The Other Side of Life 24/7: Daily Investor Briefing: Wall Street ends up on Citi earnings,...

Monday, October 15, 2012

Daily Investor Briefing: Wall Street ends up on Citi earnings,...

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10/15/2012

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

Wall Street ends up on Citi earnings, retail data

NEW YORK (Reuters) - Stocks rose on Monday, rebounding from last week's losses after Citigroup's earnings and retail sales sharply exceeded expectations.

Retail sales point to stronger economic growth

WASHINGTON (Reuters) - Retail sales rose in September as Americans stepped up purchases of everything from cars to electronics, a sign that consumer spending is driving faster economic growth.

Citigroup's margins rise, results beat expectations

(Reuters) - Citigroup Inc made more money from trading in the third quarter, and its lending profitability rose, surprising investors and lifting the bank's shares 4.5 percent.

Greek PM says confident Athens will secure aid tranche

ATHENS (Reuters) - Greece will conclude austerity talks with its lenders to continue receiving the bailout funds it needs to exit its economic crisis, Prime Minister Antonis Samaras said on Monday.

Japan's Softbank snaps up Sprint in $20 billion deal

(Reuters) - Japanese mobile operator Softbank Corp said it will buy about 70 percent of Sprint Nextel Corp for $20.1 billion, giving Softbank the American toehold it has long desired and Sprint the capital to expand its network and potentially buy peers.

Exclusive: Renault-Nissan to lift savings, revamp alliance

PARIS (Reuters) - Renault and Nissan will pool more operations and seek a more stable structure for their carmaking alliance, sources said, to compete with Volkswagen on scale and prepare for Chief Executive Carlos Ghosn's eventual succession.

Bridgepoint says being investigated by U.S. Department of Justice

(Reuters) - For-profit education company Bridgepoint Education Inc said the U.S. Department of Justice was investigating the compensation of its admissions personnel.

Head of CEO group urges compromise on fiscal cliff

WASHINGTON (Reuters) - Arguing that business uncertainty over Washington's year-end "fiscal cliff" is choking off hiring and investment, the head of the most prominent CEO lobbying group on Monday called on Congress to compromise on tax cuts, spending cuts and revenues.

Germany must act to solve "nightmare" euro crisis: Soros

NEW YORK (Reuters) - There is a real danger that the "nightmare" euro crisis could destroy the European Union and Germany should either step up to fix it or step out of the currency union altogether, fund manager George Soros said on Monday.

Excalibur tells court Gulf Keystone boss not credible

LONDON (Reuters) - The chief executive of Gulf Keystone should not be considered a credible witness in a dispute over prized Kurdistan oil fields, a lawyer for Excalibur Ventures, which is suing the oil explorer, said on the opening day of the trial.