The Other Side of Life 24/7: Daily Investor Briefing: S&P advances to set new record in...

Friday, August 29, 2014

Daily Investor Briefing: S&P advances to set new record in...

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08/29/2014

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

S&P advances to set new record in quiet session

NEW YORK (Reuters) - U.S. stocks closed out a strong month on a quiet note on Friday, with the S&P 500 posting a modest gain to close at a new record as the latest in a string of positive data helped extend a rally that had been briefly threatened by overseas concerns.

U.S. consumer spending pauses, but rising confidence offers hope

WASHINGTON (Reuters) - U.S. consumer spending fell in July for the first time in six months, but confidence among households hit a seven-year high in August, suggesting the retrenchment would be temporary.

Exclusive: U.S. options exchanges craft rules to fend off turmoil

NEW YORK (Reuters) - A year after Goldman Sachs bungled a software upgrade and lost tens of millions of dollars from unintended trades, the 12 U.S. stock options exchanges have crafted new rules for dealing with erroneous transactions, according to draft documents seen by Reuters.

Oracle loses bid to restore $1.3 billion SAP verdict, could get new trial

(Reuters) - Oracle Corp failed to revive a $1.3 billion jury verdict in its long-running copyright dispute with German software company SAP SE as a U.S. appeals court said Oracle must choose to accept a lower amount or face a new trial.

Exclusive: Intel hires senior exec Faintuch from Qualcomm

SAN FRANCISCO (Reuters) - Chipmaker Intel Corp has hired Amir Faintuch, a senior executive from Qualcomm , to co-manage the development of the company's chips, an Intel spokesman said on Friday.

IMF board stands behind Lagarde over French probe

WASHINGTON (Reuters) - The International Monetary Fund's board on Friday stood behind the global lender's leader, Christine Lagarde, who is facing a criminal investigation in France tied to a political corruption probe dating from 2008.

U.S auto sales seen ending summer without a sizzle

DETROIT (Reuters) - U.S. auto industry sales in August will be about even with a year ago, not quite ending the summer in a sizzling fashion but still warm enough to continue the recovery from a recession now five years in the rear-view mirror.

AT&T sues Cox Communications for patent infringement

(Reuters) - AT&T is suing Cox Communications for infringing eight patents dealing with network quality after the regional cable provider ignored its complaints about the issue and made "billions" off of the technology, according to a new lawsuit.

Kraft issues voluntary recall of some American Singles cheese product

NEW YORK (Reuters) - Kraft Foods Group Inc said on Friday it is voluntarily recalling 7,691 cases of some varieties of its Kraft American Singles as a precautionary measure after a supplier failed to store an ingredient correctly.

Part of Espirito Santo empire may try to block sale of insurer

LISBON (Reuters) - Part of the troubled business empire of Portugal's Espirito Santo family said on Friday it may try to block the planned sale of an insurance company it once controlled, adding to opposition already expressed by a group of investors.