Business Today: Wall St. ends up in late-day bounce with small caps

	Click to View in Browser 05/16/2014 Wall St. ends up in late-day bounce with small caps NEW YORK (Reuters) - U.S. stocks closed higher on Friday in a late rebound as small-cap names edged up after recent weakness and consumer discretionary shares rose. GM to pay maximum U.S. fine for delaying response to faulty ignitions WASHINGTON (Reuters) - General Motors Co was slapped on Friday with a $35 million U.S. fine for its delayed response to an ignition switch defect in millions of vehicles. At big-ticket dinners, a blunt Bernanke sounds theme of low rates NEW YORK/BOSTON (Reuters) - In a series of quarter-million-dollar dinners with wealthy private investors, Ben Bernanke has been clearer than he ever was as chairman of the Federal Reserve on his expectations that easy-money policies and below-normal interest rates are here for a long time to come, according to some of those in attendance. Demand for rental units buoys housing starts WASHINGTON (Reuters) - U.S. housing starts jumped in April and building permits hit their highest level in nearly six years, offering hope the troubled housing market could be stabilizing. Boeing vows to fight unfair U.S. labor practices ruling SEATTLE (Reuters) - Boeing Co vowed on Friday to contest a ruling that found the plane maker committed unfair labor practices against its unionized engineers near Seattle and in Portland, Oregon, when it photographed and videotaped workplace marches in 2012. SAC's Steinberg gets 3-1/2 years prison for insider trading NEW YORK (Reuters) - Michael Steinberg, a portfolio manager at Steven A. Cohen's SAC Capital Advisors hedge fund, was sentenced on Friday to 3-1/2 years in prison for insider trading. Sweden fights back as Pfizer move on Astra threatens jobs STOCKHOLM (Reuters) - The Swedish government launched a fightback on Friday against U.S. drugmaker Pfizer's proposed takeover of AstraZeneca , which has half its roots and more than 5,000 staff in Sweden, highlighting the risks to jobs and science. Abbott to buy Latin American drugmaker CFR in $2.9 billion deal (Reuters) - Abbott Laboratories said on Friday it would acquire Chile's CFR Pharmaceuticals SA in a $2.9 billion deal that will more than double its branded generic drugs business in the fast-growing Latin American market. EU may challenge $8.7 billion U.S. tax breaks in Boeing-Airbus trade dispute: sources PARIS (Reuters) - The European Union is considering raising the pressure on the United States in the world's largest trade dispute by challenging tax breaks that encouraged planemaker Boeing to keep production of its latest jet in Washington state, people familiar with the matter said on Friday. Fed's Bullard says inflation, job goals 'within sight' LITTLE ROCK (Reuters) - The U.S. economy is within sight of the Federal Reserve's inflation and employment goals, and is expected to grow at a "robust" pace for the rest of the year, St. Louis Federal Reserve Bank President James Bullard said on Friday. Related Video Gaffen and Garnick on the Markets: Mind the small-cap gap Kenya tourism ''on knees'' amid violence Economic News Demand for rental units buoys housing starts Fed's Bullard says inflation, job goals 'within sight' 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