The Other Side of Life 24/7: Daily Investor Briefing: Wall Street ends lower; S&P 500 in...

Monday, April 7, 2014

Daily Investor Briefing: Wall Street ends lower; S&P 500 in...

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04/7/2014

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 lower; S&P 500 in biggest three-day drop since January

NEW YORK (Reuters) - U.S. stocks fell on Monday with the S&P 500 posting its biggest three-day drop in two months, as investors bid down Internet stocks and rotated into defensive names to protect against further declines.

Safety group calls for U.S. probe of Chevy Impala air bags

WASHINGTON (Reuters) - General Motors , which has recalled 2.6 million cars for faulty ignition switches that caused air bags to deactivate, may also have a defect in air bags in 2003 to 2010 Chevrolet Impalas, an auto safety watchdog group said on Monday.

Huang's tale: from Walmart cashier to labor leader in China

DENGFENG, China (Reuters) - Huang Xingguo took a job as a cashier at a new Walmart store in his hometown in southern China for a steady paycheck and the prospect of upward mobility after a string of sales jobs and a run as a day trader.

Fed gives banks two more years to shed CLOs under Volcker

WASHINGTON (Reuters) - The U.S. Federal Reserve will give banks two more years to divest collateralized loan obligations (CLOs) that fall under the Volcker rule, which bans banks from making a range of risky investments.

Comcast, Time Warner executives to face critic at merger hearing

WASHINGTON (Reuters) - Comcast Corp and Time Warner Cable Inc executives will face one of the toughest critics of their proposed merger when they go before a U.S. Senate panel this week.

U.S. warns China over currency depreciation

WASHINGTON (Reuters) - The United States warned Beijing on Monday that the recent depreciation of the Chinese currency could raise "serious concerns" if it signaled a policy shift away from allowing market-determined exchange rates.

Bank of America, QBE to settle insurance lawsuit for $228 million

(Reuters) - Bank of America and QBE Insurance Corp have agreed to pay $228 million to settle claims that they engaged in a kickback scheme inflating the cost of insurance that homeowners were forced to buy, according to a court filing.

U.S. consumer credit rises, likely boosted by student loans

WASHINGTON (Reuters) - U.S. consumer credit rose more than expected in February, likely reflecting a surge in demand for student and automobile loans.

Boeing cuts final C-17 output by three jets, ends production early

NEW YORK (Reuters) - Boeing Co will produce three fewer of its famed C-17 cargo-carrying military transport planes than expected as it closes the production line, reflecting further decline in demand for the aircraft, the company said on Monday.

Holcim, Lafarge agree to merger to create cement giant

PARIS/ZURICH (Reuters) - Holcim of Switzerland unveiled a deal to buy France's Lafarge on Monday to create the world's biggest cement maker, with $44 billion of annual sales, and launch asset sales worldwide to steer it over antitrust hurdles.