Career News 24/7: Business Today: Wall St. edges up on Intel but posts weekly decline

Friday, June 13, 2014

Business Today: Wall St. edges up on Intel but posts weekly decline

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06/13/2014

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. edges up on Intel but posts weekly decline

NEW YORK (Reuters) - U.S. stocks edged up on Friday, boosted by bullish news from the tech sector, but major indexes fell for the week as unrest in Iraq kept investors on edge.

Exclusive: Honda expects to expand Takata airbag recall by more than 1 million cars - source

TOKYO (Reuters) - Honda Motor Co expects to recall more than 1 million more vehicles with potentially defective air bags, expanding a massive, multi-company air bag recall, according to a person with knowledge of the matter.

GM's safety crisis deepens with Camaro switch recall

DETROIT (Reuters) - General Motors Co recalled 511,528 Chevrolet Camaros on Friday for an ignition switch problem similar to the defect linked to at least 13 deaths in Chevrolet Cobalts and other models. GM said it was aware of minor accidents and no fatalities from the Camaro. It said the switch defect in the new recall was not related to the problem in the Cobalts.

U.S. producer prices fall, but inflation still seen firming

WASHINGTON (Reuters) - U.S. producer prices fell in May after two month of solid gains, but the decline was not enough to change perceptions that inflation pressures are steadily creeping up.

U.S. to sue Citigroup over faulty mortgage bonds: sources

WASHINGTON/NEW YORK (Reuters) - The U.S. Department of Justice is preparing to sue Citigroup Inc on charges that the bank defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis, after talks to resolve the probe broke down, people familiar with the matter said on Friday.

Ackman sues Allergan over questions about poison pill

(Reuters) - William Ackman's Pershing Square Capital Management on Friday it filed a lawsuit against Allergan Inc seeking confirmation that its request to hold a special meeting of Allergan shareholders would not trigger poison pill takeover defense.

Alitalia board votes to accept Etihad offer, rapidly do deal: CEO

ROME (Reuters) - The board of Italy's troubled airline Alitalia on Friday voted to accept an offer by Etihad Airways to invest in the company, and said it would move quickly to conclude the tie-up, the company's chief executive said.

Chesapeake shareholders approve big governance reforms

HOUSTON (Reuters) - Chesapeake Energy Corp shareholders on Friday approved a series of reforms that included the elimination of three-year terms for directors, deepening an overhaul that began in the months preceding the 2013 ouster of former Chief Executive Officer Aubrey McClendon.

LinkedIn must face customer lawsuit over email addresses

(Reuters) - A federal judge said LinkedIn Corp must face a lawsuit by customers who claimed it violated their privacy by accessing their external email accounts, downloading their contacts' email addresses and soliciting business from those contacts.

Siemens and Mitsubishi finalize Alstom offer

MUNICH/PARIS (Reuters) - Germany's Siemens and Japan's Mitsubishi Heavy Industries are putting the finishing touches on a joint offer for Alstom's turbine businesses that includes a cash element of roughly 9 billion euros ($12.25 billion), sources close to the bidders said.