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Business

Stocks rally on earnings hopes

CNNMoney.com - ‎7 hours ago‎
Wall Street welcomes Alcoa's better-than-expected results and a government report showing that the number of people filing for first-time unemployment declined.

Fed Said to Consider Clearing Banks, Facility to Drain Reserves

Bloomberg - Liz Capo McCormick, Craig Torres - ‎1 hour ago‎
By Liz Capo mccormick and Craig Torres Oct. 9 (Bloomberg) -- The Federal Reserve is considering accessing money market funds through clearing banks or creating a facility to drain the record amount of cash added to the financial system, according to ...

Wynn Macau Rises As Much As 13% On HK Debut

Wall Street Journal - Aries Poon - ‎45 minutes ago‎
HONG KONG (Dow Jones)--Casino operator Wynn Macau, Ltd. (1128.HK) rose as much as 13% on its debut on the Hong Kong stock exchange Friday, buoyed by optimism about growth in Macau's gambling revenue and bullish sentiment on ...

US anti-foreclosure programs not enough: watchdog

Reuters - Kevin Drawbaugh - ‎1 hour ago‎
WASHINGTON (Reuters) - Government programs to fight the US home foreclosure crisis look increasingly inadequate and should be reworked, expanded and supplemented with new ideas, a congressional watchdog said in a report on Friday.

Bank of Korea Keeps Rate at 2%, Signals It's on Hold

Bloomberg - Seyoon Kim - ‎21 minutes ago‎
Oct. 9 (Bloomberg) -- South Korea's central bank kept its benchmark interest rate unchanged at a record low and signaled it may keep borrowing costs on hold as home loans slow and it gauges the strength of the economic recovery.

Infosys Profit Gains 7.7%, Beats Estimates on Orders

Bloomberg - ‎57 minutes ago‎
By Harichandan Arakali Oct. 9 (Bloomberg) -- Infosys Technologies Ltd., India's second-largest software exporter, reported second-quarter profit rose 7.7 percent, beating analysts' estimates, after winning more business from its customers.

Citi management gets satisfactory marks in review

Reuters - Dan Wilchins, Steve Eder - ‎19 hours ago‎
BOSTON/NEW YORK (Reuters) - A review of Citigroup Inc's management team, demanded by US regulators in the aftermath of the financial crisis, gave it satisfactory marks, according to a person familiar with the matter.

Monsanto Questioned by Justice Department on Rival's Complaint

Bloomberg - Jack Kaskey - ‎50 minutes ago‎
Oct. 9 (Bloomberg) -- Monsanto Co., the world's largest seed producer, said it received questions from the US Justice Department about anti-competition complaints that rival DuPont Co.

More air travel misery on the way

CNNMoney.com - Aaron Smith - ‎15 hours ago‎
As the economy picks up, so will air travel. That could mean more delayed flights, according to a new report by the Brookings Institution.

Barnes & Noble's Sales Down In Aug-Sep; New View Given

Wall Street Journal - ‎18 hours ago‎
Barnes & Noble Inc. (BKS) said same-store sales fell 4.3% in August and September while online sales clumped 8%. The quarter-to-date figure for same-store sales is below the 1% to 3% drop the largest bookstore chain in the US has projected for the full ...

US Govt Proposes Delay On Controversial Utah Leases

Wall Street Journal - Siobhan Hughes - ‎7 hours ago‎
WASHINGTON (Dow Jones)--The Obama administration Thursday proposed putting on hold or blocking about three quarters of the 77 controversial leases awarded last year to drill for oil or gas in wilderness areas of Utah, and signaled ...

TREASURIES-Fall in Asia on demand worry after weak 30-yr tender

Reuters - Kaori Kaneko, Chris Gallagher - ‎39 minutes ago‎
TOKYO, Oct 9 (Reuters) - US Treasuries fell in Asia on Friday after a weak auction of 30-year bonds the previous day sparked concern that demand for government debt is decreasing.

GM Expected to Seal Hummer Sale

Wall Street Journal - Norihiko Shirouzu - ‎1 hour ago‎
BEIJING - General Motors Co. is expected to seal a deal as early as Friday to sell its Hummer unit to China's Tengzhong Heavy Industrial Machinery Co.

Asian stocks rise but Japanese data tempers gains

The Associated Press - Joe McDonald - ‎1 hour ago‎
BEIJING - Most Asian stocks markets rose Friday but gains were tempered after Japanese machinery orders were weaker than expected, fueling concern about company spending despite improving global demand.

US Mortgage Giant May Need Bailout, Experts Say

New York Times - David Streitfeld, Louise Story - ‎3 hours ago‎
Bernadine Shimon and her son Cooper Jonas, at their new home in Northglenn, Colo., obtained after the FHA insured her mortgage. By DAVID STREITFELD and LOUISE STORY A year after Fannie Mae and Freddie Mac teetered, industry executives and Washington ...
Mortgage Rates Fall Again Wall Street Journal
15 yr fixed mtg CNNMoney.com

RPT-UPDATE 1-Labor group asks pay czar to stop BofA CEO pension

Reuters - Karey Wutkowski, Joe Rauch - ‎39 minutes ago‎
WASHINGTON/ NEW YORK, Oct 8 (Reuters) - A top US labor group on Thursday asked the Obama administration's "pay czar" to stop any retirement payments to Bank of America (BAC.

California raises yield, cuts amount to draw bond buyers

MarketWatch - Laura Mandaro, Deborah Levine - ‎1 hour ago‎
By Laura Mandaro & Deborah Levine, MarketWatch SAN FRANCISCO (MarketWatch) -- California on Thursday raised the yields and slashed the size of a multi-billion dollar debt sale after investors responded more coolly to the debt offering than expected.

IBM Faces Antitrust Probe: Why Mainframes?

BusinessWeek - Rachael King - ‎2 hours ago‎
Mainframes may seem an odd subject for a Justice Dept. antitrust probe, but these seemingly outdated machines could play a key role in cloud computing By Rachael King On its face, news of the Justice Dept.

Gold Pares Biggest Weekly Gain Since April as Rally Spurs Sales

Bloomberg - Glenys Sim - ‎36 minutes ago‎
Oct. 9 (Bloomberg) -- Gold dropped for the first time this week, paring its biggest weekly advance since April, after a climb to a record prompted some investors to sell the metal to lock in gains.

Senate sends agriculture spending bill to Obama

The Associated Press - Andrew Taylor - ‎7 hours ago‎
WASHINGTON - Dairy farmers suffering from low milk prices would benefit from $350 million in emergency funding approved by the Senate on Thursday as it cleared a $121 billion agriculture spending bill for President Barack Obama's signature.
Got Money? Washington Post
'A terrible year' for Minnesota's dairy Minneapolis Star Tribune

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