Saturday, December 8, 2012

Yahoo! News: Health News

Yahoo! News: Health News

Wall Street Week Ahead: "Cliff" worries may drive tax selling

Posted: 07 Dec 2012 05:58 PM PST

A holiday decoration is seen over Wall St. sign outside the New York Stock ExchangeNEW YORK (Reuters) - Investors typically sell stocks to cut their losses at year end. But worries about the "fiscal cliff" - and the possibility of higher taxes in 2013 - may act as the greatest incentive to sell both winners and losers by December 31. The $600 billion of automatic tax increases and spending cuts scheduled for the beginning of next year includes higher rates for capital gains, making tax-loss selling even more appealing than usual. Tax-related selling may be behind the weaker trend in the shares of market leader Apple , analysts said. ...

Exclusive: U.S. authorities probe SAC for Weight Watchers - sources

Posted: 07 Dec 2012 08:43 PM PST

Exterior of Headquarters of SAC Capital Advisors, L.P. in Stamford(Reuters) - U.S. authorities are investigating Steven A. Cohen's SAC Capital Advisors hedge fund for possible insider trading in the shares of the popular diet company Weight Watchers International Inc, according to people familiar with the matter. The investigation focuses on trading in Weight Watchers shares in the first half of 2011, when SAC Capital had taken a sizeable position in the stock, and potentially could implicate the billionaire hedge fund manager, the sources said on Friday. Regulatory filings show that Cohen's $14 billion fund briefly held 2. ...

Investors offer about 30 billion euros in Greek debt buyback: source

Posted: 08 Dec 2012 03:22 AM PST

ATHENS (Reuters) - Greece is set to purchase back about half of its debt owned by private investors, broadly succeeding in a bond buyback that is key to the country's international bailout, a Greek government official said on Saturday. Greek and foreign bondholders offered the targeted 30 billion euros ($38.8 billion) in the deal, which is central to efforts by Greece's euro zone and International Monetary Fund lenders to cut its debt to manageable levels. "The buyback went well in broad terms. ...

US Air makes merger offer, AMR pilots approve labor deal

Posted: 07 Dec 2012 03:34 PM PST

A US Airways plane passes American Airlines planes at Ronald Reagan National Airport in WashingtonNEW YORK (Reuters) - US Airways Group Inc has made a formal merger proposal to American Airlines parent AMR Corp and its creditors that could value the combined airline at around $8.5 billion, two people familiar with the matter said on Friday. Details of the proposal emerged as American Airlines pilots voted to ratify a new union contract on Friday, ending a years-long labor dispute and stabilizing the carrier as it tries to emerge from bankruptcy. ...

Foreigners seen offering 15-16 billion euros in Greek debt buyback - papers

Posted: 08 Dec 2012 12:17 AM PST

ATHENS (Reuters) - Foreign investors have offered between 15 and 16 billion euros ($19.4-20.7 billion) of Greek government bonds in a debt buy-back programme, according to an initial estimate given by newspapers on Saturday. The plan is central to efforts by Greece's euro zone and International Monetary Fund lenders to cut its borrowing to manageable levels and unlock aid. The preliminary estimate cited by financial dailies Naftemporiki and Imerisia would suggest the buyback plan is on track to succeed. ...

Goldman Sachs fined $1.5 million for trading glitch

Posted: 07 Dec 2012 12:20 PM PST

Traders work in the Goldman Sachs stall on the floor of the New York Stock ExchangeWASHINGTON (Reuters) - Goldman Sachs Group Inc was fined $1.5 million to settle charges it failed to supervise its traders and allowing one futures dealer to hide billions in dollars from sight and causing a $118 million loss. Ex-Goldman trader Matthew Marshall Taylor in 2007 camouflaged an $8.3 billion position, manually entering fake trades, the Commodity Futures Trading Commission (CFTC) said on Friday. "Goldman failed to have policies or procedures reasonably designed to detect and prevent the manual entry of fabricated futures trades into its front office systems," the top U.S. ...

Former IndyMac officers found liable for $168 million in negligent loans

Posted: 07 Dec 2012 06:30 PM PST

NEW YORK (Reuters) - Three former officers of IndyMac Bank FSB's homebuilder division were found liable by a jury on Friday for more than $168 million for negligently lending to developers who were unlikely to repay millions of dollars in loans. The Federal Deposit Insurance Corp brought a civil lawsuit against the officers in 2010 in its capacity as receiver for the now-defunct IndyMac. The agency alleged that the officers of "significant departures from safe and sound banking practices" in an attempt to rev up IndyMac's loan production despite warnings about an imminent market decline. ...

Chinese group in talks to buy AIG air lease arm

Posted: 07 Dec 2012 03:28 PM PST

Logo on headquarters of American International Group Inc. (AIG) in New YorkHONG KONG/NEW YORK (Reuters) - A group of Chinese companies, including Industrial and Commercial Bank of China (ICBC), is in talks to buy nearly all of American International Group Inc's aircraft leasing unit for about $5.5 billion, AIG said on Friday. The deal is expected to be announced as soon as early next week, a source familiar with the matter said on condition of anonymity. AIG, which has been selling assets to pay back a $182 billion U.S. ...

USDA chief: Rural America becoming less relevant

Posted: 08 Dec 2012 08:30 AM PST

FILE - In this July 18, 2012, file photo, Agriculture Secretary Tom Vilsack talks about the drought during a press briefing at the White House in Washington. Vilsack has some harsh words for rural America: It's "becoming less and less relevant," he says. A month after an election that Democrats won even as rural parts of the country voted overwhelmingly Republican, the former Democratic governor of Iowa told farm belt leaders this past week that he's frustrated with their internecine squabbles and says they need to be more strategic in picking their political fights. "It's time for us to have an adult conversation with folks in rural America," Vilsack said in a speech at a forum sponsored by the Farm Journal. "It's time for a different thought process here, in my view." He said rural America's biggest assets — the food supply, recreational areas and energy, for example — can be overlooked by people elsewhere as the U.S. population shifts more to cities, their suburbs and exurbs. (AP Photo/Charles Dharapak, File)Agriculture Secretary Tom Vilsack has some harsh words for rural America: It's "becoming less and less relevant," he says.

'Walking Dead' wins game of the year at Spike VGAs

Posted: 07 Dec 2012 09:42 PM PST

An orchestra performs the musical themes for game of the year nominees on stage at Spike's 10th Annual Video Game Awards at Sony Studios on Friday, Dec. 7, 2012, in Culver City, Calif. (Photo by Chris Pizzello/Invision/AP)"The Walking Dead: The Game" took a bite out of the Spike Video Game Awards.

US job gains defy Sandy and fears of fiscal cliff

Posted: 07 Dec 2012 04:11 PM PST

In this Friday, Nov. 30, 2012 photo, a person fills out an application at the Fort Lauderdale Career Fair, in Dania Beach, Fla. The U.S. economy added a solid 146,000 jobs in November and the unemployment rate fell to 7.7 percent, the lowest since December 2008, the Labor Department announced Friday, Dec. 7, 2012. The government said Superstorm Sandy had only a minimal effect on the figures. (AP Photo/J Pat Carter)It takes more than a superstorm to derail the U.S. job market.

Apple holds back S&P, Nasdaq; Dow ends higher

Posted: 07 Dec 2012 01:47 PM PST

FILE - In this Thursday, Dec. 6, 2012, file photo, specialist Michael O'mara, left, and trader Robert Moran work on the floor of the New York Stock Exchange, in New York. Stock markets were in a holding pattern ahead of a U.S. jobs report later Friday Dec. 7, 2012 that is expected to reflect a downturn in hiring following a massive storm but could also show that the American economy is otherwise bouncing back. (AP Photo/Richard Drew, File)Apple spoiled the stock market's party on Friday.

US consumer borrowing rises to record $2.75T

Posted: 07 Dec 2012 06:42 PM PST

credit cardAmericans swiped their credit cards more often in October and borrowed more to attend school and buy cars. The increases drove U.S. consumer debt to an all-time high.

Why is Wall Street losing its appetite for Apple?

Posted: 07 Dec 2012 01:13 PM PST

FILE - In this Tuesday, Aug. 21, 2012, file photo, the Apple logo is shown on a stock ticker at the Nasdaq MarketSite, in New York. Apple is entering the home stretch of what will likely be its best holiday season yet as shoppers snap up iPhones and iPads in record numbers in December 2012. Yet the world's most valuable company has lost its luster among investors, causing Apple's stock price to plunge by more than 20 percent from a peak reached less than three months ago when the latest iPhone went on sale. (AP Photo/Mark Lennihan)This holiday season is shaping up to be a record-breaking period for Apple as shoppers snap up iPhones and iPads. So, why is the world's most valuable company losing its luster with investors?

Pilots approve new contract with American Airlines

Posted: 07 Dec 2012 04:49 PM PST

American Airlines is closer to exiting from bankruptcy and possibly merging with US Airways after its pilots approved a new labor contract.

UN conference adopts extension of Kyoto accord

Posted: 08 Dec 2012 09:08 AM PST

Local and international activists march inside a conference center under a giant statue of a spider to demand urgent action to address climate change at the U.N. climate talks in Doha, Qatar, Friday, Dec. 7, 2012. A dispute over money clouded U.N. climate talks Friday, as rich and poor countries sparred over funds meant to help the developing world cover the rising costs of mitigating global warming and adapting to it. (AP Photo/Osama Faisal)A U.N. climate conference agreed Saturday to extend the Kyoto Protocol, a treaty that limits the greenhouse gas output of some rich countries but which will only cover about 15 percent of global emissions.

Canada OKs CNOOC's takeover bid for Nexen

Posted: 07 Dec 2012 08:09 PM PST

This Tuesday, July 10, 2012 aerial photo shows a Nexen oil sands facility near Fort McMurray, Alberta, Canada. On Friday, Dec. 7, 2012, Canada approved China's biggest overseas energy acquisition, a $15.1 billion takeover by state-owned CNOOC of Canadian oil and gas producer Nexen. (AP Photo/The Canadian Press, Jeff McIntosh)Canada approved China's biggest overseas energy acquisition, a $15.1 billion takeover by state-owned CNOOC of Canadian oil and gas producer Nexen, but vowed Friday to reject any future foreign takeovers in the oil sands sector by state-owned companies.
Posted by Harshad at 9:26 AM

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