Business Today: Twitter shares soar in frenzied NYSE debut

	Click to View in Browser 11/7/2013 Twitter shares soar in frenzied NYSE debut NEW YORK/SAN FRANCISCO (Reuters) - Twitter Inc shares rose 73 percent in a frenzied trading debut that drove the seven-year-old company's value to $25 billion and evoked the heady days of the dot-com bubble. Disney profit rises on theme parks, toy sales LOS ANGELES (Reuters) - Walt Disney Co reported higher profit for the quarter that ended in September, lifted by increased spending from summer visitors at its U.S. theme parks and a rise in sales of toys and other consumer products. U.S. growth picks up as restocking offsets weak spending WASHINGTON (Reuters) - U.S. economic growth accelerated in the third quarter as businesses restocked shelves, but the slowest expansion in consumer spending in two years suggested an underlying loss of momentum. ECB cuts rates to new low, ready to do more if needed FRANKFURT (Reuters) - The European Central Bank cut interest rates to a record low on Thursday and said it could take them lower still to prevent the euro zone's recovery from stalling as inflation tumbles. Taxpayers close to breaking even on Fannie Mae, Freddie Mac bailout WASHINGTON (Reuters) - Government-run Fannie Mae and Freddie Mac, America's biggest providers of housing finance, will send $39.0 billion to the U.S. Treasury in December, leaving them within a hair of covering the cost of their 2008 bailout. S&P 500 suffers worst day since late August; Twitters surges NEW YORK (Reuters) - Frenzied buying in Twitter shares grabbed Wall Street's attention on Thursday, as the social media stock surged well above expectations, while major indexes fell, with the S&P 500 suffering its worst daily decline since August. IBM's CFO Loughridge to retire by year-end (Reuters) - IBM's Chief Financial Officer Mark Loughridge is retiring at the end of the year after almost a decade on the job as the technology services provider struggles with declining revenue and weakness in emerging markets. Groupon quarterly profit beats estimates (Reuters) - Groupon Inc's third-quarter profit beat analysts' estimates as the world's largest daily deals company reported strong growth in North America. U.S. consumer credit up, credit card use falls again WASHINGTON (Reuters) - U.S. consumer credit rose more than expected in September but credit card usage fell for a fourth straight month, which could help shed some light on the slowdown in consumer spending during the third quarter. Activist investor urges Men's Wearhouse to talk to Jos. A Bank (Reuters) - Hedge fund Eminence Capital LLC on Thursday said it has a nearly 10 percent stake in Men's Wearhouse Inc , making it the retailer's largest shareholder, and said the company should start talks with Jos. A. Bank Clothiers Inc , which last month announced an unsolicited bid for its larger rival. Related Video Cadillac gets Motor Trend's top award U.S. sees surprise growth spurt Economic News Taxpayers close to breaking even on Fannie Mae, Freddie Mac bailout U.S. growth picks up as restocking offsets weak spending 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