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Stocks End Sharply Higher on Jobs Report
U.S. stocks jumped on Friday, with the Dow and the S&P 500 snapping a five-day losing streak after a strong jobs report gave traders confidence that the economy was improving.
Why the Dreaded Taper May Not Matter for Gold
Traders get encouraged by today's price action. File this under the category of just flat-out weird.
Disney Secures Rights for Future 'Indiana Jones' Films
Walt Disney Co has gained marketing and distribution rights for any future "Indiana Jones" films under an agreement with Paramount Pictures, the studio that released the first four movies in the blockbuster franchise.
The Stock Market Is 'Shrinking,' Despite Record-High Indexes
Wall Street's rally to record highs obscures the fact that there are fewer companies, more of them are small, and even big ones are reducing their share counts.
Barnes & Noble Shares Fall on SEC Probe
Shares of Barnes & Noble fell on Friday after the bookseller said it was cooperating in a Securities and Exchange Commission investigation into its accounting.
'Marriage Penalty' in Obamacare Could Hurt: AEI's Hassett
The Daily Ticker's Aaron Task discusses the marriage penalty in the Affordable Care Act with AEI economist Kevin Hassett.
6 States to Invest in Right Now
Not all fixed income investments are created equal and John Miller of Nuveen says these six states have some pretty attractive bond deals right now.
Forget Mustang, This Could Be a Big Problem for Ford
It’s sleek, fast, and just flat-out gorgeous. But can the new Ford Mustang revive Ford’s stock, which is stuck in neutral?
Apple's China Mobile Win Could Make Losers of Samsung, HTC
Apple shareholders are ecstatic over the iPhone maker’s expected deal with China Mobile, the world’s largest mobile carrier. But while Apple may win big, some competitors, especially Samsung Electronics and HTC, stand to lose out. Once a deal with China Mobile is complete, Apple is expected to more than double its sales in China, growing much faster than the overall smartphone market there and taking share from its two Asian competitors.
Corporate America Will Dominate the World in 2014: The...
What is the world going to look like in 2014? The Economist magazine is out with its predictions, and one is that American companies will be back on top of the business world again.
Taper or Not, America's Better Off Because of Fed: Altman
Friday’s jobs report capped a week of mostly solid economic news, once again spurring chatter about whether and when the Fed will taper.
Why Corporate America Is Backing Major League Soccer
Major League Soccer's MLS Cup Championship takes place tomorrow night and more than ever, corporate America is jumping into the growing sport.
Stock Watch: Sears to Spin-Off Lands End; American Eagle...
Here are four stocks the Yahoo Finance team will be watching today.
Jobs Report Beats Expectations: Economy Will Be Even...
The U.S. beat estimates and added 203,000 jobs this November, bringing the unemployment rate to 7% from 7.3%-- a five year low.
Why U.S. Energy Independence Is Within Our Reach
Dan Dicker of oilprice.com breaks down why U.S. energy outlook is in great shape, and how to trade it
Why the NASDAQ May Be Hitting the Law of Large Numbers
Will we see the NASDAQ hit 5,000 in 2014? The NASDAQ is trading at its highest level in over a decade and is up more than 1,000 points in the past year.
Stocks End Sharply Higher on Jobs Report; S&P Snaps...
Good news was finally good news for the stock market on Friday. Stocks jumped after the Labor Department said U.S. employers added 203,000 jobs last month, greater than the 180,000 economists had forecast.
Jobs Report Beats Expectations, Jobless Rate Hits 5-Year Low
Officially, 203,000 new jobs were created last month, and the unemployment rate dipped to 7%. What does it mean for the U.S. economy?
Remembering Nelson Mandela's Unsung Economic Legacy
Mandela's role in building the continent's largest economy ranks among the South African leader's greatest accomplishments.
In the Murky World of Bitcoin, Fraud Is Quicker Than the Law
Illicit activity is rising in the virtual currency market, where there is an increasing amount of real money but few rules and even less oversight.
Young Invincibles on Obamacare: ‘We’re Not Impressed’
The White House’s beleaguered attempts to woo young people into buying into the new health care law just hit another snag: The ‘young invincibles’ just aren’t that into it. More than half of 18- to 29-year-olds said they disapprove of the new law.
Lampert Sees Fund Investors Check Out
Edward S. Lampert, struggling to stem heavy losses at Sears Holdings Corp., is facing an exodus of money from his hedge fund. Mr. Lampert's hedge fund is returning billions to clients of Goldman Sachs Group Inc. who had invested with ESL Investments Inc. in 2007, according to people with knowledge of the matter. Under that deal, Goldman's clients, such as corporate pension plans, put roughly $3.5 billion with Mr. Lampert, and they have asked for it back. The recent events mark a reversal for Mr. Lampert, a lauded investor whose fund has made a huge bet that he can revive Sears.
Asian shares advance on China trade, falling yen
Most Asian share markets marched higher on Monday, energized by a potent cocktail of upbeat Chinese trade data, a weaker yen and a firm finish on Wall Street. Prices for iron ore have been surprisingly firm around $139 a tonne recently, good news for Australia as it is the country's single biggest export earner.
Fearing the Fed, aching for the ECB
Investors are sorely missing clarity on the world economy as the year draws to a close, and neither European finance ministers nor a new U.S. central bank president are likely to provide it. Inconclusive data in the United States has given few clues as to when the Federal Reserve might bring its policy of easy money to an end, while markets are still waiting for the European Central Bank (ECB) to come to the euro zone's rescue again with more than just another interest rate cut. Financial markets spent early December hanging on U.S. jobs data to make or break the case for continued U.S. stimulus, but there is still no clear mandate for what economists call the "tapering" of the Fed's bond buying.
EADS plans to cut up to 6,000 jobs and sell its Paris HQ:...
European aerospace company EADS (EAD.PA) plans to cut between 5,000 and 6,000 jobs and sell its Parisian headquarters as part of a restructuring program it will detail later on Monday, Le Figaro newspaper reported. Two industry sources told Reuters last month that the restructuring would cost thousands of jobs but fewer than the 8,000 reported by German news agency DPA. Le Figaro wrote that EADS did not foresee any layoffs, as the job cuts would be met through voluntary redundancies and transfers, while employees nearing retirement or the end of their temporary contracts would not be replaced. The company's offices in the Paris region will be reorganized, while the headquarters of its defense unit Cassidian in the German city of Unterschleissheim, north of Munich, would be closed and transferred further south, to Ottobrunn, the newspaper said.
Slower China inflation reduces worries of tighter policy
China's annual consumer inflation unexpectedly slowed in November, easing market fears of any imminent policy tightening as authorities meet this week to outline their policy and reform priorities for 2014. Rising money market rates and bond yields indicate the People's Bank of China (PBOC) is tightening liquidity conditions, to reduce debt levels and contain credit growth, but there is little sign of a sharp turnaround in monetary policy. Annual consumer inflation unexpectedly slowed to 3 percent in November from an eight-month high of 3.2 percent, the National Bureau of Statistics said on Monday. Analysts had expected the inflation rate to hold steady at October's level.
After vote, lawsuits likely next hurdle for Volcker rule
When U.S. regulators adopt the Volcker rule on Tuesday, they will make good on a promise by politicians to rein in banks' ability to gamble with their own money. The coordinated action by five separate regulatory agencies is seen sparking a court challenge as Wall Street tries once again to avoid one of the harshest elements of the post-financial crisis crackdown. The rule, championed by former Fed Chairman Paul Volcker, was a last-minute addition to the 2010 Dodd-Frank Wall Street reform law and takes aim at a business that had been a big money spinner for banks before the crisis. "For something of this magnitude and this controversial ... there will be somebody who will challenge it," said Brian Cartwright, an advisor at consultancy Patomak Global Partners and a former general counsel at the Securities and Exchange Commission, one of the agencies voting on the measure.
KKR, Bain among bidders for Tyco's $1.6 billion South...
KKR & Co LP (KKR) and Bain Capital are among suitors which have placed initial bids for Tyco International Inc's (TYC) South Korean security systems unit, a business valued at about $1.6 billion, people familiar with the matter said. Billion-dollar buyouts are rare in Asia, but security companies, when they come up for sale, tend to attract much interest from private equity firms as they are valued for their stable revenues. A sale of ADT Caps, would follow Bain's $3.4 billion purchase of European security firm Securitas Direct in 2011 and Blackstone Group's (BX) acquisition of U.S. firm Vivint Inc for more than $2 billion last year. Other bidders for ADT Caps include CVC Capital Partners (CVC.UL) as well as Hong Kong-based Affinity Equity Partners and South Korea's MBK Partners, the sources said, declining to be identified as the process is confidential.
Ex-Barclays boss Diamond targets Africa for banking return
Bob Diamond, the former boss of Barclays (BARC.L), is set to return to banking by listing a shell company in London in the next few weeks to invest in the African financial sector, a source familiar with the matter said. Diamond, who was ousted from Barclays last year after the Libor rate-rigging scandal, is finalizing plans to list Atlas Mara, a cash vehicle set up with billionaire entrepreneur Ashish Thakkar, chief executive of Mara Group, the source said. The vehicle will be managed by Atlas Merchant Capital, the merchant bank Diamond has set up in New York with a view to expand into sub-Sahara African banks and financial services.
After WTO, expectations grow for Trans-Pacific trade deal
Just days after the first World Trade Organisation trade reform deal was pushed through on Saturday, trade ministers from 12 countries are in closed-door talks in a Singapore hotel to try to tie up the Trans-Pacific Partnership (TPP). Agreement would establish a free-trade bloc stretching from Vietnam to Chile and Japan, encompassing some 800 million people and almost 40 percent of the global economy. Just a few months ago a deal looked a long way off, with Japan only entering into the talks in July and many countries at odds over issues ranging from tariffs on farm produce to rules on Internet freedom and state-owned enterprises. Japan's trade minister Yasutoshi Nishimura told reporters on Monday that progress was made during talks over dinner on Sunday, and observers say plenty of pre-work for the TPP talks went on during last week's WTO meeting in Bali.
Supreme Court justice denies stay in airline merger
A U.S. Supreme Court justice on Saturday night denied a last-ditch effort by a group of consumers and travel agents to stop the merger of American Airlines and US Airways. The application was denied by Justice Ruth Bader Ginsburg, the court's public information office said. The combination of American's parent, AMR Corp, and US Airways Group would create the world's largest carrier and follow last month's resolution of antitrust objections by the U.S. Department of Justice. In their appeal to the Supreme Court, plaintiffs led by California resident Carolyn Fjord warned that "irreparable injury" could be caused to the domestic airline industry if the deal goes ahead as planned.
Mexico Senate committee energy bill debate stretches into...
Mexican Senate committees on Sunday debated an energy bill that would open up the world's 10th-biggest oil producer to private investment by allowing new types of contracts, marking the industry's most dramatic overhaul in 75 years. The bill, announced by centrist ruling party and opposition conservative lawmakers on Saturday, would let private firms partner with ailing state oil firm Pemex (PEMX.UL) via profit-sharing, risk-sharing and service contracts as well as licenses in a bid to boost sagging production. The reform, which would keep ownership of crude in state hands, is at the center of an economic reform drive that President Enrique Pena Nieto hopes will boost lagging growth in Latin America's No. 2 economy. It is much bolder than a draft proposed by Pena Nieto's Institutional Revolutionary Party (PRI) in August, which would have offered profit-sharing contracts and was considered too tame for attracting private firms.
Dow Rises Triple Digits: Stocks Jump After Jobs Report
Good news may finally be good news. All three major U.S. stock indexes bounced back from four days of losses Friday as investors cheered a better-than expected November jobs report.