Business Today: Wall Street falls as worry rises over life without stimulus

	Click to View in Browser 06/12/2013 Wall Street falls as worry rises over life without stimulus NEW YORK (Reuters) - Stocks fell on Wednesday, with the Dow sliding more than 100 points on another volatile day as traders extended a selloff driven by concern about central banks winding down their stimulus measures. India's Apollo Tyres to buy Cooper Tire for $2.5 billion (Reuters) - India's Apollo Tyres Ltd agreed to buy U.S.-based Cooper Tire & Rubber Co for about $2.5 billion in a deal that would make it the world's seventh-largest tire maker and reduce its dependence on a slowing Indian auto market. Yellen overwhelming favorite to replace Bernanke at Fed: Reuters poll WASHINGTON (Reuters) - Janet Yellen, the Federal Reserve's powerful vice chair, is by far the most likely candidate to replace Ben Bernanke when his second term at the helm of the U.S. central bank ends early next year, according to a Reuters poll of economists. GM targets investment grade rating 'within the year' DETROIT (Reuters) - General Motors Co on Wednesday said it is targeting an investment grade credit rating "within the year" as the automaker works to distance itself from the stigma of its 2009 bankruptcy. Chrysler sets terms of $3 billion loan refinancing NEW YORK (Reuters) - Chrysler Group LLC set terms on a loan refinancing that will clear the way for Italy's Fiat to buy the rest of the U.S. carmaker that it does not already own. Exxon to run more tests on ruptured Arkansas oil pipeline NEW YORK (Reuters) - Exxon Mobil Corp was granted time by regulators to carry out a second round of testing on the ruptured Pegasus oil pipeline, after the firm said an initial investigation into the reason the nearly 70-year-old line failed was not conclusive. Sobey's parent Empire Co to buy Safeway Canada for C$5.8 billion TORONTO (Reuters) - Empire Company Ltd , parent of Canada's No. 2 grocer Sobey's, said on Wednesday it is acquiring the Canadian arm of Safeway Inc. for C$5.8 billion ($5.70 billion) in cash. RBS boss Hester to step down this year LONDON (Reuters) - Royal Bank of Scotland boss Stephen Hester will step down later this year, after the bank's board decided it wanted new leadership to oversee the sale of Britain's majority stake in the bank, which could take years. Madoff's UK unit was "warehouse for stolen money": liquidators' representative LONDON (Reuters) - U.S. fraudster Bernard Madoff used his London-based company to "warehouse" huge amounts of money stolen from the Ponzi scheme and buy luxury items for himself, a court heard on Wednesday. Nasdaq appoints Tom Wittman to head its U.S. stock market NEW YORK (Reuters) - Nasdaq OMX Group has appointed Tom Wittman to head the No. 2 U.S. stock market as part of a broader management shift aimed at better aligning its products across the equities, options and futures asset classes. Related Video Market turmoil more about perception than reality-columnists Techquity: HP is the best and fourth best, Google praised Economic News Yellen overwhelming favorite to replace Bernanke at Fed: Reuters poll U.S. budget gap widens slightly in May to $139 billion 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