Newsletter BOX: Daily Investor Briefing: Auto, factory data hint at some...

07/2/2013

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

Auto, factory data hint at some momentum in economy

WASHINGTON (Reuters) - U.S. new motor vehicle sales in June were poised to record their strongest month in more than 5-1/2 years and factories posted a second straight month of gains in new orders in May, indicating some pick-up in economic activity.

Icahn, affiliates provide bulk of $5.2 billion Dell loan package

(Reuters) - Billionaire investor Carl Icahn and affiliates provided $3.42 billion, or 66 percent, of the $5.2 billion in committed debt financing to back his proposed leveraged recapitalization plan for personal computer maker Dell Inc.

Wall Street dips after early gains fade

NEW YORK (Reuters) - U.S. stocks edged lower on Tuesday as stocks erased gains in late session after the benchmark S&P 500 index found resistance at its 50-day moving average.

Exclusive: Greece has three days to deliver or face consequences - EU officials

BRUSSELS/ATHENS (Reuters) - Greece has three days to reassure Europe and the IMF that it can deliver on conditions attached to its bailout in order to receive its next tranche of aid, four euro zone officials said on Tuesday.

Fed pledges to get tough on Wall Street as adopts Basel rules

WASHINGTON (Reuters) - The U.S. Federal Reserve pledged to draft more tough rules for Wall Street, while shielding smaller banks from some of the harshest impact of the global Basel III capital rules it adopted on Tuesday.

Insight: Citigroup's crown jewel is losing some luster

NEW YORK (Reuters) - Citigroup may be losing ground in a business that is central to its recovery plan, as rivals catch on to how much money the unit makes.

Obama's Power Africa backer calls weak competition an investment incentive

DAR ES SALAAM (Reuters) - Nigerian businessman Tony Elumelu, who backed President Barack Obama's Africa Power initiative with a $2.5 billion investment pledge, said on Tuesday the lack of competition in the continent's nascent power sector makes it an investment gem.

IRS battles tech companies over 2004 offshore tax holiday

WASHINGTON (Reuters) - The Internal Revenue Service and two technology firms are fighting in court over tax bills from a 2004 corporate tax holiday, with other multinationals watching closely for a result that could come any day, said tax lawyers.

JPMorgan oil chief moves to Noble, new co-heads named: SparkSpread

NEW YORK (Reuters) - JPMorgan Chase & Co named Jeff Katz and Mitch Rubinstein to run its global oil operation after the division's previous chief Jeff Frase left the bank after five years for Noble Group , industry website SparkSpread.com reported on Tuesday.

Toyota expects to fall short of Prius U.S. sales goal in 2013

DETROIT (Reuters) - Toyota Motor Corp will fall short of its goal to sell 250,000 of its hybrid Prius models in the U.S. market this year, a Toyota executive said on Tuesday.