Stocks could sputter with Black Friday eyed
NEW YORK (Reuters) - U.S. stocks could sputter next week as volumes dry up in holiday-shortened trading and with a slew of economic reports likely to illustrate the recovery is still fragile.
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Hershey mulls $17 billion solo bid for Cadbury: source
PHILADELPHIA (Reuters) - U.S. chocolate maker Hershey Co is considering launching a bid of at least $17 billion for British chocolatier Cadbury Plc as it seeks to trump a hostile offer by Kraft Foods Inc, a source familiar with the matter said on Friday.
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Ciena takes Nortel unit auction to 2nd day: sources
NEW YORK (Reuters) - The auction for Nortel Network's optical networking and carrier ethernet business went into a second day on Saturday, after Ciena <CIEN.O> called for a break in the auction late on Friday, two sources said.
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Bank of America CEO Lewis may delay retiring: report
NEW YORK (Reuters) - Bank of America Corp <BAC.N> Chief Executive Kenneth Lewis has said he would consider postponing his retirement if directors need more time to find a successor or smooth the transition to the next CEO, the Wall Street Journal reported on Friday.
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GE-Vivendi talks over NBC Universal stalled: report
NEW YORK (Reuters) - Talks between General Electric and Vivendi over the future of NBC Universal have stalled, the New York Times reported on Friday night.
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Time Warner, News Corp reported interested in MGM
NEW YORK (Reuters) - News Corp, Time Warner Inc and Qualia Capital LLC are interested in buying Hollywood's Metro-Goldwyn-Mayer film studio, home of the James Bond movies, Bloomberg News reported on Friday.
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U.S. Q3 seen revised down on widening trade deficit
WASHINGTON (Reuters) - The U.S. economy's return to growth in the third quarter was less brisk than previously thought as the trade deficit worsened and companies still aggressively cut inventories, a Reuters survey predicted.
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Delta says SkyTeam could invest more in JAL: report
NEW YORK (Reuters) - The chief executive of Delta Air Lines Inc <DAL.N> says the SkyTeam alliance of global carriers would be willing to invest more than its proposed $1.02 billion in Japan Airlines <9205.T>, the Wall Street Journal reported.
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Paulson's golden investors have to commit $10 million
BOSTON (Reuters) - Investors tempted to put money into star hedge fund manager John Paulson's new gold portfolio will have to commit at least $10 million and leave the money locked up for at least one year, according to a prospectus.
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Black Friday deals may not signal retail comeback
CHICAGO (Reuters) - When the U.S. holiday shopping season kicks off on the day after Thanksgiving, retailers can expect to see millions of less frightened but even more bargain hungry customers cross their thresholds.
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Cautious optimism as job losses slow
WASHINGTON (Reuters) - The pace of job losses slowed in many U.S. states in October, and the unemployment rate slipped in hard-hit Michigan, the Labor Department said on Friday, hinting the recession may be easing in some areas.
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Rio's Cloud Peak down in debut, others fare better
NEW YORK (Reuters) - Investors bet on growth in the IPOs of a Chinese hotel chain and an online education company on Friday, but were less enthusiastic about a spin-off of mining giant Rio Tinto.
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Stocks dip as investors fret about recovery
NEW YORK (Reuters) - U.S. stocks fell for a third straight day on Friday as investors took weaker-than-expected results from computer maker Dell <DELL.O> and homebuilder D.R. Horton <DHI.N> as a further sign that the recovery would be anemic.
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Ex-Vivendi CEO Messier testifies: Losses not fraud
NEW YORK (Reuters) - Former Vivendi CEO Jean-Marie Messier told a U.S. jury he "never, never, never" committed fraud as he took the stand on Friday in a civil trial pitting international shareholders against the French conglomerate and former top executives.
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U.S. lawmakers urged to drop clearinghouse owner cap
NEW YORK (Reuters) - NYSE Euronext <NYX.N>, LCH.Clearnet, BATS Global Markets and other firms partnered with banks have urged two U.S. legislators to drop a proposed "rigid" cap on dealer ownership of clearinghouses, according to a letter sent this week.
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Existing home sales seen at highest since July 2007
New York (Reuters) - Sales of existing U.S. homes likely rose for second consecutive month in October, reaching their highest level since July 2007, according to a Reuters poll, as buyers scrambled to take advantage of greater affordability and a first-time home buyer tax credit.
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D.R. Horton results miss estimates
NEW YORK (Reuters) - D.R. Horton Inc <DHI.N>, the No. 2 U.S. homebuilder, reported a much larger-than-expected quarterly loss on Friday, sending its shares down 13.5 percent even though it also said orders increased.
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Stocks ripe for defensive switch as rebound matures
LONDON (Reuters) - Shares in telecoms and utilities have returned to the top of European equity investors' menu, signaling that a shift away from outperforming financials and automakers may be afoot as the economic recovery matures.
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Growth, valuation to keep Europe share rally alive
LONDON (Reuters) - European equities have a lot more ammunition to fire in 2010 even after an eight-month bull run to new highs, as improving economic data and impressive earnings in the third quarter tempt investors to grab risky assets.
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Ferrero, Hershey weigh Cadbury split - source
PHILADELPHIA/LONDON (Reuters) - Cadbury Plc <CBRY.L> suitors Ferrero and Hershey Co <HSY.N> have weighed breaking the UK confectioner up into separate businesses as part of a friendly, all-cash bid, a source familiar with the situation said on Friday.
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