| Wall Street cuts losses on Boehner "fiscal cliff" comment Posted: 28 Nov 2012 08:09 AM PST  NEW YORK (Reuters) - Stocks sharply pared losses on Wednesday after U.S. House Speaker John Boehner said he was optimistic that a deal on the "fiscal cliff" to avert large tax hikes and spending cuts could be reached. After falling nearly 1 percent, the S&P 500 pared losses to trade near flat after Boehner said that Republicans were willing to put revenues on the table if Democrats agreed to spending cuts. For weeks now, the market has been swinging back and forth on headlines out of Washington regarding the ongoing U.S. budget talks. ...
|
| House speaker Boehner optimistic can avert fiscal crisis Posted: 28 Nov 2012 08:43 AM PST  WASHINGTON (Reuters) - House Speaker John Boehner voiced optimism that Republicans could broker a deal with the White House to avoid year-end austerity measures, saying on Wednesday that Republicans were willing to raise revenues if Democrats agreed to spending cuts. "I am optimistic that we can continue to work together to avert this crisis sooner rather than later," the Ohio Republican told reporters. "We (Republicans) put revenue on the table as long as it is accompanied by serious spending cuts to avert this crisis. ...
|
| U.S. bans BP from new government contracts after oil spill deal Posted: 28 Nov 2012 08:33 AM PST  WASHINGTON (Reuters) - The U.S. government temporarily banned BP Plc from new federal contracts on Wednesday over its "lack of business integrity" in the Deepwater Horizon oil spill in 2010, a move that the British company had said could force it to rethink its entire U.S. operations. The U.S. Environmental Protection Agency said the suspension was "standard practice" following criminal actions. On November 16, BP agreed to plead guilty to criminal misconduct in the Gulf of Mexico disaster, the worst offshore oil spill in U.S. history, and to pay record penalties of $4.5 billion. ...
|
| German inflation slows in November to hit ECB target Posted: 28 Nov 2012 08:58 AM PST BERLIN (Reuters) - German inflation eased slightly to 1.9 percent in November, bringing it into line with the European Central Bank's target ceiling for the first time since July and giving it some leeway to cut rates. Economist said the fall in inflation, helped by lower fuel costs, might also help reassure the German public that the ECB's policies to tackle the euro zone's debt crisis, such as its controversial bond buying program, did not threaten price stability in Germany. ... |
| Getco eyes $1.4 billion deal with Knight Capital Posted: 28 Nov 2012 09:08 AM PST  (Reuters) - Trading firm Getco Holding Co offered to merge with Knight Capital Group Inc to create one of the largest U.S. market makers for stocks and options. Getco's two-step deal values the combined company at $1.4 billion, sources familiar with the offer said. The combined firm would be publicly traded and would be headed by Getco Chief Executive Daniel Coleman; Knight CEO Tom Joyce would become chairman of the board, Getco said in a letter to Knight on Wednesday. A deal is by no means certain. ...
|
| Costco to pay out $3 billion in special dividend Posted: 28 Nov 2012 08:31 AM PST  (Reuters) - Costco Wholesale Corp on Wednesday said it will pay a special dividend totaling roughly $3 billion, the largest payout so far from any company ahead of a likely increase in the dividend tax. The retailer also posted monthly same-store sales that beat analysts' expectations. Shares of Costco, which charges a membership fee to let people shop at its stores for deals on everything from paper towels to diamond rings, rose 5.4 percent, or $5.10, to $101.68 in early trading. ...
|
| SEC might take action against SAC Capital Advisors Posted: 28 Nov 2012 07:52 AM PST  NEW YORK (Reuters) - The U.S. government has told hedge fund titan Steven A. Cohen's SAC Capital Advisors that it is likely to face civil charges over alleged insider trading at the $14 billion firm, a source familiar with the matter said on Wednesday. The Securities and Exchange Commission issued a so-called Wells notice to SAC, the firm told investors on a Wednesday telephone conference call, said the source, who listened to the call. ...
|
| Barclays says five staff fired over Libor rigging Posted: 28 Nov 2012 08:45 AM PST  LONDON (Reuters) - Barclays has fired five employees following its internal investigation of the rigging of Libor interest rates and disciplined another eight people, the head of its investment bank said on Wednesday. Rich Ricci, chief executive of Barclays' corporate and investment banking, said "a lot" of the individuals identified in its internal probe had left the bank so it could not take action against them. He said authorities had been told the details of those people. Barclays was fined $450 million in June by U.S. ...
|
| New home sales stagnant, casts shadow on housing Posted: 28 Nov 2012 07:44 AM PST  WASHINGTON (Reuters) - New single-family home sales fell slightly in October and the prior month's pace of sales was revised sharply lower, casting a small shadow over what has been one of the brighter spots in the U.S. economy. The Commerce Department said on Wednesday sales dropped 0.3 percent last month to a seasonally adjusted 368,000-unit annual rate. Government data for new home sales are subject to substantial revisions. Indeed, the Commerce Department cut its estimate for September's sales rate to 369,000 from 389,000. ...
|
| Spain to overhaul rescued banks as condition of aid Posted: 28 Nov 2012 07:14 AM PST  BRUSSELS/MADRID (Reuters) - Spain's four nationalized banks will more than halve their balance sheets in five years, cut jobs and impose losses on bondholders in order to receive a euro zone rescue package. The measures are a condition of 40 billion euros ($52 billion) in aid that offers hope for an end to a banking crisis which has pushed Spain to the brink of a sovereign bailout to keep the government afloat. ...
|
| BP suspended from new US gov't contracts Posted: 28 Nov 2012 08:53 AM PST  The Obama administration put a temporary stop to new federal contracts with British oil company BP on Wednesday, citing the company's "lack of business integrity" and criminal proceedings stemming from the Deepwater Horizon disaster in 2010.
|
| AP Exclusive: Disney, Sears used factory in fire Posted: 28 Nov 2012 09:06 AM PST  Amid the ash, broken glass and melted sewing machines at what is left of the Tazreen Fashions Ltd. factory, there are piles of blue, red and off-white children's shorts bearing Wal-Mart's Faded Glory brand. Shorts from hip-hop star Sean Combs' ENYCE label lay on the floor, along with a hooded Mickey Mouse sweatshirt from Disney.
|
| Stocks claw back on rising hope for a budget deal Posted: 28 Nov 2012 08:58 AM PST The stock market erased an early loss and was trading mixed at midday as hopeful signs emerged about the budget talks in Washington. |
| US sales of new homes dip 0.3 percent in October Posted: 28 Nov 2012 08:26 AM PST  U.S. sales of new homes fell slightly in October and September sales were slower than initially thought. The October sales pace was dragged lower by steep declines on the East Coast, partly related to Superstorm Sandy.
|
| Obama, Romney to meet at White House Thursday Posted: 28 Nov 2012 08:51 AM PST  President Barack Obama will host his former political rival Mitt Romney for a private lunch at the White House Thursday, their first meeting since the election.
|
| Charged exec cooperating in W.Va. mine blast probe Posted: 28 Nov 2012 08:39 AM PST An executive who ran several coal companies for Massey Energy and worked closely with former CEO Don Blankenship faces criminal conspiracy charges and is cooperating with federal prosecutors, a sign that authorities may be aiming their sights even higher in the company as they probe a fatal West Virginia blast that was the nation's worst mine disaster in four decades. |
| Big winners share lessons, risks of Powerball win Posted: 28 Nov 2012 08:32 AM PST  So you just won the $500 million Powerball jackpot, the second highest in lottery history. Now what?
|
| Getco makes $3.50 per share bid for Knight Capital Posted: 28 Nov 2012 06:41 AM PST Getco has made a cash-and-stock bid for the troubled trading firm Knight Capital that it values at $3.50 per share. |
| Nokia sues RIM for breach of contract Posted: 28 Nov 2012 09:01 AM PST Nokia Corp. is suing Research In Motion, the maker of the BlackBerry, for breach of contract in Britain, the United States and Canada over cellular patents the two companies agreed on nine years ago. |
| Senate Dems divided over cuts to benefit programs Posted: 28 Nov 2012 05:48 AM PST  Deep divisions among Senate Democrats over whether cuts to popular benefit programs like Medicare and Medicaid should be part of a plan to slow the government's mushrooming debt pose a big obstacle to a deal for avoiding a potentially economy-crushing "fiscal cliff," even if Republicans agree to raise taxes.
|
No comments:
Post a Comment