Credit Suisse creates "side pocket" in insurance fund
LONDON (Reuters) – Credit Suisse will create a separate portfolio in its dedicated insurance-linked securities (ILS) fund to house any investments potentially exposed to losses from superstorm Sandy.
Weak start to November hits some big retailers
(Reuters) – Weak sales at leading U.S. retailers in early November dragged down their results for the month as the effects of major Northeast storms offset brisk activity over the long Thanksgiving weekend.
Boehner sees no fiscal cliff progress after Geithner meeting
WASHINGTON (Reuters) – House of Representatives Speaker John Boehner said there was no progress on Thursday in “fiscal cliff” talks with U.S. Treasury Secretary Timothy Geithner and criticized President Barack Obama and Democrats for failing to “get se…
Two ex-Ernst partners’ convictions reversed in tax-shelter case
NEW YORK (Reuters) – A federal appeals court on Thursday threw out the convictions of two former Ernst & Young LLP partners over illegal tax shelters that the accounting firm used to help wealthy people evade income taxes.
Wall Street trims gains, volatile after Boehner remarks
NEW YORK (Reuters) – Stocks climbed on Thursday, but shed some earlier gains, after John Boehner, the top Republican in Congress, poured cold water on hopes that lawmakers were getting closer to cutting a budget deal that would avert a possible recessi…
Barnes & Noble’s Nook loss deepens, book sales slow
(Reuters) – Barnes & Noble Inc said the quarterly loss in its Nook division increased as the bookseller increased spending on its e-readers and tablets to keep pace with larger rivals Amazon.com Inc and Apple Inc .
Lockheed confident about F-35 contract before year-end
NEW YORK (Reuters) – Lockheed Martin Corp President Marillyn Hewson said on Thursday that talks with the Pentagon about a fifth batch of F-35 fighter jets were going well and an agreement was likely before the end of the year.
Icahn woos Oshkosh shareholders, company pushes back
(Reuters) – Activist investor Carl Icahn urged shareholders of Oshkosh Corp on Thursday to accept his $32.50-per-share bid for any and all outstanding shares of the company before the offer expires on Monday.
Inventories boost U.S. economic growth but trend weak
WASHINGTON (Reuters) – The U.S. economy grew faster than initially thought in the third quarter as restocking by businesses provided a big boost, but consumer and business spending were revised lower in a sobering reminder of the recovery’s underlying …
No "substantive" progress made on fiscal cliff: Boehner
WASHINGTON (Reuters) – House Speaker John Boehner said on Thursday that no substantive progress has been made to avoid the “fiscal cliff” of spending cuts and tax hikes that will start to go into effect early next year if Washington does not act.
