A former Goldman Sachs trader who pleaded guilty to fraudulently building a futures trade should repay $118 million to his former employer, U.S. prosecutors said.» Read More
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.
*Chicago Fed warned of need for "kill switch" in 2010* SEC can't impose limits on HFT without consensus-official* Some traders are trying to build HFT-free trading zone* Retail investors looking for SEC to lead on HFT reform By Emily Flitter and Sarah N. Lynch. Only now is the SEC getting around to taking a closer look at some of those issues.
Benchmark oil dropped 59 cents to end at $91.89 per barrel in New York. Brent crude, which is used to price international varieties of oil, fell 62 cents to $111.57 per barrel in London. At the pump, the national average for gasoline was unchanged at $3.78 per gallon, according to AAA, Wright Express and the Oil Price Information Service.
NEW YORK, Oct 2- A Florida fund manager admitted on Tuesday to tricking investors out of $13 million by falsely telling them he had put their money in coveted shares of Facebook Inc and Groupon Inc before the Internet companies went public.
NEW YORK-- Analysts for Cowen and Co. started coverage of a group of companies that make tests used to diagnose infectious diseases, assigning top ratings to companies including Cepheid, Hologic Inc., and Meridian Bioscience Inc..
NEW YORK, Oct 2- The U.S. State Department has said it believes American journalist Austin Tice, who disappeared in Syria in August, is alive and being held by the Syrian government.
*Unemployment rate likely edged up to 8.2 percent* Average hourly earnings seen nudging up 0.2 percent* Report will underscore Fed's anxiety over weak jobs market By Lucia Mutikani.
NEW YORK, Oct 2- U.S. natural gas futures ended higher on Tuesday for a sixth day, as cool forecasts for the Northeast and Midwest and rising demand offset early profit taking and technical selling after recent strong gains.
NEW YORK-- The financial losses are starting to pile up as a result of the NHL lockout. In speaking to reporters after talks finished up for the day between the NHL and the NHLPA, Deputy Commissioner Bill Daly estimated that the league has lost $100 million in revenues from the canceled preseason.
NEW YORK-- An analyst cut his rating on shares of Starwood Hotels& Resorts Worldwide Inc. on Tuesday because of the weaker global economy. Raymond James' William Crow lowered his rating to "Outperform" from "Strong Buy" for the operator of the Sheraton, Westin, W and St.
*Deutsche Telekom shares up 1.3 pct, MetroPCS up 17 pct. By Edward Taylor and Nadia Damouni FRANKFURT/ NEW YORK, Oct 2- Deutsche Telekom. is in talks to merge its T-Mobile USA unit with MetroPCS and take a majority stake in the combined wireless service provider, the German company said on Tuesday.
--We revised our outlook on Ocwen Loan Servicing LLC to stable as a residential mortgage subprime, special, and subordinate-lien servicer and affirmed our ABOVE AVERAGE rankings on the company in these categories.
Treasuries prices ended slightly higher on Tuesday as investors waited on key employment data scheduled for later this week and as Spain appeared to be on track, if not yet ready, to get assistance to ease its debt crisis.
CoreLogic, a private real estate data provider, said U.S. home prices rose 4.6 percent in August from a year ago, the largest year-over-year increase in more than six years. Prices are rising in most parts of the country, CoreLogic said. _ PulteGroup Inc., up 18 cents, or 1.2 percent, to $15.49.
Brent November crude fell 62 cents, or 0.55 percent, to settle at $111.57 a barrel.
NEW YORK-- A trial will be held next year for five of Bernard Madoff's former employees who are accused of conspiring in history's biggest Ponzi scheme. The Oct. 7, 2013, trial date was set Tuesday by a federal judge in Manhattan. Madoff is serving a 150- year prison sentence in North Carolina.