Career News 24/7: Before the Bell: Wall St. to open lower as momentum stocks stay weak

Monday, April 7, 2014

Before the Bell: Wall St. to open lower as momentum stocks stay weak

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04/7/2014

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 St. to open lower as momentum stocks stay weak

NEW YORK (Reuters) - U.S. stocks were set for a lower open on Monday, putting the S&P 500 on track for its third straight decline, as weakness in momentum names that sent the Nasdaq and benchmark S&P index to their worst drop since February in the prior session appeared poised to continue.

Exclusive: SEC forms squad to examine private funds - sources

NEW YORK/WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission (SEC) has put together a dedicated group to examine private equity and hedge funds, after the 2010 Dodd-Frank law required the funds to be regulated, according to people familiar with the matter.

Credit Suisse faces threat of new U.S. tax probe

ZURICH (Reuters) - Credit Suisse faces the threat of a new investigation into its role in helping wealthy Americans avoid paying taxes after New York state's top financial regulator requested documents from the Swiss bank.

India's Sun Pharma to buy struggling Ranbaxy for $3.2 billion as Daiichi Sankyo retreats

TOKYO/MUMBAI (Reuters) - India's Sun Pharmaceutical Industries Ltd has agreed to buy generic drugmaker Ranbaxy Laboratories Ltd for $3.2 billion, betting it can fix factory quality glitches that plagued the current owner, Japan's Daiichi Sankyo Co , and got Ranbaxy India-made drugs barred from the United States.

Airbus keeps tight rein on cabin design as A350 launch nears

HAMBURG (Reuters) - European planemaker Airbus unveiled on Monday the first cabin for its new mid-sized twin-engined airliner, the A350 XWB, vowing to avoid a repeat of the delays caused by cabin design changes on its bigger A380 super jumbo.

World Bank trims China, East Asia 2014 growth forecasts

SINGAPORE (Reuters) - The World Bank trimmed its 2014 growth forecast for developing East Asia but said the region's economies were likely to see steady growth in the next couple of years, helped by a pick-up in global growth and trade.

BlackRock shakes up management amid succession planning

NEW YORK (Reuters) - BlackRock Inc is reorganizing its senior management ranks as the world's largest money manager works towards an eventual succession plan for Larry Fink, its chief executive officer and co-founder.

New French finance minister promises 'tough, brave' decisions on deficit

BERLIN (Reuters) - France's new Finance Minister Michel Sapin said alongside his German counterpart Wolfgang Schaeuble on Monday any measures to cut the French public deficit will come from growth and savings, promising to take "tough, brave" decisions on the economy.

Lufthansa orders CFM for 40 A320neo aircraft

FRANKFURT (Reuters) - German airline Lufthansa said on Monday it had ordered engines worth more than 1 billion euros ($1.4 billion) at list prices from CFM International.

Dark markets may be more harmful than high-frequency trading

NEW YORK (Reuters) - Fears that high-speed traders have been rigging the U.S. stock market went mainstream last week thanks to allegations in a book by financial author Michael Lewis, but there may be a more serious threat to investors: the increasing amount of trading that happens outside of exchanges.