Career News 24/7: Reuters Money: Preparing for the stock market to reopen after Sandy

Wednesday, October 31, 2012

Reuters Money: Preparing for the stock market to reopen after Sandy

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10/31/2012

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Preparing for the stock market to reopen after Sandy

NEW YORK (Reuters) - As residents and businesses clean up from one of the worst storms to hit the U.S. East Coast in memory, investors are preparing for the stock market reaction by betting on or against insurers, casino companies and home improvement stores.

Treasury says expects to hit debt limit before 2013

WASHINGTON (Reuters) - The Treasury said on Wednesday it was still on track to hit the debt limit near the end of the year though emergency tools would allow the department to continue borrowing funds to keep the government operating through early 2013.

GM posts profit, sees break even in Europe by mid-decade

DETROIT (Reuters) - General Motors Co posted a surprisingly strong profit on Wednesday and said it was targeting a return to break-even levels in its European operations by mid-decade after a loss of as much as $1.8 billion in that region this year.

MasterCard revenue misses for second time as consumer spending slows

(Reuters) - Payment network MasterCard Inc's quarterly revenue missed analysts' estimates for the second time in a row as consumers held back on spending.

JPMorgan sues former London Whale boss: report

(Reuters) - JPMorgan Chase & Co has filed suit against the former boss of Bruno Iksil, the trader known as the London Whale for the outsized derivatives positions he took that cost the bank $6.2 billion this year, according to a published report.

Analysis: Investment sponges for a growth-saturated world

LONDON (Reuters) - When paltry growth, systemic risk and resource scarcity are darkening the global horizon, investors must hunt shrewdly to find stocks resilient enough to ride out the storm.

Hurricane Sandy losses may be triple those of Irene

(Reuters) - Hurricane Sandy appears to have easily caused twice or even three times the losses of last year's Hurricane Irene, but final totals will be hard to come by for some time because of the scale of the disaster, catastrophe forecasting companies said on Tuesday.

British investors cut safe-haven cash in hunt for returns

LONDON (Reuters) - British investors have entered the final quarter of 2012 in a more upbeat mood, making bets on riskier assets such as stocks and cutting their cash levels, a Reuters survey shows.

Employment costs contained in third quarter as wage growth lags

WASHINGTON (Reuters) - Labor costs rose modestly in the third quarter, pointing to benign wage pressures as the economy struggles to generate faster job growth.

Fannie, Freddie give relief to borrowers hit by Hurricane Sandy

WASHINGTON (Reuters) - Fannie Mae and Freddie Mac on Tuesday extended their disaster-relief policies to borrowers whose homes were damaged by Hurricane Sandy.