The Other Side of Life 24/7: Daily Investor Briefing: Wall Street stays afloat on firm data...

Wednesday, October 3, 2012

Daily Investor Briefing: Wall Street stays afloat on firm data...

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10/3/2012

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 stays afloat on firm data but HP drags

NEW YORK (Reuters) - Wall Street ended modestly higher on Wednesday on stronger-than-expected U.S. labor and service-sector data, but the Dow industrials were hobbled by a slide in Hewlett-Packard.

U.S. companies add jobs in September, service sector expands

NEW YORK (Reuters) - U.S. companies added more jobs than expected in September, while activity in the vast services sector picked up, suggesting the economy remained on track for modest growth.

HP's shares hit 9-year low as 2013 outlook disappoints

SAN FRANCISCO (Reuters) - Hewlett-Packard Co's shares plunged to a nine-year low on Wednesday after Chief Executive Meg Whitman warned of an unexpectedly steep earnings slide in 2013, with revenue set to fall in every business division except software.

Deutsche Telekom, MetroPCS to merge U.S. mobile businesses

FRANKFURT/NEW YORK (Reuters) - Deutsche Telekom and MetroPCS said they will merge their U.S. mobile operations to create a larger fourth-place player better able to compete with rivals.

Theft of trade secrets worsening in China

WASHINGTON (Reuters) - Chinese theft of valuable U.S. trade secrets, much via sophisticated cyber-attacks, is becoming a much more serious problem, U.S. industry officials said on Wednesday.

IMF ready to help Spain: Lagarde

PARIS (Reuters) - The International Monetary Fund stands ready to help Spain in multiple ways if Madrid seeks its aid, IMF chief Christine Lagarde said in a newspaper interview published on Wednesday.

Rajoy, Monti, Hollande to discuss euro zone on Friday

MADRID (Reuters) - The leaders of Spain, France and Italy will meet on Friday on the sidelines of a Mediterranean summit in Malta, the office of Italian Prime Minister Mario Monti said on Wednesday.

Bakers shoe chain files for bankruptcy

(Reuters) - Bakers Footwear Group Inc, which operates 215 women's shoe stores in the United States, filed for bankruptcy protection on Wednesday as it struggles to restructure its business amid falling sales.

Woes deepen in Europe and China; U.S. the bright spot

LONDON/NEW YORK (Reuters) - The euro zone's economic woes accelerated last month and China's slowdown looked likely to extend to a seventh quarter, surveys on Wednesday showed, while the United States proved the bright spot with better-than-expected news on services and jobs.

Greek hopes fade for quick deal on austerity cuts

ATHENS (Reuters) - Greece's hopes of striking a deal with its lenders before euro zone finance ministers meet next week dimmed on Wednesday, when officials admitted the two sides disagree on how much the economy will contract in 2013 - a key figure in their calculations.