Business Today: Dow hits 4-year high, lifted by ISM factory data

Click to View in Browser 05/1/2012 Dow hits 4-year high, lifted by ISM factory data NEW YORK (Reuters) - The Dow closed at its highest level in more than four years on Tuesday after U.S. manufacturing expanded at a faster pace than expected in April, easing jitters about a slowdown in the economic recovery. Exclusive: U.S., EU, South Korea, Japan urge sanctions for North Korea firms UNITED NATIONS (Reuters) - The United States, European Union, South Korea and Japan have submitted a list of about 40 North Korean companies to the U.N. Security Council's sanctions committee for possible blacklisting due to Pyongyang's recent rocket launch, envoys said on Tuesday. GM lifts U.S. sales outlook; Chrysler posts gains DETROIT (Reuters) - General Motors Co and Ford Motor Co both reported a smaller-than-expected decline in U.S. new vehicle sales in April, and GM, the largest U.S. automaker, raised its full-year forecast for the industry due to a strengthening economy. Factory growth best in 10 months; bolsters outlook NEW YORK (Reuters) - Manufacturing grew in April at the strongest rate in 10 months, easing concerns the economy had lost momentum at the start of the second quarter. Chesapeake to replace McClendon as chairman HOUSTON (Reuters) - Natural gas producer Chesapeake Energy Corp will split the jobs of chairman and chief executive, and bring an early end to a program that granted CEO Aubrey McClendon stakes in company wells, an arrangement that sparked investor anger and potentially created serious conflicts of interest. Gross warns of U.S. credit rating downgrade: CNBC NEW YORK (Reuters) - Bill Gross, founder and co-chief investment officer of bond giant PIMCO, told CNBC on Tuesday that the U.S. could be headed toward a credit rating downgrade if it does not tackle its deficit. AMR eliminates five senior management jobs (Reuters) - AMR Corp, the bankrupt parent of American Airlines, said on Tuesday it eliminated five senior jobs as part of its restructuring and that its lead labor strategist would step down. Dewey encourages partners to seek new jobs: memo (Reuters) - New York law firm Dewey & LeBoeuf, struggling with a debt crisis and criminal probe of its former chairman, has "encouraged" its partners to seek new jobs, one partner said, citing an internal memo. Lufthansa says new Boeing 747 overweight, but performance OK SEATTLE (Reuters) - The head of Deutsche Lufthansa AG's fleet management said he is not happy with the weight of Boeing Co's 747-8 jumbo, but that will not restrict the use of the airline's newest aircraft. March foreclosures rise on month, fall on year NEW YORK (Reuters) - Slightly more foreclosures on U.S. homes were completed in March compared to the month before, though levels were still below those seen a year ago, data analysis firm CoreLogic said on Tuesday. Related Video Trading at Noon: Probe concludes Murdoch unfit for job European protesters in May Day marches against austerity Economic News Construction spending rises, public outlays weak Factory growth best in 10 months; bolsters outlook 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