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Tuesday, September 18, 2012

Business Today: Wall Street ends flat to lower as FedEx outlook drags

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09/18/2012
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
Wall Street ends flat to lower as FedEx outlook drags
NEW YORK (Reuters) - Stocks ended flat to slightly lower on Tuesday after bellwether FedEx cut its profit forecast and investors pulled back after last week's rally on central bank stimulus.
Fed's focus on jobs will not waver, officials say
ANN ARBOR, Mich./FLORHAM PARK, New Jersey (Reuters) - The Federal Reserve will not waver from its aggressive policy stance when one of its two bond-buying programs expires at year end, and it is prepared to do even more to get Americans back to work, two Fed officials said on Tuesday.
Exclusive: Blackstone nears deal to buy Vivint - sources
NEW YORK (Reuters) - Blackstone Group LP is nearing an agreement to buy home security firm Vivint, according to three people familiar with the matter, in a deal that is expected to value the company at as much as $2 billion.
Goldman names Schwartz to CFO role as Viniar retires
(Reuters) - Goldman Sachs Group Inc Chief Financial Officer David Viniar will retire at the end of January, to be replaced by Harvey Schwartz, who is now global co-head of securities, the investment bank said on Tuesday.
RIM shares rise on Microsoft file technology license deal
TORONTO (Reuters) - Research In Motion's shares jumped on Tuesday after it signed a patent licensing deal with Microsoft Corp to use one of the technology company's file storage systems.
China's Alibaba buys back half of Yahoo's stake
(Reuters) - China's Alibaba Group said it bought back half the stake Yahoo Inc owned in the company for about $7.6 billion, moving closer to an initial public offering.
Ex-UBS trader "obfuscated" accounts for weeks, court hears
LONDON (Reuters) - Former UBS trader Kweku Adoboli used "obfuscation" to deflect weeks of questions from the bank's accountants about why his trading books did not balance, allowing him to keep making risky unauthorized deals, a London court heard on Tuesday.
Home lending hit 16-year low in 2011: regulators
WASHINGTON (Reuters) - The volume of home lending dropped 10 percent last year to the lowest level since 1995, highlighting the government's uphill battle to prop up the still-struggling housing sector.
California court overturns $5 million ruling against Morgan Stanley
(Reuters) - A California court overturned a nearly $5 million securities arbitration ruling against Morgan Stanley Smith Barney in a case filed by two brokers who said the company broke promises it made when recruiting them.
Investors flock to Russia's $5 billion Sberbank stake sale
MOSCOW (Reuters) - Russia's sale of a $5 billion stake in Sberbank drew strong demand from investors around the world, attracted by the lender's dominant position on the growing domestic market and potential to expand across emerging European economies.
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