Business Today: Caterpillar, Apple drag Wall Street lower

	Click to View in Browser 09/25/2012 Caterpillar, Apple drag Wall Street lower NEW YORK (Reuters) - The S&P 500 suffered its worst day since June on Tuesday, pulled lower by Caterpillar Inc after it cut its profit outlook, the latest high-profile company to expect growth will fall short of expectations. Home prices rise for sixth month, a sign of recovery NEW YORK (Reuters) - U.S. home prices rose for a sixth straight month in July in the latest sign of a sustainable housing market recovery, while a jump in consumer confidence this month offered a harbinger that Americans are ready to loosen their spending. Lehman to pay creditors another $10.5 billion NEW YORK (Reuters) - Lehman Brothers Holdings Inc on Tuesday said it will pay about $10.5 billion to creditors starting early next month, the second leg of a plan to eventually pay out more than $65 billion. Fed's Plosser: Opposed to risky QE3 because it won't work PHILADELPHIA (Reuters) - The Federal Reserve's latest monetary stimulus will not do much to boost economic growth or lower unemployment and raises the risk of longer-run inflation, Philadelphia Fed President Charles Plosser said on Tuesday. BlackRock raises S&P 500 target, but says rally over NEW YORK (Reuters) - BlackRock Inc , one of the world's largest asset managers, has raised its expectations for the U.S. stock market in 2012 but believes this year's equity rally has run its course, according to targets provided by the firm on Tuesday. Group accuses BofA of bias in managing foreclosed homes (Reuters) - A nonprofit group on Tuesday accused Bank of America Corp of maintaining and marketing foreclosed homes in white neighborhoods much better than those it owns in African-American and Latino neighborhoods. PepsiCo wins debt-vs-equity dispute in U.S. Tax Court WASHINGTON (Reuters) - PepsiCo Inc has won a $363 million dispute with the Internal Revenue Service in U.S. Tax Court in a ruling of interest to companies seeking to avoid taxes when bringing cash from abroad into the United States. Ford offers European workers severance pay BERLIN (Reuters) - Ford Motor Co, which expects to lose more than $1 billion in Europe this year, is offering severance packages to "a few hundred" white-collar European workers as the automaker struggles to rein in costs amid plunging vehicle sales. EU rejects U.S. claim to have weaned Boeing off subsidies GENEVA (Reuters) - U.S. aircraft giant Boeing is still getting U.S. subsidies despite Washington's claim to have stopped the handouts, the European Union said on Tuesday in the latest round of the world's biggest trade dispute. UBS trader knew of Adoboli's secret account, said nothing LONDON (Reuters) - Former UBS trader Kweku Adoboli told close colleague John Hughes in January 2011 about a secret account he used to hide unauthorized deals, nine months before Adoboli was found out and arrested, a London court heard on Tuesday. Related Video Trading at Noon: Google soars to new all-time high Soldier body harness a low tech solution for high risk removal Economic News Fed's Williams sees expanded QE3 in 2013, end by 2014 Home prices rise for sixth month, a sign of recovery 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