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Friday, April 20, 2012

Business Today: Earnings lift Wall Street but tech, banks weigh

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04/20/2012
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Earnings lift Wall Street but tech, banks weigh
NEW YORK (Reuters) - Stocks mostly rose on Friday, led by solid earnings from McDonald's, General Electric and Microsoft, but declines in banks and technology shares pulled indexes from their day's highs.
Disney film studio chief Ross steps down
LOS ANGELES (Reuters) - Rich Ross stepped down as chairman of Walt Disney Co's movie studio after a less than three-year run that included the release of "John Carter," one of the biggest flops in recent Hollywood history.
G20 pledges more than $430 billion for IMF
WASHINGTON (Reuters) - The Group of 20 nations on Friday pledged more than $430 billion to better than double the International Monetary Fund's lending capacity and protect the global economy from the euro zone's debt crisis.
GE profit, revenue top Wall Street forecasts
(Reuters) - General Electric Co topped Wall Street's profit and revenue forecasts for the first quarter, helped by strong demand for energy equipment and railroad locomotives.
Citigroup CEO and directors sued over executive pay
(Reuters) - Days after being rebuked by shareholders, Citigroup Inc Chief Executive Vikram Pandit and the bank's directors have been sued by a shareholder accusing them of awarding outsized pay to top executives.
Danone raises bid for Pfizer baby food unit: report
PARIS (Reuters) - French food group Danone has raised its offer for Pfizer's infant nutrition business to close to $11 billion in an attempt to outbid rival Nestle , according to news website WanSquare.
AMR unions want to take a chance on US Air merger
(Reuters) - Labor groups at bankrupt American Airlines said on Friday they support a potential merger with rival US Airways Group Inc in a deal they say would save more jobs than a plan by parent AMR Corp to reorganize as a stand-alone carrier.
Rogue trader Kerviel accuses SocGen of deceit
PARIS (Reuters) - Ex-Societe Generale trader Jerome Kerviel, who is appealing a three-year prison sentence for his role in France's biggest-ever rogue trading scandal, is suing his former employer for allegedly obtaining a verdict under false pretences, his lawyer said on Friday.
Pressure on Chesapeake mounts, shares down
HOUSTON (Reuters) - Chesapeake Energy Corp CEO Aubrey McClendon has been sued by a shareholder over potential conflicts of interest on the same day that a Wall Street analyst urged leadership changes at the company.
MBIA, BofA to face off in May on insurer's restructuring
NEW YORK (Reuters) - MBIA Inc's 2009 restructuring will be on trial next month, when Bank of America Corp and two other lenders try to show that New York state insurance department acted unreasonably in approving it.
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