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• Boeing rises in otherwise flat day on Wall Street
• New home sales jump to near 2-1/2 year high in September
• Buffett says global economy slowing, wants more deals
• Ford to scrap Belgian plant to stem Europe losses
• Facebook wins back friends on Wall Street, shares soar
• Analysis: Citi board fight signals rise of the activist chairman
• Ex-Goldman director Gupta awaits sentence in insider case
• October factory activity edges up, growth still weak: Markit
• Adidas claims victory in "knitted" shoe row with Nike
• SocGen rogue trader Kerviel loses appeal against jail
• Stocks stabilize on Wall Street after a sell-off
• ECB's Draghi faces German lawmakers
• Boeing raises 2012 guidance as deliveries pick up
• US Airways posts record 3Q profit
• Best Buy offers exclusive Windows 8 deals, demos
• Prison, $7 billion fine for French rogue trader
• AT&T sees fewer new customers in 3Q
• EU sends Microsoft formal antitrust complaint
• Eurozone debt hits 90 percent of its economy
• BBC scandal raises questions for incoming NYT boss
• Boeing rises in otherwise flat day on Wall Street
• Rogers quarterly profit driven by wireless growth
• Ex-trader Kerviel says to launch fresh appeal
• Canada is attractive destination for foreign investment
• NY Times public editor asks if incoming CEO fit to serve
• Stocks stabilize on Wall Street after a sell-off
• Facebook wins back friends on Wall Street, shares soar
• Analysis: Citi board fight signals rise of the activist chairman
• ECB's Draghi faces German lawmakers
• Kimberly-Clark to exit low-profit European businesses
• Adidas claims victory in "knitted" shoe row with Nike
• Recall news
• Manulife to buy creditor insurance provider Benesure Canada
• Tougher times ahead for Netflix as competition heats up: analysts
• Corning may make job cuts as part of cost cuts
• Bank of Canada halves third-quarter growth view, rate hike further off
• Air Canada, United settle with Canada on routes
• CP Rail profit jumps 20 percent in new CEO's first-quarter
• Oil drops on big increase in US supplies
• Vivendi's Maroc Tel attracts four suitors: sources

Boeing rises in otherwise flat day on Wall Street Posted: 24 Oct 2012 09:14 AM PDT NEW YORK (Reuters) - Stocks were little changed on Wednesday, supported by a slight pickup in manufacturing and a surge in new home sales, while Boeing gained after raising its full-year forecast. The muted morning action suggested the market was attempting to find its footing after a 3.3 percent fall in the S&P 500 over the past four sessions. Weak earnings outlooks and top-line revenue misses from large multinational companies reignited worries about a slowing global economy. ...

New home sales jump to near 2-1/2 year high in September Posted: 24 Oct 2012 07:48 AM PDT WASHINGTON (Reuters) - New single-family home sales surged in September to their highest level in nearly 2-1/2 years, further evidence the housing market recovery is gaining steam. The Commerce Department said on Wednesday sales increased 5.7 percent to a seasonally adjusted 389,000-unit annual rate - the highest level since April 2010, when sales were boosted by a tax credit for first-time homebuyers. ...

Buffett says global economy slowing, wants more deals Posted: 24 Oct 2012 05:58 AM PDT (Reuters) - Warren Buffett sees clear signs that the global economy is slowing, although the U.S. economy is "inching ahead" as other regions decline, the Berkshire Hathaway chief executive officer said on Wednesday. Yet despite the weakness, Buffett said he was "salivating" to make another major acquisition, adding that two deals of around $20 billion each had fallen through this year. In an interview on CNBC, Buffett said the rate of decline was larger in Asia than in Europe, although the Asian economies are declining off a higher base. At the same time, he said Berkshire's U.S. ...

Ford to scrap Belgian plant to stem Europe losses Posted: 24 Oct 2012 07:40 AM PDT GENK, Belgium/MADRID (Reuters) - Ford Motor Co will close a Belgian factory employing more than 4,000 workers, shifting production to Spain as the U.S. automaker scrambles to cut costs and stem European losses. It was the third time this year a mass-market carmaker has announced plans to close a plant in Europe as the region's debt crisis, government spending cuts and high unemployment hits consumer budgets and demand for new cars. Ford said it would shut its Genk plant in eastern Belgium, with the loss of about 4,300 jobs by the end of 2014, transferring the work to a plant in Valencia. ...

Facebook wins back friends on Wall Street, shares soar Posted: 24 Oct 2012 08:57 AM PDT (Reuters) - Facebook Inc's shares headed towards their biggest one-day jump on Wednesday after the company reported a surprising rise in mobile advertising, easing concerns it was having trouble capitalizing on soaring use of smartphones and tablets. Facebook shares, sold for $38 each in their initial public offering in May, were up 20 percent at $23.61 in late morning trade. The stock was the top percentage gainer on the Nasdaq. Several brokerages raised their price targets on Facebook shares. ...

Analysis: Citi board fight signals rise of the activist chairman Posted: 24 Oct 2012 08:55 AM PDT NEW YORK (Reuters) - In the summer of 2011, Yahoo Inc's board decided enough was enough. Directors had seen the Internet giant's stock languish, and the answers they got from Carol Bartz, chief executive at the time, fell short of their expectations. So, the board held a final meeting in Los Angeles, away from Yahoo's Silicon Valley headquarters, to review the company's progress, a source familiar with the matter said. One of their conclusions? Fire Bartz, the source said. ...

Ex-Goldman director Gupta awaits sentence in insider case Posted: 23 Oct 2012 09:07 PM PDT NEW YORK (Reuters) - The sentencing on Wednesday of fallen Wall Street titan Rajat Gupta for insider trading could come down to whether a judge agrees that his lifetime of charity counts against sending him to prison. The former Goldman Sachs Group Inc board member was convicted in June of leaking boardroom secrets to hedge fund manager Raj Rajaratnam, his friend and former business associate, at the height of the financial crisis. Gupta, 63, is to be sentenced by Manhattan U.S. District Judge Jed Rakoff, who oversaw the four-week trial. ...

October factory activity edges up, growth still weak: Markit Posted: 24 Oct 2012 06:22 AM PDT NEW YORK (Reuters) - Manufacturing improved slightly in October but slow growth and economic uncertainty suggested the sector's recent struggles may persist over the final months of 2012, an industry survey showed on Wednesday. Financial information firm Markit said its U.S. "flash," or preliminary, Purchasing Managers Index for the manufacturing sector edged up to 51.3 this month from 51.1 in September. A reading above 50 indicates expansion. ...

Adidas claims victory in "knitted" shoe row with Nike Posted: 24 Oct 2012 08:46 AM PDT FRANKFURT (Reuters) - Adidas may be able to sell its Adizero Primeknit running shoe in Germany from next month after a court ruled a temporary injunction brought by rival Nike cannot be sustained. Nike filed for the injunction last month, halting the sale and production of the Adidas product, arguing the shoe was a copy of its Flyknit sneaker, launched in February. The court in Nuremberg, Germany, on Wednesday said that after hearing the Adidas case, it intended to set the injunction aside on Nov, 7. ...

SocGen rogue trader Kerviel loses appeal against jail Posted: 24 Oct 2012 07:02 AM PDT PARIS (Reuters) - Former Societe Generale trader Jerome Kerviel lost his appeal on Wednesday against a three-year prison sentence for his role in France's biggest rogue-trading scandal. A Paris appeals court ruled that the 35-year-old ex-trader, who had fought to overturn a 2010 conviction for taking huge, risky bets that cost SocGen 4.9 billion euros ($6.35 billion), was responsible It said he must also repay the bank the billions lost, potentially a life-time claim on part of his earnings. ...

Stocks stabilize on Wall Street after a sell-off Posted: 24 Oct 2012 08:57 AM PDT The stock market is stabilizing after one of its biggest sell-offs of the year.

ECB's Draghi faces German lawmakers Posted: 24 Oct 2012 08:54 AM PDT The European Central Bank's president drew a broadly positive response from German lawmakers Wednesday when he told them that his bond-buying plan won't stoke inflation and will not allow struggling countries to backslide on economic reforms.

Boeing raises 2012 guidance as deliveries pick up Posted: 24 Oct 2012 05:40 AM PDT Boeing said its net income this year will be bigger than it had expected as deliveries of commercial airplanes picks up.

US Airways posts record 3Q profit Posted: 24 Oct 2012 07:23 AM PDT US Airways made its best profit ever for the three-month stretch that covers much of the peak summer vacation season.

Best Buy offers exclusive Windows 8 deals, demos Posted: 24 Oct 2012 07:15 AM PDT Confused by Windows 8? Best Buy hopes it can help.

Prison, $7 billion fine for French rogue trader Posted: 24 Oct 2012 06:47 AM PDT The Paris appeals court on Wednesday ordered former Societe Generale trader Jerome Kerviel to spend three years in prison and pay back a staggering €4.9 billion (about $7 billion) in damages for one of the biggest trading frauds in history.

AT&T sees fewer new customers in 3Q Posted: 24 Oct 2012 08:14 AM PDT The flow of customers into AT&T's wireless stores slowed further in the latest quarter, putting the company far behind rival Verizon Wireless.

EU sends Microsoft formal antitrust complaint Posted: 24 Oct 2012 04:16 AM PDT The European Union's executive arm formally accused Microsoft on Wednesday of failing to comply with a binding agreement to give customers a choice among Internet browsers.

Eurozone debt hits 90 percent of its economy Posted: 24 Oct 2012 06:31 AM PDT In spite of years of harsh spending cuts and tax increases, Europe's debt problems are getting worse.

BBC scandal raises questions for incoming NYT boss Posted: 24 Oct 2012 07:13 AM PDT The child abuse scandal that has enveloped one of Britain's most respected news organizations is now hitting one of America's, as the incoming president of The New York Times is on the defensive about his final days as head of the BBC.

Boeing rises in otherwise flat day on Wall Street Posted: 24 Oct 2012 09:14 AM PDT NEW YORK (Reuters) - Stocks were little changed on Wednesday, supported by a slight pickup in manufacturing and a surge in new home sales, while Boeing gained after raising its full-year forecast. The muted morning action suggested the market was attempting to find its footing after a 3.3 percent fall in the S&P 500 over the past four sessions. Weak earnings outlooks and top-line revenue misses from large multinational companies reignited worries about a slowing global economy. ...

Rogers quarterly profit driven by wireless growth Posted: 24 Oct 2012 09:11 AM PDT (Reuters) - Rogers Communications Inc , Canada's largest mobile phone company, said on Wednesday quarterly profit rose after stripping out special items, as a wave of new smartphone subscribers boosted wireless revenue. Shares of Rogers jumped more than 5 percent in early trading after the Toronto-based company said the percentage of its highest-spending wireless subscribers using smartphones surged. Apple Inc's iPhone 5 went on sale late in the quarter. Smartphones are an important driver of revenue because such customers pay Rogers nearly twice as much each month as other users. ...

Ex-trader Kerviel says to launch fresh appeal Posted: 24 Oct 2012 09:10 AM PDT PARIS (Reuters) - Former Societe Generale trader Jerome Kerviel said on Wednesday he would call on France's highest appeals court to review his three-year jail sentence for his role in France's biggest rogue trading scandal. "Without hesitation, I will call for a review of the ruling," Kerviel told RTL radio, after a Paris appeals court threw out a first request to overturn his 2010 conviction that also demanded he repay 4.9 billion euros ($6.35 billion) in losses to SocGen. (Reporting by Lionel Laurent; Editing by Christian Plumb)

Canada is attractive destination for foreign investment Posted: 24 Oct 2012 09:03 AM PDT OTTAWA (Reuters) - Bank of Canada Governor Mark Carney on Wednesday declined to say whether the government should approve takeovers by foreign state-owned enterprises, but said investors liked Canada. Ottawa last week blocked a bid by Malaysian firm Petronas for Progress Energy and is now deciding whether to allow China's CNOOC Ltd to acquire Nexen Inc. Asked about takeovers by foreign state-owned firms, Carney told a news conference: "Canada is an attractive investment destination. And our challenge is how we use that capital which comes into Canada and how we channel it most productively. ...

NY Times public editor asks if incoming CEO fit to serve Posted: 24 Oct 2012 09:00 AM PDT NEW YORK (Reuters) - The New York Times public editor has questioned whether incoming chief executive Mark Thompson, the former head of the BBC, is fit to serve as the company's top official as a scandal shakes Britain's most prestigious broadcaster. One Wall Street analyst called for the New York Times Co, which publishes its namesake newspaper and the Boston Globe, to delay Thompson taking over the company. That added more pressure on executives to address the matter on the company's earnings conference call on Thursday. ...

Stocks stabilize on Wall Street after a sell-off Posted: 24 Oct 2012 08:57 AM PDT The stock market is stabilizing after one of its biggest sell-offs of the year.

Facebook wins back friends on Wall Street, shares soar Posted: 24 Oct 2012 08:57 AM PDT (Reuters) - Facebook Inc's shares headed towards their biggest one-day jump on Wednesday after the company reported a surprising rise in mobile advertising, easing concerns it was having trouble capitalizing on soaring use of smartphones and tablets. Facebook shares, sold for $38 each in their initial public offering in May, were up 20 percent at $23.61 in late morning trade. The stock was the top percentage gainer on the Nasdaq. Several brokerages raised their price targets on Facebook shares. ...

Analysis: Citi board fight signals rise of the activist chairman Posted: 24 Oct 2012 08:55 AM PDT NEW YORK (Reuters) - In the summer of 2011, Yahoo Inc's board decided enough was enough. Directors had seen the Internet giant's stock languish, and the answers they got from Carol Bartz, chief executive at the time, fell short of their expectations. So, the board held a final meeting in Los Angeles, away from Yahoo's Silicon Valley headquarters, to review the company's progress, a source familiar with the matter said. One of their conclusions? Fire Bartz, the source said. ...

ECB's Draghi faces German lawmakers Posted: 24 Oct 2012 08:54 AM PDT The European Central Bank's president drew a broadly positive response from German lawmakers Wednesday when he told them that his bond-buying plan won't stoke inflation and will not allow struggling countries to backslide on economic reforms.

Kimberly-Clark to exit low-profit European businesses Posted: 24 Oct 2012 08:51 AM PDT (Reuters) - Kimberly-Clark Corp plans to stop selling its Huggies diapers in much of Western and Central Europe as part of a plan to leave low-profit businesses in that region. The maker of Kleenex tissues also reported lower quarterly sales due to the stronger U.S. dollar, but earnings rose, and it raised its profit forecast for the year. Kimberly-Clark said on Wednesday it would remain in the diaper business in Italy. It also plans to sell or exit some lower-margin businesses, mostly in its consumer tissue unit. ...

Adidas claims victory in "knitted" shoe row with Nike Posted: 24 Oct 2012 08:46 AM PDT FRANKFURT (Reuters) - Adidas may be able to sell its Adizero Primeknit running shoe in Germany from next month after a court ruled a temporary injunction brought by rival Nike cannot be sustained. Nike filed for the injunction last month, halting the sale and production of the Adidas product, arguing the shoe was a copy of its Flyknit sneaker, launched in February. The court in Nuremberg, Germany, on Wednesday said that after hearing the Adidas case, it intended to set the injunction aside on Nov, 7. ...

Recall news Posted: 24 Oct 2012 08:45 AM PDT The following recall has been announced:

Manulife to buy creditor insurance provider Benesure Canada Posted: 24 Oct 2012 08:44 AM PDT TORONTO (Reuters) - Manulife Financial Corp said on Wednesday it will acquire Benesure Canada Inc, a private firm that administers and distributes life and disability creditor insurance to the mortgage broker marketplace. The deal, which makes Manulife Canada's largest provider of creditor insurance for mortgage brokers, is the latest in a mini flurry of deals struck by Canadian financial institutions. On Tuesday, Royal Bank of Canada said it will buy the Canadian auto finance and deposit arm of Ally Financial Inc in a $4. ...

Tougher times ahead for Netflix as competition heats up: analysts Posted: 24 Oct 2012 08:42 AM PDT (Reuters) - Netflix Inc will struggle to attract more customers in the United States as competition is expected to intensify in the next few months, analysts said. Netflix said on Tuesday it added fewer-than-expected U.S. customers in the third quarter, forcing the company to cut its full-year subscriber forecast. Shares of the online video streaming company tumbled 16 percent to $57.40 on Wednesday, making the stock one of the top percentage losers on the Nasdaq. More than 8 million shares had changed hands by 1130 ET. ...

Corning may make job cuts as part of cost cuts Posted: 24 Oct 2012 08:36 AM PDT Corning said Wednesday that it will likely cut costs, which may include "modest" job cuts, to support profit in a weakening economy.

Bank of Canada halves third-quarter growth view, rate hike further off Posted: 24 Oct 2012 08:32 AM PDT OTTAWA (Reuters) - The Bank of Canada halved its forecast for third-quarter economic growth in Canada to 1.0 percent, annualized, on Wednesday and said the degree of slack in the economy has widened, suggesting rate hikes could come later than thought. In its quarterly Monetary Policy Report, the bank also said indebted households in Canada - a top concern of policymakers - may be more vulnerable than it had thought. The revised third-quarter growth estimate was based partly on temporary disruptions in the oil sector, and the bank painted a brighter picture of the following two quarters. ...

Air Canada, United settle with Canada on routes Posted: 24 Oct 2012 08:31 AM PDT TORONTO (Reuters) - Canada's Competition Bureau said on Wednesday it had reached an agreement with Air Canada and United Continental Holdings that prohibits them from coordinating on 14 transborder routes but clears the way for a joint venture that excludes those routes. The government agency, which said its deal will protect consumers, had filed an application in June to block a proposed transborder joint venture between the airlines, saying that the partnership would monopolize key routes between Canada and the United States. ...

CP Rail profit jumps 20 percent in new CEO's first-quarter Posted: 24 Oct 2012 08:31 AM PDT TORONTO (Reuters) - Canadian Pacific Railway Ltd said on Wednesday its quarterly profit jumped 20 percent as efficiency improved and freight revenue rose in its first full quarter under a new chief executive who has vowed to shake up Canada's second-largest rail operator. Shares of the Calgary-based company jumped 5 percent after it released the stronger-than-expected results, which provided early evidence that Chief Executive Hunter Harrison's initiatives were bearing fruit. ...

Oil drops on big increase in US supplies Posted: 24 Oct 2012 08:29 AM PDT The price of oil fell after the U.S. reported an unexpectedly large increase in crude supplies.

Vivendi's Maroc Tel attracts four suitors: sources Posted: 24 Oct 2012 08:21 AM PDT PARIS (Reuters) - Vivendi has received signals of interest for its 53 percent stake in Maroc Telecom from regional rivals Qatar Telecom, Etisalat and Saudi Telecom, and South Africa's MTN, two people familiar with the matter said. The French media-to-telecoms conglomerate is hoping to garner at least 5.5 billion euros from selling the unit, which is its second-biggest earnings generator, the people said on Wednesday. There is no official deadline set for offers, but Vivendi hopes to sign a deal before the end of the first quarter of next year, one of the people said. ...

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