Business Today: Yellen cites housing, geopolitical tensions as economic risks

	Click to View in Browser 05/7/2014 Yellen cites housing, geopolitical tensions as economic risks WASHINGTON (Reuters) - A slumping housing market and geopolitical tensions risk undermining the U.S. economy and bear close watching by the Federal Reserve, the central bank's chief said on Wednesday. U.S. government: no need for recalled GM cars to be pulled off the road WASHINGTON (Reuters) - The U.S. Department of Transportation has rebuffed a call by two Democratic senators to advise owners of 2.6 million recalled General Motors cars to stop driving them until they are repaired. DirecTV working with advisers on possible AT&T merger (Reuters) - DirecTV is working with advisers including Goldman Sachs to weigh a possible merger with AT&T , according to Dow Jones, which cited sources. Tesla posts strong operating profit, says battery factory plans on track DETROIT (Reuters) - Tesla Motors Inc , led by billionaire Elon Musk, on Wednesday posted a higher-than-expected quarterly operating profit and the electric car maker said its plans for a new battery plant are on track. Dow, S&P end up on Yellen; tech sinks Nasdaq NEW YORK (Reuters) - U.S. stocks mostly rose on Wednesday as the Federal Reserve signaled it will continue to support the economy, but the Nasdaq fell for a second session on weakness in Internet names. U.S. consumer credit posts largest gain in a year WASHINGTON (Reuters) - U.S. consumer credit recorded its largest increase in a year in March, boosted by growing demand for student loans and household borrowing to buy automobiles. Chevron needs 2 1/2 years to decide on Morocco prospects MARRAKESH, Morocco (Reuters) - U.S. energy major Chevron needs at least two and a half years to gather seismic data before deciding whether to stay in Morocco, the head of its Moroccan affiliate said on Wednesday. Cold weather sinks U.S. productivity but trend steady WASHINGTON (Reuters) - U.S. nonfarm productivity fell at its fastest pace in a year in the first quarter as harsh winter weather restrained output, leading to a jump in labor-related production costs. JPMorgan says to shut U.S. accounts of foreign diplomats (Reuters) - JPMorgan Chase & Co said on Wednesday it was closing the U.S. accounts of current and former foreign government officials to avoid the high compliance costs associated with these accounts. Toshiba wants to buy Alstom power grid business from GE: Nikkei (Reuters) - Toshiba Corp will offer to buy Alstom's power grid business for "several hundred billion yen" if General Electric Co completes its planned purchase of Alstom's energy business, the Nikkei newspaper reported. Related Video Will kidnap crisis impact Africa's WEF? easyJet develops drones to inspect planes Economic News Yellen cites housing, geopolitical tensions as economic risks U.S. consumer credit posts largest gain in a year 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