The Other Side of Life 24/7: Daily Investor Briefing: Wall Street drops for 3rd day, led by...

Wednesday, December 26, 2012

Daily Investor Briefing: Wall Street drops for 3rd day, led by...

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12/26/2012

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 drops for 3rd day, led by retailers

NEW YORK (Reuters) - U.S. stocks fell for a third straight day on Wednesday, dragged lower by retail stocks after a report showed consumers spent less in the holiday shopping season than last year.

U.S. retailers scramble after lackluster holiday sales

(Reuters) - The 2012 holiday season may have been the worst for retailers since the financial crisis, with sales growth far below expectations, forcing many to offer massive post-Christmas discounts in hopes of shedding excess inventory.

Home prices rose in ninth straight month: S&P

NEW YORK (Reuters) - Single-family home prices rose in October for nine months in a row, reinforcing the view the domestic real estate market is improving and should bolster the economy in 2013, a closely watched survey showed on Wednesday.

China consumers driving economic rebound: survey

BEIJING (Reuters) - China's consumers are leading an uneven recovery in the world's second biggest economy that has retailers expecting stronger sales in six months, early results of a national survey showed on Wednesday.

Future of state estate taxes hangs on U.S. "fiscal cliff"

(Reuters) - Falling off the "fiscal cliff" is a bad thing, right?

Analysis: Japan's yen offensive may give Toyota an edge over Hyundai

TOKYO (Reuters) - When Toyota Motor Corp President Akio Toyoda visited northern Japan in July last year and announced a $24 million engine plant expansion, some analysts saw it as evidence of a flawed strategy that put patriotism above profitability.

Perelman scores victory versus Rennert in billionaire battle

(Reuters) - Ronald Perelman has notched a legal victory against fellow billionaire Ira Rennert, who has been ordered by a Delaware court to direct his business to turn over $48.7 million in a dispute over a jointly owned truck maker.

Starbucks to use cups for "fiscal cliff" message to lawmakers

(Reuters) - Starbucks Corp will use its ubiquitous coffee cups to tell U.S. lawmakers to come up with a deal to avoid going over the "fiscal cliff" of automatic tax hikes and government spending cuts.

Covidien to acquire CV Ingenuity

(Reuters) - Medical device and products maker Covidien Plc on Wednesday said it has a definitive agreement to acquire CV Ingenuity, a privately-held company focusing on treatments for peripheral arterial disease.

Samsung Electronics seeks U.S. sales ban on some Ericsson products

SEOUL (Reuters) - Samsung Electronics said on Wednesday it had filed a complaint against Ericsson with the U.S. International Trade Commission (ITC), requesting a U.S. import ban and sales ban on some of the Swedish telecoms equipment maker's products.