The Other Side of Life 24/7: Daily Investor Briefing: First quarter GDP revised slightly...

Thursday, May 30, 2013

Daily Investor Briefing: First quarter GDP revised slightly...

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05/30/2013

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

First quarter GDP revised slightly lower; austerity bites

WASHINGTON (Reuters) - A drop in government spending dragged more on the U.S. economy than initially thought in the first three months of the year, although consumer spending looked relatively resilient to Washington's austerity drive.

Wall Street ends up as Fed stimulus seen intact

NEW YORK (Reuters) - Stocks rebounded on Thursday on tepid economic data that eased concerns the Federal Reserve would begin to gradually decrease its policies to stimulate growth.

Analysis: Dividend stocks lose shine as U.S. bond yields rise

NEW YORK (Reuters) - As the S&P 500 stormed to a gain of more than 16 percent for the first five months of the year, the run was fueled by investors searching for yield.

With big-name backers, Chinese firm eyes Smithfield's know-how, brands

SHANGHAI/BEIJING (Reuters) - In three decades, Wan Long has turned Shuanghui International Holdings from a small, loss-making meat processor into China's largest, and is making his country's biggest takeover of a U.S. company - the $4.7 billion acquisition of Smithfield Foods Inc , the world's leading pork producer.

Crest urges Clearwire ditch Sprint deal after Dish bid

NEW YORK (Reuters) - Crest Financial, one of the biggest minority shareholders in Clearwire Corp, on Thursday urged the wireless company to recommend against Sprint Nextel Corp's buyout offer after Dish Network Corp made a counter bid.

Guess' profit tops Street estimates; shares rise

(Reuters) - Apparel retailer Guess Inc reported a better-than-expected quarterly profit, helped by a 10 percent rise in sales in Asia.

AIG drops a lawsuit versus NY Fed over Maiden Lane: filing

(Reuters) - American International Group Inc has agreed to drop litigation against the Federal Reserve Bank of New York over who has the right to sue over losses suffered by the insurer on residential mortgage-related securities.

Analysis: Total CEO safe as investors prioritize profits over Iran bribery case

PARIS (Reuters) - The colorful boss of Total is unlikely to be felled by demands he stand trial over alleged bribes to Iran as Christophe de Margerie enters a crucial phase of his high-stakes turnaround plan for the oil firm, with no clear successors.

U.S. to loosen sanctions on Iran for mobile phones, gadgets

WASHINGTON (Reuters) - The United States was set to relax sanctions on Iran on Thursday to allow American companies to sell mobile phones, software and other technology used for personal communications to Iranians, two U.S. officials said.

Exclusive: Europe plans major scaling back of financial trading tax

BRUSSELS (Reuters) - European countries planning a tax on financial transactions are set to drastically scale back the levy, cutting the charge by as much as 90 percent and delaying its full roll-out for years, in what would be a major victory for banks.