- 03Dec
(Reuters) - Stocks barely budged on Monday, with the S&P 500 and Nasdaq trimming early gains as disappointing U.S. factory numbers dented optimism spurred by positive data on China's economy. Output by China's factories grew in November for the first time in more than a year, data showed. But that encouraging signal about the health of the world's second-largest economy was offset by a surprising contraction in U.S. manufacturing, which fell in November to its lowest level in more than three years, according to the Institute for Supply Management.
- 03Dec
(Reuters) - Swiss bank UBS AG is nearing a deal to settle claims some of its staff manipulated interest rates and could reach agreement with U.S. and British authorities by the end of the year, a person familiar with the matter said on Monday. UBS is expected to pay more than $450 million to settle claims some of its employees submitted false Libor rates, the New York Times reported earlier.
- 03Dec
(Reuters) - Several automakers on Monday reported strong U.S. new-car sales for November as the industry rebounded from a storm-ravaged October while also benefiting from pent-up demand. Ford Motor Co (F.N) posted better-than-expected sales and Chrysler Group LLC, Toyota Motor Corp (7203.T), Nissan Motor Co (7201.T) and Hyundai Motor Co (005380.KS) also saw strong increases that industry executives said should continue through the end of the year.
- 03Dec
(Reuters) - Regulators on Monday charged the Chinese affiliates of five top accounting firms with violating securities laws, alleging they refused to produce audit documents in connection with accounting fraud investigations into Chinese companies. The Securities and Exchange Commission began proceedings against the Chinese units of Deloitte & Touche; Ernst & Young; KPMG;
- 03Dec
(Reuters) - U.S. solar companies First Solar Inc (FSLR.O) and SunPower Corp (SPWR.O) on Monday unveiled plans to expand in China, which is expected to be among the top solar markets in the world next year. First Solar, the biggest U.S. solar panel maker, agreed to supply 2 megawatts (MW) of its thin-film solar modules to a solar project in Xinjiang province in western China, in the first quarter of 2013.
- 12Nov
(Reuters) - Stocks pushed higher on Monday as bargain-hunters emerged after last week's selloff, though concerns of a drawn-out battle over the "fiscal cliff" put a cap on gains. Barclays cut its year-end target for the S&P 500 to 1,325 from 1,395, citing the government spending cuts and tax increases that will take effect early next year unless Congress acts before then.
- 12Nov
(Reuters) - Tech investors hoping for good news may have to look further than Cisco Systems Inc's (CSCO.O) quarterly report as analysts expect Chief Executive John Chambers to be pessimistic in his forecast for the coming year. Cisco, which is expected to meet estimates when it reports its first-quarter results on Tuesday, is seen as harbinger in terms of spending on information technology because of its global reach and customers across all sectors.
- 12Nov
(Reuters) - A host of challenges confront Mark Thompson as he officially takes over as chief executive of New York Times Co, from making the company less dependent on advertising to trimming costs to figuring out what to do with its pile of cash. Sizable as the tasks are, Thompson, who reported for work as the Times Co's CEO for the first time on Monday, is also dealing with questions resulting from a series of scandals that have rocked his former employer, the BBC.
- 12Nov
(Reuters) - Banking group HSBC (HSBA.L) has settled a case brought by a fund over losses it suffered during the collapse of fraudster Bernie Madoff's financial empire, potentially paving the way for more claims against fund custodians. The London-based bank said it had settled its dispute with Kalix Fund, which was suing the bank in Dublin for $35.6 million.
- 12Nov
(Reuters) - A U.S. judge on Monday rejected Deutsche Bank AG's (DBKGn.DE) bid to dismiss a federal regulator's lawsuit accusing it of misleading Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) into buying billions of dollars of risky mortgage debt. U.S. District Judge Denise Cote in Manhattan said the Federal Housing Finance Agency, which had sued over roughly $14.2 billion of securities, may pursue fraud claims over the German bank's representations in offering materials regarding mortgage underwriting standards.
