Business Today: Bullish consumers, rising home prices brighten U.S. growth picture

	Click to View in Browser 03/25/2014 Bullish consumers, rising home prices brighten U.S. growth picture WASHINGTON (Reuters) - U.S. consumer confidence surged to a six-year high in March and house prices increased solidly in January, positioning the economy for stronger growth after a weather-induced soft spot. Wall Street rebounds; biotech shares snap losing streak NEW YORK (Reuters) - U.S. stocks ended higher on Tuesday, rebounding from a two-day decline as the hard-hit biotechnology sector regained its momentum and a strong read on consumer confidence increased optimism about the economy. U.S. banks enjoy 'too-big-to-fail' advantage: Fed study NEW YORK (Reuters) - A landmark study by Federal Reserve economists found that large U.S. banks enjoy a "too-big-to-fail" advantage in financial markets, joining a heated debate that could influence regulators that are implementing tough new rules for Wall Street. Bitcoins taxed as property, not currency, IRS says WASHINGTON (Reuters) - Wading into a murky tax question for the digital age, the U.S. Internal Revenue Service said on Tuesday that virtual currencies such as bitcoin are to be treated, for tax purposes, as property and not as currency. Herbalife launches website to counter pyramid scheme claims BOSTON (Reuters) - Weight loss and nutrition company Herbalife launched a website on Tuesday that details its business practices and counters claims made by billionaire investor William Ackman that it is running an illegal pyramid scheme. Rate rise only when Fed certain U.S. recovery well under way: Fisher NEW YORK (Reuters) - The Federal Reserve will keep interest rates near zero until it is confident the U.S. economic recovery has taken hold, a top Fed policymaker said in an interview on Tuesday, reinforcing the central bank's view that there would be a "considerable time" between the end of bond-buying and a move to tighten policy. Third Point sues Sotheby's over Poison Pill BOSTON (Reuters) - Daniel Loeb's Third Point on Tuesday sued Sotheby's to remove restrictions that blocked the hedge fund from acquiring up to 20 percent of the auction house's stock. Companies must pay taxes on severance payments: U.S. high court WASHINGTON (Reuters) - The U.S. Supreme Court ruled on Tuesday that taxes are due for Social Security and Medicare on severance packages paid to workers who are laid off involuntarily, overturning a lower court ruling that could have led to a wave of payroll tax refund requests from U.S. businesses. Top Dimon aide Cavanagh leaves JPMorgan for Carlyle NEW YORK (Reuters) - Private equity firm Carlyle Group LP poached one of Jamie Dimon's closest aides, Michael Cavanagh, from JPMorgan Chase & Co on Tuesday, in a surprise hire that reflects both the increasing prominence of so-called shadow banking and the regulatory challenges faced by banks. FAA tells Boeing to fix 747-8 software to avoid crash WASHINGTON (Reuters) - The U.S. Federal Aviation Administration on Tuesday ordered an immediate fix to the latest version of Boeing Co's 747-8 plane, saying a software glitch could cause it to lose thrust when close to landing and fly into the ground. Related Video Devalue the pound to boost UK economy? Breakingviews: Box of IPOs Economic News Bullish consumers, rising home prices brighten U.S. growth picture U.S. banks enjoy 'too-big-to-fail' advantage: Fed study 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