Target profit up, cautious on holiday
Target Corp reported a higher-than-expected quarterly profit on Tuesday, but remained cautious about the fourth quarter given a budding holiday season price war. Read Full Article here.
Obama to launch cross-country economic tour
U.S. President Barack Obama will hold a forum on job creation with U.S. business leaders on December 3 and then embark on a cross-country tour to discuss economic recovery, the White House said on Monday. Read Full Article here.
Producer prices point to benign inflation
U.S. producer prices rose more slowly than forecast in October and unexpectedly fell excluding food and energy, a government report showed on Tuesday, pointing to tame inflation pressures. Read Full Article here.
Big bank mergers unlikely until rules clear-Nordea
Big European banks are unlikely to merge for the coming months until new capital and liquidity rules become clear, the chief executive of Nordea Bank said on Tuesday. Read Full Article here.
Gruebel vows to return UBS to profit, in time
UBS boss Oswald Gruebel set an ambitious target for annual pretax profit of $15 billion, vowing to rebuild the loss-making bank and win back clients after the subprime crisis and a bitter U.S. tax row. Read Full Article here.
Dollar funding costs ease, Libor hits fresh low
Bank-to-bank dollar funding costs fell on Tuesday with the benchmark rate hitting yet another record low as central banks signalled they were in no hurry to unwind extraordinary stimulus measures. Read Full Article here.
Qualcomm CEO pins hopes on China, smartbooks
Qualcomm, the world's biggest chip maker, said on Tuesday that it expects to sell its TD-SCDMA chips in mainland China within the next year. Read Full Article here.
Banks sense danger, warn Congress on breakup power
Some of the world's largest financial firms on Monday urged a top U.S. lawmaker not to pursue big bank break-up legislation, an idea attracting interest in Congress and causing alarm on Wall Street. Read Full Article here.