The Other Side of Life 24/7: Daily Investor Briefing: Wall Street sinks on commodities...

Monday, April 15, 2013

Daily Investor Briefing: Wall Street sinks on commodities...

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04/15/2013

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 sinks on commodities selloff, Boston blasts

NEW YORK (Reuters) - The S&P 500 posted its worst day in more than four months on Monday, as big drops in the price of gold and other commodities triggered a broad selloff in equities.

Exclusive: U.S. regulator to fault JPMorgan over Madoff accounts

(Reuters) - U.S. regulators plan to fault JPMorgan Chase & Co, which served as Bernie Madoff's main bank for two decades, for failing to conduct adequate due diligence and report suspicious activity, according to a person familiar with the matter.

Dish tries to trump SoftBank with $25.5 billion Sprint bid

(Reuters) - Dish Network Corp, the No. 2 U.S. satellite television provider, offered to buy Sprint Nextel Corp for $25.5 billion in cash and stock, a move that could thwart the proposed acquisition of Sprint by Japan's SoftBank Corp.

Citi profit rises 30 percent as investment banking grows

(Reuters) - Citigroup Inc said on Monday its first-quarter profit jumped 30 percent, a stronger-than-expected increase, as the No. 3 U.S. bank generated more money from underwriting stock issues and advising companies on mergers.

FAA orders inspection of Boeing 737 plane tails

(Reuters) - The Federal Aviation Administration (FAA) has ordered an inspection of more than 1,000 U.S.-registered Boeing 737 jets to examine a potentially faulty part on the plane tail, which it said could cause pilots to lose control of the aircraft if it failed.

Madoff trustee cannot block $410 million Merkin accord: judge

(Reuters) - The trustee seeking money for Bernard Madoff's victims was barred on Monday from blocking a $410 million settlement resolving New York state's claims against Wall Street hedge fund manager Ezra Merkin, who was accused of secretly steering client money to the swindler.

Broad risk flight; gold eyes worst two days since 1983

LONDON/NEW YORK (Reuters) - Gold headed for its biggest two-day drop in 30 years on Monday and oil, copper and grains prices also tumbled as investors fled most financial markets after disappointing Chinese economic data underscored global growth worries.

J.C. Penney borrows $850 million to boost inventory

(Reuters) - J.C. Penney Co Inc has borrowed $850 million from its $1.85 billion revolving credit facility to help buy inventory as the department store operator revamps its business strategy after a failed turnaround.

Thermo Fisher to buy Life Tech for $13.6 billion

NEW YORK (Reuters) - Thermo Fisher Scientific Inc on Monday agreed to buy Life Technologies Corp for $13.6 billion in a deal that would make it one of the top two companies in the hot field of genetic testing.

Exclusive: Bain nears $3 billion fundraising close - sources

NEW YORK (Reuters) - Bain Capital LLC is close to securing commitments from investors for about half the $6 billion target for its latest private equity fund, two people familiar with the matter said on Monday.