The Other Side of Life 24/7: 12/16/13

Monday, December 16, 2013

Daily Investor Briefing: Wall Street ends higher on upbeat data...

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12/16/2013

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 ends higher on upbeat data

NEW YORK (Reuters) - U.S. stocks rose on Monday after closing Friday their worst week since August as upbeat economic data and large deals boosted optimism ahead of a key Federal Reserve decision later in the week.

U.S. factory activity gains steam as production broadens

WASHINGTON (Reuters) - U.S. manufacturing output rose for a fourth straight month in November as production increased almost across the board, the latest suggestion the economy is gaining steam.

Exclusive: Comcast weighs three options for Time Warner Cable deal

NEW YORK (Reuters) - Comcast Corp is examining three scenarios for a potential deal with Time Warner Cable, including a full takeover bid for the second-largest cable operator, people close to the situation said on Monday.

Lockheed may revise 2014 outlook if U.S. budget deal passes

WASHINGTON (Reuters) - U.S. weapons maker Lockheed Martin Corp may revise upward its financial outlook for 2014 if Congress passes a two-year budget deal that would blunt the effect of mandatory budget cuts, Marillyn Hewson, the company's president and chief executive officer, told Reuters on Monday.

AIG sells aircraft leasing wing to focus on insurance

(Reuters) - Insurer American International Group Inc said on Monday it will sell its aircraft-leasing business to AerCap Holdings NV for $5.4 billion, after four years of trying to divest its biggest non-insurance business in fits and starts.

Fonterra challenged in China's fast-growing milk powder market

SHANGHAI/WELLINGTON (Reuters) - Milk powder buyers in China are starting to cut their reliance on New Zealand's Fonterra , opening the way for U.S. and European firms to break the dairy giant's grip on an infant milk formula market set to double to $25 billion by 2017.

Canada's competition watchdog challenges Google's search dominance

TORONTO (Reuters) - Canada's Competition Bureau has filed a legal motion against Google Inc alleging that the company is abusing its dominant position in online search, joining U.S. and European anti-trust authorities in challenging the practices of the web giant.

Florida judge grants $10.5 million bail for ex-UBS banker

FORT LAUDERDALE, Florida (Reuters) - Raoul Weil, a former high-ranking UBS banker charged with tax fraud by U.S. authorities, was ordered freed on bail of $10.5 million on Monday in federal court in Fort Lauderdale.

JPMorgan to sell small investment business in Asia

(Reuters) - JPMorgan Chase & Co, which is pushing to simplify operations on its $2.46 trillion balance sheet, has put up for sale its Global Special Opportunities Group, an Asia-based unit that makes investments in mid-sized companies, according to a person familiar with the matter.

EU to give itself until mid-2014 to work on reform-for-money plan: draft

BRUSSELS (Reuters) - European Union leaders will give themselves until June next year to work out how governments can sign contracts to conduct reforms and get some form of EU financial support in return, draft conclusions of an EU summit this week showed on Monday.