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Wednesday, January 15, 2014

Daily Investor Briefing: S&P 500 closes at record on bank...

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01/15/2014

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

S&P 500 closes at record on bank earnings, data

NEW YORK (Reuters) - U.S. stocks rose on Wednesday, with the S&P 500 climbing to an all-time closing high after strong earnings from Bank of America and data signaled that the economy was improving.

Deutsche, Citi feel the heat of widening FX investigation

LONDON (Reuters) - Global investigations into alleged currency market manipulation intensified on Wednesday as U.S. regulators descended on Citigroup's London offices and Deutsche Bank suspended several traders in New York, sources told Reuters.

Apple to refund at least $32.5 million in disputed kids' app purchases

WASHINGTON (Reuters) - Apple Inc will refund consumers at least $32.5 million to settle a longstanding complaint that the technology company billed U.S. consumers for charges incurred by children through mobile apps without their parents' consent.

U.S. economy expanding at a moderate pace: Fed

WASHINGTON (Reuters) - The U.S. economy continued to grow at a moderate pace from late November through the end of 2013, with some regions of the country expecting a pick-up in growth, the Federal Reserve said on Wednesday.

Bank of America fourth-quarter profit jumps as bank shakes off financial crisis

(Reuters) - Bank of America Corp said on Wednesday quarterly profit surged by nearly $3 billion as revenue increased and mortgage losses plunged, the clearest sign yet the bank was shaking off the impact of the financial crisis.

J.C. Penney to shed 33 stores, cut 2000 jobs as part of turnaround

NEW YORK (Reuters) - J.C. Penney Co Inc said on Wednesday it will close 33 underperforming stores and cut 2,000 jobs as part of its turnaround.

NYSE says it would take over Nasdaq stock quote system

NEW YORK (Reuters) - NYSE Euronext offered on Wednesday to take over the data processor at the center of the massive Nasdaq trading outage last August after Nasdaq OMX Group Inc indicated it would stop running it.

U.S. producer prices advance, but inflation still tame

WASHINGTON (Reuters) - U.S. producer prices recorded their largest gain in six months in December as the cost of gasoline rebounded strongly, but there were few signs of any sustained price pressures.

Early holidays point to grim outlook for China's small factories

DONGGUAN/KUNSHAN, China (Reuters) - Scores of factories in China's manufacturing heartlands have closed earlier than usual for the country's biggest annual holiday due to weak orders and rising costs, workers and owners say, suggesting a rocky outlook for a key sector of the economy.

Analysis: BP's U.S. Gulf oil spill settlement challenges may backfire

(Reuters) - A year after agreeing to a multi-billion dollar settlement with victims of the 2010 Gulf oil spill, BP is aggressively challenging terms of the deal in a legal strategy that could backfire with the judge who will rule on the company's potentially hefty federal fines.