Business Today: Wall Street ends down, but indexes gain for week

	Click to View in Browser 04/12/2013 Wall Street ends down, but indexes gain for week NEW YORK (Reuters) - Stocks closed lower on Friday, retreating from the previous session's record levels as financials dropped, though major indexes notched strong gains for the week. Retail sales point to flagging economic momentum WASHINGTON (Reuters) - Retail sales contracted in March for the second time in three months and consumer confidence tumbled in April, a sign tax hikes early this year stole momentum from the economy. J.C. Penney gets interim victory in Macy's dispute NEW YORK (Reuters) - A New York judge on Friday handed embattled J.C. Penney Co Inc an interim victory in its dispute with Macy's Inc over goods designed by Martha Stewart. Ex-Credit Suisse trader pleads guilty in mortgage case NEW YORK (Reuters) - A former Credit Suisse Group AG trader on Friday pleaded guilty to a conspiracy charge in a U.S. criminal case relating to the alleged inflation of subprime mortgage bond prices. Euro ministers back 10 billion euro Cyprus bailout DUBLIN (Reuters) - Euro zone finance ministers backed a 10 billion euro bailout for Cyprus on Friday and the European Commission said it would try to help the island's economy grow again with better use of EU structural funds. U.S. again declines to name China currency manipulator WASHINGTON (Reuters) - The Obama administration said on Friday that China's currency remained "significantly undervalued," but again stopped short of labeling the world's second-biggest economy a currency manipulator. Goldman CEO Blankfein got 75 percent compensation boost in 2012 NEW YORK (Reuters) - Goldman Sachs Group Inc's board awarded Chief Executive Lloyd Blankfein a 75 percent increase in compensation, to $21 million, for 2012 - including pay, bonus and restricted stock award. JPMorgan's main businesses lukewarm in first quarter NEW YORK (Reuters) - JPMorgan Chase & Co posted higher first-quarter profit on Friday as it spent much less money on mortgage-related litigation, but most of its major businesses turned in tepid performances, and the bank's overall revenue declined. Former Arthur Levitt adviser eyed for possible SEC post: sources WASHINGTON/NEW YORK (Reuters) - Securities and Exchange Commission Chairman Mary Jo White is eyeing a former adviser to ex-SEC Chairman Arthur Levitt as a potential contender for a key post in the division that oversees financial markets, three people familiar with the matter told Reuters. Judge denies $20 million severance to outgoing AMR chief (Reuters) - A judge has rejected a proposed severance package of nearly $20 million for Thomas Horton, the chairman and chief executive officer of American Airlines parent AMR Corp, saying the payout was not allowed under federal bankruptcy law. Related Video Why Fred Wilson believes immigration reform will pass FCC should deregulate white space spectrum: Wilson Economic News Poor communities being left behind in recovery: Bernanke Obama's tax rate in 2012 was 18.4 percent: White House 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