MARKETS / FINANCE

Striking Miners to Return to Work at Grasberg Gold Mine

Grasberg mine
Miners at Freeport Indonesia will end a month-long industrial action and blockades at the world's second-biggest copper mine if the firm scraps sanctions against striking workers and considers a five-fold pay hike, the union said on Thursday.

Hedge fund SAC Capital faces SEC probe: report

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The Securities and Exchange Commission is examining whether hedge fund SAC Capital Advisors used insider information to profit from Johnson & Johnson's takeover of Cougar Biotechnology Inc in 2009, the Wall Street Journal said, citing people familiar with the matter.
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Stock index futures seen higher

Stock index futures pointed to a higher open on Wall Street on Thursday after a guidelines document said the European rescue fund will be able to buy bonds on the secondary market.
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Euro zone rescue plans shrouded in doubt

A split between the International Monetary Fund and the European Union is threatening to delay Greece's next aid payment in another blow to European efforts to stem the debt crisis.
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BOJ chief sticks to recovery view amid euro debt

Bank of Japan Governor Masaaki Shirakawa said on Thursday that solid growth in emerging markets will continue to underpin Japan's economy, suggesting the central bank will stick to its forecast of a moderate recovery when its board meets next week.
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Euro zone wrangling hammers stocks

Doubts about the euro zone's ability to come up with a comprehensive plan to solve its debt crisis hammered equity markets and hit the euro on Thursday, underlying investor impatience with political wrangling.
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Bidders balk at Yahoo's no cross talk provision

Some potential buyers of Yahoo Inc are balking at the Internet company's demands for confidentiality that would prevent them from discussing joint bids, according to several people close to the situation.
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U.S. pushes China to explain commercial internet curbs

The United States is pressing China to explain why its national firewall blocks so many U.S. companies from providing their services via the Internet, according to a letter obtained on Wednesday that is another sign of growing trade tension between the world's two largest economies.
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AMR, pilots resume contract talks, stock hit again

American Airlines and its pilots resumed contract talks on Wednesday with the company's chief executive saying achieving the kind of labor-cost reductions management wants to nail down will not be easy.
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Euro zone chatter triggers late selloff

U.S. stocks fell on Wednesday as traders, after sitting on their hands for most of the day, jumped to sell in a hair-trigger reaction to fresh reports underscoring that Europe remains far from a solution to its debt crisis.
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UAW workers approve Ford labor deal

Hourly workers represented by the United Auto Workers ratified a labor deal with Ford Motor Co on Wednesday, leaving Chrysler as the last U.S. automaker without a finalized contract.
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Top banks accused of colluding on ATM fees

A New Jersey man sued Bank of America , JPMorgan Chase and Wells Fargo on Wednesday on behalf of ATM users, accusing the banks of colluding to fix the fees they charge customers to withdraw money.
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Economic growth crept ahead in September

The economic outlook grew dimmer in September, leading businesses to be wary of spending and of building up inventories ahead of the holiday sales season, the Federal Reserve said on Wednesday.
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Rambus jury deliberates, reviews more testimony

The jury in Rambus Inc's $4 billion antitrust lawsuit against Micron Technology Inc and Hynix Semiconductor Inc is reviewing more testimony from the trial in its fifth week of deliberations.
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Exclusive: China quizzes audit giants on documents

China's financial regulators have asked the world's biggest audit firms to urgently review their work on U.S.-listed Chinese companies and give details on information they may have provided to overseas regulators, two sources told Reuters.
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Underlying inflation pressures ease

U.S. consumer prices outside food and energy rose at their slowest pace in six months in September, a sign broad inflation pressures remained contained.
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Autos, rentals tame underlying price pressures

High food and gasoline prices kept pressure on U.S. household budgets in September, but core prices rose at their slowest pace in six months, showing inflation was still largely contained.

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