Unknown election outcome is stocks' big fear
By Ryan Vlastelica NEW YORK (Reuters) - A handful of toss-up U.S. Senate races next week could hold the key to whether the stock market glides through the year-end in a typical post-midterm election rally or gets hit with a fresh bout of volatility. U.S. investors appear less concerned with whether Republicans take control of the Senate, as expected, or Democrats hang on to their majority by a slim margin. They just want to know - come Wednesday morning - the actual outcome. ...
Fri, 31 Oct 2014 19:09:53 -0400
China's October factory growth unexpectedly hits five-month low: official PMI
BEIJING (Reuters) - China's factory activity unexpectedly fell to a five-month low in October as firms fought slowing orders and rising costs in the cooling economy, reinforcing views that the country's growth outlook is hazy at best. The official Purchasing Managers' Index (PMI) eased to 50.8 in October from September's 51.1, the National Bureau of Statistics said on Saturday, but above the 50-point level that separates growth from contraction on a monthly basis. Analysts polled by Reuters had forecast a reading of 51.2. ...
Sat, 01 Nov 2014 00:31:14 -0400
U.S. consumer spending falters; wage gains highest since 2008
By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer spending fell for the first time in eight months in September, suggesting the economy lost some momentum heading into the fourth quarter. But rising consumer sentiment and faster wage growth suggest the weakness in spending will be temporary, with the economy remaining on firm ground. "The fundamentals ... remain very solid," said Gus Faucher, a senior economist at PNC Financial Services in Pittsburgh. "The conditions are in place for continued above-trend growth. ...
Fri, 31 Oct 2014 13:28:31 -0400
J.P. Morgan found hackers through breach of corporate event website: media
(Reuters) - J.P. Morgan Chase & Co learned about hackers who stole the bank's contact information for 76 million households and 7 million small businesses through a corporate event that it sponsors, the New York Times and Wall Street Journal reported, citing people familiar with the matter. According to the reports, the bank discovered that the intruders had used some of the same offshore servers to hack both the bank and the website of the JPMorgan Corporate Challenge. ...
Fri, 31 Oct 2014 22:56:21 -0400
U.S. consumer sentiment at highest since July 2007
NEW YORK (Reuters) - U.S. consumer sentiment rose in October to its highest level since in more than seven years on growing optimism about the economy and more favorable personal financial expectations, a survey released on Friday showed. The Thomson Reuters/University of Michigan's final October reading on the overall index on consumer sentiment finished at 86.9, the highest level since July 2007, up from 84.6 at the end of September. The late October reading was up slightly from its initial figure of 86.4, which was also the expected reading of economists polled by Reuters. ...
Fri, 31 Oct 2014 09:57:49 -0400
Exxon, Chevron results boosted by refining as oil prices slip
(Reuters) - A surge in refining profits boosted quarterly results at Exxon Mobil Corp and Chevron Corp , helping to offset declining oil and gas production and falling crude oil prices. Both companies reported better-than-expected third-quarter profits on Friday, with executives touting the importance of owning massive refineries alongside oil and gas wells. Refining profits tend to rise when oil prices fall, though low prices dent the profitability of wells. Having both in a company stable can allow for a bit of insurance during price swings. ...
Fri, 31 Oct 2014 13:32:25 -0400
Top U.S. oil companies see more pressure to clamp down on spending
By Anna Driver HOUSTON (Reuters) - Top U.S. oil producers, which already were reining in spending before crude prices started to slip in June, are now looking to trim more fat from their budgets while reminding investors they must spend to grow. Exxon Mobil Corp on Friday it would keep its current spending plan intact, though it is about 15 percent less than 2013. ConocoPhillips said it will spend less money next year, and Chevron Corp said it is looking for budget "flexibility." Crude oil prices have slumped 25 percent since June as global supplies grow and demand weakens. ...
Fri, 31 Oct 2014 14:54:38 -0400
Dollar General extends tender offer for Family Dollar shares again
(Reuters) - Dollar General Corp extended its tender offer for shares of Family Dollar Stores Inc to Dec. 31, until after a shareholder vote that will decide the fate of a rival bid by Dollar Tree Inc . Dollar General had received offers for only about 4 million Family Dollar shares of a total 114 million outstanding shares as of Oct. 30, a day before the offer was to expire. Dollar General's perseverance to close a deal highlights its struggles in a weak economy where penny-pinching customers look for more discounts and deals. ...
Fri, 31 Oct 2014 14:00:45 -0400
Herbalife to pay $15 million to settle class action lawsuit
By Devika Krishna Kumar (Reuters) - Herbalife Ltd would pay $15 million to settle an 18-month battle over a class action lawsuit brought by a former distributor claiming that the nutrition and supplements company is running an alleged pyramid scheme, according to a U.S. court filing. The company would pay $15 million in cash, plus up to $2.5 million for product returns, according to the court filing that granted preliminary approval for the settlement on Friday. ...
Fri, 31 Oct 2014 20:53:58 -0400
Exclusive: U.S. probing Standard Chartered over Dubai banking - sources
By Karen Freifeld NEW YORK (Reuters) - U.S. authorities are investigating London-based Standard Chartered Plc for potential U.S. sanctions violations connected to its banking for Iranian-controlled entities in Dubai, according to people familiar with the probe. The latest investigation involving the bank is based, in part, from evidence that emerged during a separate probe of BNP Paribas, the French bank that pleaded guilty this summer to charges related to sanctions-busting and agreed to pay $8.9 billion in penalties, the people said. During the course of the BNP case, U.S. ...
Fri, 31 Oct 2014 19:08:36 -0400
Copyright (c) 2014 Yahoo! Inc. All rights reserved