Business Today: Wall Street sinks after election as "fiscal cliff" eyed

	Click to View in Browser 11/7/2012 Wall Street sinks after election as "fiscal cliff" eyed NEW YORK (Reuters) - The Dow industrials lost more then 300 points in a sell-off on Wednesday that drove all major stock indexes down over 2 percent in the wake of the presidential election as the looming "fiscal cliff" debate and Europe's economic troubles returned to the forefront. Wall Street left to rebuild Obama ties after backing Romney (Reuters) - Wall Street firms gambled on Mitt Romney and lost. Obama, buoyed by election win, faces new battles WASHINGTON (Reuters) - President Barack Obama had little time to savor victory on Wednesday after voters gave him a second term in the White House where he faces urgent economic challenges, a looming fiscal showdown and a still-divided Congress able to block his every move. Boeing shakes up defense business, cuts management jobs WASHINGTON (Reuters) - Boeing Co said Wednesday it will restructure its defense, space and security business and cut 30 percent of management jobs from 2010 levels as part of a cost-cutting drive. Goldman urges court to require arbitration in gender bias case NEW YORK (Reuters) - A lawyer for Goldman Sachs urged a U.S. appeals court Wednesday to send a former employee's gender discrimination dispute to arbitration rather than allow her to proceed with a proposed class action. Nike tells U.S. Supreme Court: Enough, Already WASHINGTON (Reuters) - Nike Inc urged the U.S. Supreme Court on Wednesday to make a lawsuit by a smaller rival go away with one big swoosh. U.S. trade panel approves five-year duties on China solar products WASHINGTON (Reuters) - The United States gave final approval on Wednesday to duties on billions of dollars of solar-energy products from China for the next five years, protecting U.S. producers against lower-priced imports and raising fears of Chinese retaliation. AT&T to boost annual spending 16 percent to $22 billion (Reuters) - AT&T Inc will boost capital spending by about 16 percent to $22 billion a year for the next three years to fund upgrades to its wireless and wireline networks, the company said on Wednesday. UBS takes back some traders on leave amid overhaul: sources LONDON (Reuters) - UBS AG has brought back several employees who were put on leave when it unveiled a drastic pullback from fixed income last week, and more could follow, sources familiar with the situation said. Apollo's Black sees private equity tax break in jeopardy PARIS (Reuters) - Apollo Global Management Chief Executive Leon Black said on Wednesday that a U.S. tax break that benefits private equity and venture capital executives could fall victim to deficit reduction efforts after President Barack Obama's re-election. Related Video Wealth Strategies: Stocks say markets wanted a surprise Breakingviews: Obama's mandate Economic News Election over, Obama, Boehner set to renew fiscal battle Senate Democrats won't "mess with Social Security": Reid 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