Business Today: Bernanke's words drive Wall Street up 1 percent

Click to View in Browser 03/26/2012 Bernanke's words drive Wall Street up 1 percent NEW YORK (Reuters) - The S&P 500 rebounded from its worst week so far this year to retake a four-year high on Monday after Federal Reserve Chairman Ben Bernanke signaled supportive monetary policy will remain even though the job picture has begun to improve. Bernanke says U.S. needs faster growth WASHINGTON (Reuters) - The U.S. economy needs to grow more quickly to bring the unemployment rate down further, Federal Reserve Chairman Ben Bernanke said on Monday, defending the central bank's policy of very low interest rates. Housing market recovery hits pothole in Feb WASHINGTON (Reuters) - Contracts to purchase previously owned U.S. homes unexpectedly fell in February, suggesting a loss of momentum in the housing market after recent signs of improvement. Apple's gains make some mutual funds riskier NEW YORK (Reuters) - When it comes to Apple, investors could become victims of their own success. February business volume up in year, down in month (Reuters) - U.S. companies borrowed more to buy equipment in February than a year ago, though less than in January, and spent mostly for new technology and aging goods replacement, the Equipment Leasing and Finance Association said on Monday. Exclusive: Blackstone, Bain prepare Michael Stores IPO NEW YORK (Reuters) - Blackstone Group LP and Bain Capital LP have tapped banks for an initial public offering of Michael Stores Inc, North America's largest specialty retailer of arts and crafts which they paid over $6 billion to take private in 2006, four people familiar with the matter said on Monday. BMW recalls 1.3 million cars worldwide FRANKFURT (Reuters) - BMW AG , the world's largest premium carmaker, is recalling about 1.3 million cars for repair worldwide due to a possible problem with a battery cable cover in the trunk, the carmaker said on Monday. IRS waives fines for farmers missing MF Global tax info CHICAGO (Reuters) - Tax officials will not penalize farmers who could not properly file their taxes because they had accounts at bankrupt broker MF Global. Japan Airlines takes delivery of two Boeing 787s SEATTLE (Reuters) - Japan Airlines took delivery of its first two Boeing Co 787 Dreamliners on Monday, after a delay of about three years while the plane-maker wrestled with development and production problems. Deutsche Bank to settle MBS suit for $32.5 million NEW YORK (Reuters) - Deutsche Bank AG has agreed to pay $32.5 million to investors who said they were misled about the quality of mortgage loans sold to them as highly rated securities right before the U.S. housing market imploded, court papers show. Related Video Bernanke still worried about jobs Healthcare law will be devastating to jobs, says FL Gov. Economic News Bernanke says U.S. needs faster growth Fed's Plosser: U.S. growth to be about 3 percent in 2012 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