The Other Side of Life 24/7: Daily Investor Briefing: Dow, S&P end higher, but Apple sinks...

Wednesday, December 5, 2012

Daily Investor Briefing: Dow, S&P end higher, but Apple sinks...

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12/5/2012

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

Dow, S&P end higher, but Apple sinks Nasdaq in wild day

NEW YORK (Reuters) - A volatile trading session ended with stocks mostly higher on Wednesday, even as Apple, the most valuable company in the United States, suffered its worst day of losses in almost four years.

Both sides dig in on "fiscal cliff," but "nothing going on"

WASHINGTON (Reuters) - Republicans and Democrats dug in on "fiscal cliff" talks on Wednesday, with both sides urging quick action but offering no compromises in a political stare-down that shows no signs of breaking.

SEC charges Wells Fargo banker, nine others in insider-trading case

WASHINGTON (Reuters) - U.S. securities regulators on Wednesday charged a Wells Fargo investment banker and nine others for their alleged role in an insider-trading ring that earned more than $11 million by trading on tips about impending mergers.

More shoppers on Thanksgiving vs Friday: Reuters/Ipsos

(Reuters) - Opening their doors and offering sales on Thanksgiving did more than give retailers an early start to the holiday shopping season - the holiday actually may have drawn more shoppers than "Black Friday."

U.S. aerospace industry sees 10th straight growth year

WASHINGTON (Reuters) - U.S. aerospace and arms companies are poised for 2.8 percent overall sales growth next year to about $224 billion, which would mark their 10th straight year of growth, barring steep Pentagon budget cuts, the industry's chief trade group said on Wednesday.

Airlines launch drive for national airline policy

WASHINGTON (Reuters) - U.S. airline company executives, complaining that their industry is over-taxed and over-regulated, on Wednesday called for a national airline policy to help them shore up profits and jobs.

Citigroup cutting 11,000 jobs, taking $1 billion in charges

(Reuters) - Citigroup Inc, which has lagged behind its peers in recovering from the financial crisis, said it is cutting 11,000 jobs worldwide, about 4 percent of its staff, to save as much as $1.1 billion a year in expenses.

GM China chief hints at GM joining forces with China's SAIC in SE Asia

SHANGHAI (Reuters) - General Motors Co's new China chief downplayed concerns over the health of its relationship with Chinese partner SAIC Motor Corp, insisting they are growing closer as they look to use their business model in Southeast Asia to tap demand for no-frills cars.

Freeport makes $9 billion energy bet; Wall Street pans deal

(Reuters) - Freeport-McMoRan Copper & Gold Inc struck a deal to buy Plains Exploration & Production Co and McMoRan Exploration Co for $9 billion in a bold bid to diversify into the U.S. energy sector as copper's prospects wane.

Storm hits hiring in November but service sector grows

NEW YORK (Reuters) - Private-sector hiring took a hit in November due to the impact of storm Sandy on the northeastern United States but the country's huge services sector continued to expand.