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• Wall Street flat as Apple gains, Boeing weighs
• Industrial output rises in December but utilities slump
• Consumer price index points to soft inflation, helps give Fed room
• JPMorgan slashes CEO Dimon's bonus on "Whale" trade
• Home builder sentiment holds near seven-year highs
• Goldman boosts returns to shareholders through layoffs
• United Airlines says 787 fleet flying as scheduled
• Goldman, Morgan Stanley cut $557 million foreclosure deal
• Japanese airlines ground 787s after latest emergency
• Facebook search to generate revenue, no rival to Google - analysts
• White House calls NRA video repugnant, cowardly
• Jamie Dimon will get a pay cut after trading loss
• Goldman Sachs' net surges on investment banking
• Stocks edge lower in midday trading; Boeing drops
• Obama taking 23 actions aimed at gun violence
• Obama seeks to enhance gun background checks
• US homebuilder confidence steady near 7-year high
• US factory output rises for 2nd straight month
• US consumer prices unchanged in December
• Oil jumps above $94 on US supply report
• Your Password Isn’t Safe: 90% Are Vulnerable to Hacking, Says Report

Wall Street flat as Apple gains, Boeing weighs Posted: 16 Jan 2013 08:37 AM PST NEW YORK (Reuters) - U.S. stocks were little changed on Wednesday as concerns about global economic growth and a drop in Boeing shares offset strong bank results and gains in technology stocks. Goldman Sachs shares hit their highest level since June 2011 as earnings nearly tripled on increased revenue from dealmaking and lower compensation expenses, while JPMorgan Chase said fourth-quarter net income jumped 53 percent and earnings for 2012 set a record. JPMorgan shares edged up 0.2 percent at $46.43 and Goldman was up 2.5 percent to $139.01. The KBW bank index gained 0.3 percent. ...

Industrial output rises in December but utilities slump Posted: 16 Jan 2013 06:17 AM PST WASHINGTON (Reuters) - Industrial output rose in December and motor vehicle assembly picked up, suggesting the manufacturing sector continues to expand at a moderate pace. Industrial production increased 0.3 percent last month after a 1.0 percent increase in November, the Federal Reserve said on Wednesday. The gain was in line with economists' expectations. Manufacturing production increased 0.8 percent in December after advancing 1.3 percent the prior month. Automobile assembly increased from November's pace. For the fourth quarter, industrial production rose at a 1.0 percent annual pace. ...

Consumer price index points to soft inflation, helps give Fed room Posted: 16 Jan 2013 06:39 AM PST WASHINGTON (Reuters) - Consumer prices were flat in December, pointing to muted inflation pressures that should help give the Federal Reserve room to prop up the economy by staying on its ultra-easy monetary policy path. Other data on Wednesday suggested the economy continued to grow moderately, with industrial production rising for a second straight month in December after output was held down by a storm in October. The Labor Department said its Consumer Price Index was unchanged last month, held back by a drop in gasoline prices. ...

JPMorgan slashes CEO Dimon's bonus on "Whale" trade Posted: 16 Jan 2013 09:04 AM PST NEW YORK (Reuters) - JPMorgan Chase & Co's board of directors cut Chief Executive Jamie Dimon's annual bonus in half, citing the company's $6.2 billion "London Whale" trading loss. Dimon's pay was slashed even though JPMorgan, the largest U.S. bank, said fourth-quarter net income jumped 53 percent, and earnings for 2012 set a record. The fourth-quarter results were helped by increased mortgage lending profits and a decline in the costs for bad loans. The board said the bank's strong results were a key reason to give Dimon a bonus, but the London trading losses cut into his compensation. ...

Home builder sentiment holds near seven-year highs Posted: 16 Jan 2013 07:06 AM PST WASHINGTON (Reuters) - Homebuilder confidence in the market for single family homes held steady at near seven year highs in January, suggesting the outlook for the housing market remained upbeat. The NAHB/Wells Fargo Housing Market index was at 47 this month, the highest level since April 2006. Economists polled by Reuters had expected the index to edge up to 48. The National Association of Home Builders said prolonged negotiations over fiscal policy had caused some uncertainty among builders this month. A reading below 50 means more builders view market conditions as poor than favorable. ...

Goldman boosts returns to shareholders through layoffs Posted: 16 Jan 2013 07:02 AM PST (Reuters) - Goldman Sachs Group Inc paid a smaller portion of its revenue to employees in 2012 as it laid off staff, signaling that management at the top Wall Street bank may be ceding power to the shareholders who supply the capital. The bank set aside just 37.9 percent of its 2012 revenue for compensation, the second-lowest proportion since Goldman went public in 1999. But pay per employee rose because revenue was up and layoffs reduced staffing levels. Lower compensation combined with big revenue gains helped Goldman beat analysts' earnings expectations for the fourth quarter. ...

United Airlines says 787 fleet flying as scheduled Posted: 16 Jan 2013 08:12 AM PST (Reuters) - United Continental Holdings Inc's United Airlines has inspected its fleet of Boeing Co 787 Dreamliners and all are flying as scheduled, the airline said on Wednesday. Two of the largest 787 customers have grounded their Dreamliner fleets following the latest safety incident on Wednesday. (Reporting By Ben Berkowitz; Editing by Gerald E. McCormick)

Goldman, Morgan Stanley cut $557 million foreclosure deal Posted: 16 Jan 2013 08:44 AM PST WASHINGTON (Reuters) - Goldman Sachs Group Inc and Morgan Stanley will pay a total of $557 million in cash and other assistance to troubled borrowers to end a case-by-case review of past foreclosures required by U.S. regulators. The U.S. Federal Reserve said on Wednesday that the two banks will pay $232 million to eligible borrowers and $325 million in loan modifications and forgiveness. The agreement is similar to the $8.5 billion deal reached between the Fed, the Office of the Comptroller of the Currency, and 10 other bank servicers on January 7. ...

Japanese airlines ground 787s after latest emergency Posted: 16 Jan 2013 08:23 AM PST TOKYO (Reuters) - Japan's two leading airlines grounded their fleets of Boeing 787s on Wednesday after one of the Dreamliner passenger jets made an emergency landing, the latest in a series of incidents to heighten safety concerns over a plane many see as the future of commercial aviation. Boeing's shares fell 3.3 percent as analysts began to lose some of their conviction in the stock, which had held up relatively well despite the dozen or so issues with the plane over the last six weeks. ...

Facebook search to generate revenue, no rival to Google - analysts Posted: 16 Jan 2013 07:42 AM PST (Reuters) - Facebook Inc's new search tool has strong potential to generate revenue for the social networking company, though it is unlikely to challenge Google Inc as the world's dominant search engine, Wall Street analysts said on Wednesday. Facebook's "graph search" tool, rolled out on Tuesday, lets its more than 1 billion users trawl their network of friends to find everything from restaurants to movie recommendations and is the company's biggest foray into online search. ...

White House calls NRA video repugnant, cowardly Posted: 16 Jan 2013 08:44 AM PST WASHINGTON (AP) — The White House says a National Rifle Association video referencing President Barack Obama's daughters is "repugnant and cowardly."

Jamie Dimon will get a pay cut after trading loss Posted: 16 Jan 2013 08:19 AM PST NEW YORK (AP) — JPMorgan Chase's Chief Executive Jamie Dimon will get his pay cut by half because of a trading loss that cost the bank more than $6 billion last year and drew sanctions from federal regulators.

Goldman Sachs' net surges on investment banking Posted: 16 Jan 2013 08:22 AM PST NEW YORK (AP) — Goldman Sachs went some way to restoring its reputation as a Wall Street powerhouse after its earnings almost tripled in the fourth quarter, handily beating analysts' estimates, as investment banking revenues surged.

Stocks edge lower in midday trading; Boeing drops Posted: 16 Jan 2013 08:50 AM PST NEW YORK (AP) — More problems for Boeing's 787 are sending the company's stock down sharply, leading the Dow Jones industrial average lower.

Obama taking 23 actions aimed at gun violence Posted: 16 Jan 2013 09:09 AM PST WASHINGTON (AP) — President Barack Obama is taking 23 executive actions aimed at curbing gun violence that don't require congressional action, including measures to encourage schools to hire police officers, increase research on gun violence and improve efforts to prosecute gun crime.

Obama seeks to enhance gun background checks Posted: 16 Jan 2013 09:00 AM PST WASHINGTON (AP) — President Barack Obama is asking Congress to expand background checks on gun buyers to include private sales and is using his executive authority to increase the information available in data banks in the background check system. The White House calls background checks the most efficient and effective way to keep guns away from dangerous individuals.

US homebuilder confidence steady near 7-year high Posted: 16 Jan 2013 09:22 AM PST LOS ANGELES (AP) — Confidence among U.S. homebuilders held steady in January at the highest level in nearly seven years, but builders are feeling slightly less optimistic about their prospects for sales over the next six months.

US factory output rises for 2nd straight month Posted: 16 Jan 2013 07:44 AM PST WASHINGTON (AP) — U.S. factory production rose in December for the second straight month, buoyed by more output of autos, electronics and business equipment.

US consumer prices unchanged in December Posted: 16 Jan 2013 06:37 AM PST WASHINGTON (AP) — Lower gas costs offset more expensive food and higher rents to keep a measure of U.S. consumer prices flat last month.

Oil jumps above $94 on US supply report Posted: 16 Jan 2013 09:23 AM PST The price of oil jumped above $94 a barrel Wednesday after an unexpected drop in U.S. crude supplies.

Your Password Isn’t Safe: 90% Are Vulnerable to Hacking, Says Report Posted: 15 Jan 2013 05:35 PM PST Think you've got a clever, un-hackable password? You might want to tack on a few numbers to it. Global consulting firm Deloitte released a report Tuesday with an alarming prediction.

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