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Tuesday, September 17, 2013

Business Today: Wall Street climbs on expectations for modest Fed taper

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09/17/2013
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Wall Street climbs on expectations for modest Fed taper
NEW YORK (Reuters) - U.S. stocks advanced on Tuesday on expectations the Federal Reserve will make only moderate changes to its stimulus that has been highly supportive of stocks and other assets at the conclusion of its two-day meeting.
Exclusive: GM plans to more closely intertwine Buick and Opel brands
DETROIT (Reuters) - Buick customers in the United States and China could see more European design and engineering in an expanded range of new models by 2020, as General Motors Co more closely integrates global product development between Buick and GM's German brand Opel.
U.S. inflation tame, but medical costs and rents pushing up
WASHINGTON (Reuters) - U.S. consumer prices barely rose in August, but rising rents and medical care costs pointed to some stability in underlying inflation that could make the Federal Reserve more comfortable trimming its bond purchases.
Exclusive: Onex looks to sell The Warranty Group - sources
NEW YORK (Reuters) - Canadian private equity firm Onex Corp is preparing to sell The Warranty Group, a provider of extended warranty contracts, which is expected to fetch more than $1 billion, two people familiar with the matter said this week.
U.S. default could start end-October with no debt limit hike - CBO chief
WASHINGTON (Reuters) - The United States could begin defaulting on its obligations between the end of October and the middle of November if Congress fails to increase the $16.7 trillion federal debt limit, Congressional Budget Office director Doug Elmendorf said on Tuesday.
G'day caller: Aussie firms offshore jobs to 'little brother' NZ
SYDNEY/WELLINGTON (Reuters) - When Australian customers of Quickflix ring the online video rental and streaming service's support center, the voice at the other end of the line sounds reassuringly familiar.
Exclusive: Civil settlement does not end JPM's 'Whale' troubles
NEW YORK (Reuters) - U.S. prosecutors are still looking into events surrounding JPMorgan Chase & Co's "London Whale" trading scandal for potential wrongdoing by the bank itself, according to several people familiar with the probe, in a sign that an expected $700 million civil settlement with regulators on the issue may not end its legal woes.
U.S. SEC charges 23 firms in short-sale crackdown; 22 settle
WASHINGTON (Reuters) - Twenty-two investment firms will collectively pay more than $14.4 million in sanctions to settle civil charges in connection with a broad crackdown by federal regulators into illegal short-selling practices, the U.S. Securities and Exchange Commission said on Tuesday.
Boeing's stretched 787-9 Dreamliner makes first flight
SEATTLE (Reuters) - A longer version of Boeing Co's Dreamliner made its first flight on Tuesday, passing a key milestone for a plane that should be more profitable both for Boeing to sell and for its customers to operate than the current production model.
Berlusconi's Fininvest ordered to pay 494 million euros in damages
ROME (Reuters) - The family holding company of former Italian prime minister Silvio Berlusconi was ordered on Tuesday to pay 494 million euros in damages stemming from the disputed purchase of publisher Mondadori.
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