Posted: 12/01/2013 - 2 in horse-drawn Amish buggy killed in Pa. crash... Villagers rush to aid rural Alaska crash survivors... Trinity network: Televangelist Paul Crouch dies... Thanksgiving takes more Black Friday sales... White House: On track for health care website goal... Pioneering offshore wind project faces deadlines... You can trust us on this, but you probably won't - Only 2 percent say they trust the government to do what's right nearly all of the time...
Posted: 11/27/2013 - Did you know that toilets are the main source of water in your home? Replacing your old toilet with a new, efficient one can help reduce your toilet's water usage by up to sixty percent. But a toilet is not just a toilet these days. .
By Chuck Mikolajczak NEW YORK (Reuters) - Stocks advanced modestly on Monday after positive Chinese trade and inflation data, while remarks by top Federal Reserve officials about the outlook for slowing the Fed's stimulus had little impact on the market. Richmond Fed President Jeffrey Lacker, an outspoken critic of the Fed's monetary easing, said further monetary stimulus is unlikely to have a lasting effect on the economy and would make it harder to eventually wind it down. St. Louis Fed Bank President James Bullard said "improvements in the U.S. job market make reductions to the Federal Reserve's massive bond-buying program more likely." The labor market's gains suggest the U.S. central bank could start small tapering and reassess in the first half of 2014. Dallas Fed Bank President Richard Fisher is due to speak twice today in Chicago.
(Reuters) - Improvements in the U.S. job market make reductions to the Federal Reserve's massive bond-buying program more likely, a top Fed official said on Monday, suggesting the central bank could start small and reassess in the first half of 2014. St. Louis Fed President James Bullard said that the probability of easing back the pace of asset purchases had increased and one possible reaction to a recent run of upbeat data was a small taper at "the upcoming meeting." "A small taper might recognize labor market improvement while still providing the (Fed's policy-setting) committee the opportunity to carefully monitor inflation during the first half of 2014," he said in slides prepared for delivery to the CFA Society St. Louis. "Should inflation not return toward target, the committee could pause tapering at subsequent meetings." The Fed has been buying $85 billion in Treasuries and mortgage-backed securities since September 2012 to boost investment, growth and hiring. Still, he said, inflation has lagged below the Fed's 2 percent target for reasons that are hard to pinpoint.
Sysco Corp will buy US Foods Inc for about $3.5 billion from its private equity owners in a deal that will combine the top two U.S. food distributors and create a company commanding at least a quarter of the $235 billion North American market. Sysco, whose shares jumped as much as 25 percent to a record high on Monday, touted the combination of its supply chain expertise with the strong consumer-facing technologies of US Foods as a key driver for the deal, which creates a company with revenue of $65 billion. United Natural Foods Inc , the next largest publicly listed food distributor, trades at about 14 times trailing EBITDA. Sysco, which will assume US Foods' debt of $4.7 billion, said it expected about $600 million in annual cost savings within three to four years.
By Dinesh Nair and David French DUBAI (Reuters) - Three state-owned Gulf firms are considering a joint bid for a minority stake in Occidental Petroleum Corp's Middle East and North Africa (MENA) unit, a deal that could be worth between $8 billion and $10 billion, three banking sources said. Abu Dhabi's Mubadala Development Co , Qatar Petroleum and Oman Oil Co have formed a consortium and have picked Citigroup to advise them, the sources with knowledge of the matter said on Monday. Occidental, the fourth-largest U.S. oil company, said in October it planned to sell a minority stake in its MENA operations as part of a restructuring meant to lift its valuation. Occidental and Qatar Petroleum were not immediately available for comment, while Citi and Mubadala declined to comment.
McDonald's Corp on Monday reported another sluggish month of sales at established restaurants, results that suggest the famed hamburger chain is losing U.S. market share to rivals. Same-restaurant sales in Europe, which just edges out the United States as the top generator of revenue, rose a higher-than-expected 1.9 percent, with weakness in Germany more than offset by strength in the UK, France and Russia.