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Tuesday, November 11, 2014

Daily Investor Briefing: Wall Street ticks up to fresh record...

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Wall Street ticks up to fresh record high
NEW YORK (Reuters) - The Dow and S&P 500 eked out a fifth session of record closing highs in light volume on Tuesday, extending the market's recent rally as consumer discretionary shares gained.
Alibaba reports record $9 billion Singles' Day sales
HANGZHOU China (Reuters) - E-commerce giant Alibaba Group Holding Ltd reported more than $9 billion in sales on China's Singles' Day on Tuesday, illustrating the buying power of the Chinese consumer and the importance of the event in the retail calendar.
Exclusive: BlackRock reorganizes sales force, taps JPMorgan executive
(Reuters) - BlackRock Inc is reorganizing its sales force and has hired Lee Beck, a former managing director with J.P. Morgan Funds, to oversee sales to wirehouses, according to an internal memo obtained by Reuters.
Mercedes recalls 10,500 C-Class cars in U.S. for steering defect
DETROIT (Reuters) - Daimler AG's Mercedes-Benz unit is recalling 10,509 C-Class compacts from model year 2015 in the United States because some cars can lose steering function at low speed.
Xi urges faster APEC talks on China-backed free trade area
BEIJING (Reuters) - The global economic recovery is unstable and nations in the Asia Pacific Economic Cooperation (APEC) bloc should speed up free trade talks to spur growth, Chinese President Xi Jinping said on Tuesday.
AT&T's Mexico deal a cheap foothold outside saturated U.S. market
WASHINGTON/MEXICO CITY (Reuters) - AT&T's $1.7 billion agreement to buy Iusacell, Mexico's No. 3 cellular operator, puts it in the unfamiliar position of market underdog, owning an asset that may require billions in investment to catch up to the market's two larger players.
Pimco could withstand extra $300-350 billion outflows over two years: Morningstar
NEW YORK (Reuters) - Pacific Investment Management Co. can withstand additional outflows of approximately $300-350 billion over the next two years before its portfolio management operation is impaired, according to research firm Morningstar Inc. on Tuesday.
U.S. safety regulators probe Honda, Nissan vehicles for steering issues
DETROIT (Reuters) - U.S. safety regulators have opened separate investigations into potential steering issues in an estimated 374,000 Honda Accord sedans and an estimated 17,000 Infiniti EX35 compact crossover vehicles.
Microsoft unveils first Lumia smartphone without Nokia name
(Reuters) - Microsoft Corp said it would roll out its Lumia 535 smartphone this month with an affordable price tag in its key markets, dropping the Nokia name just months after buying the Finnish company's handset business.
UAW expects union recognition soon at VW Tennessee plant
(Reuters) - The United Auto Workers expect Volkswagen AG to announce soon a policy change that would allow for union representation at the company's plant in Chattanooga, Tennessee, where the union has faced challenges organizing workers.
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Pimco could withstand extra $300-350 billion outflows over two years: Morningstar

Exclusive: BlackRock reorganizes sales force, taps JPMorgan executive
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