Daily Investor Briefing: Wall Street closes down on Fed...

	Click to View in Browser 06/24/2013 Wall Street closes down on Fed policy, but off lows NEW YORK (Reuters) - Stocks shed some of the day's losses on Monday as the bond market stabilized, but Wall Street was still down on concerns about the Federal Reserve's plans to reduce its monetary stimulus and on overnight losses in Chinese equity markets. Microsoft and Oracle join forces against smaller rivals in cloud SAN FRANCISCO/SEATTLE (Reuters) - Microsoft Corp and Oracle Corp on Monday announced a tie-up to give the once-fierce rivals a leg up against newer Web-based "cloud" computing companies chipping away at their traditional businesses. EU clears ICE's $8.2 billion takeover of NYSE Euronext without conditions BRUSSELS (Reuters) - The European Commission gave unconditional approval to IntercontinentalExchange (ICE) to buy NYSE Euronext for $8.2 billion on Monday, a deal that strengthens ICE's presence in the lucrative derivatives trading business. J.C. Penney to soon learn fate of its Martha Stewart home goods NEW YORK (Reuters) - J.C. Penney Co Inc will likely learn in August whether it can sell certain Martha Stewart-branded home goods it has been prevented from stocking due to a lawsuit by rival Macy's Inc . U.S. appeals court upholds conviction of Galleon's Rajaratnam (Reuters) - A federal appeals court on Monday upheld the insider trading conviction of Galleon Group hedge fund founder Raj Rajaratnam, rejecting his argument that wiretap evidence was used improperly to convict him. Exclusive: Apollo's EP Energy looking at IPO - sources NEW YORK (Reuters) - EP Energy LLC, the oil and gas company bought just last year by a private equity consortium led by Apollo Global Management LLC for $7.15 billion, is working with investment banks to prepare for an initial public offering as soon as this year, three people familiar with the matter said on Monday. Exclusive: A big Bridgewater fund is under the weather NEW YORK (Reuters) - A $70 billion portfolio managed by hedge fund titan Ray Dalio's Bridgewater Associates and widely held by many pension funds to survive stormy markets is emerging as a big loser in the recent selloff in global markets. Vodafone agrees $10 billion Kabel Deutschland deal LONDON/FRANKFURT (Reuters) - Vodafone has agreed to buy Germany's largest cable operator Kabel Deutschland for 7.7 billion euros ($10 billion), adding TV and fixed-line services to help defend against mounting competition in its most important market. New York City to audit Navigant billing practices (Reuters) - New York City Comptroller John Liu said he would audit the billing practices of consulting firm Navigant Consulting Inc, after a state commission found evidence of questionable billing practices and a "revolving door" relationship with state-owned utility Long Island Power Authority. Banks a priority for new UK competition watchdog LONDON (Reuters) - Britain's banking sector will be a top focus for the country's new competition watchdog, its chairman said on Monday, following a second call from lawmakers for wider customer choice. Related Video Techquity: Apple falls below $400, Google a Waze away Need to be discerning about allocating money: CEO Brady Related News Supreme Court's arbitration ruling puts consumers on notice Akre Fund focuses on value as market declines A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend