Business Today: Wall Street ends higher but biotech selloff weighs

	Click to View in Browser 03/28/2014 Wall Street ends higher but biotech selloff weighs NEW YORK (Reuters) - U.S. stocks ended up on Friday but off their session highs as a late afternoon selloff in the biotechnology sector weighed on the overall market. PwC is sued for $1 billion over MF Global collapse NEW YORK (Reuters) - The administrator of MF Global Holdings Ltd's bankruptcy plan on Friday sued the auditor PricewaterhouseCoopers for at least $1 billion over its advice on a $6.3 billion European sovereign debt investment that helped fuel the brokerage's rapid demise. Caterpillar to face U.S. Senate panel on offshore taxes WASHINGTON (Reuters) - Caterpillar Inc's offshore tax strategies will come under scrutiny on Tuesday at a U.S. Senate hearing expected to examine dealings by the world's largest mining and construction equipment maker in Switzerland, Bermuda and Luxembourg. BlackBerry revenue plunges 64 percent, shares drop TORONTO (Reuters) - BlackBerry Ltd reported a smaller-than-expected loss on Friday as new chief executive John Chen slashed costs, but a 64 percent drop in revenue underscored the challenge Chen faces in turning around the struggling smartphone maker. BMW to invest $1 billion to expand U.S. production by 50 percent SPARTANBURG, SOUTH CAROLINA (Reuters) - BMW will expand production capacity in the United States by 50 percent and introduce another new offroad model, the German luxury carmaker said on Friday, in what amounts to a $1 billion bet on sport utility vehicles (SUVs). Fed's George wants end to zero rates, does not say when KANSAS CITY, Missouri (Reuters) - A top Federal Reserve official who has often warned of the risks of keeping U.S. interest rates too low for too long said on Friday she wants to see how winding down the Fed's massive bond-buying stimulus goes before setting out any path for rate hikes. U.S. consumers lift spending, but sentiment slips WASHINGTON (Reuters) - U.S. consumers stepped up spending a bit in February as incomes increased for a second straight month, offering hope the economy was regaining its footing after being slammed by an unusually cold winter. SEC says shuts cloud computing scam targeting Asians, Hispanics (Reuters) - The U.S. Securities and Exchange Commission on Friday said it has shut down a worldwide pyramid scheme that falsely promised fast gains to tens of thousands of Asian-American, Hispanic and foreign investors from cloud computing services. U.S. safety regulators close investigation into Tesla fires (Reuters) - U.S. safety regulators on Friday said they had closed an investigation into several fires in Tesla Model S electric sports cars after determining the incidents were not likely to become a trend, which sent the company's shares up as much as 4.5 percent. French watchdog calls for more transparent SFR bid talks PARIS (Reuters) - French market regulator AMF has asked Vivendi, cable firm Numericable, its parent Altice and rival bidder Bouygues for more transparency in their talks over a takeover of Vivendi's telecom unit SFR. Related Video Breakingviews: U.S. gas no Putin pummeler West End searches for musicals mojo Economic News U.S. consumers lift spending, but sentiment slips Fed's George wants end to zero rates, does not say when 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