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Wednesday, May 28, 2014

Daily Investor Briefing: Wall St. dips; S&P ends four-day...

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05/28/2014

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. dips; S&P ends four-day streak of gains

NEW YORK (Reuters) - U.S. stocks ended down slightly on Wednesday as an absence of economic catalysts put technicals in focus, with the S&P 500 ending the session just shy of a third straight record closing high. The S&P 500 also broke a four-day streak of gains.

Valeant injects cash into bid for Botox maker Allergan

(Reuters) - Canada's Valeant Pharmaceuticals International Inc raised the cash component of its unsolicited offer for Botox maker Allergan Inc on Wednesday, but the increased bid fell short of expectations and both stocks dropped.

GE strengthens hand in Alstom battle with pledge on jobs

PARIS (Reuters) - General Electric (GE) strengthened its position in the battle for the power arm of French group Alstom on Wednesday with a pledge to create new jobs in France and recognition from Paris that it had made a more acceptable offer.

Long sentence for ex-SAC trader Martoma appropriate: court officials

NEW YORK (Reuters) - A prison sentence approaching 20 years would be an appropriate punishment for Mathew Martoma, a former SAC Capital Advisors LP fund manager convicted of insider trading, U.S. court officials said, prompting his lawyers to object strenuously.

Deutsche Bank braced for fines in forex probes: sources

FRANKFURT (Reuters) - Deutsche Bank AG is preparing for fines in connection with investigations into possible manipulation of emerging markets currency rates and is also braced for civil lawsuits, two sources familiar with the views of the bank's management said.

Boeing 787 receives U.S. approval for extended operations

WASHINGTON (Reuters) - The U.S. Federal Aviation Administration on Wednesday approved extended operations for Boeing's 787 Dreamliner, a move that will allow a wider range of routes and that marks a vote of confidence in the high-tech jet at a time of renewed scrutiny.

UK fraud office probes GSK after claims of foreign bribery

LONDON (Reuters) - Britain's fraud office has launched a formal criminal investigation into GlaxoSmithKline , posing a new challenge to the drugmaker, which already faces claims of bribery in China and four other countries.

Hutchison wins EU approval for $1 billion O2 Ireland deal

BRUSSELS (Reuters) - Hong Kong-based Hutchison Whampoa got the approval of the European Union's competition authority on Wednesday for its $1 billion bid for Telefonica's Irish mobile business in a case that could set the regulatory tone for Telefonica's bigger pending German merger deal.

Porsche inspects 2,500 Macan models for possible brake problems

FRANKFURT (Reuters) - Porsche is inspecting 2,500 of its new Macan off-road vehicles to check for faulty brakes after quality tests revealed that some brake booster units may have been damaged during the assembly process, the carmaker said on Wednesday.

Chevron shareholders reject independent chairman

MIDLAND Texas (Reuters) - Shareholders of Chevron Corp , the second-largest U.S. oil company, rejected a proposal on Wednesday to split the roles of chairman and chief executive, both currently held by John Watson.