The Other Side of Life 24/7: Daily Investor Briefing: Microsoft's slide hits tech shares,...

Tuesday, November 13, 2012

Daily Investor Briefing: Microsoft's slide hits tech shares,...

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11/13/2012

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

Microsoft's slide hits tech shares, but retailers gain

NEW YORK (Reuters) - Stocks sold off late in the session on Tuesday led by a slide in Microsoft shares, though retailers were a notable bright spot after Home Depot raised its outlook.

Budget deficit rises to $120 billion in October

WASHINGTON (Reuters) - The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.

Exclusive: Peugeot and Opel halt talks on further tie-up

LONDON/FRANKFURT/PARIS (Reuters) - General Motors and alliance partner PSA Peugeot Citroen have halted talks on a deeper tie-up amid misgivings about the French carmaker's worsening finances and government-backed bailout, people familiar with the matter said.

"Fiscal cliff" already affecting U.S. economy: BofA CEO

(Reuters) - Fiscal brinkmanship in Washington is already affecting the U.S. economy as worried businesses invest less in equipment, Bank of America Corp Chief Executive Brian Moynihan said.

Cisco first quarter EPS, revenue beat Street

(Reuters) - Cisco Systems Inc reported higher quarterly revenue and earnings that beat average analyst estimates.

Best Buy sets long-term targets, aims for stable sales

(Reuters) - Best Buy Co Inc is targeting an operating margin of 5 to 6 percent over time, the company said on Tuesday, as its new chief executive unveiled plans to turn around the world's largest consumer electronics chain.

Exclusive: Wells names firm veteran to lead private client group

(Reuters) - Wells Fargo Advisors, one of the biggest U.S. brokerage firms, said it has tapped company veteran David Kowach to take charge of its private client group, the company said Tuesday.

UK regulator to probe HSBC

JERSEY (Reuters) - Jersey's financial watchdog is to probe anti-money laundering systems and controls at HSBC, following a report that Europe's biggest bank was harboring money for convicted criminals.

At insider trading trial, U.S. says motive was to "make big money"

NEW YORK (Reuters) - Two former hedge fund managers reaped $70.8 million in illegal profits by tapping a "corrupt network" of Wall Street analysts, a U.S. prosecutor said at the start of their insider trading trial on Tuesday.

AMF Bowling files for bankruptcy again

(Reuters) - AMF Bowling Worldwide Inc, the world's largest bowling alley operator, on Tuesday filed for bankruptcy protection for the second time in 12 years, saying recent economic weakness has cost it business and left it with an unmanageable debt burden.