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Wednesday, April 3, 2013

Business Today: Wall Street falls on signs of weak economy, North Korea

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04/3/2013
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
Wall Street falls on signs of weak economy, North Korea
NEW YORK (Reuters) - Stocks fell on Wednesday, with the S&P 500 index posting its biggest daily decline in more than a month, after a weaker-than-expected survey of private employers raised concerns about the strength of the economy.
Analysis: Supply crunch to take steam out of home sales
WASHINGTON (Reuters) - A shortage of properties could take some edge off home sales during the spring selling season, but the housing market recovery should remain intact.
Ex-Goldman trader Taylor pleads guilty to wire fraud
NEW YORK (Reuters) - Ex-Goldman Sachs Group Inc trader Matthew M. Taylor pleaded guilty on Wednesday to defrauding the Wall Street bank with an unauthorized $8.3 billion futures trade in 2007, saying he exceeded internal risk limits and lied to supervisors to cover up his activities.
Cyprus judges to look into crisis, president
NICOSIA (Reuters) - Supreme Court judges will launch an investigation on Thursday into almost a decade of financial profligacy which brought Cyprus to its knees last month, with a mandate from the head of state to give his own affairs special attention.
Exclusive: TPG, Madison Dearborn final bidders for NFP - sources
NEW YORK (Reuters) - Private equity firms TPG Capital and Madison Dearborn Partners are the two finalists bidding for National Financial Partners , a New York-based wealth management company with a market value of nearly $900 million, people familiar with the matter said.
Former broker pleads guilty to insider trading
NEW YORK (Reuters) - Former broker Thomas Conradt pleaded guilty Wednesday to insider trading charges related to trades he made ahead of a $1.2 billion acquisition by International Business Machines Corp in 2009.
JPMorgan wins dismissal of most Dexia mortgage claims
(Reuters) - JPMorgan Chase & Co has won the dismissal of nearly all of a lawsuit accusing it of misleading the Belgian-French bank Dexia SA into buying more than $1.6 billion of troubled mortgage debt.
British Airways parent IAG, Boeing reach deal on 18 Dreamliners
MADRID (Reuters) - International Airlines Group said on Wednesday it had firmed up orders for 18 of Boeing's 787 Dreamliners, a show of confidence in the jet that has been grounded since January because of battery problems.
Companies hire fewer in March, service sector growth slows
NEW YORK (Reuters) - Companies hired at the weakest pace in five months in March as recent strong demand for construction jobs evaporated, while growth in the vast services sector slowed, signs that the economic recovery could be hitting a soft patch.
SAC's Cohen must face fraud claims by ex-wife
NEW YORK (Reuters) - An appeals court has revived a lawsuit by the former wife of Steven A. Cohen, founder of hedge fund SAC Capital Advisors, who accused the billionaire of hiding $5.5 million from her during proceedings that led to their 1990 divorce.
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