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Tuesday, January 7, 2014

Before the Bell: U.S. trade deficit smallest in four years

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01/7/2014

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

U.S. trade deficit smallest in four years

WASHINGTON (Reuters) - The U.S. trade deficit was the smallest in four years in November as exports hit a record high and weak oil prices restrained import growth, the latest evidence of strengthening economic fundamentals.

Futures up after string of losses, German data supports

NEW YORK (Reuters) - U.S. stock index futures rose on Tuesday as upbeat data out of Germany helped the S&P 500 rebound after three days of losses.

Apple reports $1 billion app sales in Dec, $10 billion for 2013

NEW YORK (Reuters) - Apple Inc said on Tuesday that its customers spent $1 billion on purchases in its applications store in December, leading to a total of $10 billion worth of apps sold in 2013.

In trimming QE, low inflation a cause for caution: Fed's Rosengren

HARTFORD, Connecticut (Reuters) - One of the most dovish U.S. central bankers on Tuesday said the economy remains vulnerable the longer inflation remains too low, and he again warned that policy stimulus should be removed "only gradually."

Lilly forecasts 2014 profit in line with estimates

(Reuters) - Eli Lilly and Co on Tuesday forecast its profit will fall by up to one-third this year, as cheaper generic forms of its Zyprexa schizophrenia treatment and Cymbalta depression drug hurt results, but the outlook was in line with expectations.

U.S. urges Europe to take more action on bank backstops

PARIS (Reuters) - The United States would like to see Europe go further towards building backstops to prop up failed banks, U.S. Treasury Secretary Jack Lew said on Tuesday in Paris.

Samsung Electronics sparks dividend debate after big worker bonus

SEOUL (Reuters) - Samsung Electronics Co Ltd, the world's largest smartphone maker, has reignited shareholder calls for more returns after splashing out on a special employee bonus estimated at nearly $1 billion.

China to try to make local, national GDP stats match amid skepticism

BEIJING (Reuters) - China will unify the way it calculates provincial economic output to help close a gap with national figures, the country's chief statistician said on Tuesday, amid skepticism about the reliability of Chinese data.

Bank of America Merrill Lynch shuts European power, gas desk

LONDON (Reuters) - Bank of America Merrill Lynch has closed its European power and gas desk following low demand for power and gas hedging and regulatory changes, a company spokesperson said on Tuesday.

GM sells record number of vehicles in China in 2013

BEIJING (Reuters) - General Motors Co and its Chinese joint ventures sold a record 3.16 million vehicles in China in 2013, an 11.4 percent increase from a year earlier, the U.S. automaker said on Tuesday.