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U.S. markets news

Avago-Broadcom $37 billion deal could put pressure on Qualcomm
Avago Technologies Ltd's $37 billion deal to buy chipmaker Broadcom Corp creates new competitive challenges for Qualcomm and may force the world's largest mobile chip maker to radically rethink its own strategy.
Avago, Broadcom deal could put pressure on Qualcomm: analysis  The Star Online
Broadcom sold to rival for $37 million in biggest tech deal ever  OCRegister
Reuters  
Teva to pay $1.2 billion in generic drug settlement
WASHINGTON (AP) - Federal regulators announced Thursday that Teva Pharmaceuticals Industries will pay $1.2 billion to settle charges that one of its subsidiaries illegally blocked the launch of low-cost generic versions of the blockbuster sleeping pill ...
Teva settles Cephalon case with FTC for $1.2 billion over sleep drug  Boston Globe (subscription)
With A $1.2 Billion Hammer, The FTC Closes Loophole To Prevent Generic Drugs  Forbes
Libya Seconds OPEC Output Target as Ministers Head to Vienna
OPEC will maintain its production target next week, Libya's deputy vice prime minister said, joining Kuwait in predicting no policy change when oil ministers from the 12-member group meet in Vienna.
Oil gains, paring monthly drop as US crude supply glut shrinks  BusinessWorld Online Edition
Oil gains as US stocks fall for fourth week in a row  BDlive
Swiss Economy Contracts as Strong Franc Stymies Exports
Switzerland's economy shrank the most in six years as the strong franc took its toll on exports. Gross domestic product fell 0.2 percent in the first quarter, after a revised growth of 0.5 percent in the previous three months, the State Secretariat for Economic ...
Switzerland's Economy Shrinks, Squeezed by Strong Swiss Franc  Wall Street Journal
UPDATE 1-Swiss economy contracts in first quarter after franc cap dropped  Reuters
US economy likely shrank in first quarter, but fundamentals strong
WASHINGTON The U.S. economy likely contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls and a resurgent dollar, but activity since has rebounded modestly.
US economy likely shrank in 1st quarter  FoxReno.com
GDP report expected to show economy shrank  USA TODAY
Equinix to Buy Data Center Rival Telecity for $3.6 Billion
LONDON - The American data center provider Equinix said on Friday that it had struck a deal to acquire its smaller British rival Telecity Group for about $3.6 billion in cash and stock.
Data Giant Equinix Agrees Deal to Acquire Telecity  Wall Street Journal
UPDATE 1-Equinix to buy Telecity Group for $3.6 bln, Interxion deal collapses  Reuters
Small Funds Stoke China's Stock Rally
Chinese investors are pouring cash into small, nimble investment funds that have become a formidable force behind the country's stock market rally.
Shanghai stocks recover after plunge  MarketWatch
China stocks halt plunge, Asia wary but advances  Reuters
Richard Fuld Has No Regrets over Lehman Brothers' Resounding Collapse
Lehman Brothers Holdings' filing for bankruptcy protection in 2008, which was the by far the largest in the country, is believed to have played a critical role in the recent financial crisis.
Ex-Lehman boss to launch stock exchange this summer  USA TODAY
Breaking Silence, Richard Fuld Speaks on Love, Putin and 'Rocky'  New York Times
Intel close to $15B Altera tie-up: Report
Visitors take pictures next to the Intel logo outside of company headquarters in Santa Clara, California. Intel is close to a deal to buy smaller chipmaker Altera for about $15 billion, according to a report in the New York Post.
Intel said to be nearing $15bn deal to buy Altera  Irish Independent
Intel nears $15 billion deal to buy Altera: NY Post  Reuters
JPMorgan Said to Plan Thousands of Job Cuts to Trim Expenses
JPMorgan Chase & Co. will cut thousands of jobs over the next year as the biggest U.S. bank by assets seeks to contain expenses and sells businesses, said a person with knowledge of the plans.
JPMorgan to lay off 5000 employees  The Denver Post
JPMorgan Chase to announce 2nd year of commitment to Detroit  Rapid News Network