Dow, S&P 500 end at record highs after Fed trims stimulus
NEW YORK (Reuters) – U.S. stocks staged an explosive rally on Wednesday, driving the Dow and the S&P 500 to all-time closing highs after the Federal Reserve announced it would start to unwind its historic stimulus.
Facebook, Zuckerberg, banks must face IPO lawsuit: judge
NEW YORK (Reuters) – Facebook Inc, Chief Executive Mark Zuckerberg and dozens of banks must face a lawsuit accusing the social media company of misleading investors about its health before its $16 billion initial public offering, a federal judge said.
EU ministers reach deal on scheme to close failing banks: diplomats
BRUSSELS (Reuters) – European Union finance ministers reached an agreement on Wednesday on a blueprint to close failing euro zone banks, paving the way for the completion of banking union to restore investor confidence in the sector.
Exclusive: Dish eyes 2014 bid for T-Mobile – sources
(Reuters) – Dish is considering making a bid for T-Mobile next year, according to people close to the matter, in what would be the satellite TV provider’s second attempt in as many years at acquiring a major wireless operator and potentially setting th…
SAC’s Steinberg found guilty of insider trading
NEW YORK (Reuters) – Michael Steinberg, a top portfolio manager at Steven A. Cohen’s SAC Capital Advisors hedge fund, was found guilty on Wednesday on charges that he traded on insider information.
Robust U.S. housing data point to strengthening economy
WASHINGTON (Reuters) – U.S. housing starts surged to their highest in nearly six years in November, a sign of strength in the economy that underscores the Federal Reserve’s decision to start cutting back its monthly bond purchases.
Exclusive: Goldman’s Michael Foods seeks $2 billion-plus sale – sources
NEW YORK (Reuters) – Michael Foods Group Inc, a producer and distributor of egg and dairy products owned by Goldman Sachs Group Inc’s private equity arm, is exploring a sale that could fetch more than $2 billion, according to people familiar with the m…
Abe labor reforms may boost Japan’s ‘disposable’ workers, crimp wages
TOKYO (Reuters) – Yumiko Kajiwara is a cheerful 46-year-old who has had several part-time jobs, including sorting clothes, cosmetics and cellphone parts at a Tokyo warehouse. She also represents a challenge to Prime Minister Shinzo Abe.
Chevrolet marketing boss Chris Perry resigns
(Reuters) – The ongoing upheaval in General Motors Co’s executive ranks continued on Wednesday with the sudden resignation of Chris Perry as vice president of Chevrolet marketing.
Bankruptcy judge suspends hearing on Detroit’s swaps deal
DETROIT (Reuters) – The bankruptcy judge overseeing Detroit’s bankruptcy case on Wednesday suspended a hearing on a $350 million post-petition financing to end interest-rate swaps, urging the city to renegotiate the deal.
