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TOP STORIES
Bank of America posts first loss since 2011 on legal expenses
Bank of America Corp reports an unexpected first-quarter loss after it took a $6 billion charge to cover litigation expenses, a figure that far exceeded the legal settlements the No. 2 U.S. bank has announced recently. (BANKOFAMERICA-RESULTS/ (UPDATE 4), moved, by Peter Rudegeair and Tanya Agrawal, 1,040 words)
+ See also:
- BANKOFAMERICA-RESULTS/LEGAL, moved, by Peter Rudegeair, 560 words
GM to seek court protection against ignition lawsuits
Signaling a tougher stance toward legal claims stemming from its recent recall over faulty ignition switches, General Motors Co said it will ask a U.S. court to bar lawsuits related to actions before its 2009 bankruptcy. (GM-RECALL/LAWSUIT (UPDATE 2), moved, by Jessica Dye, 830 words)
Google, IBM, Amex to report results after the bell
Corporate titans Google In, IBM Corp and American Express Co report quarterly earnings after the bell. (GOOGLE-RESULTS (UPDATE 1) expect by 2030 GMT/ 4:30 PM ET, 250 words)
+ See also:
- IBM-RESULTS (UPDATE 1), expect by 2030 GMT/ 4:30 PM ET, 250 words
AMERICAN EXPRESS- (UPDATE 1), expect by 2030 GMT/ 4:30 PM ET, 250 words
AT&T may sit out auction if FCC spectrum plan is adopted
WASHINGTON - AT&T Inc might sit out a major U.S. auction of airwaves if regulators adopt rules that reserve some of the spectrum for smaller rivals. (USA-WIRELESS/SPECTRUM (UPDATE 1), moved, by Alina Selyukh, 410 words)
MARKETS
Shares up on China growth relief; dollar slips
NEW YORK - Share markets make broad gains after China reports economic growth a touch above forecasts and another low euro zone inflation reading spurs speculation about European Central Bank policy options. (MARKETS-GLOBAL/ (WRAPUP 7), moved, by Herbert Lash, 800 words)
ECONOMY
Yellen says full U.S. employment coming into view, slowly
NEW YORK - Federal Reserve Chair Janet Yellen says the U.S. economy appears to be slowly moving toward full employment but that it will need help from the central bank for some time to come. (USA-FED/YELLEN (UPDATE 2), moved, by Jonathan Spicer, 670 words)
U.S. industry shows some vigor, but housing soft
WASHINGTON - U.S. industrial production rose at a faster-than-expected clip in March, the latest sign the economy is gaining momentum. (USA-ECONOMY/ (WRAPUP 3), moved, by Lucia Mutikani, 780 words)
UK unemployment falls, pay matches inflation
LONDON - Britain's unemployment rate falls more than expected and pay growth catches up with inflation for the first time in nearly four years, a boost for Prime Minister David Cameron little more than year before national elections (BRITAIN-JOBS/ (UPDATE 2), moved, by William Schomberg and Ana Nicolaci da Costa, 750 words)
COMPANIES
Abbott beats profit forecast, but sales lag
Abbott Laboratories reports better than expected quarterly earnings, but combined sales of its nutritional products, medical devices and generic medicines come in slightly below Wall Street expectations. (ABBOTT-RESULTS/ (UPDATE 3), moved, by Ransdell Pierson, 570 words)
Starbucks to move Europe base to London, pay more UK tax
LONDON - Starbucks Corp says it will move its European headquarters to London from the Netherlands and pay more tax in the UK as a result. (STARBUCKS UNITEDKINGDOM/ (UPDATE 2), by Tom Bergin, 400 words)
