The Other Side of Life 24/7: Daily Investor Briefing: Budget talk optimism spurs Wall...

Monday, November 19, 2012

Daily Investor Briefing: Budget talk optimism spurs Wall...

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11/19/2012

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

Budget talk optimism spurs Wall Street rally

NEW YORK (Reuters) - Stocks bounced higher for a second consecutive session on Monday as investors were encouraged by the early atmosphere surrounding talks to tackle the nation's fiscal crunch.

Hostess, union agree to mediation at judge's urging

WHITE PLAINS, New York (Reuters) - Hostess Brands Inc agreed in court on Monday to enter private mediation with its lenders and leaders of a striking union to try to avert the liquidation of the maker of Twinkies snack cakes and Wonder Bread.

Lowe's efforts to cut costs, spur sales paying off

(Reuters) - Lowe's Cos Inc's reported a higher-than-expected quarterly profit on Monday in a sign its efforts to cut costs and improve its selection of home improvement items are working.

Intel CEO to retire as chipmaker struggles with mobile

SAN FRANCISCO/NEW YORK (Reuters) - Intel Corp's Chief Executive Officer Paul Otellini will retire sooner than expected and the top chipmaker said it may name an outsider for the position for the first time to steer a difficult transition toward mobile computing.

Nasdaq CEO calls on Washington to rediscover compromise

WASHINGTON (Reuters) - Washington needs to rediscover its ability to compromise and commit to a long-term plan to reduce the nation's debt, the head of the country's second-largest stock exchange said on Monday, warning that lawmakers are flirting with disaster.

JPMorgan names insider Marianne Lake to be new CFO

NEW YORK (Reuters) - JPMorgan Chase & Co has named Marianne Lake, who is currently financial chief of the company's Consumer and Community Banking segment, to become the chief financial officer of the company.

Wal-Mart moves up dividend to avoid "fiscal cliff'

(Reuters) - Wal-Mart Stores Inc on Monday became the biggest corporation yet to move its planned dividend into late December from early January to help shareholders avoid a looming jump in the tax rate due to the so-called fiscal cliff.

Exclusive: Fidelity taps TD Ameritrade exec to lead brokerage

NEW YORK (Reuters) - Fidelity Investments has hired a TD Ameritrade executive to head its brokerage division.

NY Fed wins dismissal of ex-AIG CEO's bailout lawsuit

NEW YORK (Reuters) - The Federal Reserve Bank of New York won the dismissal of former American International Group Inc Chief Executive Maurice "Hank" Greenberg's $25 billion lawsuit accusing it of unlawfully bailing out the insurer during the 2008 financial crisis.

Big U.S. banks give $22 billion under mortgage relief deal

(Reuters) - Five U.S. banks have provided about $22 billion in mortgage relief to customers under a deal to settle borrowers' accusations over foreclosures, a report by the settlement's monitor said on Monday.