The Other Side of Life 24/7: Daily Investor Briefing: Wall Street slips after six-day run;...

Monday, August 13, 2012

Daily Investor Briefing: Wall Street slips after six-day run;...

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08/13/2012

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 slips after six-day run; Japan data weighs

NEW YORK (Reuters) - Stocks ended slightly lower on Monday as fatigue set in after a six-day rally and disappointing Japanese growth data provided a fresh reminder of the headwinds facing the global economy.

Tesoro eyes West Coast empire with BP refinery deal

(Reuters) - Tesoro Corp moved on Monday to create the biggest U.S. refining empire in the Pacific Basin with a $2.5 billion deal to buy BP's Carson plant in the isolated California market.

Google to cut 4,000 Motorola Mobility jobs, shares rise

(Reuters) - Google Inc will slash 20 percent of the workforce of Motorola Mobility in the Internet search giant's largest job cuts ever as it moves to make more smartphones and fewer simple mobiles.

Apple expert shines light on Samsung sales in U.S.

SAN JOSE (Reuters) - Apple Inc is claiming that more than a quarter of Samsung Electronics' $30.4 billion in U.S. smartphone and tablet sales result from copying of the iPhone and iPad or infringe on other patents, a damages expert for the U.S. company said on Monday.

Groupon quarterly revenue misses expectations

(Reuters) - Groupon Inc reported second-quarter revenue that missed Wall Street expectations on Monday, sending shares of the world's largest daily deal website down 12 percent.

Sears says to proceed with plan to spin off some stores

(Reuters) - Retailer Sears Holdings Inc said on Monday it has decided to move ahead with plans to spin off its Sears Hometown and Outlet businesses and certain hardware stores as a separate company, and expects to raise $346.5 million from the deal.

World powers eye emergency food meeting; action doubted

PARIS/LONDON (Reuters) - Leading members of the Group of 20 nations are prepared to trigger an emergency meeting to address soaring grain prices caused by the worst U.S. drought in more than half a century and poor crops from the Black Sea bread basket.

Julius Baer bulks up in Asia with Merrill deal

ZURICH (Reuters) - Swiss private bank Julius Baer is to buy Bank of America Merrill Lynch's overseas wealth-management business for up to 860 million Swiss francs ($882 million), getting a huge boost in Asian growth markets.

Senior Merkel ally sends stark warning to Greece

BERLIN (Reuters) - A senior member of Chancellor Angela Merkel's party issued a stark warning to Greece on Monday, saying Germany would not hesitate to veto further aid to the country if there were any signs it was not meeting the conditions of its bailout.

US STOCKS-Wall St slips after six-day run; Japan data weighs

* Japan's gross domestic product weaker than expected * CBOE VIX closes at lowest level in more than 5 yrs * Tesoro eyes West Coast empire with BP refinery deal;shares jump * Indexes: Dow falls 0.3 pct; S&P down 0.1 pct; Nasdaq up0.1 pct By Angela Moon NEW YORK, Aug 13 (Reuters) - U.S. stocks ended slightlylower o n M onday as fatigue set in after a six-day rally anddisappointing Japanese growth data provided a fresh reminder ofthe headwinds facing the global economy.