Business Today: Wall Street hit by economic, consumer jitters

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Good evening , TUE 16 Jun 2009  today's headlines Wall Street hit by economic, consumer jitters U.S. housing starts jump in May, inflation muted Adobe revenue beats analysts' outlook Obama to call for U.S. financial product watchdog Barclays accepts BlackRock's $13.5 billion offer for BGI Large U.S. corporate bankruptcies accelerate Fed's Warsh warns of false optimism on U.S. economy GM says reaches deal to sell Saab to Koenigsegg MySpace to lay off 30 percent of staff Eager hedge funds on hunt as investors take cover   today's videos Roubini sees weeds, not green shoots Housing starts surge 17% Saab sale underway more details Wall Street hit by economic, consumer jitters June 16, 2009 04:27 PM ET NEW YORK (Reuters) - U.S. stocks slipped on Tuesday as mixed economic data and Best Buy's disappointing sales spurred worries about an anemic recovery. Full Article U.S. housing starts jump in May, inflation muted June 16, 2009 04:26 PM ET WASHINGTON (Reuters) - New U.S. housing starts and permits surged in May from record lows, while wholesale prices were muted despite higher gasoline costs, indicating the economy was moving closer to the end of a deep recession. Full Article Adobe revenue beats analysts' outlook June 16, 2009 04:30 PM ET BOSTON (Reuters) - Adobe Systems Inc, the maker of Photoshop and Acrobat software, reported a quarterly revenue drop that was not as steep as Wall Street analysts had feared and its profit came in line with forecasts. Full Article Obama to call for U.S. financial product watchdog June 16, 2009 03:46 PM ET WASHINGTON (Reuters) - President Barack Obama pledged on Tuesday to pursue major changes in U.S. financial regulation, but warned it will be a "heavy lift" politically with special interests already offering opposition. Full Article Barclays accepts BlackRock's $13.5 billion offer for BGI June 16, 2009 03:59 PM ET LONDON (Reuters) - Barclays' board has recommended shareholders accept a $13.5 billion cash and shares offer from U.S. fund manager BlackRock for its Barclays Global Investors business, the British bank said on Tuesday. Full Article Large U.S. corporate bankruptcies accelerate June 16, 2009 02:19 PM ET NEW YORK (Reuters) - Large U.S. corporate bankruptcies have accelerated in recent weeks as the U.S. economic slowdown claims more victims, according to industry data. Full Article Fed's Warsh warns of false optimism on U.S. economy June 16, 2009 03:57 PM ET NEW YORK (Reuters) - A top Federal Reserve official warned on Tuesday not to take recent gains across a range of asset prices as proof the U.S. economy is on the verge of a strong recovery. Full Article GM says reaches deal to sell Saab to Koenigsegg June 16, 2009 01:32 PM ET STOCKHOLM (Reuters) - Sweden's Koenigsegg, a niche manufacturer of some of the world's fastest and most expensive sports cars, has struck a deal to buy loss-making Saab Automobile from General Motors, the companies said on Tuesday. Full Article MySpace to lay off 30 percent of staff June 16, 2009 02:27 PM ET NEW YORK (Reuters) - MySpace, the social network owned by Rupert Murdoch's News Corp, said it will cut 30 percent of its staff to lower costs as it struggles to stay popular in the face of rising competition. Full Article Eager hedge funds on hunt as investors take cover June 16, 2009 03:52 PM ET MONACO (Reuters) - Investors say they are getting more promotional material from hedge funds than ever before, as funds seek to replenish assets withdrawn or lost because of negative performance during the financial crisis. Full Article     REUTERS www.reuters.com Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book.Details Subscribe to other Reuters newsletters Unsubscribe from this newsletter. Send this mailing to a friend or colleague Reuters.com: Help and Contact Us | Advertise With Us | Mobile | Newsletters | RSS | Interactive TV | Labs | Reuters in Second Life | Archive | Site Index | Video Index Thomson Reuters Corporate: Copyright | Disclaimer | Privacy | Professional Products | Professional Products Support | About Thomson Reuters | Careers