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Wednesday, December 18, 2013

Business Today: Fed cuts bond buying but stresses easy policy

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12/18/2013
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
Fed cuts bond buying but stresses easy policy
WASHINGTON (Reuters) - The U.S. Federal Reserve trimmed its aggressive bond-buying program on Wednesday but sought to temper the long-awaited move by suggesting its key interest rate would stay at rock bottom even longer than previously promised.
SAC's Steinberg found guilty of insider trading
NEW YORK (Reuters) - Michael Steinberg, a top portfolio manager at Steven A. Cohen's SAC Capital Advisors hedge fund, was found guilty on Wednesday of charges that he traded on insider information.
Dow, S&P end at record highs after Fed's stimulus cut
NEW YORK (Reuters) - The Dow and the S&P 500 closed at all-time highs on Wednesday after the Federal Reserve announced a small reduction in its stimulus program, confirming that the U.S. economy was on firm footing.
Robust U.S. housing data point to strengthening economy
WASHINGTON (Reuters) - U.S. housing starts surged to their highest in nearly six years in November, a sign of strength in the economy that underscores the Federal Reserve's decision to start cutting back its monthly bond purchases.
Exclusive: Dish eyes 2014 bid for T-Mobile - sources
(Reuters) - Dish is considering making a bid for T-Mobile next year, according to people close to the matter, in what would be the satellite TV provider's second attempt in as many years at acquiring a major wireless operator and potentially setting the stage for a new bidding war with Softbank .
Facebook, Zuckerberg, banks must face IPO lawsuit: judge
NEW YORK (Reuters) - Facebook Inc, Chief Executive Mark Zuckerberg and dozens of banks must face a lawsuit accusing the social media company of misleading investors about its health before its $16 billion initial public offering, a federal judge said.
FedEx second-quarter profit misses estimate; offers holiday optimism
(Reuters) - FedEx Corp posted a 14 percent rise in quarterly profit on Wednesday on stronger margins and cost cuts, but results missed Wall Street estimates, which overshadowed the company's confident forecast for the holiday shopping season.
Abe labor reforms may boost Japan's 'disposable' workers, crimp wages
TOKYO (Reuters) - Yumiko Kajiwara is a cheerful 46-year-old who has had several part-time jobs, including sorting clothes, cosmetics and cellphone parts at a Tokyo warehouse. She also represents a challenge to Prime Minister Shinzo Abe.
Exclusive: Goldman's Michael Foods seeks $2 billion-plus sale - sources
NEW YORK (Reuters) - Michael Foods Group Inc, a producer and distributor of egg and dairy products owned by Goldman Sachs Group Inc's private equity arm, is exploring a sale that could fetch more than $2 billion, according to people familiar with the matter.
Chevrolet marketing boss Chris Perry resigns
(Reuters) - The ongoing upheaval in General Motors Co's executive ranks continued on Wednesday with the sudden resignation of Chris Perry as vice president of Chevrolet marketing.
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