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  • Industrials lead sharp jump on Wall Street

    Traders work on the floor of the New York Stock ExchangeBy Yasmeen Abutaleb NEW YORK (Reuters) - U.S. stocks soared on Thursday, with major indexes up more than 1.5 percent in a broad rally, as strong results from industrial bellwethers reassured investors that corporations continue to fare well despite concerns about global economic growth. The advance extended a recent bout of strength for equities. The S&P 500 has posted a gain of 0.9 percent or more in four of the past five sessions, putting it less than 3 percent from its record close. After a four-week string of declines, the S&P is up 3. ...


  • GM posts higher-than-expected profit on strong North American demand

    A man walks past a row of General Motors vehicles at a Chevrolet dealership on Woodward Avenue in Detroit, MichiganBy Ben Klayman and Bernie Woodall DETROIT (Reuters) - General Motors Co on Thursday reported a higher-than-expected profit in the third quarter on strong demand for its redesigned full-size pickup trucks in North America. "Clearly, high transaction prices - the new trucks and SUVs are more profitable than the ones they replace - that certainly helps," GM Chief Financial Officer Chuck Stevens said at the company's Detroit headquarters. ...


  • U.S. jobs market holds firm; factory activity slows a bit

    Richard O'Driscoll and his guide dog Maxwell leave the fourth Annual Job Fair for Individuals with Visual Impairments in CambridgeBy Lucia Mutikani WASHINGTON (Reuters) - New claims for U.S. unemployment benefits held below 300,000 for a sixth straight week last week, suggesting the labor market was shrugging off jitters over a slowing global economy. Weakening growth in China and the euro zone, however, appears to be impacting the manufacturing sector, with other data on Thursday showing factory activity at a three-month low in early October. Even so, the sector was still moving forward at a healthy clip. ...


  • Apple ponders sapphire options, leaves door open for GT

    The Apple logo is lit on the first day of sale for the iPhone 6 and iPhone 6 Plus, in Sydney(Reuters) - Apple Inc said on Thursday it is studying options for sapphire supply and might work again with GT Advanced Technologies Inc if the distressed supplier can reduce production costs for the scratch-resistant material. GT, a former stock market darling and supplier to Apple, filed for bankruptcy on Oct 6 in a stunning turn of events for a company whose fortunes looked bright only a few months ago. Apple said on Thursday that GT's "ambitious" vision of sapphire manufacturing was ultimately not quite ready for primetime. ...


  • Citigroup to revisit U.S. court over Argentine bond payments

    The Citibank logo is pictured at its Nicaragua headquarters in ManaguaBy Nate Raymond NEW YORK (Reuters) - A U.S. judge has scheduled a Dec. 2 hearing to weigh whether or not Citigroup Inc can process an expected interest payment by Argentina on bonds issued under its local laws following its 2002 default. The hearing before U.S. District Judge Thomas Griesa in Manhattan, set out in an order issued late Wednesday, would be less than a month before a Dec. 31 interest payment by Argentina on the bonds is due. ...


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