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Wednesday, November 20, 2013

Business Today: Retail sales beat forecasts, point to firming growth

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11/20/2013
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Retail sales beat forecasts, point to firming growth
WASHINGTON (Reuters) - A gauge of U.S. consumer spending rose more than expected in October as households bought a range of goods, suggesting upside momentum in the economy early in the fourth quarter.
Futures edge higher after data
NEW YORK (Reuters) - U.S. stock index futures slightly added to gains after data showed consumer inflation remained muted and retail sales rose more than expected in October.
J.C. Penney sees holiday quarter comparable sales improving
(Reuters) - Struggling retailer J.C. Penney Co Inc on Wednesday said it was encouraged by business so far in November and forecast higher comparable store sales in the current holiday quarter.
Hundreds of Chinese workers protest after Microsoft Nokia deal
DONGGUAN, China (Reuters) - Hundreds of workers shouted slogans on Wednesday outside a Nokia factory in southern China to protest against what they called unfair compensation after the company sold its mobile telephones business to Microsoft Corp.
Nissan unfazed by EV delays, dismisses rivals' fuel cell targets
TOKYO (Reuters) - Carlos Ghosn, the CEO of Renault SA and Nissan Motor Co , said he was unfazed by delays in his electric vehicle sales targets, predicting rivals would face even greater obstacles in their plans to launch fuel cell car sales over the next few years.
Lowe's raised forecast falls short of analysts' estimates
(Reuters) - Lowe's Cos Inc's quarterly profit slightly missed Wall Street estimates, and the No. 2 home improvement chain did not raise its fiscal-year outlook as much as analysts had hoped, sending its shares lower.
Britain's Cameron: Alarm bells should have rung over Co-op's Flowers
LONDON (Reuters) - British Prime Minister David Cameron said on Wednesday that investigators must find out how disgraced former banker Paul Flowers was allowed to hold his position as chairman of Britain's Co-operative Bank.
Shares, dollar sag ahead of Fed minutes
LONDON (Reuters) - Investors locked in some of the gains that have taken world stock markets to six-year highs on Wednesday as they waited to see what the mood was like at the U.S. Federal Reserve's most recent meeting.
Staples sticks to forecast after sales miss estimates
(Reuters) - Staples Inc , the largest U.S. office supply retailer, reported lower-than-expected third-quarter sales, citing weak demand and a stronger dollar.
Wall Street banks must abandon 'cottage industry' model: McKinsey
NEW YORK (Reuters) - The biggest Wall Street banks have not done nearly enough to boost shareholder returns, despite years of cost-cutting and tailoring balance sheets to a more profitable mix, consulting firm McKinsey & Co said in a report released on Wednesday.
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