JPMorgan Chase & Co and Bank of America are planning to hike salaries of junior employees by at least 20 percent, people familiar with the proceedings said.» Read More
NEW YORK, Oct 2- U.S. crude oil inventories rose less than expected last week while oil product stockpiles fell slightly, data from the American Petroleum Institute showed on Tuesday. Crude inventories rose 462,000 barrels in the week to Sept. 28, compared with analysts' expectations for a build of 1.5 million barrels, the API reported.
*MSCI says switch covers $24 million of annual operating income. Oct 2- Vanguard Group, the largest U.S. mutual fund manager, said on Tuesday it was switching 22 of its biggest index funds away from benchmarks provided by MSCI Inc in order to cut costs.
LONDON, Oct 2- Trader Glencore has formally notified the European Commission of its $33 billion plan to take over miner Xstrata, sources familiar with the matter said, after months of preliminary talks designed to pave the way for a swift approval.
NEW YORK-- Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:. MetroPCS Communications Inc., up $2.05 at $13.57. Deutsche Telekom AG, parent company of cellphone carrier T-Mobile USA, said it is in talks to buy smaller rival MetroPCS.
NEW YORK, Oct 2- U.S.-listed shares of foreign companies rose slightly on Tuesday in a relatively quiet session, boosted by ongoing expectations of a bailout for Spain. The BNY Mellon index of leading European ADRs rose 0.6 percent. In Greece, Coca Cola Hellenic rose 2.1 percent to $19.25 per share and the National Bank of Greece gained 5.5 percent to $2.49 a share.
NEW YORK, Oct 2- Xyratex Ltd:.
NEW YORK, Oct 2- Dutch brewer Heineken raised US $3.25 bn from a four-part bond offering in style by establishing a new record for the lowest coupon paid by a Triple B issuer for three- and five-year bonds. The company was in the market to take out a EUR2.5bn bridge loan for its acquisition of Asia Pacific Breweries.
NEW YORK-- Drug and medical device maker Covidien PLC said Tuesday it completed its $100 million purchase of CNS Therapeutics. Covidien announced it was buying CNS on Sept. 24. CNS is now part of Covidien's Mallinckrodt pharmaceuticals business.
*Manhattan office vacancy rate ticks up-Cushman& Wakefield. NEW YORK, Oct 2- The Manhattan office vacancy rate ticked up in the third quarter and average rent was essentially flat, as demand for office space remained soft, real estate services company Cushman& Wakefield said on Tuesday.
NEW YORK, Oct 2- The chairman of the U.S. board that sets accounting standards for state and local governments will retire next June, a year ahead of the end of his term and as controversial new standards for pensions start kicking in.
WASHINGTON-- The U.S. economy is looking more resilient, thanks in part to encouraging signs for the two most expensive purchases most Americans make: cars and homes. Cheap loans and a bounty of fuel-efficient models enticed people to buy new vehicles at a brisk pace last month.
NEW YORK-- The price of oil fell Tuesday as investors weighed positive U.S. economic news against ongoing concerns about Europe. On the New York Mercantile Exchange:. Benchmark crude fell 59 cents to finish at $91.89 per barrel.
The country's largest fertilizer company, Mosaic, said weak demand from China and India have hurt its profits. Mosaic, Dupont and stocks of other companies in the materials industry fell. Dupont led the Dow lower, sinking 86 cents to $49.50.
*Company was seeking offers over $35 per share* Ancestry shares trading below $30. NEW YORK, Oct 2- Permira Advisers LLP has emerged as the front-runner to take genealogy website Ancestry.com Inc.
Resorts has begun a new joint marketing program in which its gamblers and those two other Mohegan-owned casinos in Connecticut and Pennsylvania can use rewards points at any of the three destinations. The company will now let gamblers use their credits at Resorts, as well as Mohegan Sun in Connecticut and Mohegan Sun at Pocono Downs in Pennsylvania.
NEW YORK-- Shares of Fifth& Pacific slid Tuesday after the clothing maker cut its guidance due to weak sales of Juicy Couture. Moody's Investors Service said the guidance cut is bad for Fifth& Pacific's credit, but said it is not making any immediate changes to its ratings. Moody's currently has a "B2" rating on Fifth& Pacific.
NEW YORK-- Stocks are struggling to a mixed close on Wall Street after spending most of the day lower, pulled down by weakness in materials and energy companies. Mosaic blamed poor demand from China and India. Rising stocks narrowly outnumbered falling ones on the New York Stock Exchange.
Global economic growth has slowed this year, curbing fuel demand growth in Asia, Europe and the United States. The euro strengthened against the dollar a second straight session on growing expectations the euro zone's fourth-largest economy, Spain, will seek a bailout.
NEW YORK-- It's not even Halloween yet, but once again a slew of forecasters are out with sales predictions for the all-important holiday shopping season. Economists carefully study the numbers because they're an important gauge for merchants that depend on the period for up to 40 percent of their annual sales.
NEW YORK, Oct 2- U.S. stocks ended nearly flat after a volatile session on Tuesday as uncertainty over when Spain might apply for a bailout shackled a market struggling to build on gains that took the S&P 500 to its highest in nearly five years. Based on the latest available data, the Dow Jones industrial average was down 32.83 points, or 0.24 percent, at 13,482.28.