Fed’s bond buying hasn’t boosted stocks, McKinsey study finds
SAN FRANCISCO (Reuters) – There is no evidence that the Federal Reserve’s massive bond-buying effort has led U.S. stock prices higher, according to a report released on Wednesday by the economics research arm of McKinsey & Company.
Alitalia approves new business plan, Air France-KLM unconvinced
ROME (Reuters) – The board of Alitalia on Wednesday approved a revised business plan, promising severe cost cuts to make the Italian airline more profitable, but its new strategy failed to convince top shareholder Air France-KLM .
Yellen says Fed has ‘more work to do’ to aid recovery
WASHINGTON (Reuters) – Janet Yellen, President Barack Obama’s nominee to lead the Federal Reserve, thinks the U.S. central bank has “more work to do” to help an economy and a labor market that are still underperforming.
US Airways-American Airlines deal may mean higher prices: experts
ATLANTA/WASHINGTON (Reuters) – Consumer advocates worry the decision to green-light another big airline merger will mean higher prices before long, even though upstart airlines will get more access to busy airports near Washington D.C. and New York as …
DoubleLine’s Gundlach says U.S. equities ‘only game in town’
(Reuters) – Jeffrey Gundlach, co-founder of DoubleLine Capital, said the U.S. stock market is the “only game in town” as the Dow and the S&P 500 closed at record highs on Wednesday, though he would be hesitant to add new money because “I don’t like buying high.”
Dow, S&P end at record highs on Macy’s, Yellen
NEW YORK (Reuters) – The Dow and the S&P 500 ended at record highs on Wednesday as strong results from Macy’s lifted consumer discretionary shares and investors bought stocks in anticipation of remarks by Janet Yellen, who is likely to become the first woman to lead the Federal Reserve.
Cisco warns of big second quarter revenue drop, shares fall
NEW YORK (Reuters) – Network equipment maker Cisco Systems Inc warned that its revenue would decline between 8 percent and 10 percent in its second fiscal quarter, sending its shares down almost 10 percent in late trade.
Starbucks says $2.76 billion Kraft split was necessary
(Reuters) – Starbucks Corp on Wednesday said breaking up with Kraft was hard to do, but worth the high price, after an arbitrator ruled it must pay a whopping $2.76 billion for ending the companies’ grocery coffee partnership early.
American Airlines municipal bonds take flight for U.S. mutual funds
BOSTON (Reuters) – Debt issued on behalf of a bankrupt airline has turned into one of the unlikeliest winners on the U.S. municipal bond market.
Alitalia extends cap hike deadline to November 27
MILAN (Reuters) – Italian airline Alitalia said on Wednesday it had extended a Friday deadline for shareholders to subscribe to a 300 million euro ($402 million) capital increase to November 27, giving top shareholder Air France-KLM more time to sign u…
