FTSE 100 hits highest level since May 2008 on earnings optimism

LONDON (Reuters) - The FTSE 100 hit their highest level since May 2008 on Wednesday, with gains led by banking stocks and miners after a reassuring start to the U.S. earnings season boosted demand for riskier assets.The FTSE 100 broke through a near two-year high at 6,105.77 in afternoon trade, following a strong opening on Wall Street, peaking at 6,112.27, before settling to close up 45.02 points,...

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Nasdaq CEO says would definitely consider Euronext

NEW YORK (Reuters) - Nasdaq OMX Group would definitely consider bidding for Euronext, the operator of the Paris, Amsterdam, Brussels and Lisbon stock exchanges, if it were put up for sale, Nasdaq's Chief Executive Robert Greifeld said in an interview."We would have to take a look at it," he said. "I'm not saying we would bid on it, but we would have to take a look."Chatter that Euronext could be...

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Wall Street gains as earnings flow in; Alcoa up

NEW YORK (AP) — Stocks rose on Wall Street Wednesday after U.S. corporate earnings reports got off to a good start.The Dow Jones industrial average rose 57 points to 13,396 as of 2:12 p.m. EST. The Dow is coming off of two days of losses.The Standard & Poor's 500 index gained four points to 1,461 and the Nasdaq composite rose 16 points to 3,108.Having rallied after a last-minute resolution stopped...

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TSX drops as miners weaken, focus on U.S. earnings

Canada's main stock index retreated on Monday as mining stocks were pressured by softer gold prices and investors braced for the upcoming U.S. fourth-quarter earnings season.The Toronto Stock Exchange's S&P/TSX composite index's <.gsptse> fall tracked declines on U.S. stock markets as cautious investors cashed in recent gains ahead of the earnings season. The U.S. results are expected to...

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Asian shares fall on caution before earnings reports

 Asian shares fell on Tuesday as investors took a break from the new year's rallies, with caution setting in ahead of corporate earnings season for the last quarter of 2012 and the European Central Bank's policy meeting later in the week.The euro remained firm against the dollar on speculation the ECB might refrain from signalling more interest rate cuts when it meets on Thursday.The dollar...

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Asia stocks down ahead of US corporate earnings

 Asian stock markets headed lower Tuesday as investors turned cautious before U.S. earnings season kicks off this week.Investors will get a feel for corporate America's outlook as earnings reports start coming. Aluminum producer Alcoa Inc. will launch the reporting season for the fourth quarter of 2012 on Tuesday after U.S. markets close. Events during the quarter such as Superstorm Sandy, the...

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Citigroup to seek permission to buy back shares - WSJ

NEW YORK (Reuters) - Citigroup Inc is planning to ask regulators for permission to buy back a "minimal" number of shares, the Wall Street Journal reported on Friday.The bank is not planning to ask to increase its quarterly dividend, which is currently a penny a share, the newspaper reported, citing people familiar with the company's plans.Citigroup Chairman Michael O'Neill and newly installed CEO...

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"Cliff" concerns give way to earnings focus

NEW YORK (Reuters) - Investors' "fiscal cliff" worries are likely to give way to more fundamental concerns, like earnings, as fourth-quarter reports get under way next week.Financial results, which begin after the market closes on Tuesday with aluminum company Alcoa , are expected to be only slightly better than the third-quarter's lackluster results. As a warning sign, analyst current estimates...

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Fed officials suggest possible end to asset purchases in 2013

SAN DIEGO (Reuters) - The Federal Reserve could halt its asset purchases this year, two top Fed officials suggested on Friday, a view also gaining traction among economists at Wall Street's top financial institutions. St. Louis Fed President James Bullard, a voting member of the Fed's monetary policy panel in 2013, said a drop in the unemployment rate to 7.1 percent...

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Just Explain It: Why the Fiscal Cliff May Trigger a Recession

Lawmakers in Washington appear to be making little to no progress in avoiding the impending so-called fiscal cliff.  House Speaker John Boehner, R-Ohio, said Friday the negotiations are "almost nowhere." On Thursday Boehner rejected a proposal from the Obama administration saying that the Democrats need to "get serious about real spending cuts."President Obama's offer continues to call for higher...

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Retailers report higher December sales

A last-minute surge in spending saved the holiday shopping season.Major retailers including Costco, Gap and Nordstrom on Thursday reported better-than-expected revenue in December. That comes as a relief for stores, which can make up to 40 percent of their annual revenue in the last two months of the year.Americans spent cautiously early in the season as the Northeast recovered from Superstorm Sandy....

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GM could face $918 million hit from bankruptcy-related lawsuit

A U.S. bankruptcy judge could soon rule on whether the 2009 government-led restructuring of General Motors Co improperly favored hedge funds, and an adverse ruling could cost the automaker nearly $1 billion.Judge Robert Gerber must decide whether a "lock-up agreement" in the restructuring sent $367 million to a group of hedge fund noteholders at the expense of other creditors.A trust representing...

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Private sector job gains offer hope for labor market

WASHINGTON (Reuters) - Private-sector employers shrugged off a looming budget crisis and stepped up hiring in December, offering further evidence of underlying strength in the economy as 2012 ended.While other data on Thursday showed an increase in the number of Americans filing new claims for unemployment benefits, the trend remained consistent with steady job growth."The underlying economy has momentum,...

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US job market resilient despite budget fight

The U.S. job market showed resilience in three reports Thursday, suggesting it may be able to withstand a federal budget battle that threatens more economic uncertainty in coming months.A survey showed private hiring increased last month, while layoffs declined and applications for unemployment benefits stayed near a four-year low. The data led some economists to raise their forecasts for December...

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Major banks close to big settlement on home loans

U.S. regulators are close to securing another multibillion-dollar settlement with the largest banks to resolve allegations that they unlawfully cut corners when foreclosing on delinquent borrowers, a source familiar with the talks said.The settlement with five big banks would be part of a larger deal that the Office of the Comptroller of the Currency hopes will include 14 banks and total about $10...

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Oil rises as 'cliff' consensus appears close

 Oil prices rose Monday as U.S. political leaders moved toward averting the "fiscal cliff" just hours before the deadline.President Barack Obama said Monday afternoon that a deal to avert the cliff — a series of automatic tax increases and spending cuts set to take effect starting Tuesday — was in sight but not yet finalized.Republicans and Democrats are still at an impasse over whether to put...

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Wall Street ends 2012 riding high on "cliff" deal optimism

 U.S. stocks closed out 2012 with their strongest day in more than a month, putting the S&P 500 up 13.4 percent for the year, as lawmakers in Washington closed in on a resolution to the "fiscal cliff" negotiations.The S&P 500's gain for the year marks its best performance since 2009, as stocks navigated through debt crises in Europe and the United States that dominated the headlines....

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Stocks shoot up as investors bet on 'cliff' deal

The stock market shot higher on Monday even as the "fiscal cliff" neared. By the time trading ended, Republicans and Democrats still hadn't reached a budget compromise — but investors were betting that they would.It was a dramatic day on what turned out to be a strong year for stocks. The Standard & Poor's 500 index rose 13.4 percent for the year, after finishing flat in 2011. It was the index's...

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Minimum wage gap grows wider between states

With a bump in the Washington state minimum wage to $9.19 an hour, high school student Miranda Olson will edge closer to her goal of buying the black Volkswagen Beetle she's been researching online.Olson is only able to pick up part-time hours working at a cafe after classes and on weekends. But the extra pennies she'll earn in 2013 will add up over the coming weeks and months."It's not much, but...

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Netflix streaming service back online after outage

Those hoping to spend the holiday watching streaming video from Netflix can now get back in front of their TVs, tablets and PCs after a Christmas Eve outage.A Netflix Inc. spokesman said by email Tuesday morning that the service has been fully restored.The outage affected customers in the Americas starting around 12:30 p.m. PST on Monday. The company, which is based in Los Gatos, Calif., blames problems...

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