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Tuesday, October 16, 2012

Reuters Money: EU deserves Nobel for literature: James Saft

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10/16/2012
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
EU deserves Nobel for literature: James Saft
(Reuters) - Rather than peace, or even, at a stretch, economics, perhaps the European Union should get a Nobel Prize in literature, as it is a work of imagination, creation, and, at least for a time, the suspension of disbelief.
Gasoline fuels inflation, but Fed policy seen steady
WASHINGTON (Reuters) - U.S. consumer prices rose in September as the cost of gasoline surged, posing a threat to consumers' spending power although inflation pressures look unlikely to derail the Federal Reserve's ultra-easy policy path.
Citigroup CEO Vikram Pandit resigns
(Reuters) - Citigroup Inc Chief Executive Vikram Pandit has resigned, effective immediately, a shock change at the top of the bank just one day after surprisingly strong quarterly results.
Goldman Sachs revenue more than doubles on investment gains
(Reuters) - Goldman Sachs Group Inc reported a third-quarter profit, reversing a year-earlier loss, as revenue more than doubled due to gains in stocks and bonds the investment bank holds as investments.
German winter shows Achilles heel of renewables: Wynn
LONDON (Reuters) - The extreme variability of wind and solar power in Germany is laid bare by 2012 data that also illustrates a particular vulnerability when power demand surges on cold winter days - they are often both weak at the same time.
Global funds buy more stocks, fear U.S. fiscal cliff: BofA poll
LONDON, Oct 16 Reuters) - Global investors bought more stocks in October as growth expectations improved and worries over the EU crisis receded, with U.S. investors turning overweight local banks for the first time in six years, a fund managers' survey showed on Tuesday.
Hard times at brokerages spell good times for headhunters
NEW YORK (Reuters) - Veteran brokers are defecting from Wall Street's biggest banks this year at an unusually high clip, and the turmoil has created a silver lining for one group: headhunters.
Coca-Cola's revenue misses Wall Street expectations
(Reuters) - Coca-Cola Co reported quarterly revenue that came in short of Wall Street expectations on Tuesday, hurt by declines in Europe and Asia where it sold more lower-priced drinks.
Amazon to hire more than 50,000 for holiday season
(Reuters) - Online retail giant Amazon.com Inc said it will hire more than 50,000 seasonal employees at its fulfillment centers across the United States, as the company and its rivals gear up for the winter holiday season.
Ex-NBA star says fight with brokerage worse than facing Shaq
(Reuters) - Former NBA all star Horace Grant said facing 7-foot-1, 325-pound Shaquille O'Neal on the basketball court would be preferable to the years-long legal struggle he has waged to collect $1.46 million that securities arbitrators say a brokerage owes him.
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