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Friday, June 6, 2014

Business Today: Jobs report takes Dow, S&P to fresh record highs

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06/6/2014
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
Jobs report takes Dow, S&P to fresh record highs
NEW YORK (Reuters) - U.S. stocks rose on Friday, with the Dow and the S&P 500 closing at records, after the May payrolls report provided the latest confirmation of improving economic conditions.
GM sets four more recalls, covering over 105,000 vehicles
DETROIT (Reuters) - General Motors Co on Friday announced four more recalls covering 105,688 cars and trucks globally, raising the number of recalls to 34 including the high-profile for defective ignition switches linked to at least 13 deaths.
U.S. recoups jobs lost in recession as economy picks up
WASHINGTON (Reuters) - U.S. employment returned to its pre-recession peak in May with a solid pace of hiring that offered confirmation the economy has snapped back from a winter slump.
Exclusive: As bank fines soar, U.S. threatened $16 billion BNP penalty
WASHINGTON/NEW YORK (Reuters) - U.S. authorities negotiating with BNP Paribas over alleged sanctions violations at one point suggested that France's biggest bank pay a penalty as high as $16 billion, according to people familiar with the matter.
U.S. consumer credit surges on increased credit card use
WASHINGTON (Reuters) - U.S. consumer credit surged in April as Americans ramped up their use of credit cards, a potentially positive sign for consumer spending.
Economy needs to tighten up before rates can rise: Fed's Powell
LONDON (Reuters) - Federal Reserve Governor Jerome Powell said on Friday that he wanted to see signs that the U.S. economy was tightening up before before interest rates could be raised.
Wal-Mart appoints Walton family member as vice chairman
(Reuters) - Wal-Mart Stores Inc appointed Gregory Penner as vice chairman, showing again that the world's largest retailer is looking at younger executives to revive its fortunes.
Big risks seen in Putin's idea to beef up Gazprom
MOSCOW (Reuters) - President Vladimir Putin's idea of a massive boost to Gazprom's share capital has taken bankers and the energy industry by surprise, with some fearing it could further strain Russia's sanctions-hit economy and undermine the rouble.
Bank of America could pay at least $12 billion to settle probes: report
(Reuters) - Bank of America Corp could pay more than $12 billion to settle probes by the U.S. Justice Department and a number of states into the bank's alleged handling of shoddy mortgages, the Wall Street Journal said on Thursday, citing people familiar with the negotiations.
SEC charges Liquidnet, Wedbush with regulatory violations
WASHINGTON (Reuters) - U.S. securities regulators filed civil lawsuits on Friday against a "dark pool" trading venue and a major brokerage firm as part of a crackdown on market structure rule violations.
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