Business Today: Auto, factory data hint at some momentum in economy

	Click to View in Browser 07/2/2013 Auto, factory data hint at some momentum in economy WASHINGTON (Reuters) - U.S. new motor vehicle sales in June were poised to record their strongest month in more than 5-1/2 years and factories posted a second straight month of gains in new orders in May, indicating some pick-up in economic activity. Icahn, affiliates provide bulk of $5.2 billion Dell loan package (Reuters) - Billionaire investor Carl Icahn and affiliates provided $3.42 billion, or 66 percent, of the $5.2 billion in committed debt financing to back his proposed leveraged recapitalization plan for personal computer maker Dell Inc. Wall Street dips after early gains fade NEW YORK (Reuters) - U.S. stocks edged lower on Tuesday as stocks erased gains in late session after the benchmark S&P 500 index found resistance at its 50-day moving average. Exclusive: Greece has three days to deliver or face consequences - EU officials BRUSSELS/ATHENS (Reuters) - Greece has three days to reassure Europe and the IMF that it can deliver on conditions attached to its bailout in order to receive its next tranche of aid, four euro zone officials said on Tuesday. Fed pledges to get tough on Wall Street as adopts Basel rules WASHINGTON (Reuters) - The U.S. Federal Reserve pledged to draft more tough rules for Wall Street, while shielding smaller banks from some of the harshest impact of the global Basel III capital rules it adopted on Tuesday. Insight: Citigroup's crown jewel is losing some luster NEW YORK (Reuters) - Citigroup may be losing ground in a business that is central to its recovery plan, as rivals catch on to how much money the unit makes. Obama's Power Africa backer calls weak competition an investment incentive DAR ES SALAAM (Reuters) - Nigerian businessman Tony Elumelu, who backed President Barack Obama's Africa Power initiative with a $2.5 billion investment pledge, said on Tuesday the lack of competition in the continent's nascent power sector makes it an investment gem. IRS battles tech companies over 2004 offshore tax holiday WASHINGTON (Reuters) - The Internal Revenue Service and two technology firms are fighting in court over tax bills from a 2004 corporate tax holiday, with other multinationals watching closely for a result that could come any day, said tax lawyers. Supreme Court declines Cablevision stay application WASHINGTON (Reuters) - The U.S. Supreme Court on Tuesday declined a Cablevision Systems Corp request seeking a stay of National Labor Relations Board proceedings in which the company is involved. JPMorgan oil chief moves to Noble, new co-heads named: SparkSpread NEW YORK (Reuters) - JPMorgan Chase & Co named Jeff Katz and Mitch Rubinstein to run its global oil operation after the division's previous chief Jeff Frase left the bank after five years for Noble Group , industry website SparkSpread.com reported on Tuesday. Related Video The real drivers of auto demand Eli Broad on education, L.A.'s downtown revival and gun control Economic News Auto, factory data hint at some momentum in economy High hurdle to ramping up QE3, but possible: Fed's Dudley 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