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Wednesday, November 7, 2012

Business Today: Obama, fresh from re-election, has little time to savor win

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11/7/2012
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
Obama, fresh from re-election, has little time to savor win
WASHINGTON (Reuters) - Fresh from a decisive re-election win, President Barack Obama returns from the campaign trail on Wednesday with little time to savor victory, facing urgent economic and fiscal challenges and a still-divided Congress capable of blocking his every move.
Stock futures drop after Obama reelection, Draghi gloom on economy
NEW YORK (Reuters) - Stock index futures were set for a lower open on Wednesday in the wake of Barack Obama's reelection as U.S. president as comments by European Central Bank President Mario Draghi underscored the weakness in Europe's economy.
AT&T to invest $14 billion to expand wireless, wireline networks
NEW YORK (Reuters) - AT&T Inc said on Wednesday that it would invest an additional $14 billion over three years to expand its wireless and wireline networks.
Kraft third-quarter profit rises, affirms outlook
(Reuters) - Kraft Foods Group Inc reported higher third-quarter profit on Wednesday, citing help from new products, increased advertising and productivity gains.
Macy's profit rises, company raises forecast
(Reuters) - Macy's Inc on Wednesday reported a higher third-quarter profit, helped by sales gains, and raised its full-year profit outlook.
Ford may cut more Europe jobs if slump deepens
BERLIN (Reuters) - Ford Motor Co may scrap more plants and lay off more workers in Europe as the euro zone debt crisis continues to exacerbate the auto sector's overcapacity.
Time Warner posts higher third-quarter profit
(Reuters) - Time Warner Inc posted a higher third-quarter profit on Wednesday as growth in its cable networks offset declines in its film and TV entertainment business.
Exxon tells Iraq wants to quit huge oil project
BAGHDAD (Reuters) - Exxon Mobil has officially informed Iraq's government it wants to pull out of a $50 billion oil project, telling Baghdad in a letter it has started talks with other oil companies to sell its stake, senior Iraqi officials said.
Morgan Stanley selling its Indian private bank: sources
SINGAPORE/MUMBAI (Reuters) - Morgan Stanley has launched the sale of its India private wealth management unit, which manages about $1 billion including loans, after entering the highly fragmented and competitive market just four years ago, sources with knowledge of the matter said.
Molson Coors profit beats expectations
(Reuters) - Molson Coors Brewing Co reported a higher-than-expected quarterly profit on Wednesday helped by the acquisition of operations in Eastern Europe.
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