Yahoo! News: Health News

---

• Blue chips lead Wall Street bounce back
• Apple shares tumble 4 percent in heavy trade
• Citigroup cutting 11,000 jobs, taking $1 billion in charges
• Freeport to buy Plains, McMoRan Exploration for $9 billion
• Storm hits hiring in November; service sector expands
• Starbucks back on expansion path in Americas, China
• Credit Suisse moves Russia investment banking department to London
• PIMCO makes it easier for shareholders to nominate directors
• U.S. aerospace industry projects tenth straight growth year
• Britain to miss debt-cutting goal, growth targets
• Big miner buys pair of energy companies for $9B
• Citigroup to cut more than 11,000 jobs
• LA ports reopening after crippling strike
• Growth of US service firms accelerated last month
• Starbucks to open 1,500 more cafes in the US
• Stocks mostly rise on Wall Street, led by banks
• Expert panel: NASA seems lost in space, needs goal
• US factory orders up 0.8 percent in October
• Oil down with Cushing inventory nearly flat
• EU imposes massive fine on TV, monitor producers

Blue chips lead Wall Street bounce back Posted: 05 Dec 2012 08:48 AM PST NEW YORK (Reuters) - Stocks swung back to positive territory in late morning trading on Wednesday, led by gains in Dow components Caterpillar and The Travelers , while Citigroup's 5 percent gain boosted bank stocks. The Dow Jones industrial average rose 72.71 points, or 0.56 percent, to 13,024.49. The S&P 500 edged up 1.49 points, or 0.11 percent, to 1,408.54. The Nasdaq Composite dropped 17.86 points, or 0.60 percent, to 2,978.82. Apple shares, down more than 4 percent, were the biggest drag on the Nasdaq. (Reporting by Rodrigo Campos; Editing by Jan Paschal)

Apple shares tumble 4 percent in heavy trade Posted: 05 Dec 2012 09:33 AM PST NEW YORK/SAN FRANCISCO (Reuters) - Shares of Apple Inc tumbled nearly 4 percent on Wednesday, rounding off a bleak ten weeks for the most valuable U.S. company, with analysts citing factors such as increasing competition in the tablet market. The stock was one of the biggest percentage losers on the S&P 500, dropping 5.2 percent to $545.56 at one point as more than 17 million shares changed hands, putting it on track to surpass the company's average daily volume over 50 days of 21 million shares. The stock's massive size meant the retreat was responsible for two-thirds of the 1. ...

Citigroup cutting 11,000 jobs, taking $1 billion in charges Posted: 05 Dec 2012 08:52 AM PST (Reuters) - Citigroup Inc, which has lagged behind its peers in recovering from the financial crisis, said it is cutting 11,000 jobs worldwide, about 4 percent of its staff, to save as much as $1.1 billion a year in expenses. The move will initially result in pre-tax charges of $1 billion against fourth-quarter earnings, the No. 3 U.S. bank by assets said on Wednesday. The cuts are Chief Executive Michael Corbat's first major steps to reorganize the company since he took the reins in October after directors pushed out his predecessor, Vikram Pandit. Investors welcomed the news. ...

Freeport to buy Plains, McMoRan Exploration for $9 billion Posted: 05 Dec 2012 08:23 AM PST (Reuters) - Freeport-McMoRan Copper & Gold Inc said Wednesday it would buy Plains Exploration & Production Co and McMoRan Exploration Co for a total of $9 billion in cash and stock in a major expansion into the energy sector. The deal will also leave Freeport with $20 billion in debt, which scared some investors and sent Freeport shares sliding 13 percent in morning trade. The cost of protecting its debt against default also rose sharply. ...

Storm hits hiring in November; service sector expands Posted: 05 Dec 2012 08:08 AM PST NEW YORK (Reuters) - Private-sector hiring took a hit in November due to the impact of storm Sandy that ravaged consumers and businesses in the northeastern United States, but the huge services sector continued to expand albeit at a modest pace. The ADP National Employment Report, which is closely watched as it comes two days ahead of the government's monthly employment report, showed that the private sector added 118,000 jobs during the month, below expectations for a gain of 125,000. ...

Starbucks back on expansion path in Americas, China Posted: 05 Dec 2012 08:32 AM PST NEW YORK (Reuters) - Starbucks Corp plans to increase the number of its cafes in the Americas by more than 20 percent by opening more than 3,000 new shops there in the next five years as it looks to rely on tea and juice as much as coffee, it said on Wednesday. The world's largest coffee chain is also finished with acquisitions for the time being, after buying juice seller Evolution Fresh for $30 million and Bay Bread LLC's La Boulange Bakery for $100 million over the last 13 months. Starbucks also has an agreement to purchase tea store chain Teavana Holdings Inc for $620 million. ...

Credit Suisse moves Russia investment banking department to London Posted: 05 Dec 2012 09:37 AM PST MOSCOW (Reuters) - Credit Suisse is to move its Moscow investment banking advisory operation to London as part of a cost-cutting drive, a source familiar with the matter said, as a dearth of deals pushes foreign bankers away from the Russian capital. The news on Wednesday marks a significant, but not complete retreat from a market which Credit Suisse entered in the chaos that followed the break-up of the Soviet Union and did not abandon despite the hit it took in Russia's 1998 financial crash. ...

PIMCO makes it easier for shareholders to nominate directors Posted: 05 Dec 2012 07:00 AM PST (Reuters) - PIMCO is making it easier for shareholders to nominate trustees to the board that oversees star manager Bill Gross's giant bond fund and dozens of other offerings, drawing praise from analysts and academics concerned about fund oversight. The move could help PIMCO to improve the middling grades it has received for its fund stewardship. But it also could heat up the ongoing debate over just how much oversight fund boards provide. ...

U.S. aerospace industry projects tenth straight growth year Posted: 05 Dec 2012 09:28 AM PST WASHINGTON (Reuters) - U.S. aerospace and arms companies are poised for sales growth in 2013 for what would be their 10th straight year, even as the Pentagon prepares to cut its purchases as much as 10 percent, the industry's chief trade group said Wednesday. One of the economy's bright spots, these companies continued to lead the United States in the net export of manufactured goods, buoyed by strong civil aircraft sales, the Aerospace Industries Association said. Exports rose to an estimated $95.5 billion this year from $85. ...

Britain to miss debt-cutting goal, growth targets Posted: 05 Dec 2012 06:00 AM PST LONDON (Reuters) - Britain's finance minister said on Wednesday he would break a key debt-cutting promise and warned that growth will be weaker than expected in a bleak outlook that could damage his party's hopes of winning a 2015 election. In a budget update to parliament, George Osborne said weak growth meant he would be a year late in meeting a self-imposed target of seeing debt falling as a percentage of Britain's national output by 2015/16. ...

Big miner buys pair of energy companies for $9B Posted: 05 Dec 2012 09:39 AM PST Mining company Freeport-McMoRan is buying a pair of oil and gas producers for $9 billion, creating a natural resources conglomerate with assets ranging from oil rigs in the Gulf of Mexico to mines in Indonesia.

Citigroup to cut more than 11,000 jobs Posted: 05 Dec 2012 08:30 AM PST Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4 percent of Citi's workforce of 262,000.

LA ports reopening after crippling strike Posted: 05 Dec 2012 09:14 AM PST Work resumed Wednesday at the nation's busiest port complex after a crippling strike was settled, ending an eight-day walk-off that affected thousands of jobs and billions of dollars in cargo.

Growth of US service firms accelerated last month Posted: 05 Dec 2012 08:24 AM PST U.S. service companies grew at a slightly faster pace in November because sales and new orders rose, a good sign for the economy.

Starbucks to open 1,500 more cafes in the US Posted: 05 Dec 2012 09:40 AM PST Another Starbucks may soon pop up around the corner, with the world's biggest coffee company planning to add at least 1,500 cafes in the U.S. over the next five years.

Stocks mostly rise on Wall Street, led by banks Posted: 05 Dec 2012 08:59 AM PST Stocks are mostly higher on Wall Street, led by banks and energy companies.

Expert panel: NASA seems lost in space, needs goal Posted: 05 Dec 2012 08:25 AM PST NASA is adrift without a coherent vision for where it should be going, an independent panel of space, science and engineering experts says.

US factory orders up 0.8 percent in October Posted: 05 Dec 2012 08:42 AM PST Orders to U.S. factories rose modestly in October, helped by a big gain in demand for equipment that reflects business investment plans.

Oil down with Cushing inventory nearly flat Posted: 05 Dec 2012 09:15 AM PST Oil prices fell on Wednesday after the government reported that stocks of crude are still running much higher than usual for this time of year.

EU imposes massive fine on TV, monitor producers Posted: 05 Dec 2012 08:05 AM PST For years, some top managers at electronics multinationals would hold secretive meetings in Europe and Asia to fix the global market on the most expensive part of television and computer monitors.

You are subscribed to email updates from Business News Headlines - Yahoo! News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610