Business Today: In cautious testimony, Fed's Yellen says labor recovery far from complete

		Click to View in Browser 02/11/2014 In cautious testimony, Fed's Yellen says labor recovery far from complete WASHINGTON (Reuters) - New Federal Reserve Chair Janet Yellen said on Tuesday the labor market recovery is "far from complete" despite a drop in unemployment, yet she said the U.S. central bank expects to continue trimming policy stimulus in measured steps due to broader improvements in the economy. Gold hits three-month high, shares up ahead of Yellen LONDON (Reuters) - Gold hit a three-month high and global shares rose on Tuesday as investors wagered that the new head of the U.S. Federal Reserve would renew the bank's pledge to keep policy ultra-easy at her first testimony to Congress. Barclays to cut 12,000 jobs, pays bigger bonuses LONDON (Reuters) - Barclays said it would axe up to 12,000 jobs this year even as it raised bonuses for investment bankers, prompting fury among politicians and unions who said it had not learned the lessons of the financial crisis. Tough winter making U.S. economic assessment difficult: Fed's Plosser NEWARK, Delaware (Reuters) - Assessing the U.S. economy's underlying economic trends has become more difficult because of record low temperatures and heavy snowfall across much of the nation, Federal Reserve Bank of Philadelphia President Charles Plosser said on Tuesday. McDonald's looking to heat up U.S. sales with breakfast, coffee LOS ANGELES (Reuters) - Raymond Tremblay, a loyal McDonald's Corp customer from Los Angeles, thinks the fast-food chain sells tasty food at reasonable prices and he cannot think of a quick fix that would help end the company's disappointing U.S. performance. Alibaba to launch U.S. e-commerce website BEIJING (Reuters) - Alibaba Group Holding Ltd is set to launch a U.S. e-commerce website through its subsidiaries Vendio and Auctiva, which are in turn part of the Alibaba.com business group, the company told Reuters on Tuesday. Nestle cuts stake in L'Oreal, but staying for 'long haul' PARIS (Reuters) - Swiss food group Nestle is selling an 8 percent stake in L'Oreal to the French cosmetics firm for 6.5 billion euros ($9 billion), loosening their 40-year partnership and allowing both firms to boost earnings per share. Sprint reports smaller fourth-quarter loss; subscribers grow NEW YORK (Reuters) - Sprint Corp reported a smaller fourth-quarter loss than expected and a surprise increase in wireless subscribers, sending its shares up 4 percent in early trade. Goldman puts 'for sale' sign on Iran's old uranium supplier LONDON (Reuters) - Goldman Sachs and Deutsche Bank are quietly trying to get out of a business few people know they are even in: trading supplies of raw uranium known as yellowcake. Airbus says Asia-Pacific will be key driver of growth SINGAPORE (Reuters) - Airbus claimed bragging rights as the Asia-Pacific's dominant aircraft supplier on Tuesday, saying the region's fast growing economies and rising passenger demand will continue to drive demand over the next 20 years. Related Video Breakingviews dissects Barclays Exchange crash reveals bitcoin's real-world weakness Economic News In cautious testimony, Fed's Yellen says labor recovery far from complete Cyprus program on track, outlook still risky: EU/IMF review A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend