The Other Side of Life 24/7: Daily Investor Briefing: Upbeat data brighten economic outlook...

Tuesday, June 25, 2013

Daily Investor Briefing: Upbeat data brighten economic outlook...

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06/25/2013

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

Upbeat data brighten economic outlook

WASHINGTON (Reuters) - The economy appears to be gaining momentum with data showing strong gains in business spending plans last month and the largest annual rise in house prices in seven years in April.

Strong data trigger Wall St. rebound

NEW YORK (Reuters) - Stocks rose the most in nearly two weeks on Tuesday after strong housing and durable goods data reassured investors worried about the Federal Reserve's plans to wind down its economic stimulus.

Former Oregon politician pleads guilty to Facebook IPO fraud

NEW YORK (Reuters) - Former Oregon gubernatorial candidate Craig Berkman pleaded guilty on Tuesday to defrauding investors by persuading them he could use their money to buy shares of Facebook Inc before the company's May 2012 initial public offering.

CFTC likely to charge MF Global execs beyond Corzine: legal experts

NEW YORK (Reuters) - The lawsuit that the U.S. Commodity Futures Trading Commission is considering filing against MF Global chief executive Jon Corzine would require the CFTC also to charge other former MF Global employees, legal experts said on Tuesday.

How debt woes brought Batista's Brazil empire to the brink

SAO JOÃO DA BARRA, Brazil (Reuters) - As Brazilian billionaire Eike Batista's EBX industrial empire crumbles, it increasingly resembles his most visible accomplishment, the Port of Açu.

Sprint shareholders give thumbs up to SoftBank deal

OVERLAND PARK, Kansas (Reuters) - Shareholders of Sprint Nextel Corp voted on Tuesday in favor of a sweetened takeover offer from SoftBank Corp , ending a contentious takeover battle for the No. 3 U.S. wireless service provider.

U.S. hedge fund Scout steps up pressure on Tim Hortons

TORONTO (Reuters) - Scout Capital Management, a U.S. hedge fund, said on Tuesday it is urging Canadian coffee and doughnut chain Tim Hortons to increase its debt levels in order to fund a share buyback, measures that Scout say should help drive up Tim Horton's share price by as much as 100 percent from current levels.

Lebanese bank to pay U.S. $102 million in money-laundering case

NEW YORK (Reuters) - A Lebanese bank accused of being at the center of global money-laundering schemes tied to the militant group Hezbollah has agreed to pay a $102 million settlement, U.S. prosecutors in New York said Tuesday.

World Bank to help developing nations cope with rising rates: Kim

WASHINGTON (Reuters) - The head of the World Bank said on Tuesday that the global lender stands ready to help developing countries cope with a rise in interest rates as a result of the U.S. Federal Reserve's plan to scale back its stimulus program.

UBS hires insurance product manager from Morgan Stanley

(Reuters) - Swiss bank UBS AG's U.S. brokerage said on Tuesday it hired the former head of insurance product management at Morgan Stanley Wealth Management to run the firm's overall insurance platform in the Americas.