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- Wall Street Week Ahead: Political wrangling to pinch market's nerves
- Deutsche Telekom sees huge synergies from MetroPCS deal: paper
- European banks urge one-year delay for Basel III rules
- Software AG has 1 billion euro war chest for any acquisition: paper
- SFR to make fewer job cuts than expected: report
- Analysis: Charges against BP employees test reach of U.S. statute
- Nokia imaging chief to quit
- Sandy dampens mood for many Black Friday shoppers
- China's Wenzhou unveils reform plans as bad loans climb
- Black Friday creeps into Thanksgiving permanently?
- AP PHOTOS: Black Friday from bargains to brawls
- Why must we buy? Black Friday's powerful pull
- Stocks soar on Black Friday; tech leads the way
- APNewsBreak: Corps cuts flow on Missouri River
- Oil prices climb on new Gaza-Israel fears
Wall Street Week Ahead: Political wrangling to pinch market's nerves Posted: 23 Nov 2012 05:53 PM PST NEW YORK (Reuters) - Volatility is the name of this game. With the S&P 500 above 1,400 following five days of gains, traders will be hard pressed not to cash in on the advance at the first sign of trouble during negotiations over tax hikes and spending cuts that resume next week in Washington. President Barack Obama and U.S. congressional leaders are expected to discuss ways to reduce the budget deficit and avoid the "fiscal cliff" of automatic tax increases and spending cuts in 2013 that could tip the economy into recession. As politicians make their case, markets could react with wild ... |
Deutsche Telekom sees huge synergies from MetroPCS deal: paper Posted: 24 Nov 2012 07:07 AM PST FRANKFURT (Reuters) - Germany's Deutsche Telekom AG expects the merger of its T-Mobile USA with MetroPCS Communications Inc will reap "several billions of euros" in synergies, Telekom chairman Ulrich Lehner told a German weekly magazine. "The position of Deutsche Telekom in the USA will improve markedly as a result," WirtschaftsWoche quoted Lehner as saying in a report to be published on Monday. T-Mobile USA and MetroPCS said last month that they wanted to merge their companies, creating a stronger number four on the U.S. wireless market. ... |
European banks urge one-year delay for Basel III rules Posted: 24 Nov 2012 07:02 AM PST GUBBIO, Italy (Reuters) - European banks have asked the European Commission to postpone the introduction of tougher global bank capital rules by a year to 2014 after U.S. regulators delayed application of the new requirements. The new rules, known as Basel III, are the world's regulatory response to the 2007-09 financial crisis and would force banks to triple the amount of basic capital they hold in a bid to avoid future taxpayer bailouts. ... |
Software AG has 1 billion euro war chest for any acquisition: paper Posted: 24 Nov 2012 05:42 AM PST FRANKFURT (Reuters) - German business software maker Software AG has the financial flexibility to make any acquisition worth up to 1 billion euros ($1.30 billion), a German weekly said on Saturday, citing finance director Arnd Zinnhardt. "We are so well positioned in terms of our operating activities and our balance sheet that we could theoretically pay for a big acquisition of up to 1 billion euros," he said. He does not rule out another acquisition next year, the report said. ... |
SFR to make fewer job cuts than expected: report Posted: 24 Nov 2012 07:05 AM PST PARIS (Reuters) - French mobile operator SFR is planning to announce lower-than-expected job cuts on Wednesday, French daily Le Figaro reported on Saturday, citing an unidentified source close to the matter. The French daily said that instead of the 2,000-job cuts expected by unions in the summer the number would be "less than 1,000." A person close to SFR said the newspaper's estimate was realistic but declined to provide more details about the news to be made public at a workers' council meeting on Wednesday. SFR is seeking to make 500 million euros ($647. ... |
Analysis: Charges against BP employees test reach of U.S. statute Posted: 23 Nov 2012 04:26 PM PST NEW YORK (Reuters) - Not all manslaughter charges are created equal. If they were, the U.S. Justice Department might have filed just 11 charges when it brought a criminal case against two BP Plc employees last week, one for each of the 11 deaths in the Deepwater Horizon disaster. Instead, the government charged Robert Kaluza and Donald Vidrine, the two highest-ranking BP supervisors on board the rig in the hours before the 2010 disaster, with 11 counts of involuntary manslaughter and 11 counts of what's known as seaman's manslaughter. ... |
Posted: 24 Nov 2012 02:04 AM PST HELSINKI (Reuters) - Nokia's long-time imaging chief Damian Dinning has decided to leave the loss-making cellphone maker at the end of this month, the company said in a statement. The strong imaging capabilities of the new Lumia smartphone models are a key sales argument for the former market leader, which has been burning through cash while losing share in both high-end smartphones and cheaper handsets. Nokia's Chief Executive Stephen Elop has replaced most of the top management since he joined in late 2010 and Dinnig is the latest of several executives to leave. ... |
Sandy dampens mood for many Black Friday shoppers Posted: 24 Nov 2012 06:36 AM PST VALLEY STREAM, N.Y./BROOKLYN, New York (Reuters) - Malls across the United States teemed with shoppers looking for Black Friday bargains, but many in the New York area sat out the madness, too busy coping with the lingering effects of Superstorm Sandy. The Green Acres Mall in Valley Stream, New York, just a few miles from New York's JFK airport, is in a part of Long Island that was particularly devastated by the October 29 storm, which destroyed or severely damaged homes in many low-lying areas. ... |
China's Wenzhou unveils reform plans as bad loans climb Posted: 23 Nov 2012 11:17 PM PST BEIJING (Reuters) - China's entrepreneurial hub of Wenzhou has unveiled measures to turn grey-market lending into formal credit to support cash- starved small firms while reducing financial risks, state media reported on Saturday. Under the plans announced by the municipal government, the wealthy coastal city of Wenzhou, aims to channel private money into local businesses through formal institutions - mainly small credit firms, the official Securities Times said, citing officials. ... |
Black Friday creeps into Thanksgiving permanently? Posted: 23 Nov 2012 07:41 PM PST |
AP PHOTOS: Black Friday from bargains to brawls Posted: 23 Nov 2012 06:08 PM PST |
Why must we buy? Black Friday's powerful pull Posted: 23 Nov 2012 02:01 PM PST |
Stocks soar on Black Friday; tech leads the way Posted: 23 Nov 2012 10:38 AM PST The stock market enjoyed some Black Friday cheer, rising sharply as shoppers braved the annual post-Thanksgiving rush. Major stock indexes closed one of their best weeks of the year. |
APNewsBreak: Corps cuts flow on Missouri River Posted: 23 Nov 2012 01:04 PM PST |
Oil prices climb on new Gaza-Israel fears Posted: 23 Nov 2012 11:44 AM PST Oil prices climbed Friday after Israeli troops fired on crowds in Gaza surging toward the border fence, killing one Palestinian. |
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