Business Today: Wall Street bounces back after sell-off; results a boost

	Click to View in Browser 02/5/2013 Wall Street bounces back after sell-off; results a boost NEW YORK (Reuters) - Stocks climbed on Tuesday, recovering a day after the market's biggest sell-off since November, as stronger-than-expected earnings brightened the profit picture. Dell to go private in landmark $24.4 billion deal SAN FRANCISCO/NEW YORK (Reuters) - Michael Dell will take Dell Inc private for $24.4 billion in the biggest leveraged buyout since the financial crisis, a deal that allows the billionaire chief executive to attempt a revival of his struggling computer company without Wall Street scrutiny. Disney posts lower Q1, ESPN pays more for programming LOS ANGELES (Reuters) - Media giant Walt Disney Co posted lower earnings on Tuesday, due in part to higher programming costs for its ESPN sports division. U.S. government slams S&P with $5 billion fraud lawsuit (Reuters) - The government is seeking $5 billion in its civil lawsuit against Standard & Poor's, accusing the ratings service of defrauding investors, in one of the most ambitious cases yet from the Justice Department over conduct tied to the financial crisis. Deficit to shrink slightly, growth to slow this year: CBO WASHINGTON (Reuters) - The fiscal 2013 budget deficit will dip to $845 billion after four straight years of $1 trillion-plus deficits, the Congressional Budget Office said on Tuesday, largely because of higher taxes now being paid by wealthy Americans. Goldman Sachs' O'Neill, aka Mr. BRIC, to retire (Reuters) - Jim O'Neill, a Goldman Sachs Group Inc executive who coined the term "BRIC" to refer to four fast-growing emerging markets, will retire later this year, according to an internal memo sent out on Tuesday. Analysis: Carried interest thrust again into tax debate WASHINGTON (Reuters) - A big tax break used by U.S. private equity and venture capital executives is under threat again, and this time their chances of preserving it may have dimmed. Louis Freeh to chair U.S. law firm Pepper Hamilton (Reuters) - Louis Freeh, the former director of the Federal Bureau of Investigation and the trustee overseeing the bankruptcy of MF Global, has become chair of the law firm Pepper Hamilton LLP, the firm's leaders said on Tuesday. Ally working to repay Treasury stock in "near future" (Reuters) - Ally Financial Inc, the U.S. auto lender that is majority-owned by the U.S. government, is working to repay $5.9 billion in preferred stock owned by the U.S. Treasury "in the near future," Chief Executive Officer Michael Carpenter said on Tuesday. Yum CEO says time, not more ads, to cure China sales drop (Reuters) - KFC parent Yum Brands Inc on Tuesday said time, not ad spending, is the cure for a steep sales decline at its restaurants in China that was sparked by a food safety scare late last year. Related Video Techquity: Dude got Dell, Amazon coin, Apple value Gravity light set to illuminate the developing world Economic News Obama asks Congress to soften budget cuts, trim deficit Deficit to shrink slightly, growth to slow this year: CBO 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