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• Wall Street dips, mood fragile after Europe elections
• Anti-austerity ballot backlash shakes euro zone
• Warren Buffett says buying stocks amid market dip
• Madoff trustee now seeks $255 million from family
• Analysis: Petro-dollar windfall could help China's rebalancing
• Chrysler recalls 127,350 Dodge Chargers, Chrysler 300s
• Dish Network adds more subscribers than expected
• Old feud appears to sink Obama's Fed nominees
• Analysis: Investor protest votes on pay here to stay
• Goldman sees Graff profit growth double Tiffany's
• Investors fret after Greek, French votes
• Nexen abandons unviable U.S. Gulf well
• Oil conflict drills $2.4 billion hole in Sudan's finances
• Micron wins exclusive right to bid for Elpida -source
• Spain to announce clean-up plan for Bankia: sources
• AT&T making big investment in home monitoring
• Weak Swiss prices underline rationale for currency cap
• Buffett's opinion on Walmart not changed by scandal
• Insight: Ally's mortgage unit problems come full circle
• Exclusive: Icahn sells LightSquared debt, creditors extend talks: sources
• China April inflation, output data to show stabilizing economy
• Hungary plans three-year, 15 billion euro IMF deal: state sec
• Euro zone crisis funds should suffice: EFSF's Regling
• Toyota says China sales in April up 68 percent
• Barclays to offer online U.S. savings accounts: FT
• Analysis: Infosys woes prompt calls for change at top
• Lenovo to launch mobile devices facility in central China
• Job disability a headache for recovery
• Warren Buffett says his successor will be a man
• US stocks under pressure after European elections
• Candidates against austerity lead in Italian vote
• Italian energy CEO shot in Genoa, has surgery
• Oil drops to lowest since Februrary
• Buffett says investors shouldn't act on headlines
• Summary Box: Spain to present new bank measures
• Twitter plays outsize role in 2012 campaign
• France president-elect Hollande has full plate
• Markets volatile amid elections uncertainty

Wall Street dips, mood fragile after Europe elections Posted: NEW YORK (Reuters) - The S&P 500 and Nasdaq were little changed Monday, rebounding from steep losses early in the session after election results in Europe clouded the region's outlook as it grapples with a financial crisis. Financial shares were up 0.13 percent, helping to briefly push the S&P into positive territory. Wall Street suffered a sharp decline on Friday, and the S&P racked up its worst weekly performance this year. ...

Anti-austerity ballot backlash shakes euro zone Posted: ATHENS/PARIS (Reuters) - An anti-austerity backlash by voters in Greece and France shook the euro zone on Monday, sending the euro currency and shares sliding on deepening doubts about the ability of Athens to survive in the single currency area. Greece, where Europe's sovereign debt crisis began in 2009, plunged into turmoil after a general election boosted far-left and far-right splinter groups, stripping mainstream parties that back a painful EU/IMF bailout of their parliamentary majority. ...

Warren Buffett says buying stocks amid market dip Posted: (Reuters) - Berkshire Hathaway Inc is adding to its shareholdings of two U.S. companies amid a market dip, billionaire investor Warren Buffett said on Monday. Buffett, Berkshire's controlling shareholder, also forecast record results this year for Berkshire's largest non-insurance businesses, among them the railroad BNSF and the utility MidAmerican. In an interview on cable television network CNBC from just outside his conglomerate's home base in Omaha, Nebraska, he dismissed the dip in European shares after weekend elections in France and Greece. ...

Madoff trustee now seeks $255 million from family Posted: (Reuters) - Members of Bernard Madoff's family were hit with an expanded $255.3 million lawsuit, saying they should have caught the patriarch's Ponzi scheme and must return the benefits to victims. Irving Picard, the trustee seeking money for Madoff's victims, said family members who worked at Bernard L. Madoff Investment Securities LLC were "completely derelict" in ensuring that the investment firm's operations were legal. The lawsuit adds three former spouses of Madoff's sons as defendants. ...

Analysis: Petro-dollar windfall could help China's rebalancing Posted: BEIJING (Reuters) - A $1 trillion oil-fired trade windfall couldn't be better timed to help Chinese companies climb the value chain and rebalance the economy of the world's biggest exporter. Fast growing countries producing oil and other commodities, are taking advantage of the windfall from the recent surge in prices and buying roughly half of the $2 trillion worth of goods sold by China overseas. ...

Chrysler recalls 127,350 Dodge Chargers, Chrysler 300s Posted: (Reuters) - Chrysler Group is recalling some 127,350 current model Dodge Charger and Chrysler 300 vehicles in the United States and Canada due to potential problems in electrical stability control and anti-lock braking systems, the company and U.S. safety regulators said. Chrysler, majority owned by Fiat SpA , said it was not aware of any crashes, injuries or fires due to the issue. The recall affects cars from the 2011-2012 model years and produced through December 20, 2011, according to a company filing with the U.S. National Highway Traffic Safety Administration. ...

Dish Network adds more subscribers than expected Posted: (Reuters) - Dish Network Corp , the second-largest satellite TV company behind DirecTV, added more subscribers than expected in the first quarter after holding the line on prices for its programming packages. Dish, whose shares rose 1 percent in premarket trading, added a net 104,000 subscribers during the quarter, topping analysts' average estimate of 62,000, according to StreetAccount data. It was Dish's second quarter in a row of subscriber growth, after shedding about 250,000 subscribers during the second and third quarters of 2011. ...

Old feud appears to sink Obama's Fed nominees Posted: WASHINGTON (Reuters) - President Barack Obama's two nominees to the Federal Reserve appear likely to fall victim to a long-running political feud, which would leave the central bank short-handed as it struggles with tough regulatory and monetary policy questions. Republican Senator David Vitter has demanded that the Senate hold a debate before any vote on the nominees, which would require Democratic leaders to muster a super majority to move forward - a hurdle that may be too high to clear. ...

Analysis: Investor protest votes on pay here to stay Posted: LONDON (Reuters) - Company directors will remain under pressure from shareholders over executive pay long after the market downturn ends and lawmakers stop the heckling that has helped prompt votes against remuneration policies at this year's annual meetings. Investors and directors say the days of shareholders rubber-stamping company resolutions at Annual General Meetings (AGMs) is over and directors will have to get used to investors being more vocal on many areas of company business. ...

Goldman sees Graff profit growth double Tiffany's Posted: HONG KONG (Reuters) - Goldman Sachs expects IPO hopeful Graff Diamonds' profit to grow an annualized 31 percent from 2011-14, driven by an increase in sales and higher profit margins, a research note obtained by Thomson Reuters publication IFR on Monday showed. The profit growth at high-end jeweler Graff will be nearly double the 15.8 percent expected for rival U.S. jeweler Tiffany and below the 47 percent forecast for Chow Tai Fook Jewelry Group , Goldman analysts estimated in the report dated May 5. ...

Investors fret after Greek, French votes Posted: LONDON (Reuters) - Greek and French election results rattled global investors on Monday by undermining confidence in the region's plans to cut spending and tackle its debt crisis, sending the euro to a three-month low. European shares also initially traded lower, with Greek stocks down 6.4 percent , but reaction was muted with the UK market closed for a holiday. Wall Street stocks were expected to reflect the weaker tone when they being trading . ...

Nexen abandons unviable U.S. Gulf well Posted: (Reuters) - Nexen Inc said it did not find oil or natural gas in commercial quantities at its Kakuna exploratory well in the Gulf of Mexico and was abandoning it. The company, which has operations in Canada, the Gulf of Mexico, the North Sea and offshore West Africa, said the well was drilled to a depth of 30,300 feet at a cost of about C$120 million ($120.7 million). The Kakuna well is on Green Canyon block 504 in the deepwater Gulf of Mexico, where Nexen has so far discovered more than 500 million barrels of resources in the Appomattox area. ...

Oil conflict drills $2.4 billion hole in Sudan's finances Posted: KHARTOUM (Reuters) - Sudan's dispute with its southern neighbor over oil transit fees has created a 6.5 billion pound ($2.4 billion) gap in the country's public finances and caused exports to plunge 83 percent, the Sudanese finance minister said on Monday. South Sudan inherited three-quarters of oil production when it gained independence from the North last July. But the pipelines are in Sudan and the two have been unable to agree on how much the South should pay to transport its oil, with the row escalating into a low-level armed conflict in recent weeks. ...

Micron wins exclusive right to bid for Elpida -source Posted: TOKYO (Reuters) - Micron Technology won the right to negotiate exclusively to buy Elpida Memory Inc after offering more than 200 billion yen ($2.5 billion) for the failed Japanese chipmaker, a source with direct knowledge of the deal said, paving the way for the U.S. company to more than double its global market share. By acquiring Elpida, Micron will boost its share to 25 percent, surpassing South Korea's SK hynix and becoming the second-biggest maker of memory chips used in personal computers, according to U.S. technology research firm IHS iSuppli. Samsung Electronics is the largest. ...

Spain to announce clean-up plan for Bankia: sources Posted: MADRID (Reuters) - Spain is set to announce a rescue plan for ailing bank Bankia SA as part of a wider reform of the deeply troubled banking sector, whose woes threaten Spain's financial stability and the euro zone as a whole, sources said on Monday. The reform of Bankia, saddled with huge toxic loans which put it at the heart of Spain's banking crisis, will include cash injections and a management shakeout, a government source and another source said. The lender is run by Rodrigo Rato, a former minister for the ruling centre-right People's Party. ...

AT&T making big investment in home monitoring Posted: NEW YORK (Reuters) - AT&T Inc is making a big investment in a nationwide wireless home monitoring service that could potentially add $1 billion to its annual revenue as part of the No. 2 U.S. mobile operator's ongoing effort to expand beyond cell phones. It is planning a service called "Digital Life" to monitor homes for everything from water damage to burglaries and to let customers remotely do things like adjust temperature or unlock doors, using an Internet connection. ...

Weak Swiss prices underline rationale for currency cap Posted: ZURICH (Reuters) - Swiss consumer prices barely rose in April, leaving them falling on an annual basis and underlining the rationale behind the Swiss National Bank's currency cap to shield the economy from deflation. Huge investment flows into Switzerland, seen as a safe port of call during the financial and euro zone crises, have sent the franc soaring, pushing down domestic prices and prompting the central bank to step in and try to hold the line. Data showed on Monday that Swiss consumer prices rose just 0. ...

Buffett's opinion on Walmart not changed by scandal Posted: (Reuters) - Billionaire investor Warren Buffett said a recent bribery scandal at Wal-Mart Stores Inc has not changed his investment opinion about the stock. In an interview on CNBC on Monday, Buffett characterized Wal-Mart's troubles in Mexico as being caused by a group of bad apples who don't represent the broader company's values. He said such an issue "scares the dickens out of me as a CEO" of Berkshire Hathaway Inc because it could happen to any company. As of December 31, Berkshire's 39.04 million share stake in Wal-Mart was worth $2.33 billion. ...

Insight: Ally's mortgage unit problems come full circle Posted: NEW YORK/CHARLOTTE, North Carolina (Reuters) - In the fall of 2009, the board of GMAC, one of the largest U.S. auto and home-loan companies, gathered in New York to discuss whether to put its troubled mortgage unit into bankruptcy. GMAC, now called Ally Financial, was just about to receive the last of $17 billion in taxpayer bailouts. The board, including directors named by the U.S. government, discussed whether to use bankruptcy to get rid of toxic mortgage assets that were pulling down the rest of the company, according to people who attended the meeting. ...

Exclusive: Icahn sells LightSquared debt, creditors extend talks: sources Posted: NEW YORK (Reuters) - Billionaire investor Carl Icahn has sold his $250 million debt holdings in Philip Falcone's telecom start-up LightSquared , while Falcone continues to negotiate with creditors to avoid a debt default, according to sources familiar with the matter. News of Icahn's debt sale comes as remaining creditors agreed to a second week-long extension until May 14 of their talks with Falcone about reducing his firm, Harbinger Capital Partners' 96 percent equity stake in LightSquared. ...

China April inflation, output data to show stabilizing economy Posted: BEIJING (Reuters) - New evidence that the Chinese economy has bottomed out and is now stabilizing is likely to be seen in a raft of data due out on Friday, with inflation falling and output strengthening, a Reuters survey showed. Analysts polled by Reuters expect annual consumer price inflation to have moderated to 3.3 percent, from 3.6 percent in March, remaining well below the government's 4 percent target. Month-on-month, prices are expected to have dropped by 0.5 percent after March's 0.3 percent fall. ...

Hungary plans three-year, 15 billion euro IMF deal: state sec Posted: BUDAPEST (Reuters) - Hungary is seeking 15 billion euros in international loans over three years to stabilize its economy, a senior government official said on Monday, blaming the International Monetary Fund and the European Union for more delays in starting aid talks. Central Europe's most indebted nation needs a precautionary loan to rein in borrowing costs and prevent further cuts to its credit rating, which has been driven down to non-investment grade by its high debt and by financial and legislative reforms that have been criticized by businesses and policymakers abroad. ...

Euro zone crisis funds should suffice: EFSF's Regling Posted: BERLIN (Reuters) - A 750 billion euro ($976 billion) firewall built to fight the euro zone debt crisis should be sufficient, the head of the euro zone's temporary rescue fund Klaus Regling said on Monday. "When I look at the countries that are often discussed, we know exactly how big their financing needs are," Regling said, adding they were below 750 billion euros for the next two years. "I don't share this pessimism that it all won't suffice," he added. ...

Toyota says China sales in April up 68 percent Posted: BEIJING (Reuters) - China sales by Japan's Toyota Motor Corp and its two local joint-venture partners rose 68 percent in April from a year earlier to about 81,700 vehicles, according to a company spokesman. For the first four months of the year, the Japanese auto maker sold a total of about 293,200 vehicles, a 14.3 percent increase from the same period last year, said the spokesman, Takanori Yokoi. Yokoi said the large year-on-year jump in April sales was due chiefly to the fact that sales during April last year were comparatively low because of the massive earthquake on March 11. ...

Barclays to offer online U.S. savings accounts: FT Posted: LONDON (Reuters) - British bank Barclays is moving into the U.S. retail banking market for the first time in decades with the launch of an online savings account, the Financial Times said on Monday. The bank will from Monday target U.S. savers with an instant access account and longer-term cash products that pay interest rates of up to 1.75 percent for five-year deposits, the FT said. The online savings account is designed to secure cheaper and more stable funding for planned growth in its international credit card business. ...

Analysis: Infosys woes prompt calls for change at top Posted: BANGALORE/MUMBAI (Reuters) - The conservatism that served Infosys Ltd so well for three decades is now stunting its growth, prompting calls from investors for new blood at the top of India's showpiece outsourcer. Critics say Infosys also must shed its aversion to acquisitions, change its premium pricing strategy and make better headway in higher-end businesses like consulting to compete with global rivals IBM and Accenture. "It's one thing to get to the top and it's another to stay there. ...

Lenovo to launch mobile devices facility in central China Posted: SHANGHAI (Reuters) - Lenovo Group Ltd, the world's No.2 PC maker by sales, said on Monday that it will invest about 5 billion yuan ($793 million) over the next five years in an integrated mobile devices facility in China to meet rising global demand for smartphones and tablet computers. The Lenovo (Wuhan) Industrial Base, located in the city of Wuhan in central Hubei province, will carry out research and development, production and sales of mobile devices such as the company's LePhone smartphones and LePad tablet computers for China and global markets. ...

Job disability a headache for recovery Posted: WASHINGTON (Reuters) - Monica Soltes was excited 10 years ago to leave Merrill Lynch and start her own business as an independent financial planner in San Diego. After she fell off a porch at her cousin's cottage and broke her elbow, her dreams unraveled. Following multiple surgeries that confined her to bed, Soltes was diagnosed with a hormonal disease that is weakening her bones. She also ran out of money, signed up for disability benefits and has been unable to work again. The 47-year-old from Michigan is among the 8.7 million American workers on the U.S. ...

Warren Buffett says his successor will be a man Posted: Warren Buffett is keeping secret the identity of the person likely to succeed him as CEO of Berkshire Hathaway but he is narrowing the field — he says the top choice and two backups are men.

US stocks under pressure after European elections Posted: U.S. stocks are under pressure after angry voters in Greece and France rejected painful budget cuts demanded by international lenders.

Candidates against austerity lead in Italian vote Posted: Several candidates opposed to austerity measures were making a strong showing Monday in early projections from Italy's local elections — the first nationwide test for Premier Mario Monti since he was named to save Italy from its debt crisis.

Italian energy CEO shot in Genoa, has surgery Posted: Italian authorities were investigating after the CEO of an Italian nuclear engineering company was shot Monday as he left his home in the port city of Genoa.

Oil drops to lowest since Februrary Posted: The price of oil has fallen to its lowest level in three months after elections in Europe created uncertainty over the region's plan for recovery.

Buffett says investors shouldn't act on headlines Posted: Billionaire Warren Buffett said Monday that Europe will have a hard time resolving its fiscal problems because of the structure of the European Union and this weekend's election results in Greece and France.

Summary Box: Spain to present new bank measures Posted: BANK BOOST: Spain's prime minister said Monday the government will likely present this week new measures to help banks, a key source of worry over whether the country might need a financial bailout.

Twitter plays outsize role in 2012 campaign Posted: (at)BarackObama is on Twitter. So is (at)MittRomney. And so are all the voters following the 2012 presidential contest, whether they know it or not.

France president-elect Hollande has full plate Posted: In a whirlwind first day after winning the French presidency, Socialist Francois Hollande already has a to-do list that includes an invite to the White House, visits to the G-8 and NATO summits and a World War II ceremony with his defeated rival.

Markets volatile amid elections uncertainty Posted: Greek election results reignited concerns over the country's ability to stave off bankruptcy, though losses elsewhere were trimmed on hopes that France's new president may prompt a change in Europe's strategy to fight the debt crisis.

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