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• Wall Street rallies on China data (Reuters)
• Kraft to cut 1,600 jobs in split (Reuters)
• Analysis: Rescue fund downgrade raises pressure on euro zone (Reuters)
• Citigroup profit falls 11 percent, misses Street view (Reuters)
• Sears stock rises on speculation it may go private (Reuters)
• Investors exit stock funds for 8th month in a row (AP)
• Instant view: NY manufacturing growth accelerates in January (Reuters)
• Lee Enterprises 1Q profit falls 23 percent (AP)
• Greece in race against time to avoid default (AP)
• Wells Fargo net rises on deposits, lending growth (AP)
• CA-CANADA Summary (Reuters)
• Retailers in for steady, modest growth in 2012 (Reuters)
• Bank foreclosing on O.J. Simpson's Florida house (AP)
• Oil prices rise on China economic report (AP)
• Key numbers to have when filing tax returns (AP)
• New labor leader at GM's Opel a break with past (Reuters)

Wall Street rallies on China data (Reuters) Posted: 17 Jan 2012 09:57 AM PST Reuters - U.S. stocks gained on Tuesday as brighter sentiment about China's growth prospects overshadowed Europe's recent credit downgrades and a mixed bag of big bank earnings.

Kraft to cut 1,600 jobs in split (Reuters) Posted: 17 Jan 2012 09:59 AM PST Reuters - Kraft Foods Inc said that splitting into two companies would lead it to cut about 1,600 jobs in North America this year and that its 2011 profit should be slightly higher than it had previously forecast.

Analysis: Rescue fund downgrade raises pressure on euro zone (Reuters) Posted: 17 Jan 2012 09:14 AM PST Reuters - Political resistance is clashing with financial imperatives as the euro zone tries to strengthen its capacity to rescue debt-stricken member states after Europe's temporary bailout fund lost its top-notch credit rating.

Citigroup profit falls 11 percent, misses Street view (Reuters) Posted: 17 Jan 2012 09:10 AM PST Reuters - Citigroup Inc's fourth-quarter profit fell 11 percent and missed Wall Street estimates as the European debt crisis battered capital markets, hurting trading revenue and discouraging clients from doing deals.

Sears stock rises on speculation it may go private (Reuters) Posted: 17 Jan 2012 10:13 AM PST Reuters - The shares and options of Sears Holdings Corp rose on Tuesday on speculation the operator of Sears department stores and the Kmart discount chain could go private.

Investors exit stock funds for 8th month in a row (AP) Posted: 13 Jan 2012 02:18 PM PST AP - The stock market ended up going nowhere in 2011 despite a bumpy ride, and investors continued to hit the exits. For the fifth year running, they withdrew more cash from stock mutual funds than they put in.

Instant view: NY manufacturing growth accelerates in January (Reuters) Posted: 17 Jan 2012 05:53 AM PST Reuters - A gauge of manufacturing in New York State showed growth picked up in January, rising to the highest level in nine months as new orders and employment improved, the New York Federal Reserve said in a report on Tuesday.

Lee Enterprises 1Q profit falls 23 percent (AP) Posted: 17 Jan 2012 10:02 AM PST AP - Lee Enterprises Inc., publisher of the St. Louis Post-Dispatch and other daily newspapers, on Tuesday reported a 23 percent drop in profit for its fiscal first quarter compared with a year ago, when it posted a large gain after curtailing retiree health benefits.

Greece in race against time to avoid default (AP) Posted: 17 Jan 2012 10:33 AM PST AP - Greece resumed talks with its international debt inspectors Tuesday, facing a race against the clock to avoid becoming the first country that uses the euro to default on its debts and potentially trigger a chain reaction that could ultimately destroy the European single currency itself.

Wells Fargo net rises on deposits, lending growth (AP) Posted: 17 Jan 2012 10:01 AM PST AP - A steadier mortgage business, higher commercial lending and an increase in deposits lifted Wells Fargo & Co.'s fourth-quarter profit by 20 percent.

CA-CANADA Summary (Reuters) Posted: 17 Jan 2012 09:28 AM PST Reuters - The Bank of Canada held its key policy rate at 1 percent on Tuesday, but forecast a faster Canadian recovery than expected despite an increasingly worrying outlook for the global economy.

Retailers in for steady, modest growth in 2012 (Reuters) Posted: 16 Jan 2012 12:18 PM PST Reuters - Hopefully, retailers liked 2011, because 2012 is looking like it will offer more of the same.

Bank foreclosing on O.J. Simpson's Florida house (AP) Posted: 16 Jan 2012 02:35 PM PST AP - Like tens of thousands of other Florida homeowners, imprisoned former football star O.J. Simpson is in danger of losing his house to foreclosure.

Oil prices rise on China economic report (AP) Posted: 17 Jan 2012 10:20 AM PST AP - Oil prices rose Tuesday on signs that China, the world's second-largest economy, may avoid a significant slowdown.

Key numbers to have when filing tax returns (AP) Posted: 17 Jan 2012 10:49 AM PST AP - Some key numbers to know when filing your 2011 tax returns, according to the Internal Revenue Service:

New labor leader at GM's Opel a break with past (Reuters) Posted: 17 Jan 2012 10:03 AM PST Reuters - General Motors Chief Executive Dan Akerson has a new partner to help fix his loss-making European unit Opel; a lanky German sociologist-turned-labor-leader with a reputation for avoiding the spotlight.

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