Archive for December, 2009

Wall St closes out ‘09 with best gains since 2003

NEW YORK (Reuters) – U.S. stocks ended 2009 on Thursday with their best gains since 2003, driven by optimism about the economy’s recovery and a brighter outlook for profits.

Time Warner Cable, Fox at impasse; blackout looms

NEW YORK (Reuters) – About 13 million Time Warner Cable Inc subscribers were to lose most Fox programing at midnight on Thursday unless the cable service provider reached a last-minute deal to pay fees to News Corp to broadcast the shows.

Wall Street dips but still set for best year since ‘03

NEW YORK (Reuters) – Stocks fell on Thursday, extending earlier losses after a reading on Midwest business growth was revised downward, though it remained in expansionary territory.

Time Warner agrees to cooling-off period

NEW YORK (Reuters) – Time Warner Cable Inc said on Thursday it has agreed to a 30-day cooling-off period in its talks over fees with News Corp.

Latest Jobless Numbers Point Toward a Happy New Year

The recent improvement in several labor barometers adds ammunition to the optimists’ argument about an imminent and long-awaited breakthrough in the labor market. .

Midwest Business Growth Less Than Earlier Thought

Wall Street dips, but eyes best year since 2003

NEW YORK (Reuters) – Stocks dipped on Thursday despite data showing that the number of people filing for jobless benefits fell to the lowest level in about 17 months, with indexes on track for the best yearly gains since 2003.

Jobless claims hit 17-month low

WASHINGTON (Reuters) – The number of U.S. workers filing new applications for jobless benefits unexpectedly fell last week to the lowest level in about 17 months, suggesting the economy might be on the cusp of job creation.

Banking after the kindness of strangers

Francesco Guerrera predicts what 2010 holds in store for US finance in the first year after the great banking bailout of 2009

US jobless claims fall to 17-month low

First-time claims for unemployment benefits fell to the lowest level since July 2008 last week as US businesses backed off from firings at the end of the year

S&P futures edge up on last day of year

NEW YORK (Reuters) – S&P 500 index futures edged higher on Thursday as investors awaited data on the health of the hobbled labor market, which poses a potential hurdle for the nascent economic recovery.

AIG Executive Resigns Over Pay Limits

A top executive at American International Group has resigned because of pay curbs imposed by the Obama Administration’s pay czar, the insurer said on Wednesday.

Asia stocks end 2009 with 68 percent gain

HONG KONG (Reuters) – Asia stocks rose on Thursday, racking up a 68 percent gain for the year, as a jump in U.S. consumer confidence reinforced views that the world’s largest economy is gradually recovering.

Wall St ends a tad higher; Dow, Nasdaq at ‘09 highs

NEW YORK (Reuters) – U.S. stocks ended a smidgen higher in very light trading on Wednesday as a stronger-than-expected report on Midwest U.S. business activity was offset by investors taking profits in some of the year’s better performers.

Treasury to dole out $3.8 billion to GMAC, raise stake

WASHINGTON (Reuters) – The U.S. is injecting another $3.8 billion into GMAC Financial Services to help cover mortgage losses, in a bailout that makes the government the majority owner of the auto and home finance company.

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