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TOP STORIES
Dell to go private in $24.4 billion deal
Michael Dell will take Dell Inc private for $24.4 billion in the biggest leveraged buyout since the financial crisis, a deal that allows the billionaire chief executive to attempt a revival of his struggling computer company without Wall Street scrutiny. (DELL-BUYOUT/ (UPDATE 5), moving shortly, by Poornima Gupta, 1,300 words)
+ See also:
- DELL-MICHAELDELL/ (NEWSMAKER), moved, by Ben Berkowitz, 770 words)
US government seeks more than $5 bln in case against S&P
NEW YORK - The U.S. government is seeking $5 billion in its civil lawsuit against Standard & Poor's, accusing the ratings service of defrauding investors, in one of the most ambitious cases yet from the Justice Department to target conduct involving financial crisis. (MCGRAWHILL-SANDP/CIVILCHARGES (UPDATE 2), moved, by Aruna Viswanatha, 1,080 words)
Stocks, oil rebound on economic data
NEW YORK - Global equity markets and oil prices bounce back after data shows the vast U.S. services sector extended a three-year expansion last month, while business activity in the euro zone showed signs of recovery. (MARKETS-GLOBAL (WRAPUP 8, GRAPHIC), moved, by Herbert Lash, 660 words)
US deficit to shrink slightly, growth to slow this year-CBO
WASHINGTON - The fiscal 2013 U.S. budget deficit will dip to $845 billion after topping $1 trillion for four straight years, largely because of higher taxes now being paid by wealthy Americans, the Congressional Budget Office says (USA-FISCAL/CBO (UPDATE 1), moved, by David Lawder, 380 words)
ECONOMY
US service sector grows in Jan, employment speeds up-ISM
NEW YORK - The U.S. services sector expanded in January although the pace slowed slightly from the previous month, with robust jobs growth offsetting slowness in new orders, according to a report. (USA-ECONOMY/SERVICES (UPDATE 1), moved, by Ed Krudy, 550 words)
Euro zone economy shows signs of recovery
LONDON - The euro zone's battered economy is probably recovering but the gulf between its two biggest members is widening, according to a survey that shows business optimism in the bloc at an eight-month high. (PMI-SERVICES/EUROPE, moved, by Jonathan Cable, 700 words)
+ See also:
- PMI-SERVICES/BRITAIN (UPDATE 1), moved, by Olesya Dmitracova, 440 words
- CHINA-ECONOMY/SERVICE PMI, moved, 530 words
China OKs broad-ranging tax, SOE, interest rate reforms
BEIJING - China has formulated a game plan for a long-delayed overhaul of income distribution, announcing reforms that include increasing the amount of profits transferred by state-owned firms, expanding the property tax and further liberalizing interest rates. (MARKETS-CHINA/DEBT (UPDATE 1), moved, by Lu Jianxin and Pete Sweeney, 700 words)
+ See also:
- MARKETS-CHINA/REFORM (UPDATE 1), moved, by Lu Jianxin and Pete Sweeney, 700 words
COMPANIES
UBS says overhaul bearing fruit despite hefty loss
ZURICH - Swiss bank UBS reports faster than expected progress in overhauling its investment bank but its flagship wealth management unit performed disappointingly, weighed down in Europe where Switzerland is under fire for helping tax cheats. (UBS-RESULTS/(UPDATE 4), moved, by Katharina Bart, 880 words)
Malone eyes Virgin Media in challenge to Murdoch
LONDON - John Malone's Liberty Global is in late-stage takeover talks with British group Virgin Media over a $20 billion cable deal that would put the billionaire up against long-time rival Rupert Murdoch. (LIBERTY-VIRGINMEDIA/ (UPDATE 4), moved, by Kate Holton, 970 words)
ADM profit soars amid robust global oilseed demand
CHICAGO - Archer Daniels Midland Co reports a six-fold increase in quarterly profit as strong demand for oilseeds helped the agricultural giant shake off the drag of a historic U.S. drought. (ARCHERDANIELSMIDLAND/RESULTS (UPDATE 3), moved, by Tom Polansek, 590 words)
Kellogg posts narrower loss in fourth-quarter
NEW YORK - Kellogg reported a narrower quarterly loss on Tuesday helped by improvements in Latin America and stood by its full-year forecast. (KELLOGG-RESULTS/ (UPDATE 4), moved, by Martinne Geller, 420 words)
Emerson Electric sees signs of increased industrial demand
NEW YORK - Diversified U.S. manufacturer Emerson Electric met Wall Street profit forecasts for the first quarter and said it sees signs that demand for its industrial products may be picking up. (EMERSON-RESULTS/ (UPDATE 3), moved, by Scott Malone, 400 words)
Cardinal profit up 16 pct on generics, medical products
Drug wholesaler Cardinal Health reports a better-than-expected 16 percent rise in quarterly earnings, driven by increased sales of generic drugs and medical products such as surgical gowns and instruments. (CARDINAL-RESULTS (UPDATE 3), moved, by Toni Clarke, 500 words)