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| Dell sees buyout vote as too close to call, mulls delay: source Tuesday, Jul 16, 2013 12:41 PM PDT  (Reuters) - Dell Inc may delay a shareholder meeting on a $24.4 billion buyout offer from founder Michael Dell and private equity firm Silver Lake Partners, with the pivotal vote too close to call, a person familiar with the matter said on Tuesday. The board of the No. 3 PC maker is considering the delay as part of contingency planning for the vote, which is now scheduled for Thursday, July 18, the person said. ... Full Story | Top |
| First glimpse at Canada disaster site shows scale of devastation Tuesday, Jul 16, 2013 12:39 PM PDT  By Phil Wahba LAC-MEGANTIC, Quebec (Reuters) - Street lights melted and heavy rail lines buckled into a 5-foot arch after the explosion of a runaway train in the little Quebec town of Lac-Megantic, where police on Tuesday gave outsiders a first, closely monitored look at the edges of the devastation. "Go in, listen, be silent and understand, and explain to the world what happened here," Quebec police Lieutenant Michel Brunet told a small group of journalists who have been reporting on the disaster, which killed 50 people and destroyed the center of this lakeside town near the Maine border. ... Full Story | Top |
| In setback for broadcasters, U.S. court won't rehear Aereo appeal Tuesday, Jul 16, 2013 12:34 PM PDT By Erin Geiger Smith NEW YORK (Reuters) - In another win for Barry Diller's IAC-backed Aereo Inc, a U.S. appeals court declined on Tuesday to rehear an appeal by the major broadcasters seeking to temporarily shut down the online television start-up. The broadcasters, including Walt Disney Co's ABC and Comcast Corp's NBCUniversal, contend Aereo infringes their copyrights. In April, a panel of the U.S. 2nd Circuit Court of Appeals refused to close down Aereo while a lawsuit over the service continued in Manhattan federal court. ... Full Story | Top |
| Cconsumer agency chief Cordray heads toward confirmation Tuesday, Jul 16, 2013 12:32 PM PDT  By Emily Stephenson WASHINGTON (Reuters) - The Senate on Tuesday moved toward confirming a director of the Consumer Financial Protection Bureau, ending a two-year standoff in Congress and putting the new agency on sounder legal footing. Democrats overcame long-held Republican objections to end debate over Richard Cordray's nomination to head the bureau, which was created by the 2010 Dodd-Frank Wall Street reform law. ... Full Story | Top |
| Wall St. retreats on day after highs as Coca-Cola drags Tuesday, Jul 16, 2013 12:32 PM PDT  By Caroline Valetkevitch NEW YORK (Reuters) - Stocks fell on Tuesday after disappointing sales from Coca-Cola and as investor caution took hold on the day before the Federal Reserve chairman's congressional testimony. The market's pullback came a day after both the Dow and the S&P 500 ended at record closing highs for the third consecutive session. Tuesday's decline put the S&P 500 on track to break an eight-day string of gains. Nine of the 10 S&P 500 industry sector indexes fell, with energy and material shares ranking among the day's worst performers. Marathon Petroleum dropped 4. ... Full Story | Top |
| Global shares, dollar fall day before Bernanke testimony Tuesday, Jul 16, 2013 12:30 PM PDT  By Herbert Lash NEW YORK (Reuters) - The dollar eased and U.S. stocks fell on Tuesday, snapping an eight-day advance by the benchmark S&P 500 index, as investors took a cautious stance ahead of the Federal Reserve chief's testimony to a U.S. congressional panel on Wednesday. Analysts expect Fed Chairman Ben Bernanke to reiterate previous remarks that U.S. monetary policy will remain accommodative. But investors will look for clues as to when the U.S. central bank might start reducing its bond-buying program. ... Full Story | Top |
| Microsoft asks U.S. government for freedom to disclose security requests Tuesday, Jul 16, 2013 12:25 PM PDT  SEATTLE (Reuters) - Microsoft Corp said on Tuesday it has written to the U.S. Attorney General to ask for more freedom to disclose how it handles requests from national security organizations for customer data. The appeal comes a week after the Guardian newspaper reported that Microsoft allowed U.S. security agencies to circumvent encryption of Outlook emails and capture Skype online chats, citing leaked documents provided by Edward Snowden. ... Full Story | Top |
| Investors wary of rising mortgage rates despite strong builder confidence Tuesday, Jul 16, 2013 12:23 PM PDT By Sagarika Jaisinghani (Reuters) - An odd thing happened after data released Tuesday showed that the homebuilder confidence index rose to its highest level in almost eight years - housing stocks barely moved on the news. Wary of rising mortgage rates, investors are choosing to stay on the sidelines rather than celebrate indications of a firming economic recovery. Homebuilder confidence rose in July to its strongest level in 7-1/2-years as tightening supply and solid demand fueled the sector's recovery, data from the National Association of Home Builders released on Tuesday showed. ... Full Story | Top |
| Goldman Sachs profit doubles on investment gains, lower tax rate Tuesday, Jul 16, 2013 12:07 PM PDT  By Lauren Tara LaCapra (Reuters) - Goldman Sachs Group Inc on Tuesday said quarterly profit doubled, boosted by investment gains and a lower tax rate, but investors fretted that these factors will not be repeated in future periods, sending the bank's shares lower. Goldman's investing and lending segment, which tracks its investments in private equity deals, publicly traded stocks, loans and bonds, produced nearly seven times as much revenue in the second quarter as in the same period last year, much more than analysts expected. ... Full Story | Top |
| New apps do heavy lifting during the job search Tuesday, Jul 16, 2013 11:56 AM PDT  By Natasha Baker TORONTO (Reuters) - Finding a job is not easy but a range of smartphone and web apps are designed to customize employment searches and even provide information on the competition. Free apps such as SimplyHired, Indeed, and Monster, for iPhone and Android devices, provide job opportunities through a keyword search, and web-based apps, including TwitJobSearch and TweetMyJobs, will scour Twitter for opportunities and send job alerts through the social network. ... Full Story | Top |
| Fed's George calls for end to bond-buying in first-half 2014 Tuesday, Jul 16, 2013 11:31 AM PDT By Alister Bull KANSAS CITY, Missouri (Reuters) - The Federal Reserve should begin to reduce its massive bond-buying program and bring it to a close "sometime in the first half of next year," a top Fed official said on Tuesday. Should the U.S. economy grow faster than currently expected, Kansas City Fed President Esther George told an agricultural conference, it may be "appropriate" to reduce the bond-buying program at a faster pace. The Fed is buying $85 billion in Treasuries and mortgage-backed securities every month to push down long-term borrowing costs and boost investment and hiring. ... Full Story | Top |
| Redesigned Chrysler 200 sedan to begin production in early 2014 Tuesday, Jul 16, 2013 11:28 AM PDT By Joseph Lichterman STERLING HEIGHTS, Michigan (Reuters) - Chrysler Group LLC's redesigned 2015 Chrysler 200 sedan will begin production in early 2014 at the automaker's Sterling Heights plant here, Chrysler said on Tuesday. Production of the 2014 model will stop in December to allow Chrysler to prepare the plant for production of the revamped 200 and a new midsize sedan that is expected to replace the Dodge Avenger. ... Full Story | Top |
| NEC to exit smartphone business after failed deal with Lenovo: Nikkei Tuesday, Jul 16, 2013 11:28 AM PDT  (Reuters) - Japan's NEC Corp plans to exit its loss-making smartphone business after a deal with Chinese PC maker Lenovo Group Ltd failed to materialize, the Nikkei reported. The two companies have a partnership in the personal computers business and NEC was in talks with Lenovo for a deal for its smartphones operations since late 2012, the Japanese daily reported. The Japanese electronics company had offered Lenovo a majority stake in NEC Casio Mobile Communications Ltd, its subsidiary that makes smartphones. Casio Computer Co and Hitachi Ltd are among NEC Casio's current investors. ... Full Story | Top |
| NASA aborts spacewalk after leak into astronaut's helmet Tuesday, Jul 16, 2013 11:22 AM PDT By Irene Klotz CAPE CANAVERAL, Florida (Reuters) - A spacewalk to work on the International Space Station ended abruptly on Tuesday when a water-like liquid started building up inside an Italian astronaut's helmet, NASA officials said. U.S. astronaut Chris Cassidy and Italy's Luca Parmitano were less than an hour into a planned six-hour outing when Parmitano reported what seemed to be water inside his helmet. "My head is really wet and I have a feeling it's increasing," Parmitano radioed to flight controllers in Houston. ... Full Story | Top |
| Analysis: Higher interest rates? Not a problem for some U.S. stocks Tuesday, Jul 16, 2013 11:19 AM PDT  By Rodrigo Campos and Alison Griswold NEW YORK (Reuters) - So much for higher interest rates taking a bite out of the stock market. Bond yields have risen sharply in the last two months, but the U.S. stock market has more than survived, with the S&P 500 and Dow industrials notching new all-time highs this week. Rates are likely not finished climbing, however, and equity investors need to be prepared. Expectations that the Federal Reserve will soon start to pare its $85 billion a month bond purchasing program boosted the U.S. 10-year Treasury yield as high as 2. ... Full Story | Top |
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