Business Today: Apple takes wraps off cheaper, multi-hued iPhone 5C

	Click to View in Browser 09/10/2013 Apple takes wraps off cheaper, multi-hued iPhone 5C CUPERTINO, California (Reuters) - Apple Inc introduced two new iPhones on Tuesday, including an "iPhone 5C" that comes in five colors and starts at $99, priced to bring one of the industry's costliest smartphones within reach of the masses in poorer emerging markets. S&P 500 gains for sixth straight session, Apple falls NEW YORK (Reuters) - Stocks rose on Tuesday, with the S&P 500 index advancing for its longest stretch since early July, as an alternative proposal emerged that could avert a possible Western military strike on Syria. Dow Jones index announces biggest shake-up in a decade NEW YORK (Reuters) - In the biggest shake-up of the Dow Jones industrial average in nearly a decade, Goldman Sachs, Visa and Nike will join the storied 30-stock index, with Bank of America, which just two years ago was the largest U.S. bank by assets, one of the names exiting the Dow. Insight: U.S. banks surrender future profit for capital relief now NEW YORK (Reuters) - U.S. banks are increasingly giving up the right to sell tens of billions of securities in their investment portfolios, a shift that helps them avoid the pain of weaker bond markets but will cut into future profits as interest rates rise. Europe's carmakers warn of more cuts in weak recovery FRANKFURT (Reuters) - European carmakers need to close more factories and cut more jobs, executives at the Frankfurt car show said on Tuesday, warning any recovery in demand was likely to be long and slow as unemployment remained high and bank lending weak. U.S. judge approves $72 million settlement with Berkshire's Gen Re NEW YORK (Reuters) - A U.S. judge on Tuesday approved a $72 million settlement to resolve shareholder claims that Berkshire Hathaway Inc's General Re Corp engaged in a sham deal that helped inflate American International Group Inc's reserves. EU telecoms chief gets backing for reform package BRUSSELS (Reuters) - The European Union Commission has approved a plan to spur investment in communications networks and create a single market for telecoms services despite concerns that some parts may favor big operators, two officials said on Tuesday. Trump outlines plans for luxury hotel in Washington landmark WASHINGTON (Reuters) - Real estate mogul Donald Trump vowed on Tuesday to turn a towering Washington landmark into one of the world's top luxury hotels, part of a rejuvenation of the U.S. capital's downtown. Morgan Stanley keeps eye on expenses as legal costs rise: CFO NEW YORK (Reuters) - Morgan Stanley is focused on cost-cutting, as legal expenses remain high and revenue has slowed in a seasonally weak period for trading and investment banking, Chief Financial Officer Ruth Porat said on Tuesday. U.S. government selling last of its Citigroup bailout securities (Reuters) - Nearly five years after bailing out Citigroup Inc in the financial crisis, the U.S. government is selling the last of its interests in the company. Related Video Daily Digit: $270 bln change to Dow Breakingviews: Missing the mark Economic News ECB's Asmussen sees risk of large spillovers from Fed tightening U.S. Fed expected to forge ahead with modest cut to QE3 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