Career News 24/7: Business Today: Wall Street rebounds on some "cliff' progress

Thursday, December 20, 2012

Business Today: Wall Street rebounds on some "cliff' progress

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12/20/2012

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 rebounds on some "cliff' progress

NEW YORK (Reuters) - U.S. stocks rebounded from early losses on Thursday, as stocks caught a bit of buying action after Republican House Speaker John Boehner said he would keep working on a solution to the "fiscal cliff" while also slamming President Barack Obama's approach to budget talks.

ICE to buy NYSE Euronext for $8.2 billion

NEW YORK/LONDON (Reuters) - IntercontinentalExchange struck an $8.2 billion deal to buy NYSE Euronext, a combination that will propel the commodities market powerhouse into European financial futures but threaten to further reduce the clout of the New York Stock Exchange.

U.S. state, local spending expands for first time in 3 years

WASHINGTON (Reuters) - State and local government spending grew at a 0.3 percent annual rate in the third quarter, after 11 straight quarters of contraction, the U.S. Commerce Department said on Thursday.

Wal-Mart names Karen Roberts new general counsel

(Reuters) - Wal-Mart Stores Inc , which is facing bribery investigations by the U.S. Department of Justice and the Securities and Exchange Commission, named a new general counsel, Karen Roberts, effective February 1, 2013.

RIM posts smaller than expected loss; subscriber base slips

(Reuters) - Research In Motion reported a smaller-than-expected quarterly loss on Thursday, but recorded the first-ever drop in its subscriber base barely a month before the crucial launch of the new BB10 smartphone line.

Nike posts smaller quarterly profit

(Reuters) - Nike Inc posted a smaller quarterly profit as the sportswear maker wades through excess inventory in growing markets like China.

Chipmaker Micron posts net loss as PC industry wavers

SAN FRANCISCO (Reuters) - Micron Technology posted a quarterly net loss and lower revenue as it struggled with a slowing PC industry and macroeconomic uncertainty.

Republicans push own "fiscal cliff" plan; talks frozen

WASHINGTON (Reuters) - Republicans in the Congress pushed ahead on Thursday with a "fiscal cliff" plan that stands no chance of becoming law as time runs short to reach a deal with President Barack Obama to avert a Washington-induced economic recession.

U.S. economy shows some muscle, but outlook downbeat

WASHINGTON (Reuters) - The U.S. economy grew faster than previously thought in the third quarter, helped by exports and government spending, but a sluggish world economy and belt-tightening by Washington looks set to put on the brakes again.

Bombardier gets more C-Series good news, firms up order

(Reuters) - Shares of Bombardier Inc rose on Thursday after its new C-Series jet program received its second dose of good news in as many days when Latvia's airBaltic firmed up a tentative order for 10 of the narrow-body commercial planes.