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• Wall Street slightly higher on China data; S&P near resistance level
• Jobless claims rise, but jobs market recovery intact
• Lawmakers: Wal-Mart CEO knew of Mexico bribe claim
• Exclusive: PE firms targeted Legg Mason but were spurned - sources
• Ex UBS boss blames "mercenaries" for Libor debacle
• Consumer watchdog tightens mortgage rules on banks
• Morgan Stanley to cut jobs, may signal more pain ahead
• Ford doubles dividend to seven-year high
• GM to open third U.S. tech center, hire 1,000 people
• Apple's Tim Cook meets with China Mobile chairman in Beijing
• Lawmakers release documents on Wal-Mart bribery
• Stocks are little changed on Wall Street
• US unemployment aid applications tick up to 371K
• Gadget Watch: Samsung shows bendable phone screen
• US wholesale stockpiles up 0.6 percent in November
• US job openings barely grew in November
• New federal rules aim to curb risky mortgages
• FDA requires lower doses for sleep medications
• Supervalu to sell 5 supermarket chains to Cerberus
• Federal Reserve pays government $88.9 billion

Wall Street slightly higher on China data; S&P near resistance level Posted: 10 Jan 2013 08:34 AM PST NEW YORK (Reuters) - U.S. stocks inched higher on Thursday, helped by stronger-than-expected exports in China, the world's second-biggest economy, but gains were capped as the S&P 500 hovered near a 5-year high. Financial and telecommunications stocks were the day's top gainers, while the material sector was the biggest drag. The S&P 500 material sector index was off 0.3 percent. The financial sector index rose 0.6 percent and the telecom sector was up 0.5 percent. The benchmark Standard & Poor's 500 index was near a five-year closing high of 1,466.47. ...

Jobless claims rise, but jobs market recovery intact Posted: 10 Jan 2013 09:18 AM PST WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose last week, the Labor Department said on Thursday, but details of the report suggested the jobs market continued to grow at a moderate pace. Other data suggested the economy remained on a steady growth path, with sales at wholesalers rising by the most in more than 1-1/2 years in November, keeping inventories balanced. Initial claims for state jobless aid increased 4,000 to a seasonally adjusted 371,000. The prior week's figure was revised to show 5,000 fewer applications than previously reported. ...

Lawmakers: Wal-Mart CEO knew of Mexico bribe claim Posted: 10 Jan 2013 08:59 AM PST WASHINGTON/CHICAGO (Reuters) - Lawmakers on Thursday released emails that appeared to show Wal-Mart Chief Executive Mike Duke knew as far back as 2005 of allegations that company representatives had bribed Mexican officials. The emails appeared to contradict the company's public statements about a bribery scandal tied to its Mexican affiliate, Wal Mart de Mexico. Lawmakers said Wal-Mart Stores Inc did not dispute the authenticity of the emails. ...

Exclusive: PE firms targeted Legg Mason but were spurned - sources Posted: 10 Jan 2013 09:05 AM PST NEW YORK (Reuters) - Legg Mason Inc has been approached in recent months by some of its senior managers and private equity firms with plans to take the struggling asset manager private, but the board has decided against exploring that option at least until the company has a new chief executive, three sources said. At least two large private equity investors have shown interest in financing a buyout led by the leaders of the money manager's largest affiliates, but the board has refused to engage in such discussions, the sources familiar with the situation said. ...

Ex UBS boss blames "mercenaries" for Libor debacle Posted: 10 Jan 2013 06:55 AM PST LONDON/ZURICH (Reuters) - The former chief executive of UBS blamed "mercenaries" for its role in the global interest-rate rigging scandal that has further undermined the Swiss bank's once venerable reputation. UBS was fined a record $1.5 billion last month for manipulating Libor interest rates, the latest in a string of debacles - including a $2.3 billion rogue-trading loss and a tax avoidance row with the United States - that have rocked Switzerland's largest lender. ...

Consumer watchdog tightens mortgage rules on banks Posted: 10 Jan 2013 09:12 AM PST WASHINGTON (Reuters) - The government's consumer finance watchdog said on Thursday it will force banks to use new criteria to determine whether a borrower can repay a home loan, in an effort to avert the kind of loose lending that helped push the economy into recession. Banks will have to verify a potential borrower's income, the amount of debt they have, and their employment. ...

Morgan Stanley to cut jobs, may signal more pain ahead Posted: 09 Jan 2013 10:39 PM PST (Reuters) - Morgan Stanley plans to slash 1,600 jobs in what may be just the beginning of a new round of layoffs at large investment banks, this time driven by a deeper reassessment of Wall Street businesses in the face of new regulations and capital standards. Morgan Stanley, the sixth-largest U.S. bank by assets, plans to begin letting go of the employees, many of whom work in its securities unit, starting this week, two people familiar with the matter said on Wednesday. ...

Ford doubles dividend to seven-year high Posted: 10 Jan 2013 07:19 AM PST (Reuters) - Ford Motor Co doubled its quarterly dividend to 10 cents per share, its highest in seven years, on the back of strong sales in North America and a healthy balance sheet. The first-quarter payout, which will cost No. 2 U.S. automaker about $370 million, comes despite recent market share losses and weakness in its European business. "Ford's plan is to grow its dividend, consistent with earnings and liquidity growth, to a level that is sustainable through all business cycles," the company said in a statement. Ford last paid a 10-cent dividend in June 2006. ...

GM to open third U.S. tech center, hire 1,000 people Posted: 10 Jan 2013 07:33 AM PST DETROIT (Reuters) - General Motors Co will open a third U.S. information technology center as part of its plan to bring that work in-house and improve the automaker's efficiency and productivity. GM said on Thursday it will hire about 1,000 people, including software developers, database experts and business analysts, to staff the center near Atlanta. It will be the third of four centers in the United States GM previously said it would open. ...

Apple's Tim Cook meets with China Mobile chairman in Beijing Posted: 10 Jan 2013 01:24 AM PST SHANGHAI (Reuters) - Apple Inc's Chief Executive Tim Cook met with China Mobile's Chairman Xi Guohua on Thursday to discuss "matters of cooperation," a China Mobile spokesman said, raising hopes that a deal between the two tech giants may move forward. "In the morning, Apple's CEO Tim Cook visited China Mobile's headquarters. China Mobile's Chairman Xi Guohua and Tim Cook discussed matters of cooperation," said Li Jun, a China Mobile spokesman, in an emailed statement. No further details will be given due to a confidentiality agreement signed, the statement said. ...

Lawmakers release documents on Wal-Mart bribery Posted: 10 Jan 2013 08:46 AM PST NEW YORK (AP) — Lawmakers are making public some documents that they say show that Wal-Mart CEO found out that the retailer's Mexican unit was giving bribes as early as 2005.

Stocks are little changed on Wall Street Posted: 10 Jan 2013 08:37 AM PST NEW YORK (AP) — The stock market gave up an early gain Thursday as economic reports gave investors a mixed picture on the outlook for growth.

US unemployment aid applications tick up to 371K Posted: 10 Jan 2013 07:59 AM PST WASHINGTON (AP) — Weekly applications for U.S. unemployment benefits ticked up slightly last week, the latest sign of slow but consistent gains in the job market.

Gadget Watch: Samsung shows bendable phone screen Posted: 10 Jan 2013 05:09 AM PST LAS VEGAS (AP) — By showing off a phone with a flexible screen, Samsung is hinting at a day when we might fold up our large phone or tablet screens as if they were maps.

US wholesale stockpiles up 0.6 percent in November Posted: 10 Jan 2013 07:47 AM PST WASHINGTON (AP) — U.S. wholesalers boosted their stockpiles in November and their sales rose at the fastest pace since the spring of 2011, encouraging signs for the economy.

US job openings barely grew in November Posted: 10 Jan 2013 08:21 AM PST WASHINGTON (AP) — U.S. employers advertised about the same number of jobs in November as in October, suggesting hiring will stay modest over the next few months.

New federal rules aim to curb risky mortgages Posted: 10 Jan 2013 04:13 AM PST WASHINGTON (AP) — Federal regulators for the first time are laying out rules aimed at ensuring that mortgage borrowers can afford to repay the loans they take out.

FDA requires lower doses for sleep medications Posted: 10 Jan 2013 08:07 AM PST WASHINGTON (AP) — The Food and Drug Administration is requiring makers of Ambien and similar sleeping pills to lower the dosage of their drugs, based on studies suggesting patients face a higher risk of injury due to morning drowsiness.

Supervalu to sell 5 supermarket chains to Cerberus Posted: 10 Jan 2013 09:03 AM PST NEW YORK (AP) — Supervalu Inc. is selling off five of its grocery chains, including Albertson's and Jewel-Osco, after years of being squeezed by intensifying competition.

Federal Reserve pays government $88.9 billion Posted: 10 Jan 2013 09:13 AM PST WASHINGTON (AP) — The Federal Reserve paid the federal government a record $88.9 billion in 2012. The central bank earned the money from the Treasury bonds and mortgage-backed securities it has purchased to drive interest rates lower and boost the economy.

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