Business Today: Wall Street inches up in light trade; focus on Fed taper

	Click to View in Browser 11/11/2013 Wall Street inches up in light trade; focus on Fed taper NEW YORK (Reuters) - U.S. stocks edged up on Monday, lifting the Dow to another record closing high in light volume on Veterans Day while investors turned their focus to how soon the Federal Reserve may begin reducing stimulus. OSX becomes second Batista company to file for bankruptcy RIO DE JANEIRO (Reuters) - Brazilian shipbuilder OSX Brasil SA filed for bankruptcy protection on Monday, becoming the second company controlled by former billionaire Eike Batista to seek court protection from creditors in just over a week. News Corp reports lower revenue on decline in ad sales (Reuters) - Rupert Murdoch's News Corp on Monday reported a steeper than expected 3 percent decline in first-quarter revenue to $2.07 billion because of lower advertising revenue at its newspapers. China to unveil 10-year reform plan, expectations toned down BEIJING (Reuters) - China's leaders will unveil a reform agenda for the next decade on Tuesday, seeking to balance the need to overhaul the world's second-largest economy as it loses steam with preserving stability and to reinforce the Communist Party's power. Virgin enters fray to oppose US Airways-American deal WASHINGTON (Reuters) - The airline Virgin America Inc asked for permission on Monday to file a brief with the court hearing the Justice Department's bid to stop a merger of US Airways and American Airlines, arguing for barriers to entry to be lowered in the industry. Alitalia calls board meeting, may discuss job cuts MILAN (Reuters) - Italian airline Alitalia has called a board meeting for Wednesday to discuss a revised industrial plan for the loss-making carrier that could include heavy job losses, sources familiar with the situation said on Monday. Moody's, S&P and Fitch sued over failed Bear Stearns funds NEW YORK (Reuters) - The liquidators of two Bear Stearns hedge funds filed a lawsuit on Monday against the three major U.S. rating agencies, accusing them of fraudulently assigning inflated ratings to securities in the run-up to the financial crisis. HSBC, JPMorgan top global banks capital surcharge list LONDON (Reuters) - JP Morgan and HSBC topped the list of the world's top 29 banks that must hold extra capital from 2016 because of their size and reach, the Financial Stability Board (FSB) said on Monday. Icahn spoke again with Apple's Cook on stock buyback: CNBC NEW YORK (Reuters) - Activist investor Carl Icahn has spoken with Apple Inc. Chief Executive Tim Cook again to discuss a potential stock buyback, cable television network CNBC reported on Monday. U.S. should get mortgage firm data for probe, judge says (Reuters) - A federal judge on Monday recommended that a large firm that reviewed mortgages for Wall Street banks turn over e-mails and other data that may help the government decide which banks to sue for packaging shoddy mortgages into securities that fueled the financial crisis. Related Video Golden opportunity for shoe shoppers Europe, U.S. resume trade talks Economic News Global Economy: Surprise tactics sweep central banking Yellen to prevail over Fed critics at Senate hearing A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend