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Wednesday, December 10, 2014

Daily Investor Briefing: Energy drags market lower as crude...

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Energy drags market lower as crude sinks
NEW YORK (Reuters) - U.S. stocks dropped more than 1 percent on Wednesday as the energy sector resumed its recent slide along with crude oil prices and added to global growth worries.
U.S. third-quarter growth likely to be revised higher on services data
WASHINGTON (Reuters) - U.S. economic growth was likely stronger in the third quarter than previously reported, according to data on Wednesday that showed spending on services expanding at a brisk clip.
Ex-Madoff computer programmer gets 2-1/2 years prison for fraud
NEW YORK (Reuters) - A former computer programmer for Bernard Madoff was sentenced to 2-1/2 years in prison on Wednesday for helping the imprisoned fraudster carry out his multibillion dollar Ponzi scheme.
McDonald's to pare U.S. menus, ingredient lists
(Reuters) - McDonald's Corp said on Wednesday it plans to cut the number of items on its U.S. menus and use fewer ingredients in food as it moves to speed up service, bolster sales and offer consumers personalized options to compete better with Subway and Chipotle Mexican Grill.
OPEC cuts 2015 demand forecast for its oil to lowest in a decade
LONDON (Reuters) - Global demand for OPEC crude in 2015 is expected to fall to the lowest level in more than a decade and far below current output, the group said on Wednesday, pointing to a hefty supply surplus without OPEC output cuts or a slowdown in the U.S. shale boom.
Wal-Mart Stores names Judith Mckenna as U.S. operations COO
(Reuters) - Wal-Mart Stores Inc named company veteran Judith McKenna, chief operating officer of Walmart U.S. as the company looks to grow small format stores.
Special report: At Stanford, venture capital reaches into the dorm        
STANFORD, California (Reuters) - At the end of their first year at Stanford University, a half dozen students snagged an apartment-style dormitory on the third floor of Griffin House, overlooking the campus golf course. A little over a year later, in the autumn of 2014, just two were left at Stanford. The others had gone to work on their startups. 
Exclusive: Atlantic City, N.J. to slash bond deal, sell casino tax liens
(Reuters) - Atlantic City is expected to slash a bond sale by 71 percent to $40 million because the multitude of uncertainties facing the city have made it difficult to borrow, a city official told Reuters on Wednesday.
U.S. mortgage applications rise in latest week: MBA
NEW YORK, (Reuters) - Applications for U.S. home mortgages rose last week as both purchase and refinancing applications increased, an industry group said on Wednesday.
Pilots call for wider mediation in dispute with Lufthansa
BERLIN (Reuters) - Pilots at Lufthansa have called for mediation to cover all areas of their dispute with the German airline's management, not only the early retirement row that has resulted in 10 strikes this year.
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