The Other Side of Life 24/7: Daily Investor Briefing: Wall Street rises on Greek bets,...

Tuesday, May 29, 2012

Daily Investor Briefing: Wall Street rises on Greek bets,...

Reuters » Daily Investor Update

05/29/2012

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 Street rises on Greek bets, Facebook falls 10 percent

NEW YORK (Reuters) - Stocks rose on Tuesday as signs Greece would stay in the euro zone were enough to spark buying in what has been a weak month for equities, while Facebook plumbed new lows on high volume.

Facebook shares plumb new depths, valuation questioned

SAN FRANCISCO (Reuters) - Facebook Inc shares slid below $29 to a new low on Tuesday as nervous investors fled the company's shares, concerned about the social network's long-term business prospects and an initial offering price that proved too rich.

U.S. home prices rise but consumer confidence cools

NEW YORK (Reuters) - U.S. home prices edged higher for the second month in a row in March as the housing recovery picked up traction, while gains in some of the hardest hit areas suggested the improvement was becoming more broad-based.

BlackBerry maker RIM hires bankers, warns of loss

TORONTO (Reuters) - Research In Motion Ltd on Tuesday said it expects to post an operating loss in the current quarter and has engaged bankers from JP Morgan and Royal Bank of Canada to assist in reviewing its business.

Family feud may disrupt Samsung succession plans

SEOUL (Reuters) - A family feud at Samsung Group, parent of the world's largest electronics company by revenue, could upset the smooth handover of control of a smartphones-to-ships conglomerate whose $234 billion annual sales are bigger than the economy of Singapore.

Gupta lawyer implies others leaked on P&G

NEW YORK (Reuters) - A number of people other than Rajat Gupta could have leaked confidential information about Procter & Gamble Co's sale of its Folgers coffee unit in 2008, Gupta's lawyer implied to the jury at his insider-trading trial on Tuesday.

Spain to brave markets on regions, banks funding

MADRID (Reuters) - Spain, battling a debt crisis that is shaking its government, banks and companies, will soon issue new bonds to fund ailing lenders and indebted regions despite borrowing costs nearing the 7 percent level that drove other states to seek a bailout.

NY pension fund urges no vote on Chesapeake directors

HOUSTON/NEW YORK (Reuters) - The head of New York's state pension fund urged shareholders of Chesapeake Energy Corp to withhold votes to re-elect two members of the natural gas producer's board.

Analysis: Investors turning to reinsurance for juiced returns

(Reuters) - Investors globally, from hedge funds to retirement systems, are looking to an obscure corner of the insurance industry to boost returns and avoid some of the swings that have plagued stock and bond markets in recent years.

BP to resume operations in Libya

ALGIERS (Reuters) - BP is to resume exploration activities in Libya that it suspended because of last year's uprising, re-starting a relationship which under ousted Libyan leader Muammar Gaddafi landed the firm in the centre of a political storm.