The Other Side of Life 24/7: Daily Investor Briefing: Dow at record, ends up for 10th...

Thursday, March 14, 2013

Daily Investor Briefing: Dow at record, ends up for 10th...

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03/14/2013

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

Dow at record, ends up for 10th straight day

NEW YORK (Reuters) - The Dow Jones industrial average extended its recent winning streak to 10 days on Thursday and once again closed at a record high as investors were encouraged by data that showed the labor market's recovery was improving.

Jobless claims data brightens labor market picture

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits dropped for a third straight week last week, the latest indication the labor market recovery was gaining traction.

Exclusive: Hungary's central bank reels from sweeping takeover

BUDAPEST (Reuters) - The biggest meeting room at the National Bank of Hungary, once a sanctuary for academic debate between the bank's experts and leaders, is now the preserve of one of new Governor Gyorgy Matolcsy's closest aides.

Dow Chemical looking to raise $1.5 billion from asset sales

(Reuters) - Dow Chemical Co , looking to focus on high-margin businesses, said it plans to raise $1.5 billion from asset sales in the next 18 months and is seeking buyers for its polypropylene licensing and catalyst business and its plastics additives unit.

Exclusive: BP's mighty trading unit under scrutiny as earnings drop

LONDON (Reuters) - BP's oil trading division, the alma mater for a generation of the world's top traders and a former cash-generating machine, is under greater scrutiny after becoming a weak link for the oil major.

Analysis: Can U.S. airlines attract investors with better returns?

ATLANTA (Reuters) - U.S. airline stocks, long derided as investment duds, have been gaining altitude in recent years. Now, some see room for them to fly even higher.

Fed rejects Ally, BB&T capital plans in stress tests

WASHINGTON (Reuters) - The Federal Reserve said on Thursday it had rejected plans by BB&T Corp and Ally Financial to return capital to shareholders, and is forcing Goldman Sachs and JPMorgan & Chase to improve the processes they use to determine their capital payouts.

"Abolish austerity" Brussels protesters tell EU leaders

BRUSSELS (Reuters) - Thousands of protesters, some dressed as ghouls and firing flares, demanded on Thursday that EU leaders meeting in Brussels put an end to government spending cuts blamed for mass joblessness and a growing social crisis in parts of Europe.

Credit Suisse to pay $400 million to end U.S. bond lawsuits

ZURICH/NEW YORK (Reuters) - Credit Suisse Group AG has agreed to pay at least $400 million to settle lawsuits by investors over the Swiss bank's role in raising money for a healthcare financing company that collapsed in a $2.9 billion fraud more than a decade ago.

UBS chief executive paid $9 million after revamp

ZURICH/LONDON (Reuters) - UBS drew fire on Thursday as it announced it paid CEO Sergio Ermotti almost $9 million in 2012 and welcomed a new investment bank chief with a $26 million package, just as the Swiss bank is in the process of firing 10,000 staff.