The Other Side of Life 24/7: Daily Investor Briefing: S&P erases early selloff to end flat;...

Tuesday, December 9, 2014

Daily Investor Briefing: S&P erases early selloff to end flat;...

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12/9/2014

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

S&P erases early selloff to end flat; energy leads

NEW YORK (Reuters) - The S&P 500 ended nearly flat on Tuesday after falling more than 1 percent earlier in the session as concerns about global weakness and political turmoil were offset by gains in technology and energy shares.

Oil up after five-year low in Brent; traders wary of more downside

NEW YORK (Reuters) - Brent prices ended higher on Tuesday after a 5-year low and five straight days of losses and U.S. crude also rose as players sought a sustainable price for oil in a market haunted by oversupply concerns.

Solid U.S. wholesale inventories data seen boosting growth

WASHINGTON (Reuters) - U.S. wholesale inventories rose more than expected in October, prompting some economists to raise their growth forecasts for the fourth quarter.

Standard Chartered's deferred prosecution agreement in NY extended

(Reuters) - The district attorney for Manhattan has extended by three years a deferred prosecution agreement with Standard Chartered, after finding the British bank has not met the standards required by the 2012 agreement and also noting another probe of the bank is underway, according to a document obtained by Reuters.

Abercrombie CEO Jeffries steps down as company seeks new look

(Reuters) - Abercrombie & Fitch Co Chief Executive Michael Jeffries, who transformed the teen apparel retailer from a drab sports brand into a fashion icon before running afoul of shoppers and investors, has stepped down after over two decades at the helm.

U.S. judge sentences Madoff aide Bongiorno to six years in prison

NEW YORK (Reuters) - A former manager at Bernard Madoff's firm was sentenced to six years in prison on Tuesday for helping the convicted fraudster carry out a Ponzi scheme that caused investors to lose billions of dollars.

Citigroup to post $2.7 billion in added legal costs in fourth quarter: CEO

(Reuters) - Citigroup Inc will record $2.7 billion in litigation expenses and another $800 million in repositioning charges, leaving the third-largest U.S. bank "marginally profitable" in the fourth quarter, its chief executive officer said on Tuesday.

UAW wants works council with 'Tennessee flavor' at VW plant

(Reuters) - The United Auto Workers union said on Tuesday it will train workers at Volkswagen AG's plant in Chattanooga, Tennessee, in an effort to form a U.S. version of a German-style works council, while continuing to push for collective bargaining rights at the factory.

U.S. employers are posting a lot more job openings

WASHINGTON (Reuters) - The number of job openings in the United States rose to a near 13-year high in October, a hopeful sign for the U.S. economy and labor market.

Boeing to cut 747-8 output starting Sept 2015 amid slow cargo market

NEW YORK (Reuters) - Boeing Co said on Tuesday it will cut production of its iconic 747-8 jumbo jet to 1.3 planes per month from 1.5 per month, starting September 2015.