The Other Side of Life 24/7: Business Today: Wall Street set to slip after five-year high, before earnings

Monday, January 7, 2013

Business Today: Wall Street set to slip after five-year high, before earnings

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01/7/2013

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 set to slip after five-year high, before earnings

NEW YORK (Reuters) - Stocks were set to fall at the open on Monday as markets are seen consolidating after the S&P 500 closed Friday at a five-year high and before this week's start of earnings season.

Bank of America to pay $3.6 billion to Fannie Mae to settle mortgage claims

(Reuters) - Bank of America Corp said it will pay $3.6 billion to Fannie Mae to settle claims related to residential mortgage loans for the nine years to the end of 2008.

Global shares, oil dip, but growth prospects limit falls

LONDON (Reuters) - World stocks and oil prices eased on Monday ending a new year rally as some investors chose to book profits, but signs of a brightening global economic growth outlook limited the falls.

Exclusive: Disney looks for cost savings, ponders layoffs - sources

LOS ANGELES (Reuters) - Walt Disney Co , which reported record earnings in November, started an internal cost cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters.

EU banks race to 17-month high as liquidity rules softened

LONDON (Reuters) - French bank stocks helped lead a sector-wide surge on Monday after regulators softened and delayed new liquidity rules, easing pressure on lenders to conform and potentially giving some a big profit boost.

Veteran broker departures shift $133 billion client assets in 2012

NEW YORK (Reuters) - Brokerages saw top advisers depart in droves last year and shift $132.5 billion in client assets with them, a Reuters tally shows, creating headaches for some Wall Street banks at a time when wealth management is becoming an increasingly important part of business.

Japan stimulus plans include $4.9 billion business support: draft

TOKYO (Reuters) - Japan's new government will set up schemes worth nearly $5 billion to boost businesses, including helping them buy foreign companies, according to a draft economic stimulus package seen by Reuters on Monday that could be approved this month.

Carlyle scores its best profit ever with exit from China's CPIC

HONG KONG (Reuters) - Carlyle Group plans to sell its remaining stake in China's third-largest insurer in a deal valued at up to $790 million, marking the U.S. private equity fund's most profitable exit ever from an investment.

IMF official in Egypt as currency crisis bites

CAIRO (Reuters) - A senior IMF official met Egypt's government on Monday for talks on a vital $4.8 billion loan as the Arab state battles to contain a currency crisis set off by political turmoil that is depleting its foreign reserves.