The Other Side of Life 24/7: Daily Investor Briefing: Wall Street closes at five-year high...

Thursday, January 17, 2013

Daily Investor Briefing: Wall Street closes at five-year high...

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01/17/2013

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 closes at five-year high on data

NEW YORK (Reuters) - Stronger-than-expected data on housing starts and jobless claims lit a fire under stocks for a third day, boosting the S&P 500 to a five-year high on Thursday.

Housing, labor data provide upbeat signs on economy

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment aid hit a five-year low last week and residential construction surged in December, the latest signs that the U.S. economic recovery remains on track.

Boeing Dreamliners grounded worldwide on battery checks

TOKYO/SEATTLE (Reuters) - Airlines scrambled on Thursday to rearrange flights as regulators around the world joined the United States in grounding Boeing Co's 787 Dreamliner passenger jets while battery-related problems are investigated.

Intel's revenue forecast short of expectations

SAN FRANCISCO (Reuters) - Intel Corp forecast current-quarter revenue that was slightly below expectations as the personal computer industry grapples with falling sales and a shift toward tablets and smartphones.

Citigroup profit hit by more than $2 billion in charges

NEW YORK (Reuters) - Citigroup Inc posted $2.32 billion of charges for layoffs and lawsuits in its first financial report under new Chief Executive Michael Corbat, who said the bank needs to do better for shareholders.

Bank of America profit falls after mortgage-related charges

(Reuters) - Bank of America Corp's quarterly profit fell 63 percent as it took $5 billion of mortgage-related charges, but the bank showed signs that it is moving past its problems as it shrank the group that deals with its troubled home loans.

Analysis: Preparing for the unthinkable: Could markets handle a U.S. default?

NEW YORK (Reuters) - Squabbling in Washington over the debt ceiling is again raising the specter that the United States may be forced to delay payments on its debt. While the stigma of a default would be damaging enough to investor sentiment, the chaos from a breakdown in financial markets' systems that might result would be even scarier.

Boeing overtakes Airbus in annual sales race

TOULOUSE, France (Reuters) - Boeing re-captured the crown as the world's largest maker of passenger jets last year, overtaking Airbus for the first time in a decade as it recovered from delays on its new Dreamliner 787, only to face new problems on Thursday with the grounding of 787s over battery safety concerns.

SandRidge investor asks board to investigate CEO Ward

(Reuters) - A top SandRidge Energy Inc investor called on the company's board to investigate allegations that Chief Executive Tom Ward and a company run by his son engaged in "persistent front running of the company."

Rio Tinto CEO pays price of calamitous acquisitions

LONDON (Reuters) - Rio Tinto sacked chief executive Tom Albanese on Thursday and revealed a $14 billion writedown almost entirely on the value of his two most significant acquisitions, the Alcan aluminium group and Mozambican coal.