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Tuesday, May 20, 2014

Daily Investor Briefing: GM recalls another 2.6 million...

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05/20/2014

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

GM recalls another 2.6 million vehicles, doubles second-quarter charge

DETROIT (Reuters) - General Motors Co said on Tuesday it is recalling another 2.6 million vehicles globally, raising the number of vehicles it has recalled so far this year to almost 15.4 million.

Credit Suisse guilty plea has little immediate impact as shares rise

WASHINGTON/NEW YORK/ZURICH (Reuters) - Credit Suisse saw little immediate impact on Tuesday after it became the largest bank in decades to plead guilty to a U.S. criminal charge and will pay more than $2.5 billion in penalties for helping Americans evade taxes.

Wall St. ends lower in broad selloff; retail stocks weigh

NEW YORK (Reuters) - U.S. stocks fell in a broad selloff on Tuesday, with major indexes hitting session lows in the afternoon, led by losses in the retail sector after disappointing results from Staples and TJX Companies.

Target replaces president of money-losing Canadian unit

TORONTO (Reuters) - Target Corp has fired the president of its money-losing Canadian operation and named a long-time U.S. executive with operational experience to try to repair its supply chain woes and win back customers.

Fed's Dudley sees 'relatively slow' rate hike cycle

NEW YORK (Reuters) - The Federal Reserve should be able to raise interest rates slowly when it eventually tightens monetary policy given that slack in the U.S. economy is restraining inflation, a top official at the central bank said on Tuesday.

Exclusive: Goldman puts Metro metals warehousing unit up for sale

NEW YORK (Reuters) - Goldman Sachs has begun a formal process to sell the metals warehousing business it purchased four years ago, a spokesman said on Tuesday, disclosing the first definitive effort to shed the operation amid regulatory and political pressure.

Wall Street watchdog prepares to launch data collection plan in 2015

WASHINGTON (Reuters) - Wall Street's industry-funded watchdog aims to build and launch the initial phases of a mammoth broker data collection system in 2015, assuming it secures approval for the plan, the regulator's head said on Tuesday.

U.S. rejects challenge to $13 billion JPMorgan Chase settlement

(Reuters) - The U.S. government urged a federal judge to throw out a lawsuit seeking to scuttle its landmark $13 billion settlement with JPMorgan Chase & Co, rejecting a claim that the accord let the largest U.S. bank off too easily.

Schroders, Fidelity reveal investor split as Astra rejects Pfizer

LONDON (Reuters) - Some leading AstraZeneca Plc shareholders were at odds over whether the British drugmaker made the right decision in rejecting Pfizer Inc's final $118 billion bid to buy the company.

Exclusive: Virgin America flight attendants seek unionization vote

SEATTLE (Reuters) - Flight attendants at Virgin America airlines are seeking a vote on whether to unionize, according to an official at the Transport Workers Union (TWU), in a move that could pave the way for organized labor's latest victory in the airline industry.