Archive for October, 2013

Bankrupt Alabama county gets $300 million more in concessions

October 31st, 2013

Bankrupt Alabama county gets $300 million more in concessions
(Reuters) – JPMorgan Chase and other Wall Street creditors have agreed to $300 million in new debt concessions aimed at ending the second largest U.S. municipal bankruptcy by year’s end. County officials had sought $350 million in concessions, arguing that recent jumps in interest rates had made a planned bond sale meant to replace soured debt had become too expensive and would require scuttling a negotiated agreement reached in June.
Source
Stock Markets News Headlines – Yahoo! News

Credit Suisse dismisses trader who cost bank $6 million: WSJ

October 31st, 2013

Credit Suisse dismisses trader who cost bank $6 million: WSJ

The logo of Swiss bank Credit Suisse is seen at an office building in Zurichhas dismissed a trader who cost the bank $6 million in losses from "unusual trading activities" that are being looked at by regulators, the Wall Street Journal reported on Thursday. The Swiss bank dismissed Rohit Jha, an exchange-traded-funds trader, this week and suspended his boss, Matthew Tagliani, the Journal said, citing people familiar with the matter. The trades occurred last year and sparked an investigation and attracted scrutiny from Britain's Financial Conduct Authority, the paper said. "As soon as Credit Suisse discovered unusual trading activities by one trader on its London equity division desk, the bank promptly notified the relevant authorities and has been cooperating with its regulators," Credit Suisse spokeswoman Sofia Rehman told the Journal.

Source
Stock Markets News Headlines – Yahoo! News

CANADA FX DEBT-C$ strengthens on better-than-expected GDP growth

October 31st, 2013

CANADA FX DEBT-C$ strengthens on better-than-expected GDP growth
* C$ at C$1.0427 vs US$, or 95.90 U.S. cents * Canadian GDP grows by 0.3 pct in August * Canadian bond prices flat to higher By Andrea Hopkins TORONTO, Oct 31 (Reuters) – The Canadian dollar ended…


Source
Reuters: US Dollar Report

U.S. workers can carry over $500 of health spending accounts: Treasury

October 31st, 2013

U.S. workers can carry over $500 of health spending accounts: Treasury
WASHINGTON (Reuters) – Americans who use flexible spending accounts (FSAs) for healthcare costs may now be able to carry up to $500 of expiring money into the next year, the U.S. Treasury said on…


Source
Reuters: Money

FOREX-Euro slumps after data, dollar broadly higher

October 31st, 2013

FOREX-Euro slumps after data, dollar broadly higher
* Euro-zone inflation at four-year low, unemployment high


Source
Reuters: US Dollar Report

Wall Street falls as Fed uncertainty weighs

October 31st, 2013

Wall Street falls as Fed uncertainty weighs

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) – U.S. stocks fell on Thursday on caution a day after the Federal Reserve kept its economic stimulus in place but failed to match some market expectations of extending accommodative policy into 2014. The Dow Jones industrial average fell 73.01 points or 0.47 percent, to end unofficially at 15,545.75. The S&P 500 lost 6.77 points or 0.38 percent, to finish unofficially at 1,756.54. The Nasdaq Composite dropped 10.914 points or 0.28 percent, to close unofficially at 3,919.706. The three major U.S. stock indexes closed October with gains. The Dow added 2. …

Source
Economy News Headlines – Yahoo! News

Economic, Political Volatility Cloud Housing Recovery

October 31st, 2013

Economic, Political Volatility Cloud Housing Recovery

The housing market is working through the remnants of the financial crisis, and until recently the sector’s recovery seemed to be on track. But recent drama in the national economy has left consumers reluctant to buy, experts say.

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Source
Economy

UPDATE 3-Murdoch editors Brooks, Coulson had affair, British hacking trial told

October 31st, 2013

UPDATE 3-Murdoch editors Brooks, Coulson had affair, British hacking trial told
LONDON, Oct 31 (Reuters) – Rebekah Brooks and Andy Coulson,
former editors of Rupert Murdoch’s now-defunct News of the World
tabloid, had a six-year affair at the time their reporters
hacked phone messages of politicians and royalty, a London court
heard on Thursday.
Source
Reuters: Media

UPDATE 3-Bombardier profit dips as plane deliveries, orders fall

October 31st, 2013

UPDATE 3-Bombardier profit dips as plane deliveries, orders fall
* Management evaluating CSeries entry-into-service date, no
change so far
Source
Reuters: Media

NiSource Meets Q3 Earnings Ests

October 31st, 2013

NiSource Meets Q3 Earnings Ests
NiSource Inc. posted operating earnings from continuing operation of 18 cents per share in the third quarter of 2013, in line with the Zacks Consensus Estimate.
Source
Stock Markets News Headlines – Yahoo! News