Entrepreneurship and Incubation News

By Angela Moon NEW YORK (Reuters) – With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street’s rally inevitably hitting a ceiling is starting to get old. Concerns about a technical correction have been a hot topic for weeks, especially as the rally accelerated in May – the S&P 500 is up 4.4 percent so far this month and up nearly 17 percent for the year. But as the three major U.S. stock indexes inch higher and higher to set record after record, many analysts are shrugging off the pullback worries. …

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By Leah Schnurr NEW YORK (Reuters) – Consumer sentiment rebounded in early May to the highest level in nearly six years, an encouraging sign after recent data that has suggested economic growth is cooling. A gauge of future economic activity released on Friday also suggested the expected slowdown would be temporary, with the index rising to a near five-year high in April. Economists expect growth will likely slow in the second quarter from the 2.5 percent pace at the beginning of the year as tighter fiscal policy starts to bite. …

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The music business partners Jimmy Iovine and Dr. Dre gave $70 million to the University of Southern California to start an academic program for the development of creative entrepreneurs.

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By Jason Lange WASHINGTON (Reuters) – The U.S. economy showed worrisome signs as jobless claims rose sharply last week while ground-breaking at home construction sites tumbled in April and a gauge of underlying inflation pointed to weak demand. The data could fuel fears over the impact of a government austerity drive that began in January, and could raise pressure on the Federal Reserve to keep its money printing press running on overdrive as the central bank buys bonds to support the economy. …

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A new generation in the mainly Muslim suburbs that ring Paris is finding business success by relying on personal initiative rather than government programs.

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By Lucia Mutikani WASHINGTON (Reuters) – U.S. producer prices recorded their largest drop in three years in April as gasoline and food costs tumbled, pointing to weak inflation pressures that should give the Federal Reserve latitude to keep monetary policy very accommodative. Separate reports on Wednesday showed an unexpected drop in U.S. factory output last month and troubling signs of weakness in manufacturing activity in New York state this month. U.S. …

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WASHINGTON (Reuters) – Import prices fell in April due to a drop in oil costs, a positive sign for household finances that also pointed to benign inflation pressures. Import prices slipped 0.5 percent last month, the biggest decline since December, the Labor Department said on Tuesday. March’s data was revised to show a 0.2 percent decline instead of the previously reported 0.5 percent drop. Economists polled by Reuters had expected prices to fall 0.5 percent last month. In the 12 months to April, import prices fell 2.6 percent. Stripping out petroleum, import prices dipped 0.1 percent. …

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By Lucia Mutikani WASHINGTON (Reuters) – Retail sales unexpectedly rose in April as households bought automobiles, building materials and a range of other goods, pointing to underlying strength in the economy in the face of government austerity. The Commerce Department said on Monday retail sales edged up 0.1 percent after a 0.5 percent decline in March. Economists had expected retail sales, which account for about 30 percent of consumer spending, to drop 0.3 percent last month. “The overall tone of this report was quite encouraging as it suggests that U.S. …

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By Angela Moon NEW YORK (Reuters) – With the Dow and the S&P 500 setting another string of record closing highs this week, the old Wall Street adage “Sell in May and Go Away” is starting to look weak. Closing out the second week of May, the Standard & Poor’s 500 index is up 2.3 percent for the month. For the year, the benchmark S&P 500 is up a stunning 14.6 percent. Some analysts say that when the market starts off this strong, it tends to keep the upward momentum going until the end of the year. …

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(Reuters) – Activist investor Carl Icahn and Southeastern Asset Management Inc, two of Dell Inc’s biggest shareholders, have proposed an alternative to a $24.4 billion buyout deal led by founder Michael Dell. In a letter to Dell’s board on Thursday night, Icahn and Southeastern proposed that current owners keep their equity position. Additionally, they would have the option of receiving a distribution of $12 a share in cash or $12 a share in stock valued at $1.65 a share. …

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