- 15Nov
(Reuters) - The recovery in the U.S. economy and labor market is expected to be modestly slower in the fourth quarter than previously expected, according to a survey of forecasters released on Monday. The Federal Reserve Bank of Philadelphia's survey of 43 professional forecasters sees the economy growing at an annual rate of 2.2 percent in the current quarter, down from the estimate of 2.8 percent three months ago.
- 15Nov
(Reuters) - Major credit-card lenders reported lower delinquency rates on Monday, as fewer Americans fell behind on payments, in another sign that the economic recovery is gaining momentum. Bank of America Corp (BAC.N), Discover Financial Services (DFS.N) and Capital One Financial Corp (COF.N) said the rate of late payments on their credit cards fell to the lowest levels this year in October.
- 15Nov
(Reuters) - Motorola Inc (MOT.N) is aiming to separate the company into two separate entities as soon as January, according to Greg Brown, its co-chief executive. The company had previously said it would separate the company in the first quarter into two parts: Motorola Mobility, which will sell mobile handsets and television set-top boxes, and Motorola Solutions, which will supply wireless technology to governments and enterprises.
- 15Nov
(Reuters) - U.S. stocks pared gains in early Monday trade, with the Nasdaq index turning negative weighed by Amazon (AMZN.O) and Priceline (PCLN.O). The Dow Jones industrial average .DJI was up 24.64 points, or 0.22 percent, at 11,217.22. The Standard & Poor's 500 Index .SPX rose 1.78 points, or 0.15 percent, at 1,200.99. The Nasdaq Composite Index .IXIC was down 0.84 points, or 0.03 percent, at 2,517.37.
- 15Nov
(Reuters) - Stock index futures trimmed gains on Monday after data showed October retail sales were stronger than forecast but manufacturing growth in New York declined in November. S&P 500 futures rose 3.5 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures jumped 46 points and Nasdaq 100 futures added 15.25 points.
- 15Nov
(Reuters) - Sales at U.S. retailers rose more than expected in October to post their largest gain in seven months, boosted by purchases of motor vehicles and building materials, according to a government report on Monday that was further evidence the economy was regaining strength. The Commerce Department said total retail sales increased 1.2 percent, the biggest rise since March, after advancing by an upwardly revised 0.7 percent in September.
- 15Nov
(Reuters) - By the standards of recent financial scandals, Stephanie Rae Roqumore's alleged $6.8 million natural gas trading scam may be small potatoes, but it raises some big questions. How could a lone natural gas trader in Houston dupe some of the world's biggest energy companies for eight years, despite a veritable forest of red flags? After all, the overhaul of trading rules and credit practices in the wake of Enron's collapse was supposed to make it tougher, if not impossible, to perpetuate such a fraud.
- 15Nov
(Reuters) - Top global miner BHP Billiton scrapped its $39 billion bid for Canada's Potash Corp, the world's biggest deal this year, after rejection by regulators and bowed to calls from investors to return cash. BHP, conceding defeat for the third straight time on a major proposed merger or acquisition, signaled with its revived $4.2 billion share buyback that it had limited opportunities for other big buys.
- 15Nov
(Reuters) - Aid would be available for Ireland's banking sector or the state itself, a top European policymaker said on Monday after a report suggested Dublin could seek money for its stricken banks from an EU emergency fund. Dublin reiterated that it will not need a bailout from the European Union or the International Monetary Fund although EU sources have said talks on a possible bailout are under way and it is unlikely to hold out without assistance.
- 15Nov
(Reuters) - Australian wealth manager AMP (AMP.AX) and French insurer AXA SA (AXAF.PA) launched a new $13.1 billion-plus bid for AXA Asia Pacific, a move set to challenge banks' domination of the world's fourth-largest wealth market down under. A deal would put AMP at the top of Australia's $1.2 trillion wealth management market, and end one of Asia's largest takeovers that has dragged on for a year.
