The Other Side of Life 24/7: Daily Investor Briefing: Wall Street ends flat in light session...

Tuesday, August 28, 2012

Daily Investor Briefing: Wall Street ends flat in light session...

Click to View in Browser

08/28/2012

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 ends flat in light session

NEW YORK (Reuters) - Stocks ended flat in another day of scarce activity on Tuesday after mixed economic data and as investors focused on an upcoming speech by Federal Reserve Chairman Ben Bernanke.

Home prices gain again but consumer mood cools

NEW YORK (Reuters) - Home prices rose for the fifth consecutive month in June, a fresh sign of improvement as the recovery in the housing market picks up steam.

G7 says monitoring high oil prices, ready to act to ensure supply

WASHINGTON (Reuters) - Group of Seven finance ministers on Tuesday urged oil producing countries to increase their output to meet demand, and warned they were ready to sanction a release from strategic reserves to lean against elevated oil prices that could hurt global growth.

Home prices gain for fifth month in June: S&P

NEW YORK (Reuters) - Home prices rose more than expected in June, the fifth month in a row of gains in a fresh sign of improvement in the housing market, a closely watched survey showed on Tuesday.

Spanish recession darkens as country mulls bailout

MADRID (Reuters) - The Spanish economy is falling deeper into recession and depositors are pulling their money out of the banks, figures published on Tuesday showed, while the country's most economically important region, Catalonia, said it needed a major rescue from Madrid.

GM sees Cadillac near U.S. luxury car market top soon

BIRMINGHAM, Michigan (Reuters) - General Motors Co's top Cadillac executive said the brand should be challenging foreign automakers for the top spot in U.S. luxury auto sales in two years, a position it has not held in 15 years.

German leader looks to reassure Chinese on euro

BERLIN (Reuters) - Germany's Angela Merkel makes her second trip to China in half a year this week, hoping to strengthen booming trade ties and obtain assurances from Beijing that it will support the fragile euro zone by buying the bonds of its stricken southern members.

Hong Kong regulator takes Ernst & Young to court for work papers

HONG KONG/SINGAPORE (Reuters) - Hong Kong's securities regulator, in an unprecedented move, took Ernst & Young to court after the audit giant failed to turn over accounting records related to a former China-based client.

SEC charges eight men with insider trading around 2009 Sanofi deal

(Reuters) - Securities regulators on Tuesday charged eight people with illegally trading on inside information in 2009 about French pharmaceutical company Sanofi's plan to buy a Tennessee-based company that made allergy medicine and other products.

Brazil judges uphold Chevron, Transocean operating ban

RIO DE JANEIRO (Reuters) - An injunction banning No. 2 U.S. oil company Chevron Corp and its drilling contractor Transocean Ltd from operating in Brazil while charges over last November's oil spill are considered was upheld by a panel of three federal judges on Tuesday.