| Wall Street up on China, but U.S. factory data pares gains Posted: 03 Dec 2012 07:55 AM PST  NEW YORK (Reuters) - The S&P 500 edged up to rise for a fourth straight day on Monday as upbeat Chinese data lifted sentiment, but weak U.S. factory numbers cut into gains. Wall Street opened higher on that data but pared most of its gains after U.S. manufacturing unexpectedly contracted in November, falling to its lowest in over three years in a sign the sector may be struggling to gain traction. ...
|
| Manufacturing contracts to weakest in three years Posted: 03 Dec 2012 07:54 AM PST  NEW YORK (Reuters) - Manufacturing unexpectedly contracted in November, falling to its lowest level in over three years in a sign the sector may be struggling to gain traction, according to an industry report released on Monday. The Institute for Supply Management (ISM) said its index of national factory activity fell to 49.5 in November from 51.7 the month before. The reading was shy of expectations of 51.3, according to a Reuters poll of economists. The 50 level in the index is the line between expansion and contraction. The figure was the softest since July 2009 when the U.S. ...
|
| Supreme Court lets GM workers pursue case against State Street Posted: 03 Dec 2012 07:48 AM PST WASHINGTON (Reuters) - The Supreme Court is allowing General Motors Co employees whose pension plans lost money to pursue their case against a State Street Corp unit over its management of their retirement savings plans before the automaker went bankrupt. Without comment, the court refused on Monday to review the case and let stand a February ruling from a lower court that allowed the workers to sue State Street Bank and Trust Co. The 2009 lawsuit said the bank should have acted faster to sell a 401(k) investment fund's shares in GM stock after the automaker's business troubles came to light. ... |
| Credit agencies win legal victory over mortgage ratings Posted: 03 Dec 2012 07:47 AM PST  (Reuters) - The three major credit rating agencies won a fresh legal victory on Monday, when a federal appeals court rejected a lawsuit by Ohio pension funds that sought to recoup losses on risky mortgage debt they said were based on flawed, inflated ratings. The 6th U.S. Circuit Court of Appeals in Cincinnati upheld the September 2011 dismissal of the lawsuit against Moody's Corp's Moody's Investors Service, McGraw-Hill Cos' Standard & Poor's, and Fimalac SA's Fitch Ratings. ...
|
| Murdoch retains News Corp name for new publishing company Posted: 03 Dec 2012 07:49 AM PST  (Reuters) - Rupert Murdoch is keeping the News Corp name for his new publishing company in a nod to the important role that newspapers have played in building his media empire. "Many of you know that a belief in the power of the written word has been in my bones for my entire life," Murdoch, News Corp's chairman, wrote in a memo to employees obtained by Reuters. "I witnessed the hunger people had for well-written, thoroughly observed stories ... stories that provide not just information, but insight. ...
|
| Global manufacturing slump eases in November: PMIs Posted: 03 Dec 2012 08:31 AM PST  LONDON (Reuters) - The global manufacturing sector's slump eased in November as output rose for the first time in five months, a business survey showed on Monday. JPMorgan's Global Manufacturing PMI, published in conjunction with financial data company Markit, rose to 49.7 in November from 48.8 in October. November was its best reading since June but still slightly below the 50 mark that divides growth from contraction. The October reading was revised from 49.2 published last month because the survey methodology now uses Markit's own PMI for U.S. ...
|
| Several automakers post strong new-car sales Posted: 03 Dec 2012 08:29 AM PST  (Reuters) - Several automakers on Monday reported strong U.S. new-car sales for November as the industry rebounded from a storm-ravaged October while also benefiting from pent-up demand. Ford Motor Co posted better-than-expected sales and Chrysler Group LLC, Toyota Motor Corp , Nissan Motor Co and Hyundai Motor Co also saw strong increases that industry executives said should continue through the end of the year. "We are expecting a strong December as the industry continues to recover from the East Coast hurricane," Chrysler U.S. sales chief Reid Bigland said in a statement. ...
|
| November factory activity quickens, Sandy a factor: Markit Posted: 03 Dec 2012 06:21 AM PST  NEW YORK (Reuters) - Rising demand from domestic and foreign customers helped U.S. manufacturing grow in November at its quickest pace in six months, an industry survey showed on Monday, though hiring remained sluggish. Financial information firm Markit said its U.S. Manufacturing Purchasing Managers Index rose to 52.8 last month, rebounding from a more than three-year low of 51.0 in October. A reading above 50 indicates expansion. ...
|
| Fannie, Freddie place evictions on hold for the holidays Posted: 03 Dec 2012 08:16 AM PST  WASHINGTON (Reuters) - Fannie Mae and Freddie Mac said on Monday they would provide a break for borrowers facing foreclosure to ensure those having problems making monthly mortgage payments will remain in their homes during the holidays. Fannie Mae said its eviction moratorium would apply to single-family homes and two- to four-unit properties from December 19 through January 2, 2013. Freddie Mac said it would offer the suspension from December 17 through January 2, 2013. The aid allows families to avoid eviction during that time, but doesn't mean the foreclosure process will be put on hold. ...
|
| Delta among suitors for Virgin Atlantic stake: sources Posted: 03 Dec 2012 05:55 AM PST  LONDON/SINGAPORE (Reuters) - Singapore Airlines is in talks to sell its 49 percent stake in British carrier Virgin Atlantic, with sources saying Delta Air Lines is among the suitors keen to access Virgin's lucrative slots at London's Heathrow airport. Richard Branson's Virgin Group wants to keep its 51 percent stake in Virgin Atlantic and work with Delta if the U.S. carrier pulls off a deal, a source familiar with Branson's thinking added on Monday. Singapore Airlines said in a brief statement it was in talks with interested parties but did not name them. ...
|
| US manufacturing shrinks in November to 3-year low Posted: 03 Dec 2012 08:21 AM PST  U.S. manufacturing shrank in November to its weakest level since July 2009, the first month after the Great Recession ended. Worries about automatic tax increases in the New Year cut demand for factory orders and manufacturing jobs.
|
| Better economy, storm delays lift US auto sales Posted: 03 Dec 2012 08:25 AM PST  A better economy and extra demand after Superstorm Sandy lifted U.S. auto sales last month.
|
| News Corp.'s new media co. to be named Fox Group Posted: 03 Dec 2012 07:34 AM PST News Corp. said Monday that its new publishing company will keep the News Corp. name, while its separate media and entertainment company will be renamed Fox Group. |
| Stocks edge lower after weak manufacturing report Posted: 03 Dec 2012 08:29 AM PST  Stocks edged lower on Wall Street Monday morning after a report showed an unexpected contraction in U.S. manufacturing last month as concerns about automatic tax increases in the New Year caused factory orders to decline.
|
| US builders boost spending 1.4 percent in October Posted: 03 Dec 2012 07:41 AM PST U.S. builders increased their spending on construction projects in October by the largest amount in five months, led by a surge in housing. |
| Archer Daniels Midland raises offer for GrainCorp Posted: 03 Dec 2012 06:09 AM PST Agribusiness conglomerate Archer Daniels Midland Co. is increasing its buyout offer for GrainCorp by almost 4 percent and disclosed it has already added to its stake in the Australian grain handler. |
| White House to GOP: It's your move Posted: 03 Dec 2012 01:01 AM PST  The White House says Republicans should come clean about how much they're willing to raise tax rates on the rich. Republicans counter that President Barack Obama's latest plan is a joke that avoids tough decisions on the nation's biggest entitlement programs, including Medicare.
|
| Britain to clamp down on corporate tax avoidance Posted: 03 Dec 2012 05:13 AM PST  The British government said Monday it would spend more money catching tax avoiders, after a lawmakers' committee accused major multinational companies including Starbucks, Google and Amazon of "immorally" dodging tax.
|
| Oil drives higher on Chinese manufacturing report Posted: 03 Dec 2012 07:22 AM PST The price of oil is higher on word that China's manufacturing sector grew last month for the first time in more than a year. |
No comments:
Post a Comment