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Monday, June 4, 2012

Business Today: S&P 500 ends flat but Europe, U.S. worries weigh

Reuters » Business Today
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06/4/2012
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
S&P 500 ends flat but Europe, U.S. worries weigh
NEW YORK (Reuters) - The S&P 500 ended flat on Monday after recent sharp losses, though worries about the European debt crisis and weaker U.S. data kept investors wary of equities.
Chesapeake investors to take over board
(Reuters) - Top shareholders of Chesapeake Energy Corp will take control of the board of directors after the natural gas producer came under intense pressure to reform following a governance crisis and poor financial performance.
MF trustee: Corzine mismanaged growth of firm
NEW YORK (Reuters) - Jon Corzine failed to address MF Global Holdings Ltd's growing liquidity needs as he tried to build the commodities broker into a global investment powerhouse, helping create the conditions that led to its downfall, a trustee in MF's bankruptcy said on Monday.
"No" votes jump against Wal-Mart CEO, directors
(Reuters) - Wal-Mart Stores Inc shareholders voted in far larger numbers than in the past against the re-election of Chief Executive Mike Duke and others to the company's board in a rebuke after a Mexican bribery scandal.
BofA masked Merrill loss before 2008 vote - filings
(Reuters) - Top executives at Bank of America Corp did not tell shareholders just before a 2008 vote on its purchase of Merrill Lynch & Co that Merrill's losses were mounting and expected to weigh down earnings for years, papers filed in private shareholder litigation show.
RIM shares slide further as investor fears mount
TORONTO (Reuters) - Research In Motion's share price on Monday breached a level that technical analysts say could spur further declines, after an analyst warned that the BlackBerry maker's sales were dismal last month.
G7 to hold emergency euro zone talks, Spain top concern
TORONTO/BERLIN (Reuters) - Finance chiefs of the Group of Seven leading industrialized powers will hold emergency talks on the euro zone debt crisis on Tuesday in a sign of heightened global alarm about strains in the 17-nation European currency area.
Some claims vs Madoff-linked Santander fund tossed
(Reuters) - Banco Santander SA on Monday won the dismissal of U.S. federal securities law claims in a lawsuit by investors in a $3.1 billion hedge fund arm that funneled money to the now-imprisoned swindler Bernard Madoff.
Factory orders post surprise fall in April
WASHINGTON (Reuters) - New orders for factory goods fell in April for the third time in four months as demand slipped for everything from cars and machinery to computers, the latest worrisome sign for the economy.
Investors mull $1.5 billion undersea cable for BRICS nations
CAPE TOWN (Reuters) - Potential investors including Internet giant Google will decide before year-end whether to proceed with a $1.5 billion undersea cable linking the BRICS group of emerging economies to each other and the U.S., a senior official in the project said on Monday.
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