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Tuesday, August 28, 2012

Business Today: Wall Street ends flat, volume among lightest of year

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08/28/2012
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
Wall Street ends flat, volume among lightest of year
NEW YORK (Reuters) - U.S. stocks ended little changed in another day of scarce activity on Tuesday after mixed economic data gave investors little reason to shift their focus from Federal Reserve Chairman Ben Bernanke's speech on Friday.
Home prices gain again but consumer mood cools
NEW YORK (Reuters) - Home prices rose for the fifth consecutive month in June, a fresh sign of improvement as the recovery in the housing market picks up steam.
G7 says monitors high oil prices, will ensure supply
WASHINGTON (Reuters) - Group of Seven finance ministers on Tuesday urged oil-producing countries to increase their output to meet demand, and warned that the group stands ready to sanction a release from strategic reserves to offset elevated oil prices that could hurt global growth.
Home prices gain for fifth month in June: S&P
NEW YORK (Reuters) - Home prices rose more than expected in June, the fifth month in a row of gains in a fresh sign of improvement in the housing market, a closely watched survey showed on Tuesday.
Spanish recession darkens as country mulls bailout
MADRID (Reuters) - The Spanish economy is falling deeper into recession and depositors are pulling their money out of the banks, figures published on Tuesday showed, while the country's most economically important region, Catalonia, said it needed a major rescue from Madrid.
GM sees Cadillac near U.S. luxury car market top soon
BIRMINGHAM, Michigan (Reuters) - General Motors Co's top Cadillac executive said the brand should be challenging foreign automakers for the top spot in U.S. luxury auto sales in two years, a position it has not held in 15 years.
German leader looks to reassure Chinese on euro
BERLIN (Reuters) - Germany's Angela Merkel makes her second trip to China in half a year this week, hoping to strengthen booming trade ties and obtain assurances from Beijing that it will support the fragile euro zone by buying the bonds of its stricken southern members.
Hong Kong regulator takes Ernst & Young to court for work papers
HONG KONG/SINGAPORE (Reuters) - Hong Kong's securities regulator, in an unprecedented move, took Ernst & Young to court after the audit giant failed to turn over accounting records related to a former China-based client.
SEC charges eight men with insider trading around 2009 Sanofi deal
(Reuters) - Securities regulators on Tuesday charged eight people with illegally trading on inside information in 2009 about French pharmaceutical company Sanofi's plan to buy a Tennessee-based company that made allergy medicine and other products.
Brazil judges uphold Chevron, Transocean operating ban
RIO DE JANEIRO (Reuters) - An injunction banning No. 2 U.S. oil company Chevron Corp and its drilling contractor Transocean Ltd from operating in Brazil while charges over last November's oil spill are considered was upheld by a panel of three federal judges on Tuesday.
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