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• Wall Street mixed following jobs, ISM data reports
• Job growth cools slightly, recovery grinds on
• Exclusive: Senators seek probe into royalties on coal exports
• U.S. activity picks up, hopes for euro zone rise
• White House says Congress must raise debt limit
• Hedge fund manager Einhorn disappoints, Loeb wins big in 2012
• Factory orders flat, but gauge of confidence firm
• Swiss bank Wegelin to close after guilty plea
• GM recalls more than 69,000 vehicles that could roll away
• Global stocks tick up, dollar pares gains after U.S. payrolls
• 'McDreamy' says he beat Starbucks for coffee chain
• US economy adds 155K jobs; rate remains 7.8 pct.
• US service firms grow by most in 10 months
• US factory orders unchanged in November
• Oil slips on stimulus concerns
• Indian court to rule on generic drug industry
• Lilly 2013 profit forecast tops expectations
• New search engine tailors its results for tablets
• Google emerges from FTC probe relatively unscathed
• Actor Dempsey: Coffee chain bid appears successful
• US economy adds 155K jobs, rate stays at 7.8 pct.

Wall Street mixed following jobs, ISM data reports Posted: 04 Jan 2013 08:37 AM PST NEW YORK (Reuters) - Stocks firmed on Friday after a jobs report showed the pace of hiring met expectations by easing slightly in December, but gave indications of momentum in the labor market recovery. The market also reacted modestly to data from the Institute for Supply Management, which showed the U.S. service sector grew at its fastest pace in 10 months in December, boosted by a rise in new orders. ...

Job growth cools slightly, recovery grinds on Posted: 04 Jan 2013 07:42 AM PST WASHINGTON (Reuters) - Employers kept their pace of hiring virtually steady in December, falling short of the levels needed to bring down the country's lofty unemployment rate and pointing to lackluster economic growth in 2013. Other data on Friday gave stronger signs of growth, with the U.S. service sector activity expanding the most in 10 months. Payrolls outside the farming sector grew 155,000 last month, the Labor Department said. That was in line with analysts' expectations and slightly below the revised gain of 161,000 reported for November. The jobless rate was steady at 7.8 percent. ...

Exclusive: Senators seek probe into royalties on coal exports Posted: 04 Jan 2013 08:21 AM PST WASHINGTON (Reuters) - Two top U.S. senators are calling for the Interior Department to investigate whether coal companies are undervaluing coal they export in order to lower their royalty payments to the government by hundreds of millions of dollars. Democratic Senator Ron Wyden, the incoming chairman of the Energy and Natural Resources Committee, and the panel's leading Republican, Senator Lisa Murkowski, said they were concerned that coal companies may be shorting royalty payments. ...

U.S. activity picks up, hopes for euro zone rise Posted: 04 Jan 2013 09:05 AM PST NEW YORK/LONDON (Reuters) - Activity in the dominant U.S. services sector perked up in the final month of 2012, while hopes grew that Europe may be through the worst of its economic slump, surveys showed on Friday. Britain's vast services sector, however, contracted for the first time in two years, suggesting the broader economy probably shrank as well in the final three months of 2012. Worldwide, private sector business growth hit a nine-month high, boosted largely by service-oriented firms. ...

White House says Congress must raise debt limit Posted: 04 Jan 2013 07:18 AM PST WASHINGTON (Reuters) - The White House said on Friday it is vital for Congress to quickly resolve future tax and spending feuds, and raise the U.S. borrowing authority to avoid economic uncertainty. "It is quite clear that the economy will be better if Congress does its job and does what it routinely has done historically which is raise the debt limit without problem," Alan Krueger, chairman of the White House Council of Economic Advisers, said in an interview on Bloomberg television. ...

Hedge fund manager Einhorn disappoints, Loeb wins big in 2012 Posted: 04 Jan 2013 08:28 AM PST BOSTON/NEW YORK (Reuters) - Two widely followed hedge fund managers ended the year on divergent notes with Daniel Loeb handily beating the broader stock market with double-digit returns while David Einhorn posted only a modest single-digit annual gain after his flagship fund performed poorly in December. For Einhorn, who has moved stock prices by simply opening his mouth, 2012 ended with lackluster returns when his Greenlight Capital lost 2.8 percent in December, a person familiar with the fund's performance said. ...

Factory orders flat, but gauge of confidence firm Posted: 04 Jan 2013 07:08 AM PST WASHINGTON (Reuters) - New orders received by U.S. factories were flat in November, missing expectations as demand for aircraft sank sharply, although a gauge of business spending plans still gave a positive sign for the economy. The Commerce Department on Friday said orders for factory goods were unchanged after gaining 0.8 percent in October. Analysts polled by Reuters had expected a 0.4 percent increase in November. ...

Swiss bank Wegelin to close after guilty plea Posted: 04 Jan 2013 05:27 AM PST NEW YORK (Reuters) - Wegelin & Co, the oldest Swiss private bank, said on Thursday it would shut its doors permanently after more than 2 1/2 centuries, following its guilty plea to charges of helping wealthy Americans evade taxes through secret accounts. The plea, in U.S. District Court in Manhattan, marks the death knell for one of Switzerland's most storied banks, whose original European clients pre-date the American Revolution. It is also potentially a major turning point in a battle by U.S. authorities against Swiss bank secrecy. ...

GM recalls more than 69,000 vehicles that could roll away Posted: 04 Jan 2013 06:19 AM PST (Reuters) - General Motors Co is recalling more than 69,000 full-size trucks and vans globally that could roll away after being parked due to a potential steering column defect, the automaker said on Friday. The vehicles may have been built with a fractured park lock cable or a malformed steering column lock actuator gear, and could roll away after the driver has exited the vehicle, according to documents filed with the U.S. National Highway Traffic Safety Administration. GM said most of the affected vehicles are believed to be still on dealer lots or in transit to dealers. ...

Global stocks tick up, dollar pares gains after U.S. payrolls Posted: 04 Jan 2013 07:22 AM PST NEW YORK (Reuters) - World shares rose and the U.S. dollar pared gains on Friday after a payrolls report scaled back expectations of a change in U.S. monetary policy. The pace of U.S. job growth slowed slightly in December, keeping the unemployment rate steady at 7.8 percent, but details of the Labor Department's U.S. employment report also pointed to a slow but steady recovery. The stubbornly high unemployment rate was unlikely to make the Federal Reserve rethink its easy-money policies, which have been propping up the recovery. ...

'McDreamy' says he beat Starbucks for coffee chain Posted: 04 Jan 2013 09:04 AM PST SEATTLE (AP) — "Grey's Anatomy" star Patrick Dempsey may be the real "McSteamy."

US economy adds 155K jobs; rate remains 7.8 pct. Posted: 04 Jan 2013 08:55 AM PST WASHINGTON (AP) — U.S. employers added 155,000 jobs in December, a steady gain that shows hiring held up during the tense negotiations to resolve the fiscal cliff.

US service firms grow by most in 10 months Posted: 04 Jan 2013 08:23 AM PST WASHINGTON (AP) — A gauge of U.S. service firms' activity expanded in December by the most in nearly a year, driven by a jump in new orders and hiring.

US factory orders unchanged in November Posted: 04 Jan 2013 07:52 AM PST WASHINGTON (AP) — U.S. companies boosted their orders in November for manufactured goods that reflect investment plans even though total orders were unchanged for the month.

Oil slips on stimulus concerns Posted: 04 Jan 2013 08:08 AM PST NEW YORK (AP) — The price of oil fell slightly Friday as investors weighed the possibility that the Federal Reserve might end its extraordinary economic stimulus measures later this year.

Indian court to rule on generic drug industry Posted: 04 Jan 2013 04:44 AM PST NEW DELHI (AP) — From Africa's crowded AIDS clinics to the malarial jungles of Southeast Asia, the lives of millions of ill people in the developing world are hanging in the balance ahead of a legal ruling that will determine whether India's drug companies can continue to provide cheap versions of many life-saving medicines.

Lilly 2013 profit forecast tops expectations Posted: 04 Jan 2013 05:31 AM PST INDIANAPOLIS (AP) — Eli Lilly and Co. forecasts its 2013 earnings will grow more than Wall Street expects even though the drugmaker will lose U.S. patent protection for two more key products in the new year.

New search engine tailors its results for tablets Posted: 04 Jan 2013 08:00 AM PST SAN FRANCISCO (AP) — Are tablet users looking for an alternative to Google and other search engines designed primarily for PCs?

Google emerges from FTC probe relatively unscathed Posted: 04 Jan 2013 04:46 AM PST SAN FRANCISCO (AP) — Google has settled a U.S. government probe into its business practices without making any major concessions on how the company runs its Internet search engine, the world's most influential gateway to digital information and commerce.

Actor Dempsey: Coffee chain bid appears successful Posted: 04 Jan 2013 04:41 AM PST SEATTLE (AP) — Actor Patrick Dempsey said it appears his bid to buy a small coffee chain has prevailed in a bankruptcy auction that included Starbucks Corp.

US economy adds 155K jobs, rate stays at 7.8 pct. Posted: 04 Jan 2013 06:26 AM PST WASHINGTON (AP) — U.S. employers added 155,000 jobs in December, a steady gain that shows hiring held up during the tense negotiations to resolve the fiscal cliff.

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