The Other Side of Life 24/7: 06/04/14

Wednesday, June 4, 2014

Daily Investor Briefing: S&P 500 sets record again on strong...

Click to View in Browser

06/4/2014

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 500 sets record again on strong services sector growth data

NEW YORK (Reuters) - The S&P 500 ended at a record for the fourth time in five sessions on Wednesday, led by gains in the technology sector, as investors brushed off weaker-than-expected labor market data and focused on an acceleration in services-sector growth.

Economy on solid ground despite cooler hiring

WASHINGTON (Reuters) - U.S. companies hired far fewer workers than expected in May, but an acceleration in services sector growth supported views the economy was regaining strength after sagging early this year.

U.S. appeals court voids judge's rejection of SEC-Citigroup accord

NEW YORK/WASHINGTON (Reuters) - A federal appeals court on Wednesday handed the U.S. Securities and Exchange Commission a big victory by voiding a judge's pathbreaking decision to reject the regulator's $285 million fraud settlement with Citigroup Inc .

Hollande to raise possible 'disproportionate' BNP fine with Obama

PARIS (Reuters) - French President Francois Hollande said on Wednesday he will raise concerns about a possible $10 billion-plus U.S. fine on BNP Paribas BNPP.PA that he considers "disproportionate" with his U.S. counterpart Barack Obama.

GM to release findings of internal probe of bad switch Thursday

DETROIT (Reuters) - General Motors Co will hold a news conference on Thursday at which it is expected to release the findings of the company's internal probe into why it took so long to discover a defective ignition switch linked to at least 13 deaths.

U.S. mortgage applications fall in latest week: MBA

NEW YORK (Reuters) - Applications for U.S. home mortgages declined last week as both refinancing and purchase applications decreased, an industry group said on Wednesday.

Fed may shun global risk rules banks spent billions to meet

NEW YORK/WASHINGTON (Reuters) - The Federal Reserve may scrap elements of international measures aimed at assessing bank health in favor of imposing its own rules, frustrating bankers who have spent billions of dollars retooling their books to meet global standards.

U.S. Senate adjusts capital rules for insurers

WASHINGTON (Reuters) - The U.S. Senate has approved a bill tweaking the 2010 Dodd-Frank law's treatment of insurers, a rare adjustment to the Wall Street reform law that had been sought by the industry.

Japan's Dai-ichi Life agrees to buy Protective Life for $5.7 billion

TOKYO (Reuters) - Japan's Dai-ichi Life Insurance Co has agreed to buy U.S. peer Protective Life for $5.7 billion, the largest acquisition by a Japanese insurer, displaying its determination to grow overseas to counter weak prospects at home.

Walmart's 'Made in USA' push exposes strains of manufacturing rebirth

(Reuters) - When Walmart pledged last year to buy an extra $250 billion in U.S.-made goods over the next decade, it appeared to be just what was needed to help move America's putative manufacturing renaissance from rhetoric to reality.