Business Today: Wall Street jumps on Apple's results, Fed reassurance

Click to View in Browser 04/25/2012 Wall Street jumps on Apple's results, Fed reassurance NEW YORK (Reuters) - Stocks rallied on Wednesday, with Apple's surge giving the Nasdaq its biggest gain of the year, while the Fed chairman reassured markets that the central bank would do more if necessary to lift the economy. Bernanke says Fed prepared to do more for economy WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday said the U.S. central bank "would not hesitate" to launch another round of bond purchases to drive borrowing costs lower if it looked like the economy needed it. Watson to buy Actavis for at least $5.6 billion (Reuters) - Watson Pharmaceuticals Inc said on Wednesday it agreed to buy Actavis Group for at least 4.25 billion euros ($5.60 billion), in a deal that cements its status as one of the world's biggest suppliers of generic drugs. Wal-Mart shareholder sues over bribery scandal WILMINGTON, Del (Reuters) - A shareholder sued the board and several officers of Wal-Mart Stores Inc on Wednesday over allegations that the company's Mexican affiliate paid bribes to local officials, adding to the company's legal problems. GE annual meeting interrupted by 99 Percent protesters DETROIT (Reuters) - Nearly 100 protesters affiliated with the "99 Percent" populist movement disrupted General Electric Co's annual shareholders' meeting on Wednesday in an attack on the largest U.S. conglomerate's low tax rate. Apple growth hinges on China, new devices SAN FRANCISCO (Reuters) - Apple Inc's surprisingly strong performance in China has soothed fears that iPhone sales were losing steam, though analysts wondered how long Chief Executive Tim Cook could sustain the company's sizzling growth without a revolutionary new product. Plunge in durable goods orders clouds U.S. outlook WASHINGTON (Reuters) - Demand for long-lasting U.S. manufactured goods tumbled by the most in three years in March and businesses cut back on spending plans, suggesting the economy slowed as the first quarter drew to a close. Hyundai to stretch winning streak with first-quarter profit rise SEOUL (Reuters) - Shares in Hyundai Motor have risen almost 11 percent this month, while most other global auto brands have fallen - another sign that the South Korean car maker is motoring in the fast lane. Boeing profit up on stronger airliner sales (Reuters) - Boeing Co turned in a stronger-than-expected quarterly profit on Wednesday, helped by increased commercial aircraft sales, while industry experts praised the company's effort to boost airplane production to meet rising demand. RBS Citizens settles overdraft-fees case for $137.5 million (Reuters) - Citizens Financial Group Inc agreed to pay $137.5 million to settle lawsuits accusing it of charging customers excessive overdraft fees, in the second-largest settlement to date in nationwide litigation. Related Video Bernanke: Fed prepared to do more for economy Saft says Bernanke consensus strong, low rates to stay Economic News Bernanke says Fed prepared to do more for economy Small banks in bailout pool under pressure 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