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Tuesday, January 14, 2014

Business Today: Retail sales, inventory data suggest strong fourth-quarter growth

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01/14/2014
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Retail sales, inventory data suggest strong fourth-quarter growth
WASHINGTON (Reuters) - U.S. retail sales edged up in December with a core spending gauge posting a big jump, a sign the economy gathered steam at the end of last year and was poised for stronger growth in 2014.
Wall Street rebounds as sales point to healthy economy
NEW YORK (Reuters) - U.S. stocks rose on Tuesday, erasing much of the previous session's steep drop, after as a strong December retail sales reading eased concerns about a slowdown in the economy.
Intel shelves cutting-edge Arizona chip factory
SAN FRANCISCO (Reuters) - Intel Corp , hit by slumping personal computer sales, has put off opening a major chip factory that President Barack Obama once held up as an example of U.S. manufacturing potential.
Exclusive: Nasdaq pushes to speed up talks over market fixes
NEW YORK (Reuters) - Nasdaq OMX Group is prepared to walk away from running the data processor that was at the center of a three-hour trading halt in August, in a sign of its frustration with the pace of talks over implementing fixes for the system, according to documents seen by Reuters.
Ford CEO eyes long view, but still engaged in day to day
DETROIT (Reuters) - Alan Mulally, credited with reviving Ford Motor Co's fortunes, emphasized on Tuesday that he remains deeply engaged in day-to-day operations as well as setting the second-largest U.S. automaker's long-term strategy.
Charter touts benefits of offer for Time Warner Cable
(Reuters) - Charter Communications expects annual synergies of $500 million and other benefits such as tax savings from its proposed acquisition of Time Warner Cable, the company said in an investor presentation posted on its website Tuesday.
Fed considers new limits on banks in physical commodity trade
NEW YORK/WASHINGTON (Reuters) - The U.S. Federal Reserve on Tuesday took a first formal step toward restricting the role of Wall Street banks in physical commodities markets, seeking feedback on ways to limit the "catastrophic" risks of dealing with oil tanks or power plants.
JPMorgan profit hit by Madoff, weaker investment banking
(Reuters) - JPMorgan Chase & Co posted a 7.3 percent decline in quarterly profit on Tuesday, as legal woes and weak demand for investment banking services capped off a tough year for Chief Executive Jamie Dimon.
Tesla demand surges, stock rises 12 percent
DETROIT (Reuters) - Electric car maker Tesla Motors Inc said on Tuesday deliveries of its Model S sedan in the fourth quarter blew past what the company had forecast, sending shares up 12 percent.
Monte Paschi board says CEO to stay on
MILAN (Reuters) - The board of Monte dei Paschi di Siena has unanimously confirmed its faith in CEO Fabrizio Viola despite him being forced to delay a crucial capital increase, the bank said on Tuesday.
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