Business Today: S&P 500 ends at five-year high on banks, materials

	Click to View in Browser 01/22/2013 S&P 500 ends at five-year high on banks, materials NEW YORK (Reuters) - Bank and commodity shares led the Standard & Poor's 500 to a fresh five-year closing high on Tuesday on hopes that the global economy continues to mend. Google fourth quarter revenue outpaces Street targets, shares climb SAN FRANCISCO (Reuters) - Revenue from Google Inc's core Internet business outpaced many analysts' expectations during the crucial holiday quarter and advertising rates fell less than in previous periods, pushing its shares up more than 4 percent. IBM fourth-quarter earnings and revenue beat Street (Reuters) - IBM, the world's largest technology services company, reported fourth-quarter earnings and revenue that beat estimates on the back of growth in emerging markets. Wells Fargo increases quarterly dividend by 14 percent (Reuters) - Wells Fargo & Co on Tuesday increased its quarterly stock dividend by 3 cents, or 14 percent, to 25 cents per share. Home resales fall, housing recovery still on track WASHINGTON (Reuters) - Home resales unexpectedly fell in December, but the drop was not large enough to suggest the recovery in the housing sector is running out of steam. Ex-Goldman director Gupta seeks conviction reversal NEW YORK (Reuters) - Lawyers for former Goldman Sachs Group Inc board member Rajat Gupta are urging a federal appeals court to reverse his insider trading conviction, arguing that a judge shouldn't have allowed wiretaps to be heard at trial. Stanford ex-CFO Davis gets five-year prison sentence HOUSTON (Reuters) - James Davis, the government's top witness in convicted swindler Allen Stanford's fraud trial, was sentenced on Tuesday to five years in prison for his role in a $7 billion Ponzi scheme. McDonald's running low on quick fixes for U.S. sales (Reuters) - McDonald's Corp is running out of quick-fix strategies for stemming declines in U.S. restaurant sales inflicted by tougher competition for customers who are pinching pennies in a weak economic recovery. GM ups the ante in talks over Opel factory closure FRANKFURT/BERLIN (Reuters) - General Motors said on Tuesday it may close a German factory at its Opel subsidiary earlier than proposed adding restructuring talks with unions must be wrapped up by February, as the U.S. carmaker seeks deep cuts to save its ailing brand. Slumping pigment demand eats into DuPont's profit (Reuters) - Weak demand for paint pigment and solar panel parts eroded DuPont's fourth-quarter profit, with Chief Executive Officer Ellen Kullman tempering expectations for those once-lucrative markets due to "significant challenges." Related Video GAIM 2013: Stocks the place to be, even if yields rise-Wolff GAIM 2013: Cairn's Jackson sees big gains in European credit Economic News Trade Representative Kirk to step down in late February New York's budget would close $1.3 billion gap without new taxes 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