Business Today: Wall Street ends nearly flat as Bernanke warns on "cliff"

	Click to View in Browser 12/12/2012 Wall Street ends nearly flat as Bernanke warns on "cliff" NEW YORK (Reuters) - Stocks ended nearly flat on Wednesday, giving up most of the day's gains after Fed Chairman Ben Bernanke reiterated that monetary policy won't be enough to offset damage from the "fiscal cliff." Fed makes new rate pledge as it launches fresh stimulus WASHINGTON (Reuters) - In an unprecedented step, the Federal Reserve said on Wednesday it would hold interest rates near zero until the unemployment rate falls to 6.5 percent as it launched a new round of bond purchases to stimulate the economy. Serious differences remain on "fiscal cliff" as talks drag on WASHINGTON (Reuters) - Sharp differences remained on Wednesday between congressional Republicans and the White House in talks to avert the "fiscal cliff" of steep tax hikes and budget cuts, and negotiators warned the showdown could drag on past Christmas. Berkshire buys $1.2 billion in stock from single investor (Reuters) - Warren Buffett's conglomerate Berkshire Hathaway Inc bought back $1.2 billion in stock from the estate of an unnamed investor, the company said on Wednesday, one day after Buffett advocated for a higher estate tax when the wealthy die. Exclusive: SPX bid for Gardner Denver tops $4 billion - sources NEW YORK (Reuters) - Industrial machinery maker SPX Corp has outbid private equity firms competing to buy Gardner Denver Inc by a wide margin, offering to pay more than $4 billion for the rival, according to two people familiar with the matter. Recent maneuvers suggest BofA-MBIA pact likely: analysts (Reuters) - A long-running legal dispute between Bank of America Corp and insurer MBIA Inc could be settled in early 2013 after recent maneuvers involving MBIA's bonds, analysts at research firm CreditSights wrote. Victims of 1983 Beirut bombing drop Standard Chartered lawsuit NEW YORK (Reuters) - The estates of victims of the 1983 bombing of U.S. Marine barracks in Beirut have dropped a lawsuit against Standard Chartered Plc that accused the bank of concealing Iranian transactions that could have satisfied a $2.67 billion judgment. DuPont curtails spending due to fiscal cliff NEW YORK (Reuters) - Chemical maker DuPont will spend less on capital projects next year than initially planned due to uncertainty about the U.S. "fiscal cliff," Chief Executive Ellen Kullman said in an interview. NY loses ruling on fees paid to Ernst & Young by Lehman NEW YORK (Reuters) - The New York attorney general has no authority to claim $150 million in fees that Ernst & Young earned from Lehman Brothers Holdings in the years leading up to Lehman's collapse in 2008, a judge ruled on Wednesday. With Germany's backing, EU nears banking union deal BRUSSELS (Reuters) - Germany signaled on Wednesday it was ready to back plans to give the European Central Bank new powers to supervise banks across the bloc, raising the prospect of a breakthrough on the European Union's most ambitious financial reform. Related Video ECONOMY 2013: Luxury buyer weaker than last year - Saks CEO Daily Digit: 46% of firms to pay bonuses Economic News Fed makes new rate pledge as it launches fresh stimulus Serious differences remain on "fiscal cliff" as talks drag on 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