could hit profit

DETROIT (Reuters) - U.S. auto sales in February finished even with the year-earlier period as hefty incentives to lure customers into dealerships late in the month could not overcome cold and snowy weather.

JPMorgan pays $400 million to settle with Syncora over toxic loans

NEW YORK (Reuters) - JPMorgan Chase & Co will pay $400 million to settle lawsuits brought by bond insurer Syncora Guarantee Inc over toxic mortgage-backed securities, according to the insurer.

RJ Reynolds considering bid for Lorillard: FT

(Reuters) - U.S. tobacco company RJ Reynolds is exploring a bid for rival Lorillard Inc , the Financial Times reported, citing people familiar with the situation.

U.S. regulators seeking data on banks' attempts to slim down

WASHINGTON (Reuters) - U.S. regulators are encouraging mega-banks to simplify their operations and they plan to compile data to track the financial firms' progress, an official with the U.S. Office of the Comptroller of the Currency (OCC) said on Monday.

With too few borrowers, Japan's regional banks are urged to merge

TOKYO (Reuters) - Japanese regulators are increasing the pressure on regional banks to consolidate, worried that shrinking populations outside the nation's major cities will leave lenders too weak to stand on their own.

U.S. aviation regulator seeks auto-throttle fix for Boeing 737s

WASHINGTON (Reuters) - U.S. aviation regulators on Monday proposed a fix for some Boeing 737 planes to ensure that a faulty altimeter does not cause the automatic throttle system to unexpectedly cut engine speed.