The Other Side of Life 24/7: Business Today: China December factory PMIs suggest economy cooling further, more stimulus expected

Thursday, January 1, 2015

Business Today: China December factory PMIs suggest economy cooling further, more stimulus expected

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01/1/2015

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China December factory PMIs suggest economy cooling further, more stimulus expected

BEIJING (Reuters) - China's factory activity sputtered in December, underlining the challenges facing the country's manufacturers as they fight rising costs and softening demand in a cooling economy.

Oil ends on a low after halving in 2014 as OPEC stands aside

NEW YORK (Reuters) - Oil prices fell on Wednesday to a 5-1/2-year low and ended with their second-biggest annual decline ever, down by half since June under pressure from a global glut of crude.

Ambac sues Bank of America over Countrywide mortgage bonds

NEW YORK (Reuters) - Ambac Assurance Corp sued Bank of America Corp to recoup hundreds of millions of dollars of losses from insuring roughly $1.68 billion of securities backed at least in part by risky mortgages from the bank's Countrywide Home Loans unit.

U.S. jobless claims rise, but labor market still firming

WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits rose more than expected last week, but the trend remained consistent with sustained strength in the labor market.

Tesco remuneration committee head to step down

(Reuters) - The head of the remuneration committee at scandal-hit British grocer Tesco PLC , Stuart Chambers, is set to step down, Tesco said on Wednesday.

Fed forecasting tool calls for immediate rate hike, Plosser says

(Reuters) - A forecasting tool developed by the Federal Reserve recommends that U.S. interest rates should be hiked immediately to keep pace with the improving economy, according to a paper by the soon-to-retire Philadelphia Fed President Charles Plosser.

Boeing appears to hit 111 of 787 deliveries for 2014, tops target

NEW YORK (Reuters) - Boeing Co appears to have delivered 111 of its 787 Dreamliners in 2014, topping its forecast of 110, after the company said on Wednesday it had delivered Etihad Airways' first 787-9 jet.

U.S. pending home sales rise modestly in November

WASHINGTON (Reuters) - Contracts to buy previously owned U.S. homes rose only modestly in November, pointing to a still-sluggish housing market despite several months of stronger economic growth and hiring.

After 2014's party, investors in U.S. stock market may face a hangover

(Reuters) - Revelers ringing in the new year this week need to watch out for the next day's hangover. Investors may experience a similar feeling early in 2015 after a two-year run that has propelled U.S. stocks up by nearly 50 percent.

U.S. opening of oil export tap widens battle for global market

WASHINGTON/NEW YORK (Reuters) - The Obama administration has opened a new front in the global battle for oil market share, effectively clearing the way for the shipment of as much as a million barrels per day of ultra-light U.S. crude to the rest of the world.