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• Exxon quarterly profit falls, output tumbles
• Wall Street jumps 1 percent on strong labor market data
• Consumer confidence at more than 4-year high in October
• Manufacturing sector picks up in Oct: ISM
• Storm Sandy knocks October auto sales below estimates
• Data points to slow healing in labor market
• Knight Capital says business as usual after power issue resolved
• Ford sets succession plan, Mulally staying through 2014
• Chesapeake to use $2 billion in loans to cut debt costs
• Moody's says Sandy will test municipalities' liquidity
• Automakers report sales increases despite storm
• Retailers report strong sales gains for October
• Strong run of US economic data boosts markets
• US stocks rise on strong consumer confidence data
• Weekly applications for US jobless aid dip to 363K
• US consumer confidence at highest since Feb. 2008
• US builders boost September spending 0.6 percent
• Kellogg says Pringles helped fatten profits
• US manufacturing expands at faster pace in October
• Average US rate on 30-year loan dips to 3.39 pct.
• Mis-sold loan insurance costs Lloyds another 1 billion pound
• Catamaran raises profit forecast after buying Catalyst
• US stocks rise on strong consumer confidence data
• Strong run of US economic data boosts markets
• Soft drink maker Cott's profit falls on lower volumes
• Kellogg says Pringles helped fatten profits
• Report: Small biz continues slow pace of hiring
• Ford's Mark Fields promoted, could become CEO
• US consumer confidence at highest since Feb. 2008
• Storm-crippled NYC subway creaks back into service
• Canadian dollar rallies on bullish U.S. data
• Wall Street jumps 1 percent on strong labor market data
• Oil prices rise on supply constraints in Northeast
• Storm Sandy knocks October auto sales below estimates
• Greek publisher tried over alleged Swiss bank list
• Average US rate on 30-year loan dips to 3.39 pct.
• US worker productivity grew 1.9 pct. rate in Q3
• US manufacturing expands at faster pace in October
• US builders boost September spending 0.6 percent
• New estimate for economic damage from storm: $50B

Exxon quarterly profit falls, output tumbles Posted: 01 Nov 2012 07:48 AM PDT (Reuters) - Exxon Mobil Corp, the world's largest publicly traded oil company, reported a quarterly profit on Thursday that topped expectations, as higher margins from its refining arm countered a 7.5 percent decline in oil and gas output. Exxon and other global oil producers are buying oil and gas assets in North America as they struggle to raise production in a sector where vast energy resources are tightly controlled by countries like Brazil. Earlier this month, Exxon agreed to buy Celtic Exploration Ltd for $2.64 billion. ...

Wall Street jumps 1 percent on strong labor market data Posted: 01 Nov 2012 08:37 AM PDT NEW YORK (Reuters) - Stocks climbed 1 percent on Thursday after both weekly jobless claims and data on growth in private-sector jobs pointed to improving labor market conditions a day before the government's closely watched monthly jobs report. Equities extended gains throughout the morning, though volume remained soft in the aftermath of the massive storm Sandy in the U.S. northeast, which forced a historic two-day market closure at the beginning of the week. Weekly jobless claims unexpectedly fell in the latest week, dropping to 363,000 from a revised 372,000 in the previous week. ...

Consumer confidence at more than 4-year high in October Posted: 01 Nov 2012 07:34 AM PDT NEW YORK (Reuters) - Consumer confidence rose in October to its highest in more than four years as Americans were more upbeat about improvements in the labor market, a private sector report showed on Thursday. The Conference Board, an industry group, said its index of consumer attitudes gained to 72.2 from a downwardly revised 68.4 in September. It was the highest level since February 2008, though it came in shy of economists' estimates for 72.5. September was originally reported as 70.3. The expectations index edged up to 82.9 from 81.5, while the present situation index jumped to 56. ...

Manufacturing sector picks up in Oct: ISM Posted: 01 Nov 2012 07:07 AM PDT NEW YORK (Reuters) - The pace of growth in the manufacturing sector picked up modestly in October as new orders improved, though a measure of employment slowed, an industry report released on Thursday showed. The Institute for Supply Management (ISM) said its index of national factory activity rose to 51.7 from 51.5 in September, topping economists' expectations for a slight decline to 51.2, according to a Reuters poll of economists. A reading above 50 indicates expansion in the manufacturing sector. It was the second month in a row the sector has grown after contracting through the summer. ...

Storm Sandy knocks October auto sales below estimates Posted: 01 Nov 2012 08:29 AM PDT DETROIT (Reuters) - General Motors Co and Chrysler Group LLC both reported their strongest U.S. sales for the month of October since the financial crisis sent both U.S. automakers into bankruptcy, but the destruction of storm Sandy will cause the sector to miss overall sales expectations. Ford Motor Co's sales last month edged up 0.4 percent, while Toyota Motor Corp's sales rose about 16 percent. GM sales rose 4.7 percent to 195,764 vehicles, while those at Chrysler, an affiliate of Italy's Fiat SpA, increased 10 percent to 126,185 vehicles. ...

Data points to slow healing in labor market Posted: 01 Nov 2012 07:29 AM PDT WASHINGTON (Reuters) - Companies added jobs in October at the fastest pace in eight months, a sign of modest healing in the labor market just days before a presidential election that could hinge on the economy. Other data on Thursday showed a drop in new claims for jobless benefits last week and a sharp improvement in consumer confidence in October, while there were mixed signals regarding the health of the factory sector. Payrolls processor Automatic Data Processing said private employers added 158,000 workers last month. That was the biggest gain since February. ...

Knight Capital says business as usual after power issue resolved Posted: 01 Nov 2012 07:45 AM PDT NEW YORK (Reuters) - Knight Capital Group said on Thursday it was processing stock orders as usual after resolving a backup power generator issue that forced the brokerage to instruct its clients to route orders elsewhere for part of Wednesday. The Jersey City, New Jersey-based company's backup generators went down at around 11:45 a.m. on Wednesday after running low on fuel, according to an internal memo seen by Reuters. The company's critical trading systems then switched to battery power, which continued until the generators were restored at around 2 p.m., the memo said. ...

Ford sets succession plan, Mulally staying through 2014 Posted: 01 Nov 2012 09:01 AM PDT (Reuters) - Ford Motor Co promoted long-time executive Mark Fields to chief operating officer as part of a management shuffle announced on Thursday that keeps Alan Mulally as chief executive for at least two more years. The plan, which stopped short of formally naming Fields as Mulally's successor, puts Fields, age 51, in charge of the weekly business review meetings that have been one the most visible signs of cultural change at Ford since Mulally was hired in 2006. ...

Chesapeake to use $2 billion in loans to cut debt costs Posted: 01 Nov 2012 06:19 AM PDT (Reuters) - Chesapeake Energy Corp said Thursday it is working with banks to issue $2 billion in debt to pay off more-expensive loans on its bloated balance sheet. The company said it is setting up a five-year term loan facility, and would use proceeds to pay off a loan it obtained in May of this year, as well as other debt. It Is not clear yet what the interest rate would be for the new loan, as it has not been priced yet, but executives want to repay several expensive loans with rates all above 6 percent. ...

Moody's says Sandy will test municipalities' liquidity Posted: 01 Nov 2012 07:59 AM PDT NEW YORK (Reuters) - Massive storm Sandy might put strains on the liquidity of some municipalities facing unbudgeted costs related to clean-up and repairs, Moody's rating agency said on Thursday. The Wall Street ratings agency said that although the track record of recovering from natural disasters is "extremely strong" for U.S. municipal issuers, there are risks. Up-front clean-up costs may exceed budgeted contingencies, aid from higher levels of government could be delayed and insurance reimbursement could arrive too late, it said. (Reporting by Tiziana Barghini; Editing by James Dalgleish)

Automakers report sales increases despite storm Posted: 01 Nov 2012 08:14 AM PDT Major automakers are reporting sales increases for October despite losing three days of business to the punishing rain and wind from Superstorm Sandy.

Retailers report strong sales gains for October Posted: 01 Nov 2012 07:36 AM PDT Americans spent briskly in October before Superstorm Sandy hit the Northeast, but they may not continue to do so during the busy holiday shopping season.

Strong run of US economic data boosts markets Posted: 01 Nov 2012 08:50 AM PDT A run of impressive U.S. economic news combined with encouraging signals out of China to drive markets higher on Thursday, a day ahead of key jobs data that could have a bearing on the race to the White House.

US stocks rise on strong consumer confidence data Posted: 01 Nov 2012 08:53 AM PDT Stocks are rising sharply on Wall Street on the latest hopeful signs about the U.S. economy, including a jump in consumer confidence.

Weekly applications for US jobless aid dip to 363K Posted: 01 Nov 2012 08:19 AM PDT Applications for U.S. unemployment benefits dropped 9,000 to a seasonally adjusted 363,000 last week, a level consistent with modest hiring.

US consumer confidence at highest since Feb. 2008 Posted: 01 Nov 2012 08:39 AM PDT Americans' confidence in the economy surged last month to the highest level in nearly five years, as many were encouraged by an improving job market.

US builders boost September spending 0.6 percent Posted: 01 Nov 2012 08:23 AM PDT U.S. builders spent more on home construction in September, a gain that helped offset weakness in nonresidential building and government projects.

Kellogg says Pringles helped fatten profits Posted: 01 Nov 2012 08:45 AM PDT Kellogg's appetite for salty snacks is helping fatten its profits.

US manufacturing expands at faster pace in October Posted: 01 Nov 2012 08:23 AM PDT U.S. manufacturing expanded for the second straight month in October, boosted by growth in new orders and production.

Average US rate on 30-year loan dips to 3.39 pct. Posted: 01 Nov 2012 08:28 AM PDT The average U.S. rate on a 30-year fixed mortgage slipped this week and stayed near its record low, a trend that's helped boost home sales and refinancing.

Mis-sold loan insurance costs Lloyds another 1 billion pound Posted: 01 Nov 2012 08:54 AM PDT LONDON (Reuters) - Lloyds Banking Group took another 1 billion pound hit to compensate customers mis-sold loan insurance, taking its charge for the scandal to 5.3 billion and dragging it to a third-quarter loss. Britain's biggest retail bank had already set aside 4.3 billion pounds to repay customers wrongly sold payment protection insurance (PPI), in what has become one of Britain's biggest consumer finance debacles. Lloyds provisions are far higher than rivals because it had the biggest share of the PPI market. The bank said on Thursday it had paid out or spent 3. ...

Catamaran raises profit forecast after buying Catalyst Posted: 01 Nov 2012 08:54 AM PDT (Reuters) - Pharmacy benefit manager Catamaran Corp raised its earnings forecast for the year after completing its $4.4 billion acquisition of rival Catalyst Health Solutions, which will help it benefit from the new U.S. healthcare law. Catamaran, formerly known as SXC Health Solutions, said third-quarter revenue more than doubled to $3.2 billion as it added new customers and integrated the existing customers of Catalyst and HealthTran LLC, a pharmacy benefit manager (PBM) it bought earlier this year. ...

US stocks rise on strong consumer confidence data Posted: 01 Nov 2012 08:53 AM PDT Stocks are rising sharply on Wall Street on the latest hopeful signs about the U.S. economy, including a jump in consumer confidence.

Strong run of US economic data boosts markets Posted: 01 Nov 2012 08:50 AM PDT A run of impressive U.S. economic news combined with encouraging signals out of China to drive markets higher on Thursday, a day ahead of key jobs data that could have a bearing on the race to the White House.

Soft drink maker Cott's profit falls on lower volumes Posted: 01 Nov 2012 08:47 AM PDT (Reuters) - Canadian soft drink maker Cott Corp reported a 10 percent fall in third-quarter profit on lower volumes in North America and the United Kingdom. Net income attributed to Cott Corp fell to $14.5 million, or 15 cents per share, from $16.2 million, or 17 cents per share, a year earlier. Quarterly revenue at the company, which makes private-label soft drinks for retailers such as Wal-Mart Stores Inc , fell about 5 percent to $583.8 million. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Roshni Menon)

Kellogg says Pringles helped fatten profits Posted: 01 Nov 2012 08:45 AM PDT Kellogg's appetite for salty snacks is helping fatten its profits.

Report: Small biz continues slow pace of hiring Posted: 01 Nov 2012 08:47 AM PDT Small businesses kept to their slow pace of hiring during October, according to a report Thursday by payroll service ADP.

Ford's Mark Fields promoted, could become CEO Posted: 01 Nov 2012 08:43 AM PDT Longtime Ford executive Mark Fields was named chief operating officer of the company on Thursday, putting him in line to replace CEO Alan Mulally as soon as 2015.

US consumer confidence at highest since Feb. 2008 Posted: 01 Nov 2012 08:39 AM PDT Americans' confidence in the economy surged last month to the highest level in nearly five years, as many were encouraged by an improving job market.

Storm-crippled NYC subway creaks back into service Posted: 01 Nov 2012 08:39 AM PDT Subways started running again in much of New York City on Thursday for the first time since Superstorm Sandy, but traffic at bridges backed up for miles, long lines formed at gas stations, and crowds of hundreds of people, some with short tempers, waited for buses.

Canadian dollar rallies on bullish U.S. data Posted: 01 Nov 2012 08:37 AM PDT TORONTO (Reuters) - Canada's dollar firmed versus the greenback on Thursday after data showed the pace of growth in the U.S. manufacturing sector picked up modestly in October, while consumer confidence rose to its highest level in more than four years. The currency rallied to as high as C$0.9962 to the U.S. dollar, or $1.0038, from around C$0.9982, or $1.0018, immediately before the data releases. It had already been reversing early losses on positive signs on the U.S. labor market a day before closely watched North American employment data is released. ...

Wall Street jumps 1 percent on strong labor market data Posted: 01 Nov 2012 08:37 AM PDT NEW YORK (Reuters) - Stocks climbed 1 percent on Thursday after both weekly jobless claims and data on growth in private-sector jobs pointed to improving labor market conditions a day before the government's closely watched monthly jobs report. Equities extended gains throughout the morning, though volume remained soft in the aftermath of the massive storm Sandy in the U.S. northeast, which forced a historic two-day market closure at the beginning of the week. Weekly jobless claims unexpectedly fell in the latest week, dropping to 363,000 from a revised 372,000 in the previous week. ...

Oil prices rise on supply constraints in Northeast Posted: 01 Nov 2012 08:36 AM PDT The price of oil is rising as operations at refineries and supply terminals in the Northeast remain restricted three days after Superstorm Sandy.

Storm Sandy knocks October auto sales below estimates Posted: 01 Nov 2012 08:29 AM PDT DETROIT (Reuters) - General Motors Co and Chrysler Group LLC both reported their strongest U.S. sales for the month of October since the financial crisis sent both U.S. automakers into bankruptcy, but the destruction of storm Sandy will cause the sector to miss overall sales expectations. Ford Motor Co's sales last month edged up 0.4 percent, while Toyota Motor Corp's sales rose about 16 percent. GM sales rose 4.7 percent to 195,764 vehicles, while those at Chrysler, an affiliate of Italy's Fiat SpA, increased 10 percent to 126,185 vehicles. ...

Greek publisher tried over alleged Swiss bank list Posted: 01 Nov 2012 08:29 AM PDT A magazine publisher has gone on trial for printing an alleged list of Greeks with bank accounts in Switzerland — a topic of fierce political debate in the debt-crippled country.

Average US rate on 30-year loan dips to 3.39 pct. Posted: 01 Nov 2012 08:28 AM PDT The average U.S. rate on a 30-year fixed mortgage slipped this week and stayed near its record low, a trend that's helped boost home sales and refinancing.

US worker productivity grew 1.9 pct. rate in Q3 Posted: 01 Nov 2012 08:26 AM PDT U.S. worker productivity grew at the same modest rate this summer as in spring, a sign that companies may be nearing the limits on how much output they can get from their employees.

US manufacturing expands at faster pace in October Posted: 01 Nov 2012 08:23 AM PDT U.S. manufacturing expanded for the second straight month in October, boosted by growth in new orders and production.

US builders boost September spending 0.6 percent Posted: 01 Nov 2012 08:23 AM PDT U.S. builders spent more on home construction in September, a gain that helped offset weakness in nonresidential building and government projects.

New estimate for economic damage from storm: $50B Posted: 01 Nov 2012 08:23 AM PDT The total economic damage from Superstorm Sandy could run as high as $50 billion, according to new estimates from the forecasting firm Eqecat. The new numbers are more than double the firm's previous estimate.

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