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Wednesday, October 10, 2012

Business Today: Blue chips Chevron, Alcoa lead Wall Street's sell-off

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10/10/2012
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
Blue chips Chevron, Alcoa lead Wall Street's sell-off
NEW YORK (Reuters) - The S&P 500 fell for a fourth day on Wednesday, weighed down by disappointing news from Chevron and Alcoa as earnings season got under way.
EADS, BAE call off world's biggest arms merger
PARIS/BERLIN/LONDON (Reuters) - EADS and BAE Systems called off the world's largest defense and aviation merger on Wednesday, and pinned the blame on Germany for wrecking the $45 billion deal.
JPMorgan CEO says he should have caught "London whale" trades
WASHINGTON (Reuters) - The chief executive of JPMorgan Chase & Co said he should have caught the "London whale" derivatives trades that resulted in a multibillion-dollar loss for the bank.
Cengage, Bain, Apollo eye McGraw-Hill unit: sources
NEW YORK (Reuters) - McGraw-Hill Companies Inc's education unit is expected to draw final bids from private equity firms Bain Capital and Apollo Global Management as well as rival Cengage Learning Inc, in a deal that could fetch around $3 billion, several people familiar with the matter said.
Exclusive: EBay tests deals on services, takes on Groupon
(Reuters) - EBay Inc has been quietly testing an online marketplace for deals on local services, expanding into a multibillion- dollar market currently led by Groupon Inc.
U.S. job openings edge lower, quits hold steady
WASHINGTON (Reuters) - The number of U.S. job openings fell slightly in August, a troubling sign for a labor market that is recovering at a painfully slow pace.
Wholesale inventories up; sales post gain
WASHINGTON (Reuters) - Wholesale inventories rose as expected in August while sales at wholesalers posted the first gain after three consecutive months of decline, according to government data released on Wednesday.
Toyota to recall 7.4 million vehicles over power window glitch
TOKYO (Reuters) - Toyota Motor Corp said it would recall more than 7.4 million vehicles worldwide as a faulty power window switch was a potential fire hazard, the latest in a series of setbacks that have dented the reputation of Japan's biggest automaker.
Yum says equipped to navigate China's "ups and downs"
(Reuters) - Yum Brands Inc expects to continue delivering consistent performance in China - its biggest market for sales and operating profit - despite economic uncertainty there, the restaurant company's chief executive said on Wednesday.
Wal-Mart stock hits new high as U.S. strength continues
(Reuters) - Wal-Mart Stores Inc touted strong sales at its U.S. grocery stores and a big start to holiday layaway sales on Wednesday, helping to send shares of the world's largest retailer to an all-time high.
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