Business Today: Yellen says Fed has 'more work to do'

	Click to View in Browser 11/13/2013 Yellen says Fed has 'more work to do' WASHINGTON (Reuters) - Janet Yellen, President Barack Obama's nominee to chair the Federal Reserve, said the U.S. central bank has "more work to do" to help an economy and labor market that are still underperforming. Cisco quarterly revenue misses expectations, shares fall NEW YORK (Reuters) - Network equipment maker Cisco Systems Inc said on its quarterly revenue rose less than expected due to weak demand in emerging markets, the United States and areas such as Southern Europe. $100 billion Boeing order bonanza to dominate Dubai show DUBAI/PARIS (Reuters) - Boeing looks set to dominate next week's Dubai Airshow with more than $100 billion of deals as it aims to launch its latest long-haul jet with up to 250 potential orders from as many as five airlines, industry sources said. Starbucks says $2.76 billion Kraft split was necessary (Reuters) - Starbucks Corp on Wednesday said breaking up with Kraft was hard to do, but worth the high price, after an arbitrator ruled it must pay a whopping $2.76 billion for ending the companies' grocery coffee partnership early. Apple, Samsung retrial kicks off over patent damages SAN JOSE, California (Reuters) - Apple squared off against Samsung Electronics at a damages retrial on Wednesday, as the iPhone maker once again tries to secure a legal victory against its biggest mobile rival. Ecuador high court upholds Chevron verdict, halves fine QUITO (Reuters) - Ecuador's highest court upheld a verdict that U.S. oil company Chevron Corp is responsible for pollution in an Amazon rainforest, but halved the fine imposed in a previous trial to $9.5 billion, a decision the company dismissed as illegitimate. Dow, S&P end at record highs as Macy's lifts Wall Street NEW YORK (Reuters) - The Dow and the S&P 500 closed at record highs on Wednesday after Macy's strong results relieved anxiety about how retailers will fare during the holiday season and spurred a rally in consumer discretionary shares. Snapchat rejected $3 billion buyout offer from Facebook: report SAN FRANCISCO (Reuters) - Mobile messaging startup Snapchat rejected an acquisition offer from Facebook Inc that would have valued the company at $3 billion or more, according to a Wall Street Journal report on Wednesday. Abenomics at one year: growth to slow as challenges mount TOKYO (Reuters) - A year after Prime Minister Shinzo Abe took financial markets by storm with promises to end two decades of deflation and tepid growth, the economy is expected to slow sharply, highlighting the challenges facing "Abenomics" in ensuring a durable recovery. Alitalia's board approves revised business plan, cap hike delay ROME (Reuters) - The board of Italian airline Alitalia has approved a revised industrial plan, meant to help make the cash-strapped carrier more profitable, Deputy Chairman Salvatore Mancuso said on Wednesday. Related Video Yellen to be grilled on Fed's next move- Behravesh Yellen will hold her own-Russell Investments Dueker Economic News Yellen says Fed has 'more work to do' U.S. budget deficit narrows in October from year ago 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