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Tuesday, December 3, 2013

Business Today: Dow, S&P fall for third straight day; retail weighs

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12/3/2013
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Dow, S&P fall for third straight day; retail weighs
NEW YORK (Reuters) - The Dow and the S&P 500 fell for a third straight day on Tuesday, dropping from record levels in a broad decline as investors took profits amid signs of a weak holiday shopping season.
Sturdy jobs report eyed, may put December Fed taper on table
WASHINGTON (Reuters) - U.S. job growth likely remained solid in November, with the unemployment rate falling, which could bring the Federal Reserve a step closer to curtailing its massive monetary stimulus.
EU readies multi-million euro benchmark rigging fines: sources
BRUSSELS (Reuters) - EU antitrust regulators will impose record multi-million euro fines on six banks including Citigroup, Deutsche Bank and Royal Bank of Scotland on Wednesday for rigging key interest rate benchmarks, sources said.
Fed should give more detail on rate hike plans: Williams
SAN FRANCISCO (Reuters) - Concerned that investors are still not getting the Federal Reserve's message that interest rates will stay low even after the Fed stops buying bonds, a top official of the U.S. central bank on Tuesday called for the Fed to provide more details soon on what would lead it to eventually raise interest rates.
Convicted ex-Tyco CEO Kozlowski to be freed on parole
NEW YORK (Reuters) - Dennis Kozlowski, the former Tyco International Ltd chief executive who went to prison for looting the company of more than $100 million, was granted parole Tuesday, according to New York state officials.
UK, trade groups tell US court ban against BP unfair
HOUSTON (Reuters) - The U.S. Environmental Protection Agency may have been too harsh when it banned BP Plc from lucrative federal contracts as punishment for its 2010 Macondo oil spill, the UK and prominent business groups said on Tuesday.
Auto sales rise in November, boosted by discounts
DETROIT (Reuters) - Major automakers reported their best U.S. sales month in six and a half years in November as aggressive discounting and the continued popularity of big pickup trucks helped trounce Wall Street forecasts.
U.S. swaps regulator plans December 10 Volcker rule vote
WASHINGTON (Reuters) - Wall Street banks will finally get clarity about a controversial ban on betting with their own money, as the U.S. Commodity Futures Trading Commission announced a meeting for next week to vote on the so-called Volcker rule.
Iran's Indian bank looks to life after sanctions windfall
MUMBAI (Reuters) - An obscure Indian bank has been an unlikely beneficiary of Western sanctions against Iran, handling billions of dollars from frozen oil payments that boosted its interest margins, but is now having to prepare itself for life after the windfall.
Early deals dilute Thanksgiving weekend sales: ShopperTrak
(Reuters) - U.S. retailers rolled out holiday promotions earlier in November this year, denting sales growth over the Thanksgiving weekend that typically marks the beginning of the holiday spending period, according to data released on Tuesday by ShopperTrak.
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