Stocks fell on Thursday as worries about lawmakers finding a timely solution to the "fiscal cliff" outweighed stronger-than-expected economic data.
Industry
Budget Deficit Rises to $120 Billion in October
The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.
HSBC Settles with Invesor Over Madoff Loss
Banking group HSBC has settled a case brought by a fund over losses it suffered during the collapse of fraudster Bernie Madoff's financial empire, potentially paving the way for more claims against fund custodians.
Ally Near $4 Billion Unit Sale, GM Seen in Lead
Ally Financial Inc is nearing a deal to sell its auto financing operations in Europe and Latin America for around $4 billion, with General Motors Co emerging.
Wall Street Week Ahead: 'Fiscal Cliff' Blues May Lead to Correction
Wall Street's post-election sell-off may gather steam in the coming weeks as worries mount about the looming "fiscal cliff" and technical weakness suggests a possible correction ahead.
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The trade deficit unexpectedly narrowed in September as exports rose sharply, suggesting global demand for U.S. goods was holding up despite a debt crisis in Europe.
Private equity firm Carlyle Group LP on Thursday said the United States remained the world's best place to invest, citing low interest rates and the recovering housing market, as it reported a return to profitability in the third quarter.
Apollo Global Management Chief Executive Leon Black said on Wednesday that a U.S. tax break that benefits private equity and venture capital executives could fall victim to deficit reduction efforts after President Barack Obama's re-election.
A lawyer for Goldman Sachs urged a U.S. appeals court Wednesday to send a former employee's gender discrimination dispute to arbitration rather than allow her to proceed with a proposed class action.
Penn West Petroleum Ltd shares were down as much as 4.7 percent on Tuesday after the company fired four senior executives, including its chief operating officer.
Stocks climbed on Tuesday, the last day of trading before the election results came to a close, as investors looked forward to a resolution to the drawn-out race for the White House.
Stronger-than-expected hiring by U.S. employers in October and a small increase in the jobless rate will have a neutral or insignificant impact on U.S. presidential elections next week, according to most economists surveyed in a Reuters poll on Friday.
Goldman Sachs Group Inc named insurance executive Mark Edward Tucker as an independent director on Monday, expanding its board to a dozen directors, most of whom are independent.
World shares and commodities fell on Monday as a recent run of downbeat corporate reports cast a shadow over the economic growth outlook and markets awaited the impact of a huge U.S. hurricane.
