The Other Side of Life 24/7: Daily Investor Briefing: Wall Street ends higher; S&P, Nasdaq...

Friday, March 28, 2014

Daily Investor Briefing: Wall Street ends higher; S&P, Nasdaq...

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03/28/2014

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 ends higher; S&P, Nasdaq off for the week

NEW YORK (Reuters) - U.S. stocks ended up on Friday but off their session highs as a late afternoon selloff in the biotechnology sector weighed on the overall market.

U.S. consumers lift spending, but sentiment slips

WASHINGTON (Reuters) - U.S. consumers stepped up spending a bit in February as incomes increased for a second straight month, offering hope the economy was regaining its footing after being slammed by an unusually cold winter.

PwC is sued for $1 billion over MF Global collapse

NEW YORK (Reuters) - The administrator of MF Global Holdings Ltd's bankruptcy plan on Friday sued the auditor PricewaterhouseCoopers for at least $1 billion over its advice on a $6.3 billion European sovereign debt investment that helped fuel the brokerage's rapid demise.

Fed's George wants end to zero rates, does not say when

KANSAS CITY, Missouri (Reuters) - A top Federal Reserve official who has often warned of the risks of keeping U.S. interest rates too low for too long said on Friday she wants to see how winding down the Fed's massive bond-buying stimulus goes before setting out any path for rate hikes.

SEC says shuts cloud computing scam targeting Asians, Hispanics

(Reuters) - The U.S. Securities and Exchange Commission on Friday said it has shut down a worldwide pyramid scheme that falsely promised fast gains to tens of thousands of Asian-American, Hispanic and foreign investors from cloud computing services.

U.S. safety regulators close investigation into Tesla fires

(Reuters) - U.S. safety regulators on Friday said they had closed an investigation into several fires in Tesla Model S electric sports cars after determining the incidents were not likely to become a trend, which sent the company's shares up as much as 4.5 percent.

Ford investing $500 million to make new engine at Ohio plant

(Reuters) - Ford Motor Co will spend $500 million and create 300 jobs to upgrade an Ohio engine plant to make the new 2.7-liter six-cylinder EcoBoost engine for its best-selling F-150 pickup trucks, the company said on Friday.

GM stops selling some Cruze small cars, offering no reason

DETROIT (Reuters) - General Motors Co said on Friday it had told its dealers to stop selling certain Chevrolet Cruze small cars without saying why, in another blow to a company already facing a crisis over defective ignition switches linked to at least 12 deaths.

French watchdog calls for more transparent SFR bid talks

PARIS (Reuters) - French market regulator AMF has asked Vivendi, cable firm Numericable, its parent Altice and rival bidder Bouygues for more transparency in their talks over a takeover of Vivendi's telecom unit SFR.

Former Vatican bank head's lawyers threaten to sue to clear name

VATICAN CITY (Reuters) - In a new blow for the troubled Vatican bank, lawyers for its former head who was abruptly fired in 2012 threatened legal action on Friday to clear his name and show that he was unfairly dismissed.