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TOP STORIES
Intel (Swiss: INTC.SW - news) close to deal to buy Altera (NasdaqGS: ALTR - news) for $16 bln -sources
Intel Corp has resumed talks to buy programmable-chip maker Altera Corp and is close to a $16 billion deal, people familiar with the matter say, paving way for the third mega semiconductor-chip deal this year. (ALTERA-M&A/INTEL (UPDATE 2), moved, by Greg Roumeliotis and Liana B. Baker, 210 words)
U.S. economy shrank in 1t qtr; dollar hit corporate profits
WASHINGTON - The U.S. economy contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls and a resurgent dollar, but activity has rebounded modestly. (USA-ECONOMY/ (WRAPUP 4), moved, by Lucia Mutikani, 830 words)
U.S. sues to block merger of Steris Corp (NYSE: STE - news) , Synergy Health (Other OTC: SYHEF - news)
WASHINGTON - The U.S. Federal Trade Commission files a lawsuit to stop the $1.9 billion merger of medical technology provider Steris Corp and British sterilization services provider Synergy Health Plc. (SYNERGYHEALTH-STERIS CORP/FTC (UPDATE 1), moved, by Diane Bartz, 320 words)
Vanguard ties help Wellington buck weak trend in active funds
BOSTON - While many U.S. asset managers that focus on stock picking are getting squeezed by low-cost passive rivals, Wellington Management is prospering, leveraging decades-long ties to Vanguard Group that allow it charge management fees that are less than a third of the category average. (WELLINGTON-FUNDS/, moved, By Ross Kerber, 610 words)
Bristol's Opdivo reduces risk of death from common lung cancer
CHICAGO - Bristol-Myers Squibb Co's drug Opdivo improved survival for patients with the most common form of lung cancer, nearly doubling it for those with high levels of a specific protein in their tumors compared with chemotherapy, according to clinical trial results. (CANCER-ASCO/BRISTOL-OPDIVO, moved, by Deena Beasley, 480 words)
MARKETS
Wall St slips on weak economic data
U.S. stocks are lower as weak GDP and consumer sentiment data add to investor concerns about the strength of the economy. (MARKETS-STOCKS/USA (UPDATE 5), updated throughout the say, 400 words)
+ See also:
- MARKETS-GLOBAL/ (WRAPUP 7), updated throughout the day, 400 words
- MARKETS-OIL/ (UPDATE 7), updated throughout the day, 400 words
INVESTING
Investors find big upside in small U.S. death services companies
NEW YORK - Companies that provide funerals and other end-of-life services stand to benefit from what boils down to a macabre version of high demand as members of the U.S. baby boom generation approach their seventies. (USA-STOCKS/FUNERALS, moved, by Ryan Vlastelica, 510 words)
Apps turn bedroom traders into star stock-pickers
LONDON - The spread of smartphones has revolutionized trading for those who believe more in the wisdom of their peers than that of fee-charging fund managers (MARKETS-STOCKS/COPYCAT, moved, by Atul Prakash, 860 words)
ECONOMY
Canada economy contracts by most in 6 years in first quarter
Canada's economy contracted the most in nearly six years in the first quarter, with business investment and exports falling as the country grappled with a slump in oil prices. (CANADA-ECONOMY/GDP (UPDATE 3), moved, by Leah Schnurr, 550 words)
COMPANIES
Equinix (NasdaqGS: EQIX - news) to buy TelecityGroup for $3.6 bln, Interxion deal ended
LONDON/NEW YORK - U.S. data center company Equinix Inc will buy British peer TelecityGroup in a deal worth $3.6 billion that would also end Telecity's pursuit of a smaller European rival. (TELECITY-M&A/EQUINIX (UPDATE 2), moved, by Sarah Young and Liana B. Baker, 380 words)
AstraZeneca (NYSE: AZN - news) and Lilly to test new cancer drug combination
LONDON - AstraZeneca and Eli Lilly are to combine two of their cancer drugs in a new clinical trial against solid tumors in the latest sign that such cocktails may be the way forward in fighting the disease. (ASTRAZENECA-ELI LILLY/CANCER, moved, 220 words)
ALSO IN THE NEWS
Financial regulator says Vatican bank needs more reform
VATICAN CITY - The Vatican bank has made good progress in transparency but needs more changes to consolidate anti-money laundering reforms, the Holy See's financial regulator says in its annual report. (VATICAN-BANK/, moved, by Philip Pullella, 425 words)