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Monday, February 4, 2013

Business Today: S&P 500 posts worst day since November; McGraw-Hill shares sink

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02/4/2013

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 posts worst day since November; McGraw-Hill shares sink

NEW YORK (Reuters) - Stocks slid on Monday, giving the S&P 500 its worst day since November, as renewed worries about the euro zone crisis caused the market to pull back from recent gains.

Dell closer to buyout as price talks narrow: source

NEW YORK (Reuters) - Dell Inc moved closer to a nearly $24 billion buyout deal, with price negotiations narrowing to $13.50 to $13.75 a share in what would be the biggest leveraged buyout since the financial crisis.

U.S. to sue S&P over ratings ahead of financial crisis

(Reuters) - Standard & Poor's said it expects to be the target of a U.S. Department of Justice civil lawsuit over its mortgage bond ratings, the first federal enforcement action against a credit rating agency over alleged illegal behavior tied to the recent financial crisis.

Simon Property results easily beat Wall Street views again

(Reuters) - Simon Property Group Inc reported a 21.9 percent increase in a key earnings measure for the fourth quarter, easily beating analysts' estimates, as rents and sales rose at its malls and outlet centers.

Exclusive: Japan exchange probes accounting of Universal's Philippine payments - sources

TOKYO (Reuters) - The Osaka Securities Exchange is investigating how Universal Entertainment Corp accounted for millions of dollars paid in 2010 to advance the Japanese firm's casino project on Manila Bay, people with direct knowledge of the inquiry said.

Analysis: Shareholder adviser ISS tightens screws on directors

(Reuters) - As thousands of U.S. companies prepare for their annual meetings over the coming months, the influential shareholder adviser ISS has signaled it is going to put directors on a shorter leash.

Trade group wants U.S.-China action on cyber security threats

WASHINGTON (Reuters) - U.S. companies want the U.S. and Chinese governments to work together to address the growing problem of cyber attacks that threaten to undermine trade between the world's two largest economies, a U.S. business leader said on Monday.

Gauge of U.S. business investment plans edges lower

WASHINGTON (Reuters) - A gauge of U.S. business investment plans dropped in December, a possible sign companies were losing confidence in the economy's strength due to fears over tighter fiscal policy, government data showed on Monday.

Draghi informed of Monte Paschi doubts but not at fault: source

ROME (Reuters) - Mario Draghi was informed of doubts raised by Bank of Italy inspectors about the Monte dei Paschi bank but had little control over what has been widely criticized as ineffective oversight of the scandal-hit lender, a senior BoI source told Reuters.

Oracle to buy network gear maker Acme Packet for $1.7 billion

(Reuters) - Software maker Oracle Corp will buy Acme Packet Inc for $1.7 billion net of cash as billionaire CEO Larry Ellison expands into the networking equipment market long dominated by Cisco Systems Inc.