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Friday, April 5, 2013

Business Today: Wall Street falls for week as jobs data disappoints

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04/5/2013
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Wall Street falls for week as jobs data disappoints
NEW YORK (Reuters) - Stocks ended their worst week this year with losses on Friday after a weaker-than-expected jobs report undermined confidence in the economy and first-quarter earnings growth.
Weak job gains hurt economic outlook
WASHINGTON (Reuters) - American employers hired at the weakest pace in nine months in March, a sign tax hikes that kicked in early this year as part of Washington's austerity drive could be stealing momentum from the economy.
Boeing completes 787 Dreamliner test flight for battery fix
NEW YORK (Reuters) - Boeing completed a test flight on Friday of its 787 Dreamliner jet, part of a regimen of tests aimed at certifying a reworked system to prevent fire or overheating of the plane's lithium-ion batteries.
Bankruptcy judge approves MF Global's liquidation plan
NEW YORK (Reuters) - MF Global on Friday won court approval of a plan to liquidate its assets, pay back creditors and end the $40 billion bankruptcy that rocked the financial world in 2011.
Ruling against BP clears way for appeal of spill payouts
NEW ORLEANS (Reuters) - A U.S. judge's ruling Friday against BP Plc means the company can proceed with its appeal of the way a court-appointed administrator apportions payments for claims related to the 2010 Gulf of Mexico oil spill, some of which BP called "absurd."
Judge approves BofA $2.43 billion settlement over Merrill
NEW YORK (Reuters) - Bank of America Corp on Friday won a federal judge's approval for a $2.43 billion settlement with investors who said the lender hid crucial information when it bought Merrill Lynch & Co.
"Green" car maker Fisker fires 75 percent of U.S. workforce
DETROIT (Reuters) - Fisker Automotive, the struggling, government-backed hybrid sports car maker, said on Friday that it terminated most of its rank-and-file employees, in what sources said was a last-ditch effort to conserve cash and stave off a potential bankruptcy filing.
Exclusive: SocGen mulls up to 700 job cuts - union sources
PARIS (Reuters) - French bank Societe Generale may cut between 600 and 700 jobs as part of a broader cost-cutting drive in the face of stagnant growth in its home market, three union sources told Reuters on Friday.
Boeing has "good" 787 battery plan fix: official
WASHINGTON (Reuters) - Boeing Co has a "good plan" to fix the battery problem that has grounded its 787 Dreamliner jets, U.S. Transportation Secretary Ray LaHood said on Friday as the company prepared for a test flight to check the battery system revamp.
Watchdog did not have timely Bank of Cyprus data on Greek debt: report
NICOSIA (Reuters) - Regulators asked Cyprus's largest bank to provide information about its ultimately disastrous holdings of Greek debt as long as three years ago but got no immediate response and did not follow up, an external investigation said.
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