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Wednesday, November 28, 2012

Business Today: Wall Street jumps in another "fiscal cliff" swing

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11/28/2012
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
Wall Street jumps in another "fiscal cliff" swing
NEW YORK (Reuters) - Stocks rallied on Wednesday after comments from House Speaker John Boehner, the top Republican in Congress, on a possible compromise to avoid the "fiscal cliff" turned the market around.
House speaker Boehner optimistic can avert fiscal crisis
WASHINGTON (Reuters) - House Speaker John Boehner voiced optimism that Republicans could broker a deal with the White House to avoid year-end austerity measures, saying on Wednesday that Republicans were willing to raise revenues if Democrats agreed to spending cuts.
U.S. bans BP from new government contracts after oil spill deal
WASHINGTON (Reuters) - The U.S. government banned BP Plc from new federal contracts on Wednesday over its "lack of business integrity" in the Deepwater Horizon oil spill in 2010, a move that could imperil the British energy giant's U.S. footing.
Microsoft CEO defends its innovation record, financial results
BELLEVUE, Washington (Reuters) - Microsoft Corp Chief Executive Steve Ballmer defended his company's record on innovation and financial performance at the annual shareholders' meeting, but conceded that he should have moved faster to get into the booming tablet market dominated by Apple Inc's iPad.
Exclusive: Vivendi gets four bids for GVT - sources
PARIS (Reuters) - Vivendi is examining four non-binding offers above 6 billion euros ($7.75 billion) for its Brazilian broadband specialist GVT, according to a person familiar with the situation.
Going global: India's Mahindra races for Aston Martin
MUMBAI (Reuters) - Sports car maker Aston Martin may look like a shiny trophy that makes an awkward fit for Mahindra and Mahindra , the world's biggest tractor maker, but it would help the Indian group realize a long-standing ambition to be a global player.
SAC Capital threatened with fraud charges: sources
NEW YORK (Reuters) - The U.S. government is threatening to file civil securities fraud charges against SAC Capital Advisors and is tightening the regulatory screws around Steven A. Cohen, the $14 billion hedge fund's founder and one of the industry's most famous traders.
Pentagon, Lockheed "getting close" on next F-35 contract: Kendall
NEW YORK (Reuters) - Lockheed Martin Corp and the Defense Department are nearing agreement on a long-delayed contract for a fifth batch of F-35 fighter jets, the Pentagon's chief weapons buyer told Reuters on Wednesday.
Coldwater Creek founder CEO to retire
(Reuters) - Women's apparel retailer Coldwater Creek Inc said its co-founder and Chief Executive Dennis Pence will retire, effective December 31.
Beleaguered Groupon CEO says would fire himself if needed
NEW YORK (Reuters) - Groupon Inc Chief Executive Andrew Mason, under fire for a plunging share price and tapering growth, declared on Wednesday he would fire himself if he ever thought he was the wrong man for the job.
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