Deere sees weak equipment sales in 2016 as farm economy remains soft
(Reuters) – Deere & Co on Wednesday reported a drop in quarterly earnings that was not as steep as Wall Street expected and gave a less dire outlook than analysts had feared, saying it was well-positioned to weather a worsening slump in demand for its farm equipment.
FanDuel, DraftKings fight threatened shutdown in New York
NEW YORK (Reuters) – Daily fantasy sports companies DraftKings and FanDuel urged a New York judge on Wednesday to spare them from a potentially crippling shutdown in one of their top markets by ruling that their contests do not constitute illegal gambl…
Wall Street indexes flat in pre-holiday lull; health, consumer up
(Reuters) – The major U.S. indexes were virtually unchanged at the close of a quiet trading day on Wednesday with gains in healthcare and consumer stocks after data showed U.S. modest economic growth.
Fed gives largest U.S. banks extra year for debt rule calculation
NEW YORK (Reuters) – The Federal Reserve said on Wednesday that bigger U.S. banks would have an extra year to calculate a capital requirement known as the supplementary leverage ratio for stress testing.
NXP wins U.S. antitrust approval to buy Freescale Semiconductor
WASHINGTON (Reuters) – NXP Semiconductors N.V. has won U.S. antitrust approval to buy Freescale Semiconductor Ltd, a deal worth $11.8 billion, on condition that it sell its radio frequency power business, the Federal Trade Commission said on Wednesday….
Pimco, others sue Citigroup over billions in mortgage debt losses
(Reuters) – Pacific Investment Management Co and other investors have sued Citigroup Inc over the bank’s alleged failure to properly monitor toxic securities backed by more than $13.8 billion of mortgage loans, resulting in $2.3 billion of losses.
GM, law firm can keep ignition switch documents secret: U.S. judge
NEW YORK (Reuters) – General Motors Co and its law firm need not turn over privileged documents to drivers hoping to show that the automaker intended to commit a crime or fraud by concealing defective ignition switches in their vehicles, a Manhattan fe…
United Continental to offer 13 percent pay increase to pilots: Bloomberg
(Reuters) – United Continental Holdings Inc is offering pilots a 13 percent pay increase in 2016 in a contract that would put them at or near the top of the U.S. airline industry’s pay scale, Bloomberg reported, citing two people briefed on the plan.
With U.S.-Cuba detente, a battle over trademarks looms
CAMAGUEY, Cuba (Reuters) – When Julio Manzini decided two years ago to name his small restaurant McDonald’s after the famous fast-food chain , he had no idea it could cause any trouble. He has since been frightened into removing the name.
U.S. data points to moderate fourth-quarter growth
WASHINGTON (Reuters) – U.S. consumer spending barely rose in October as households took advantage of rising incomes to boost savings to their highest level in nearly three years, pointing to moderate economic growth in the fourth quarter.
