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Wednesday, December 3, 2014

Daily Investor Briefing: Cyclicals lead Wall St. higher; Dow,...

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Cyclicals lead Wall St. higher; Dow, S&P end at records
NEW YORK (Reuters) - U.S. stocks rose on Wednesday, with both the Dow and S&P 500 ending at records, as data pointed to improving conditions in the U.S. services sector, boosting cyclical stocks.
U.S. jobs, services sector data underscore economy's resilience
WASHINGTON (Reuters) - U.S. private companies added workers at a fairly brisk clip in November and the services sector grew strongly, suggesting a slowing global economy is having a limited impact on domestic activity.
Fed says U.S. economy expanding, shale production steady
WASHINGTON (Reuters) - U.S. economic activity continued to expand in October and November, with lower gasoline prices boosting consumer spending, the Federal Reserve said on Wednesday.
GSK cuts U.S. sales and research jobs as market gets tougher
LONDON (Reuters) - GlaxoSmithKline said on Wednesday it would shed "several hundred" U.S. commercial jobs and a similar number of research positions as it restructures operations in its biggest market, where drug sales are flagging.
Exclusive: Takata investigated defective air bag inflator as early as 2003
DETROIT (Reuters) - As early as 2003, Takata Corp ran an investigation into an air bag inflator that ruptured in a BMW vehicle, but concluded the problem was an anomaly, the company said on Tuesday, ahead of a second U.S. congressional hearing on dangerous air bags it supplied.
Cheaper beans set to dominate as Asians thirst for instant coffee
MUMBAI/SEOUL (Reuters) - Mumbai civil servant Sachin Kenjale regularly ends his day with a steaming cup of instant coffee after trying the drink for the first time with friends around two years ago.
Takata has yet to find 'root cause' of air bag ruptures: executive
WASHINGTON/DETROIT (Reuters) - Japanese auto parts supplier Takata Corp on Wednesday acknowledged that it still does not understand what is causing air bag explosions that have hurtled metal shards into vehicles even as it insisted that calls for a broader recall to remedy the problem were misguided.
Former CEO Ballmer, activist Jesse Jackson enliven Microsoft meeting
BELLEVUE, Wash. (Reuters) - Former Microsoft Corp Chief Executive Officer Steve Ballmer and civil rights activist Jesse Jackson livened up the technology company's annual shareholder meeting on Wednesday, grabbing the spotlight from the current leaders on stage.
Autoliv says to supply airbag inflators to be used by Honda
STOCKHOLM (Reuters) - Autoliv will supply replacement airbag inflators to be used by Honda Motor Company in the United States, Autoliv said on Wednesday.
Brent rebounds above $71 in turbulent oil market
LONDON (Reuters) - Brent rose to $71 a barrel on Wednesday, recovering some of its losses from the previous session as a turbulent market searched for a price floor after a nearly 40 percent fall since June.
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