The Other Side of Life 24/7: Daily Investor Briefing: Wall St. closes with modest gains on...

Monday, July 15, 2013

Daily Investor Briefing: Wall St. closes with modest gains on...

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07/15/2013

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 St. closes with modest gains on earnings

NEW YORK (Reuters) - Solid results from Citigroup Inc helped the S&P 500 end higher for an eighth straight day, the longest such streak since mid-January, though weak retail sales figures limited the gains.

Modest rise in retail sales offers cautionary economic note

WASHINGTON (Reuters) - Retail sales rose less than expected in June, the latest sign of a slowdown in economic growth that offers a cautionary note to the Federal Reserve as it mulls scaling back its monetary stimulus.

Citigroup profit jumps 42 percent on stronger markets

(Reuters) - Citigroup Inc posted a 42 percent jump in quarterly profit as bond trading revenue gained and stronger home prices helped the bad mortgages on its books, underscoring the bank's recovery since the financial crisis.

Watchdog finds SEC did not properly vet contractors

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission did not properly vet as many as 70 contractors with possible criminal records, including one man who later assaulted his girlfriend in a lobby at SEC headquarters, the agency's internal watchdog has found.

Honeywell transmitter eyed in 787 fire probe: source

WASHINGTON (Reuters) - Investigators are looking at an emergency locator transmitter built by Honeywell International Inc as the possible cause of a fire on board a Boeing Co Dreamliner in London last week, according to a source familiar with the probe.

Navistar avoids proxy battle by giving Icahn, Rachesky more say

(Reuters) - Navistar International Corp signed a new deal giving activist investors Carl Icahn and Mark Rachesky one more seat on its board, in a move that staves off a proxy contest and gives management more time to turn around the struggling truck and engine maker.

Jurors picked in SEC fraud case against Goldman's Fabrice Tourre

NEW YORK (Reuters) - The trial of former Goldman Sachs Group Inc bond trader Fabrice Tourre began with the selection of five women and four men as jurors on Monday, in a case centering on alleged Wall Street wrongdoing during the financial crisis.

Loblaw bid for Shoppers would expand Weston family empire

TORONTO (Reuters) - The bid by Canada's largest grocer for its largest pharmacy chain is just the latest move by the Weston family, Canada's second-richest clan, to expand a food and clothing empire that began 131 years ago with a Toronto bread factory.

Fed's Tarullo says Glass-Steagall return not high on his list

WASHINGTON (Reuters) - A Federal Reserve official on Monday questioned the latest congressional plan to break up big banks, saying it is unclear whether such a move would prevent the next financial crisis.

Former HealthSouth CEO Scrushy's bribery conviction upheld

(Reuters) - A federal appeals court on Monday upheld the bribery conviction of HealthSouth Corp founder and former Chief Executive Richard Scrushy, rejecting his argument that new evidence of possible juror and judicial bias warranted a new trial.