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Monday, July 8, 2013

Business Today: Wall Street rises as attention turns to earnings season

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07/8/2013
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Wall Street rises as attention turns to earnings season
NEW YORK (Reuters) - Stocks advanced on Monday heading into the start of earnings season, building on gains sparked by last week's robust employment report and pushing the S&P 500 closer to its all-time high set in May.
Clearwire shareholders vote for Sprint takeover
BELLEVUE, Washington (Reuters) - Shareholders in Clearwire Corp voted on Monday to approve majority owner Sprint Nextel Corp's buyout of the rest of the company, ending a six-month battle for control of the small U.S. wireless operator.
Alcoa posts quarterly profit on broad productivity gains
TORONTO (Reuters) - Alcoa Inc reported a larger-than-expected profit on Monday on the back of productivity gains across all its units and a strong performance from its engineered products and solutions business.
Consumer credit rises by most in a year
WASHINGTON (Reuters) - Consumer credit increased in May by the most in a year, a sign low borrowing costs were boosting economic growth although interest rates have since risen.
Euro zone grants multi-billion euro lifeline for Greece
BRUSSELS (Reuters) - Greece secured a lifeline from the euro zone and the IMF on Monday but was told it must keep its promises on cutting public sector jobs and selling state assets to get all the cash.
Top advisory firm backs Dell CEO's offer for PC maker
(Reuters) - The largest U.S. shareholder advisory firm recommended on Monday that Dell Inc stockholders vote in favor of Chief Executive Michael Dell's $24.4 billion buyout offer, increasing the odds of his prevailing against billionaire investor Carl Icahn's rival bid.
Citi names two new board members
(Reuters) - Citigroup Inc added two directors on Monday as Chairman Mike O'Neill moved to provide the board with more experience in corporate information systems and auditing.
Two more journalists from Murdoch's UK titles to be charged
LONDON (Reuters) - The head of news at Rupert Murdoch's British Sun tabloid is to be charged with authorizing illegal payments to police and army officials, prosecutors said on Monday, the latest senior figure from the media mogul's newspapers to face criminal charges.
Supreme Court asked to review leaked Verizon ruling
WASHINGTON (Reuters) - A civil liberties group is taking the unusual step of asking the Supreme Court to review a ruling by a secretive intelligence court that authorized government access to millions of Verizon Communications Inc phone call records
Bangladesh tells EU it will boost worker rights, inspections
GENEVA (Reuters) - Bangladesh pledged on Monday to quickly boost worker rights and recruit more factory inspectors as it seeks to preserve European Union trade benefits after 1,129 workers were killed in the collapse of a garment plant in April.
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