Business Today: Wall Street dips after GDP but finishes week higher

	Click to View in Browser 04/26/2013 Wall Street dips after GDP but finishes week higher NEW YORK (Reuters) - Stocks dipped in thin volume on Friday, though the market had a strong week overall despite a mixed bag of earnings and weak economic figures. Growth falls short of forecasts, weakness ahead WASHINGTON (Reuters) - The economy regained speed in the first quarter, but not as much as expected, heightening fears it could struggle to cope with deep government spending cuts and higher taxes. U.S. sues Novartis over kickbacks, second case this week NEW YORK (Reuters) - The U.S. government on Friday announced its second civil fraud lawsuit against Novartis AG in four days, accusing a unit of the Swiss drugmaker of paying multimillion-dollar kickbacks to doctors in exchange for prescribing its drugs. Goldman Sachs lines up $1.75 billion J.C. Penney loan: CNBC (Reuters) - Goldman Sachs has arranged a $1.75 billion financing package for retailer J.C. Penney Co Inc , backed by the department store chain's real estate and other assets, CNBC reported on Friday. Sprint sets tentative date for investor vote for SoftBank deal (Reuters) - Sprint Nextel Corp has set June 12 as the tentative date for a special meeting for shareholders to vote on its proposed $20.1 billion deal with SoftBank Corp , according to a document it said it filed with U.S. regulators. GM files registration statement to make shareholder sales easier DETROIT (Reuters) - General Motors Co on Friday filed a shelf registration statement that makes it easier for shareholders, including the U.S. Treasury, to sell stock in the company over the next three years. Portugal to challenge JPMorgan, Santander swaps in court LISBON (Reuters) - Portugal's government said on Friday it would challenge in court several high-risk hedge contracts signed by public companies and banks JPMorgan and the local unit of Spain's Santander to avoid losses for the debt-ridden state. Japan's SMBC said to be in talks for TPG's $1.2 billion Indonesian bank stake HONG KONG/TOKYO (Reuters) - Japan's Sumitomo Mitsui Banking Corp is in advanced talks to buy a $1.2 billion stake in BTPN, an Indonesian lender backed by TPG Capital, people familiar with the matter told Reuters. Court gives final OK to Merrill deferred compensation settlement (Reuters) - A federal judge on Friday gave final approval to a settlement under which Merrill Lynch will pay $21 million to end a class action lawsuit by some 1000 former brokers who claimed they were denied deferred compensation when they left after the brokerage merged with Bank of America. NY City sues BP over Deepwater Horizon spill: Comptroller NEW YORK (Reuters) - New York City said on Friday it sued BP Plc for more than $39 million of losses it claims beneficiaries of the city's pension funds sustained due to BP's "misconduct and fraudulent behavior" linked to the 2010 Deepwater Horizon oil spill. Related Video Wooden solar cells shine light on cleaner power option UK lawmakers criticise accountants over tax Economic News Growth falls short of forecasts, weakness ahead Fed watchdog to complete audit of early minutes release in Q2 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