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Wednesday, February 20, 2013

Business Today: Wall Street ends down sharply after Fed minutes

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02/20/2013
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Wall Street ends down sharply after Fed minutes
NEW YORK (Reuters) - The S&P 500 posted its worst daily percentage decline since mid-November on Wednesday after minutes from the U.S. Federal Reserve suggested the central bank may slow or stop buying assets sooner than expected.
Homebuilding takes a breather; wholesale prices up
WASHINGTON (Reuters) - U.S. builders broke ground on fewer homes last month but a jump in permits for future construction to a 4-1/2-year high indicated the housing market recovery remains on track.
Chesapeake probe finds no "intentional" CEO misconduct
(Reuters) - Chesapeake Energy Corp said on Wednesday its internal investigation of the financial dealings of outgoing chief executive Aubrey McClendon found no "intentional" wrongdoing.
Office Depot in $976 million deal to buy rival OfficeMax
(Reuters) - Office Depot Inc will acquire smaller rival OfficeMax Inc in a $976 million all-stock deal, the companies said on Wednesday, confirming an agreement inadvertently announced earlier in the day, before it was completed.
Ex-Soros CIO begins courting capital for new fund
NEW YORK (Reuters) - Keith Anderson, the former chief investment officer for billionaire trader George Soros' money management firm, is raising money for a new macro hedge fund, according to a person familiar with the firm.
Boeing close to fixing Dreamliner battery: source
NEW DELHI (Reuters) - Boeing Co has found a way to fix battery problems on its grounded 787 Dreamliner jets that involves increasing the space between the lithium ion battery cells, a source familiar with the U.S. company's plans told Reuters.
Apple supplier Foxconn freezes hiring at largest plant
TAIPEI/NEW YORK (Reuters) - Apple Inc's manufacturing partner Foxconn Technology Group has frozen hiring at a Shenzhen plant that makes gadgets including the iPhone 5 and put the brakes on recruiting for other factories across China, but said the move was not linked to any single client.
Chevron, Transocean say Brazil drops criminal oil spill charges
RIO DE JANEIRO (Reuters) - A Brazilian judge dropped criminal charges against Chevron Corp , Transocean Ltd and 17 of their employees related to a November 2011 offshore oil spill, the companies said on Wednesday.
Heinz deal a "call to action" for Campbell Soup
BOCA RATON, Florida (Reuters) - The planned $23 billion acquisition of H.J. Heinz Co by Berkshire Hathaway Inc and 3G Capital is leading rival Campbell Soup Co to take a closer look at its own cost structure, the soup company's chief executive told Reuters on Wednesday.
MetLife puts British bulk annuity business up for sale
(Reuters) - MetLife Inc , the largest U.S. life insurer, has put its British bulk annuity business, MetLife Assurance Ltd, up for sale and has hired investment bankers from Citibank to run an auction for the unit, a person familiar with the matter said.
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