Daily Investor Briefing: U.S. economy collapses in first...

	Click to View in Browser 06/25/2014 U.S. economy collapses in first quarter, but growing again WASHINGTON (Reuters) - The U.S. economy contracted at a much steeper pace in the first quarter than previously estimated, turning in one of its worst-ever non-recession performances, but growth already appears to have rebounded strongly. Wall Street gains after court ruling favors broadcasters NEW YORK (Reuters) - U.S. stock indexes rose on Wednesday after a Supreme Court decision boosted the shares of major broadcasters and as drugmakers' stocks rallied. GM says other defective ignition switch made in China DETROIT (Reuters) - General Motors Co said a defective ignition switch linked to the recall of almost 3.4 million cars was made in China, where another car maker discovered a problem part earlier this year. Exclusive: Paulson & Co amasses large stake in Allergan: sources New York (Reuters) - Hedge fund Paulson & Co has amassed a large stake in Allergan Inc AGN.N of more than 6 million shares and supports a deal between the Botox maker and Valeant Pharmaceuticals Inc VRX.TO, people familiar with the matter said on Wednesday. Exclusive: Senator warns on possible Walgreen overseas tax deal WASHINGTON (Reuters) - The senior U.S. senator from Illinois said on Wednesday he hopes that Walgreen Co, the major drugstore chain based in his state, will not relocate its tax home base to Switzerland, as some of the company's investors favor. Big broadcasters vanquish upstart Aereo at U.S. Supreme Court WASHINGTON (Reuters) - Broadcast and cable TV are not dead yet. Closing Opel Bochum Plant will cost $866 million: GM President LONDON (Reuters) - The closure of Opel's Bochum factory in Germany will cost a total $866 million (635 million euros), the president of parent company General Motors Dan Ammann told Reuters in an interview in London on Wednesday. U.S. retailers look to limit pesticides to help honeybees (Reuters) - Home Depot and other U.S. companies are working to eliminate or limit use of a type of pesticide suspected of helping cause dramatic declines in honeybee populations needed to pollinate key American crops, officials said on Wednesday. New York AG to file fraud suit against Barclays: source NEW YORK (Reuters) - The New York Attorney General is set to file a securities fraud lawsuit against Barclays PLC for misrepresenting the safety of its U.S.-based alternative trading system, or "dark pool," to investors, according to a source. Exclusive: Virgin America flight attendants to hold union vote SEATTLE (Reuters) - Flight attendants at Virgin America are due to begin voting next month on whether to join a union, which would be the first at the California-based airline. Related Video There is wiggle room in Aereo decision-Shapiro The Aereo court ruling explained Related News Cash stash may reflect fear of wealth going out of fashion Selling the family silver might not make you rich A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend