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Tuesday, December 2, 2014

Daily Investor Briefing: Energy leads Wall St higher; Dow sets...

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12/2/2014
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
Energy leads Wall St higher; Dow sets record
NEW YORK (Reuters) - U.S. stocks rose on Tuesday, with the Dow industrials closing at a record led by gains in the energy sector, and as Biogen rallied on news about an experimental treatment for Alzheimer's disease.
U.S. November auto sales pace best since 2003
DETROIT (Reuters) - The top six automakers sold more cars and trucks in November than analysts expected, with a healthy economy, generous discounts and low fuel prices luring consumers into U.S. showrooms.
Bezos defends Amazon's lack of profits, stance on publishers
NEW YORK (Reuters) - Jeff Bezos, the chief executive of Amazon.com Inc , was unapologetic about his twenty-year-old company's lack of profit during a rare public appearance on Tuesday, noting he spends just six hours a year on investor relations.
Pimco fund posts 19th month of outflows, but CIO touts stabilization
NEW YORK (Reuters) - The Pimco Total Return Fund posted its 19th straight month of outflows in November, totaling $9.5 billion, but withdrawals are down dramatically since former Chief Investment Officer Bill Gross' exit.
Exclusive: Citigroup to shutter LavaFlow stock trading venue
NEW YORK (Reuters) - Citigroup Inc is shutting down its alternative stock trading venue LavaFlow, the bank said on Tuesday, at a time when regulatory scrutiny has increased around broker-run trading platforms, forcing banks to rethink the costs.
Solid construction, auto sales data boost U.S. growth picture
WASHINGTON (Reuters) - U.S. construction spending recorded its largest gain in five months in October, easing concerns of a sharp slowdown in fourth-quarter economic growth.
Takata taps former U.S. transport chiefs in air bag safety crisis
DETROIT (Reuters) - Takata Corp said on Tuesday it had recruited three former U.S. transportation secretaries to help the Japanese air bag supplier navigate a growing auto safety crisis.
RadioShack says lender's covenant breach claims 'self serving'
(Reuters) - RadioShack Corp said it received a notice from lender Salus Capital Partners accusing it of breaching covenants on a $250 million term facility, claims the troubled electronics retailer called "wrong and self serving."
Oil falls below $72 after sharp rally in volatile market
LONDON (Reuters) - Brent oil fell below $72 a barrel on Tuesday, giving up some of its gains in the previous day's rally from five-year lows, as traders voiced uncertainty over whether the market had reached a floor or would keep falling.
BNY Mellon gives activist investor Trian Fund a board seat
(Reuters) - Bank of New York Mellon said it elected Ed Garden, a founding partner of activist investor Trian Fund Management LP, to its board.
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