- 04Nov
(Reuters) - Policymakers from the world's new economic powerhouses in Latin America and Asia on Thursday criticized the U.S. Federal Reserve's move to inject billions of dollars into the U.S. economy to boost growth. Emerging market economies said the Fed's move made any substantive deal on cutting global economic imbalances less likely at next week's Group of 20 meeting in Seoul.
- 04Nov
(Reuters) - JPMorgan Chase & Co (JPM.N) expects to start re-filing foreclosure documents in a couple of weeks, according to retail financial services Chief Executive Officer Charlie Scharf. JPMorgan was among a handful of banks to temporarily suspend home seizures after finding glitches in foreclosure documents. Other banks, including Bank of America Corp (BAC.N) and Ally Financial's GMAC Mortgage unit, recently resumed some foreclosures.
- 04Nov
(Reuters) - Coca-Cola Co (KO.N) announced a $4 billion debt offering on Thursday, the biggest in its history, as the world's top soft drink maker aims to take advantage of low borrowing rates. Coke is offering to buy back a range of debt securities in a tender offer and will issue new notes with net proceeds of at least $4 billion to finance the purchase.
- 04Nov
(Reuters) - Canada blocked BHP Billiton's $39 billion bid for Potash Corp and left little room for a modified offer, throwing the spotlight on how the world's largest miner can find new avenues for growth. Canada said the deal would not benefit the country, delivering a major blow to BHP Chief Executive Marius Kloppers after the 2008 failure of a $120-billion-plus bid for rival Rio Tinto and the collapse of a $116-billion iron ore joint venture with Rio earlier this year.
- 03Nov
(Reuters) - Wall Street was little changed on Wednesday as investors withheld bets ahead of a Federal Reserve announcement likely to detail plans to buy Treasuries in a bid to help the struggling economy. Traders looked for volatility heading into the Fed statement, due at about 2:15 p.m. EDT, likely to be on the extent and length of the purchases -- widely seen to total at least $500 billion.
- 03Nov
(Reuters) - The Federal Reserve is expected to announce a controversial policy on Wednesday to buy billions more dollars of government bonds in an attempt to breathe new life into the struggling U.S. economy. The well-telegraphed decision would be aimed at further lowering borrowing costs for consumers and businesses that are still suffering from the worst recession since the Great Depression, though there are doubts about its effectiveness.
- 03Nov
(Reuters) - U.S. companies added to payrolls more than expected in October, slightly boosting optimism about the job market ahead of Friday's government employment report. U.S. private employers added 43,000 jobs in October compared with a revised loss of 2,000 jobs in September, payrolls processor ADP Employer Services, which developed the report with Macroeconomic Advisers LLC, said on Wednesday. The September figure was originally reported as a loss of 39,000.
- 03Nov
(Reuters) - Russian fertilizer group Phosagro wants Russian firms to buy a stake in Potash Corp in an attempt to scupper BHP Billiton's $39 billion offer awaiting a crucial ruling from the Canadian government. Phosagro Chairman Vladimir Litvinenko said he had asked close ally and Russian Prime Minister Vladimir Putin to approve a potential move and examine the financial details, saying Russian interests were at stake if BHP was allowed to succeed.
- 03Nov
(Reuters) - General Motors Co GM.UL can get a tax break of up to $45 billion as part of its U.S. government-financed restructuring, documents filed with federal regulators earlier this year showed. The Wall Street Journal earlier reported that GM would not have to pay federal taxes on up to $50 billion in profits. A later version of this story revised this figure to about $45 billion.
- 03Nov
(Reuters) - Freddie Mac, the second-largest provider of U.S. residential mortgage funding, on Wednesday said ongoing weakness in housing resulted in a $4.1 billion third-quarter net loss and another draw from the Treasury to maintain positive net worth. Costs may increase "significantly" as snags in the foreclosure processes at major loan servicing companies increase delays in working with troubled borrowers and selling properties, it warned.
