Yahoo! News: Health News

---

• Wall Street falls on caution after rally, retail drags
• SEC Chairman Mary Schapiro to step down
• Ex-SAC manager granted $5 million bail in insider-trading case
• Canada's Carney named as surprise Bank of England chief
• Euro zone to seek Greek aid deal without write-off
• ConocoPhillips to sell Kazakh stake for $5 bln to ONGC
• Apollo to buy McGraw-Hill education unit for $2.5 billion
• Retail stocks muted after strong holiday sales start
• Shareholders approve UBM's UK tax base return
• Warren Buffett calls for a minimum tax on the wealthy
• SEC official Elisse Walter chosen to lead agency
• Schapiro stepping down from SEC; successor tapped
• Fiscal cliff warning sends stock market lower
• Facebook stock climbs after upgrade
• All items in '12 Days of Christmas' now top $107K
• White House: Tax hike threat could hurt retailers
• Factory fire the deadliest of many in Bangladesh
• NY court date Mon. in massive insider trading case
• Euro officials seek way to unlock Greek crisis

Wall Street falls on caution after rally, retail drags Posted: 26 Nov 2012 09:14 AM PST NEW YORK (Reuters) - U.S. stocks eased on Monday as a mixed start to the holiday shopping season, caution over Greek aid talks and budget discussions in Washington gave investors reason to pause after Wall Street posted its best week in over five months. While holiday shopping appeared to be off to a good start, analysts cautioned against reading too much into one weekend's numbers. Retailers need to sustain the initial burst through the November-December holiday season, which can account for a third of annual sales and 40 to 50 percent of profits for the year. ...

SEC Chairman Mary Schapiro to step down Posted: 26 Nov 2012 08:47 AM PST WASHINGTON (Reuters) - The head of the U.S. Securities and Exchange Commission, Mary Schapiro, announced on Monday that she would step down from the agency on December 14. SEC Commissioner Elisse Walter will be designated to succeed Schapiro upon her departure, the White House said in a statement. "The SEC is stronger, and our financial system is safer and better able to serve the American people - thanks in large part to Mary's hard work," President Barack Obama said. Speculation had swirled for months that Schapiro would leave soon after the November presidential election. ...

Ex-SAC manager granted $5 million bail in insider-trading case Posted: 26 Nov 2012 09:18 AM PST NEW YORK (Reuters) - A former SAC Capital portfolio manager was released on $5 million bail on Monday after making his first appearance in a New York court on charges of making illegal trades that hedge fund titan Steven A. Cohen personally signed off on. Mathew Martoma, 38, of Boca Raton, Florida, was charged last week in what U.S. prosecutors called "the most lucrative" insider-trading scheme ever. Martoma was accused of helping Cohen's firm avoid losses and reap profits totaling $276 million in the summer of 2008 by using insider tips he obtained from a doctor about Elan Corp and Wyeth LLC. ...

Canada's Carney named as surprise Bank of England chief Posted: 26 Nov 2012 09:28 AM PST LONDON (Reuters) - Britain named Canadian central bank chief Mark Carney on Monday as the next governor of the Bank of England, springing the surprise choice of a foreigner to help steer the world's sixth-largest economy out of stagnation. A former Goldman Sachs investment banker who as central bank head guided the Canadian economy through the global economic crisis, Carney will succeed Mervyn King who retires next July. ...

Euro zone to seek Greek aid deal without write-off Posted: 26 Nov 2012 09:32 AM PST BRUSSELS (Reuters) - Euro zone finance ministers and the International Monetary Fund made their third attempt in as many weeks to agree on releasing emergency aid for Greece on Monday, with policymakers saying a write-down of Greek debt is off the table for now. Greek Finance Minister Yannis Stournaras said he was confident the ministers would reach a deal after Greece fulfilled its part of the deal by enacting tough austerity measures and economic reforms. "I'm certain we will find a mutually beneficial solution today," he said on arrival for what was set to be another marathon meeting. ...

ConocoPhillips to sell Kazakh stake for $5 bln to ONGC Posted: 26 Nov 2012 09:10 AM PST (Reuters) - ConocoPhillips is to sell its 8.4 percent stake in Kazakh oil field Kashagan for about $5 billion to Oil and Natural Gas Corp , a state-run Indian group looking to boost production. Kashagan, the world's biggest oilfield discovery since 1968, holds an estimated 30 billion barrels of oil-in-place, of which 8-12 billion are potentially recoverable, with first production expected next year. With ONGC's domestic output flat for years, India now buys nearly 80 percent of its oil needs and is the world's fourth-biggest oil importer. ...

Apollo to buy McGraw-Hill education unit for $2.5 billion Posted: 26 Nov 2012 07:36 AM PST (Reuters) - McGraw-Hill Companies Inc said it will sell its educational publishing unit to Apollo Global Management LLC for $2.5 billion. McGraw-Hill expects to record a non-cash impairment charge of about $450 to $550 million in the fourth quarter. McGraw-Hill said it will realize $1.9 billion of proceeds from the deal, after taxes and certain adjustments, and will use the money to buy back its shares, make "selective tuck-in acquisitions" for its portfolio of financial services businesses and repay short-term borrowings. ...

Retail stocks muted after strong holiday sales start Posted: 26 Nov 2012 08:20 AM PST NEW YORK (Reuters) - Retail stocks were off to a weak start on Monday as questions about the strength of consumer spending and fears about the "fiscal cliff" overshadowed an apparently strong Black Friday kickoff to the holiday shopping season. Shares of Wal-Mart Stores Inc and Macy's Inc , which analysts said did well over the weekend, were down because investors see those stocks as proxies for the overall economy, given the wide breadth of the retailers' customer bases, said Morningstar analyst Paul Swinand. The Standard & Poor's 500 Retail index was down 0.8 percent in morning trading. ...

Shareholders approve UBM's UK tax base return Posted: 26 Nov 2012 09:13 AM PST (Reuters) - Media and marketing services company UBM Plc said its shareholders had approved a proposal to return the firm's tax base to the United Kingdom after four years in Ireland. UBM, which organizes exhibitions, trade shows and conferences, said its board of directors believed the current legislative framework in Britain represents a significant improvement for multinational groups. The company said it expects to become a UK tax resident from November 30. ...

Warren Buffett calls for a minimum tax on the wealthy Posted: 26 Nov 2012 06:34 AM PST (Reuters) - Warren Buffett, the legendary investor who changed the debate about U.S. tax reform in 2011 with a call for the rich to pay more, is now calling for minimum tax rates for millionaires. In a New York Times editorial printed on Monday, Buffett suggested Congress move immediately to implement minimum taxes of 30 percent on incomes of $1 million to $10 million and 35 percent above that. ...

SEC official Elisse Walter chosen to lead agency Posted: 26 Nov 2012 09:29 AM PST President Barack Obama has chosen Elisse Walter, one of five members of the Securities and Exchange Commission, to lead the agency after Chairman Mary Schapiro leaves next month.

Schapiro stepping down from SEC; successor tapped Posted: 26 Nov 2012 08:44 AM PST Mary Schapiro will step down as chairman of the Securities and Exchange Commission next month after a tumultuous tenure in which she helped lead the U.S. government's regulatory response to the 2008 financial crisis.

Fiscal cliff warning sends stock market lower Posted: 26 Nov 2012 08:50 AM PST Traders came back to work on Monday after the Thanksgiving weekend to the same old worries about the fiscal cliff and the European debt crisis.

Facebook stock climbs after upgrade Posted: 26 Nov 2012 08:43 AM PST Facebook's stock is climbing after an upgrade from an analyst who believes Wall Street is underestimating the company's potential to grow revenue.

All items in '12 Days of Christmas' now top $107K Posted: 26 Nov 2012 07:02 AM PST Add seven swans, six geese and five golden rings to the list of Christmas gifts that cost more than they did a year ago.

White House: Tax hike threat could hurt retailers Posted: 26 Nov 2012 05:49 AM PST White House economists warned Monday that the uncertainty of a potential hike in taxes next year for middle class taxpayers under the looming fiscal cliff could hurt consumer confidence during the crucial holiday shopping season.

Factory fire the deadliest of many in Bangladesh Posted: 26 Nov 2012 07:59 AM PST The fire alarm: Waved off by managers. An exit door: Locked. The fire extinguishers: Not working and apparently "meant just to impress" inspectors and customers.

NY court date Mon. in massive insider trading case Posted: 26 Nov 2012 12:06 AM PST A former hedge fund portfolio manager charged in one of the biggest insider trading cases in history was due in a New York federal court after an investigation that touched on the activities of one of the nation's wealthiest financiers.

Euro officials seek way to unlock Greek crisis Posted: 26 Nov 2012 06:26 AM PST Finance ministers from the 17 European Union countries that use the euro are trying to hammer out a deal Monday in Brussels on the next installment of bailout money for struggling Greece.

You are subscribed to email updates from Business News Headlines - Yahoo! News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610