The Other Side of Life 24/7: Daily Investor Briefing: U.S. consumer spending in December...

Monday, February 2, 2015

Daily Investor Briefing: U.S. consumer spending in December...

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02/2/2015

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

U.S. consumer spending in December weakest since 2009

WASHINGTON (Reuters) - U.S. consumer spending recorded its biggest decline since late 2009 in December with households saving the extra cash from cheaper gasoline.

Stocks rally on oil, Greek deal hopes

NEW YORK (Reuters) - U.S. stocks rose sharply on Monday, as hopes for a deal regarding Greek debt fueled a late rally, with a bounce in oil prices also lending support.

RadioShack may close, Sprint to get half of chain: BBG

(Reuters) - Troubled electronics retailer RadioShack Corp is preparing to shut down the chain in a bankruptcy deal that would see half the stores taken over by Sprint Corp, Bloomberg News reported, citing people with knowledge of the discussions.

Exxon fourth-quarter profit tops estimate, share buyback slashed in half

(Reuters) - Exxon Mobil Corp said on Monday its quarterly profit fell 21 percent as weak oil prices took a toll, but results topped Wall Street expectations due to a tax adjustment and higher earnings from its chemicals business.

Verizon close to deals to sell over $10 billion in assets: WSJ

(Reuters) - Verizon Communications Inc is nearing deals to sell more than $10 billion in assets, the Wall Street Journal reported, citing people familiar with the matter.

Oil up 11 percent after two-day rally; trade volatile on stock builds

NEW YORK (Reuters) - Oil prices rose strongly again on Monday, tacking on a total of 11 percent over two straight sessions, as some investors bet that a bottom had formed to the seven-month long rout on the market even as others remained pessimistic.

U.S. banks say global 'too-big-to-fail' plan is too strict

WASHINGTON (Reuters) - A plan by regulators for the world's biggest banks to hold more capital to withstand financial shocks is overly demanding, major U.S. bank groups said on Monday, urging further study into how to avoid future taxpayer bailouts.

Nissan rejects U.S. government offer to mediate Mississippi UAW row

DETROIT (Reuters) - Nissan Motor Co has rejected a U.S. State Department offer to mediate a dispute between the company and the United Auto Workers over claims of anti-union practices as the UAW tries to organize workers in Mississippi.

Lululemon founder to leave board, keep stake in yogawear chain

(Reuters) - Lululemon Athletica Inc founder Chip Wilson said on Monday he is quitting the board of directors of the yogawear retailer, hit nearly two years ago by a major recall, because the company was back on track with a strong management team.

Deaths linked to defective GM switch expected to rise: fund official

DETROIT (Reuters) - The number of eligible claims for deaths and injuries linked to the defective General Motors Co ignition switch that led to the recall of 2.6 million older cars should rise, an official responsible for administering the victim compensation fund said on Monday.