Business Today: Wall Street rises on Yellen's view; S&P scores modest first quarter gain

	Click to View in Browser 03/31/2014 Wall Street rises on Yellen's view; S&P scores modest first quarter gain NEW YORK (Reuters) - U.S. stocks rose on Monday, with the S&P 500 ending both March and the first quarter of 2014 with moderate gains, after Federal Reserve Chair Janet Yellen relieved concerns about a rate hike coming earlier than expected. GM to recall 1.3 million vehicles to fix electric power steering assist (Reuters) - General Motors Co said it informed the National Highway Traffic Safety Administration that it would recall more than 1.3 million vehicles in the United States to fix defects in electric power steering assist. Yellen strongly defends easy Fed policies, cites U.S. labor slack CHICAGO (Reuters) - Federal Reserve Chair Janet Yellen gave a strong defense of the central bank's easy-money policies on Monday, saying its "extraordinary" commitment to boosting the economy, especially the still struggling labor market, will be needed for some time to come. JPMorgan fails to end lawsuit over London Whale losses NEW YORK (Reuters) - JPMorgan Chase & Co must face a lawsuit in which shareholders accused it of concealing risks that surfaced when it lost at least $6.2 billion in 2012 over trades made by Bruno Iksil, the so-called London Whale. N.Y. judge lets Chevron bring fraud claims against Patton Boggs NEW YORK (Reuters) - A New York judge has allowed Chevron Corp to sue Patton Boggs over claims that the Washington law and lobbying firm engaged in fraud while trying to enforce a multibillion-dollar environmental judgment for a group of Ecuadorean villagers. Republican Paul Ryan to unveil U.S. budget plan on Tuesday WASHINGTON (Reuters) - U.S. Representative Paul Ryan on Tuesday plans to unveil a 10-year balanced budget plan that seeks to bolster Republicans' campaign credentials as the party of fiscal prudence but also leaves them open to fresh attacks over deep cuts to social programs. U.S. lawmakers probing why GM employees approved subpar switches WASHINGTON/DETROIT (Reuters) - A U.S. congressional probe is focusing on why General Motors employees repeatedly approved ignition switches that failed to meet company standards and how those decisions may have contributed to crashes linked to at least 13 deaths. N.Y. regulators say MetLife to pay $60 million for violations NEW YORK (Reuters) - Insurer MetLife will pay $60 million because two subsidiaries solicited insurance business in New York without a license, New York authorities said on Monday. Macy's chief merchant named president in possible succession move NEW YORK (Reuters) - Macy's Inc on Monday said it promoted its chief merchandising officer, Jeffrey Gennette, to president of the company, in a move that potentially positions him to become chief executive. Deutsche puts FX sales director in London on leave: source (Reuters) - Deutsche Bank AG, the world's largest currency trader, has placed on leave a director of institutional foreign exchange sales as part of an internal investigation into potential exchange rate manipulation, a source familiar with the matter said on Monday. Related Video Markets move higher on Yellen comments Questions on Obamacare loom, despite deadline - Paul Howard Economic News Yellen strongly defends easy Fed policies, cites U.S. labor slack Republican Paul Ryan to unveil U.S. budget plan on Tuesday 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