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Thursday, March 27, 2014

Business Today: Wall Street slips as banks, techs drag; S&P flat for 2014

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03/27/2014
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Wall Street slips as banks, techs drag; S&P flat for 2014
NEW YORK (Reuters) - U.S. stocks fell on Thursday, erasing most of the S&P 500's year-to-date gain, as banking and technology stocks led the selloff.
Microsoft CEO signals new course with Office for iPad
SAN FRANCISCO (Reuters) - Microsoft Corp's new CEO Satya Nadella finally unveiled Office for Apple Inc's iPad in a polished debut that set him apart from his energetic predecessor while signaling his plans to make mobile apps the top priority at the world's largest software company.
U.S. senator urges GM to tell owners of recalled cars not to drive them
WASHINGTON (Reuters) - General Motors should promptly warn consumers not to drive GM cars recalled because of faulty ignition switches that can unexpectedly turn off engines and air bags as the vehicles are running, U.S. Senator Richard Blumenthal said on Thursday.
U.S. economy shows some muscle, housing still weak
WASHINGTON (Reuters) - The U.S. economy grew a bit faster than previously estimated in the fourth quarter and new claims for jobless aid dropped to a near four-month low last week, suggesting the economy has plenty of momentum to break out of its winter chill.
Comcast's Cohen to testify on Time Warner Cable merger
WASHINGTON (Reuters) - Comcast Corp's Executive Vice President David Cohen will testify at a hearing in the U.S. Senate on April 9 about his company's plans to buy Time Warner Cable Inc, a Comcast spokeswoman said on Thursday.
SEC's Gallagher seeks reforms to stop activist shareholder proposals
WASHINGTON (Reuters) - U.S. corporate governance rules make it too easy for activist investors to get politically driven shareholder proposals onto public company ballots and should be overhauled, a top U.S. Securities and Exchange Commission official said Thursday.
Alstom shares sink on risk of fine in U.S. bribery probe
PARIS/WASHINGTON (Reuters) - Alstom shares fell sharply on investors' fears that the French engineering firm could face a heavy fine from the U.S. Justice Department as a result of a bribery investigation that has spread across Asia.
Ex-Dewey finance director admits accounting was false
NEW YORK (Reuters) - Dewey & LeBoeuf's ex-finance director pleaded guilty to grand larceny last month and admitted he knew false financial statements were being provided to the firm's lenders, according to court documents unsealed on Thursday.
Vivendi to examine Bouygues SFR offer: sources
PARIS (Reuters) - Vivendi will examine the latest Bouygues offer for its SFR telecoms subsidiary while respecting a three-week exclusivity period for talks with a rival bidder, two sources familiar with the matter said.
Qatar buys helicopters, missiles in $23 billion arms deals
DOHA (Reuters) - Qatar announced contracts worth about $23 billion on Thursday to buy attack helicopters, guided missiles, tankers and other weapons from Boeing Co , Airbus and other arms makers as the Gulf state accelerates its military build-up.
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