Business Today: Wall Street rallies to snap three-week skid

	Click to View in Browser 02/7/2014 Wall Street rallies to snap three-week skid NEW YORK (Reuters) - U.S. stocks jumped on Friday, giving the S&P 500 its first weekly gain in four as the impact of a weak reading on the labor market was dulled by harsh weather conditions and traders focused on expectations of further economic strength. Moody's cuts Puerto Rico to junk NEW YORK (Reuters) - Moody's on Friday cut Puerto Rico's credit rating to junk status, citing concerns about the fiscally challenged U.S. territory's weak growth and ability to access capital markets. U.S. consumer credit posts biggest jump in 10 months WASHINGTON (Reuters) - U.S. consumer credit in December grew by the most in nearly a year due to a sharp increase in credit card usage, a potentially positive sign for the economy. U.S. hiring struggles to rebound from winter chill WASHINGTON (Reuters) - U.S. job creation slowed sharply over the past two months, turning in the weakest performance in three years and raising the prospect that the economy may be losing momentum. U.S. factories punch above weight with solid job gains WASHINGTON (Reuters) - U.S. manufacturing stayed on solid ground in January, with employers stepping up hiring by adding 21,000 jobs to their payrolls and boosting their labor market share. U.S. Treasury warns could default soon after February 27 WASHINGTON (Reuters) - The Obama administration warned Congress on Friday the federal government could start missing payments on its bills soon after February 27 if lawmakers do not raise a limit on public borrowing. Exclusive: UBS seeks first-mover immunity in U.S. currency probe - sources LONDON (Reuters) - Swiss bank UBS AG approached U.S. authorities in September with information relating to an industry-wide probe into alleged rigging of currency markets, in the hope of gaining antitrust immunity if charged with wrongdoing, sources familiar with the matter told Reuters. U.S. jobless rate forces Yellen's hand on Fed guidance SAN FRANCISCO/NEW YORK (Reuters) - The rapid drop in U.S. unemployment will make re-crafting the Federal Reserve's easy-money promise a top priority for new Chair Janet Yellen, who will probably avoid tying policy to specific targets in the labor market. Apple shareholders should reject Icahn's buyback proposal: proxy advisor SAN FRANCISCO (Reuters) - Proxy advisory firm Egan-Jones advised Apple Inc shareholders on Friday to reject activist investor Carl Icahn's demand that the iPhone maker expand its stock buyback program, a proposal that will be put to a vote this month. Yahoo shifts Europe tax base to Ireland from Switzerland LONDON/ROME (Reuters) - Yahoo! Inc is shifting its main European tax base to Ireland from Switzerland, a Reuters examination of company statements and accounts shows, as pressure mounts on the Alpine nation to abolish some corporate tax incentives. Related Video Apple goes on $14b buyback binge African Barrick Gold CEO: It's all about margins Economic News U.S. Treasury warns could default soon after February 27 U.S. consumer credit posts biggest jump in 10 months 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