Business Today: S&P 500 ends at record high for second straight session

	Click to View in Browser 05/27/2014 S&P 500 ends at record high for second straight session NEW YORK (Reuters) - The S&P 500 closed at a record high for a second straight session on Tuesday, buoyed by the latest round of merger activity and as expectations for rate cuts at the European Central Bank stoked investors' appetite for equities. U.S. factory, confidence data boost growth prospects WASHINGTON, May 27 (Reuters) - Orders for long-lasting U.S. manufactured goods unexpectedly rose in April and consumer confidence perked up in May, supporting views of a rebound in economic growth. Pilgrim's bid for Hillshire puts Pinnacle deal in peril (Reuters) - Pilgrim's Pride Corp on Tuesday offered to buy Hillshire Brands Co in an all-cash deal valued at $6.4 billion, as the world's second-largest chicken processor seeks to expand its protein footprint with Hillshire's sausages and lunch meats. Allergan makes case against Valeant takeover ahead of higher bid (Reuters) - Allergan Inc on Tuesday built its case with investors for rejecting a $47 billion takeover offer from Valeant Pharmaceuticals International, , saying the Canadian drugmaker has overstated the possible savings from the deal. Citigroup sees second quarter markets revenue down as much as 25 percent: CFO NEW YORK (Reuters) - Markets revenue at Citigroup Inc is expected to decline between 20 and 25 percent in the second quarter from a year earlier because of lackluster fixed-income trading, Chief Financial Officer John Gerspach said on Tuesday. BofA's investment bank aims to be more diversified, global NEW YORK (Reuters) - Bank of America Corp is looking to diversify its investment banking business by doing more equity underwriting and merger advisory work and by winning more clients outside the United States, a senior executive said on Tuesday. Ex-Goldman trader Tourre says won't appeal SEC case TeNEW YORK (Reuters) - Former Goldman Sachs Group Inc trader Fabrice Tourre said Tuesday he would not appeal an order requiring he pay more than $825,000 after a jury found him liable for defrauding investors in a failed mortgage deal. Pimco rehires Paul McCulley, now as chief economist NEW YORK (Reuters) - Pacific Investment Management Co said on Tuesday it has rehired Paul McCulley, a former portfolio manager and top U.S. Federal Reserve watcher at the bond giant, in its latest reshuffle after the high-profile departure of former chief executive Mohamed El-Erian earlier this year. GE, Siemens defend rival plans for France's Alstom PARIS (Reuters) - General Electric and Siemens defended rival proposals to buy the power arm of Alstom on Tuesday, both assuring France that its prized engineering firm would emerge strengthened, including in its remaining transport business. Airbus Group CEO keeping options open on new term AMSTERDAM (Reuters) - Airbus Group Chief Executive Tom Enders has ruled out taking another job in aerospace or going into politics when he eventually decides to step down from Europe's largest aerospace group - but is not yet ready to say when that will be. Related Video EU vote poses policy dilemma Inclusive Capitalism: can it work? Economic News U.S. consumer confidence rises in May U.S. services sector expands at faster pace in May: Markit 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