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Thursday, November 15, 2012

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Business Today: Wall Street ends flat as wary investors stay defensive

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11/15/2012
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 ends flat as wary investors stay defensive
NEW YORK (Reuters) - Stocks were little changed on Thursday as the prospect of a drawn-out battle over impending tax and spending changes made investors wary of getting into the water, while retailer Wal-Mart tumbled after disappointing sales.
BP agrees to record criminal penalties for U.S. oil spill
HOUSTON/WASHINGTON (Reuters) - BP Plc will pay $4.5 billion in penalties and plead guilty to felony misconduct in the Deepwater Horizon disaster, which caused the worst U.S. offshore oil spill ever.
Dell revenue lower than Street view
SAN FRANCISCO (Reuters) - Dell Inc reported revenue that was slightly lower than Wall Street expectations for the third quarter but said it expects revenue to grow 2 to 5 percent in the fourth quarter.
Gap posts bigger quarterly profit, shares rise
(Reuters) - Brightly colored jeans and dresses helped Gap Inc post a bigger quarterly profit ahead of the holiday season and the company raised its profit view for the year, sending its shares up 3 percent after the bell.
Postal Service reports $15.9 billion annual loss
WASHINGTON (Reuters) - The Postal Service posted a record net loss of $15.9 billion in fiscal 2012, much of it due to massive payments the mail agency could not make but still must account for in financial statements.
They're buying what? U.S. investors latch onto Iraqi dinar
NEW YORK (Reuters) - The U.S. stock market almost wiped out his retirement account, but retired pilot Ronald Scarpa hasn't lost his taste for risk. Lately he has turned to one of the chanciest investments in the world - the Iraqi dinar.
Wal-Mart sales under global pressure, shares down
(Reuters) - Wal-Mart Stores Inc posted disappointing quarterly sales on Thursday as shoppers in key markets like the United States battled high gasoline prices and unemployment, while store traffic continued to decline in China.
P&G set to cut more jobs, repurchase additional shares
CINCINNATI (Reuters) - Procter & Gamble plans to trim more non-manufacturing jobs through 2016, on top of cutting 10 percent of that workforce by the end of June, as the world's largest household-products maker tries to reinvigorate what has become a sluggish organization.
Rockwell says Boeing 737 MAX deal "very material"
NEW YORK (Reuters) - Boeing Co said on Thursday it had locked down a basic design for its new 737 MAX jet, choosing suppliers for key components and moving the project a step closer to production in 2015.
Liquidation deadline looms for Twinkies maker Hostess
LENEXA, Kan (Reuters) - A standoff between Hostess Brands Inc. and thousands of its bakery workers was heading for a showdown Thursday as both sides declared they would not bend and were set to accept the demise of the historic maker of Twinkies and Wonder Bread.
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