The Other Side of Life 24/7: Daily Investor Briefing: Wall Street ends lower on fiscal...

Wednesday, November 14, 2012

Daily Investor Briefing: Wall Street ends lower on fiscal...

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11/14/2012

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 lower on fiscal uncertainty

NEW YORK (Reuters) - Stocks tumbled to their lowest levels since late July on Wednesday, driven by uncertainty over budget negotiations and an escalation of violence in the Middle East.

Autos drag on retail sales, price pressure subdued

WASHINGTON (Reuters) - Retail sales fell in October for the first time in three months as superstorm Sandy slammed the brakes on automobile purchases, suggesting spending lost momentum early in the fourth quarter.

Congress panel blames Corzine for MF Global fall

WASHINGTON (Reuters) - Poor management decisions by MF Global's former CEO Jon Corzine triggered the brokerage firm's collapse, while lax protections for customer funds contributed to the loss of an estimated $1.6 billion of customer money, congressional investigators have determined.

Facebook stock jumps as share lockup expires

SAN FRANCISCO (Reuters) - Shares of Facebook Inc jumped as much as 11.2 percent on Wednesday, as investors breathed a sigh of relief that expiring trading restrictions on a huge block of shares did not trigger an immediate wave of insider selling.

Starbucks to buy Teavana in another step beyond coffee

(Reuters) - Starbucks Corp plans to acquire tea store operator Teavana Holdings Inc for $620 million in cash, furthering its push beyond its flagship coffee business.

CME Group wins anti-trust regulators' approval to buy KCBT

CHICAGO (Reuters) - CME Group has received approval ahead of schedule from U.S. anti-trust regulators to buy the Kansas City Board of Trade, although the deal is not yet finalized.

Groupon names Raman chief operating officer

SAN FRANCISCO (Reuters) - Groupon Inc said on Wednesday that it promoted Kal Raman to chief operating officer, giving the executive more power as the world's largest daily deal company tries to turn around its struggling international businesses.

Lockheed options spike before CEO news unexplained so far

WASHINGTON/CHICAGO (Reuters) - Lockheed Martin Corp said on Wednesday that it could not explain the huge jump in trading in its stock options last week, hours ahead of the surprising news that its incoming chief executive had resigned after admitting to an ethics breach.

BofA tallies $15.8 billion in mortgage aid to struggling borrowers

(Reuters) - About $15.8 billion in mortgage relief is making its way to 164,000 Bank of America Corp customers under a landmark settlement with state and federal officials, the bank said on Wednesday.

Kodak keeps control of bankruptcy through February 28

NEW YORK (Reuters) - Eastman Kodak Co won court permission on Wednesday to retain exclusive control of its bankruptcy case through February 28 as it tries to execute a $793 million financing offer from a group of bondholders.