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• Wall Street climbs in short session, led by tech stocks
• Global shares, euro fly on Greek deal hopes, German data
• BP reorganizes oil production unit
• EU budget summit ends without deal, retry in 2013
• Early start to "Black Friday" shopping frenzy
• Autonomy founder says HP allegations don't add up
• VW to invest over $60 billion in drive to be top automaker
• Wal-Mart India unit suspends CFO, others pending bribery probe
• Canada, EU aim to conclude free trade deal in coming weeks
• China Eastern seals $5.4 billion deal to buy 60 A320s
• Earlier Black Friday kicks off shopping season
• AP PHOTOS: Ready, set, shop! Black Friday begins
• US stocks rise sharply in Black Friday retail rush
• Wal-Mart suspends India staff in corruption probe
• Powerball jackpot builds to $325M for Saturday
• Ranbaxy recalls generic Lipitor doses
• EU summit ends without budget deal
• Business confidence rises unexpectedly in Germany
• Calif.-Vegas party train could hit tracks in 2013
• Oil prices ease as Gaza truce holds

Wall Street climbs in short session, led by tech stocks Posted: 23 Nov 2012 08:43 AM PST NEW YORK (Reuters) - U.S. stocks rose for a fifth day during a holiday-shortened, thin trading session on Friday, as investors bid up large technology stocks which had fallen to more attractive levels recently. Market participants were also encouraged by signs of progress in talks about releasing aid to debt-saddled Greece, and piled into U.S. retail shares as the holiday shopping season got underway. U.S. equity market trading will end early at 1:00 pm ET (1800 GMT) after closing Thursday for the Thanksgiving holiday. Trading volume was limited, with many investors still on leave. ...

Global shares, euro fly on Greek deal hopes, German data Posted: 23 Nov 2012 08:23 AM PST NEW YORK (Reuters) - Global stocks and the euro climbed on Friday on signs of progress in talks about releasing aid to Greece and an influential German survey that found business sentiment had improved in Europe's largest economy. The three major U.S. stock indexes rose about 1 percent, buoyed by bellwether technology stocks such as Intel and Microsoft - each up more than 2 percent. An index of semiconductor stocks gained 2.1 percent, while the S&P information technology sector index rose 1.3UK percent. ...

BP reorganizes oil production unit Posted: 23 Nov 2012 06:38 AM PST LONDON (Reuters) - BP unveiled a reorganization of its oil and gas production operations on Friday, reversing a change it enacted after the Gulf of Mexico oil spill. The latest move is partly intended to free Chief Executive Bob Dudley up from close oversight of day-to-day operations so he can help chart BP's recovery from the disaster which killed 11 men and spilled 5 million barrels of crude into the sea, three sources close to the company said. ...

EU budget summit ends without deal, retry in 2013 Posted: 23 Nov 2012 08:53 AM PST BRUSSELS (Reuters) - European Union leaders failed to reach agreement on Friday on a new seven-year budget for their troubled bloc, calling off talks in less than two days after most countries balked at far deeper spending cuts demanded by Britain and its allies. European Council President Herman Van Rompuy said they decided to end a special summit on the 2014-2020 EU budget, worth about 1 trillion euros, and would try again early next year rather than continue negotiating into the weekend. ...

Early start to "Black Friday" shopping frenzy Posted: 23 Nov 2012 06:04 AM PST NEW YORK/CHICAGO (Reuters) - The shopping frenzy known as "Black Friday" kicked off at a more civilized hour, with shoppers welcoming decisions by retailers such as Target Corp and Toys R Us Inc to move their openings to Thursday night. They also seemed to show little concern that the U.S. economy could be pushed over a "fiscal cliff," if a combination of tax hikes and spending cuts take effect in January. Some economists fear that could lead to another recession. Yet the National Retail Federation expects sales during the holiday season to grow 4.1 percent this year. The stakes are high for ...

Autonomy founder says HP allegations don't add up Posted: 23 Nov 2012 04:19 AM PST LONDON (Reuters) - Mike Lynch, mathematics whiz and former boss of Autonomy, said he can't see how accusations leveled by Hewlett-Packard Co of dodgy accounting add up to a $5 billion writedown on the software business he sold them last year. HP said on Tuesday it would write $8.8 billion off its $11.1 billion purchase of the British company, $5 billion of it due to "serious accounting improprieties" and "a wilful effort by Autonomy to mislead shareholders" revealed by a whistleblower and a forensic audit by accountants PricewaterhouseCoopers. ...

VW to invest over $60 billion in drive to be top automaker Posted: 23 Nov 2012 08:17 AM PST FRANKFURT (Reuters) - Volkswagen AG has earmarked 50.2 billion euros ($64.7 billion) of investments over the coming three years as it accelerates plans designed to help it become the world's largest car maker by the end of the decade. As the company strives to replace Toyota Motor Corp as the No.1 auto maker globally, it is expanding its presence outside Europe, building or planning new factories in markets such as China, Mexico and Russia. ...

Wal-Mart India unit suspends CFO, others pending bribery probe Posted: 23 Nov 2012 07:45 AM PST MUMBAI (Reuters) - The Indian joint venture of Wal-Mart Stores Inc has suspended its chief financial officer and other employees as it investigates alleged violations of U.S. anti-bribery laws, a development that could hamper India's efforts to open its domestic supermarket sector to foreign investment. Wal-Mart, the world's largest retailer, said last week it has opened internal inquiries or investigations into bribery allegations in Brazil, China and India, which follows an earlier probe in Mexico. ...

Canada, EU aim to conclude free trade deal in coming weeks Posted: 23 Nov 2012 03:48 AM PST BRUSSELS (Reuters) - The European Union and Canada aim to conclude a free trade agreement in the next few weeks after a top-level meeting over a deal that could swell bilateral trade by more than 20 percent. "Both sides will now instruct their negotiators to narrow the gaps on the outstanding issues," the Commission said in a statement on Friday, after Thursday's meeting between EU Trade Commissioner Karel De Gucht and Canadian Trade Minister Ed Fast. ...

China Eastern seals $5.4 billion deal to buy 60 A320s Posted: 23 Nov 2012 03:29 AM PST HONG KONG (Reuters) - China Eastern Airlines , one of the country's top three carriers, has agreed to buy 60 Airbus A320 aircraft for about $5.4 billion, expected to be delivered in stages from 2014 to 2017. This is the first major deal involving Europe's Airbus and a Chinese airliner after the European Union agreed on November 12 to "stop the clock" for a year on plans to force non-EU airlines to adopt its Emissions Trading Scheme (ETS). The new aircraft will help the airline satisfy rising demand for domestic medium- and short-haul passenger routes, China Eastern said on Friday. ...

Earlier Black Friday kicks off shopping season Posted: 23 Nov 2012 08:21 AM PST This year's Black Friday shoppers were split into two distinct groups: those who wanted to fall into a turkey-induced slumber and those who'd rather shop.

AP PHOTOS: Ready, set, shop! Black Friday begins Posted: 23 Nov 2012 03:46 AM PST Hordes of shoppers are descending on stores to snap up the best deals of the year.

US stocks rise sharply in Black Friday retail rush Posted: 23 Nov 2012 07:43 AM PST U.S. stocks rose solidly on Black Friday, the unofficial start of the holiday shopping season. Traders were encouraged by positive economic news from Germany and China, two engines of global growth.

Wal-Mart suspends India staff in corruption probe Posted: 23 Nov 2012 04:48 AM PST Wal-Mart's Indian joint venture said Friday it has suspended several employees as part of an internal corruption investigation, another blow to the U.S. company's plans for aggressive expansion in a giant market that is largely untapped by foreign retailers.

Powerball jackpot builds to $325M for Saturday Posted: 23 Nov 2012 08:21 AM PST The jackpot for Powerball's Saturday drawing has climbed to $325 million, the fourth-largest in the game's history.

Ranbaxy recalls generic Lipitor doses Posted: 23 Nov 2012 08:07 AM PST Ranbaxy Pharmaceuticals Inc. has recalled dozens of lots of its generic version of cholesterol drug Lipitor because some may contain tiny glass particles, the latest in a string of manufacturing deficiencies that once led U.S. regulators to bar imports of the Indian company's medicines.

EU summit ends without budget deal Posted: 23 Nov 2012 08:36 AM PST A European Union summit charged with agreeing on a long-term budget for the 27-nation bloc has broken up without a deal.

Business confidence rises unexpectedly in Germany Posted: 23 Nov 2012 02:36 AM PST German business confidence rose unexpectedly in November after six straight declines, a closely-watched survey showed Friday, raising hopes that Europe's largest economy can continue to weather the financial crisis.

Calif.-Vegas party train could hit tracks in 2013 Posted: 23 Nov 2012 07:15 AM PST As if a weekend in Las Vegas isn't wild enough for Southern Californians, a Nevada entrepreneur is about to add five more hours of party to either end.

Oil prices ease as Gaza truce holds Posted: 23 Nov 2012 07:37 AM PST Oil prices are climbing after Israeli troops fired on crowds in Gaza surging toward the border fence, killing one Palestinian and wounding 19.

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