Business Today: Fed shows faith in U.S. economy with bond-buying reduction

	Click to View in Browser 04/30/2014 Fed shows faith in U.S. economy with bond-buying reduction WASHINGTON (Reuters) - The Federal Reserve on Wednesday looked past a dismal reading on first quarter U.S. growth and gave a mostly upbeat assessment of the economy's prospects as it announced another cut in its massive bond-buying stimulus. U.S. economy stalls in first-quarter, but fundamentals still sound WASHINGTON (Reuters) - The U.S. economy barely grew in the first quarter as the severe winter hampered exports and led businesses to curtail investment spending, but activity already appears to be bouncing back. Facebook launches mobile ad network to vie with Google, Twitter SAN FRANCISCO (Reuters) - Facebook Inc rolled out a new service that it envisions will distribute ads across a network of mobile applications, opening the door to a new source of revenue for the Internet social network. Exclusive: Curbing tax-driven business moves abroad a priority - U.S. Treasury (Reuters) - The Obama administration is seeking ways to curb tax-dodging by U.S. businesses that reincorporate overseas, a U.S. Treasury official told Reuters on Wednesday, highlighting growing concern about deals known as "inversions." Exclusive: Merck explores $15 billion-plus drug portfolio sale - sources NEW YORK/LONDON (Reuters) - Merck & Co Inc is looking to sell a big portfolio of mature drugs that could fetch more than $15 billion, according to people familiar with the matter, as the U.S. drugmaker continues to streamline businesses to focus on high-growth areas. U.S. government says it lost $11.2 billion on GM bailout WASHINGTON (Reuters) - The U.S. government lost $11.2 billion on its bailout of General Motors Co, more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday. CEO Barra leans on small circle of GM veterans DETROIT (Reuters) - In the midst of General Motors Co's biggest crisis since bankruptcy, new Chief Executive Mary Barra is turning to an inner circle dominated by company "lifers," believing the team is up to handling a massive recall and reinvigorating the company without much outside help, former and current GM executives say. Dow ends at record as Fed upbeat on economy NEW YORK (Reuters) - U.S. stocks rose and the Dow ended at a record high on Wednesday after the Federal Reserve gave an upbeat view of the economy's prospects as it announced another cut to its bond-buying program. UAW can still unionize Volkswagen Tennessee plant after failed drive: experts DETROIT (Reuters) - The United Auto Workers still has several options to unionize Volkswagen AG's Tennessee car plant, labor law experts said on Wednesday, after it failed to win enough support and last week dropped its challenge to the election results. GE eases ahead in race for Alstom power assets PARIS (Reuters) - Cash-strapped French engineering group Alstom said on Wednesday it would explore a $16.9 billion offer from General Electric for its energy arm while leaving the door open to a rival bid from Germany's Siemens. Related Video U.S. economy stalls in Q1, worst in more than a year UK financial trade tax challenge fails Economic News U.S. economy stalls in first-quarter, but fundamentals still sound Exclusive: Curbing tax-driven business moves abroad a priority - U.S. Treasury 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