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Monday, June 17, 2013

Business Today: Wall St. rises in volatile session before Fed meeting

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06/17/2013
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Wall St. rises in volatile session before Fed meeting
NEW YORK (Reuters) - Stocks rose on Monday but ended well off their highs as investors speculated over the Federal Reserve's intentions about its massive stimulus program to aid the economy before a meeting of policymakers that begins on Tuesday.
EU, U.S. leaders launch free-trade talks
ENNISKILLEN (Reuters) - The United States and European Union launched negotiations on one of the world's most ambitious free-trade agreements on Monday, promising thousands of jobs and speedier growth on both sides of the Atlantic.
Homebuilder sentiment rises to highest in seven years in June
NEW YORK (Reuters) - The majority of homebuilders view conditions in the industry as favorable for the first time since the start of the housing crisis seven years ago, with an industry report showing confidence in the sector surged in June.
Exclusive: ICE to win EU approval for $8.2 billion NYSE bid - sources
BRUSSELS (Reuters) - IntercontinentalExchange (ICE) is set to win unconditional EU approval for its $8.2 billion bid for NYSE Euronext, sources said on Monday, in a deal that would strengthen its presence in the lucrative derivatives trading business.
Big investor urges Smithfield breakup over buyout
(Reuters) - Starboard Value LP revealed a major stake in Smithfield Foods Inc on Monday and urged the world's largest pork producer to explore a breakup rather than go ahead with a planned $4.7 billion takeover by Chinese meat company Shuanghui International.
Embraer launches next E-Jets to strong demand, SkyWest orders up to $9.4 billion
PARIS (Reuters) - Brazilian planemaker Embraer SA launched a bigger and more efficient lineup of commercial E-Jets at the Paris Airshow, with a robust show of demand as it pushed deeper into a segment that rival Bombardier had staked out with its new narrow-body CSeries.
UK's Co-op Bank agrees to £1.5 billion 'bail-in' rescue plan
LONDON (Reuters) - Britain's Co-operative Group will force bondholders to help plug a 1.5 billion pound ($2.4 billion) capital hole, avoiding a repeat of unpopular taxpayer-funded bailouts made during the financial crisis.
Orders for big jets make a splash in Paris
PARIS (Reuters) - Big finance waded into a rain-soaked Paris Airshow with more than $10 billion in orders for jumbo passenger jets as planemakers dueled over strategy for large aircraft on Monday.
Detroit default, restructuring plan break new ground: Moody's
(Reuters) - Detroit's default and debt-restructuring plan are precedent-setting in the U.S. municipal market, Moody's Investors Service said on Monday, because the city is looking to bondholders, as well as labor unions and pensioners, to share the pain.
Ford looks to ride emerging market mini-SUV boom in India
CHENNAI, India (Reuters) - Ford Motor Co began shipping its locally-made EcoSport compact SUV on Monday, hoping to share in growing demand in India for mini-sport utility vehicles, which are popular due to heavy traffic, scarce parking and bumpy roads.
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