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| LinkedIn's conservative forecast gives pause to sizzling stock surge Tuesday, Oct 29, 2013 08:07 PM PDT  By Gerry Shih SAN FRANCISCO (Reuters) - LinkedIn Corp issued a conservative revenue forecast through the end of the year that damped a sizzling run in its stock price, taking the shine off an upbeat performance at the professional social network in the third quarter. The company said it expected between $415 million and $420 million in revenue for the final three months of the year, lower than the $438 million expected by analysts polled by Thomson Reuters I/B/E/S. LinkedIn said fourth-quarter growth will not be as impressive as a year ago when it rolled out new features. ... Full Story | Top |
| Asian shares creep ahead, count on Fed being benign Tuesday, Oct 29, 2013 07:54 PM PDT  By Wayne Cole SYDNEY (Reuters) - Asian share markets took heart from record highs in U.S. stocks on Wednesday as investors wagered the Federal Reserve would rock no boats at its policy meeting and leave stimulus in place for the next few months at least. Japan's Nikkei led the way with a gain of 1.2 percent, while Australian shares added 0.4 percent and Shanghai 0.5 percent. MSCI's index of Asia-Pacific shares outside Japan crept up 0.3 percent. ... Full Story | Top |
| Senate confirms new U.S. top telecom regulator Tuesday, Oct 29, 2013 07:48 PM PDT  By Alina Selyukh WASHINGTON (Reuters) - The U.S. Senate on Tuesday approved Tom Wheeler to be the new chairman of the Federal Communications Commission (FCC), enabling the agency to start operating under a permanent leader after a holding period of several months. Republican Senator Ted Cruz said earlier on Tuesday he had lifted his block on the nomination after meeting with Wheeler and receiving affirmation that the FCC would not pursue new disclosure rules for sponsors of political ads. ... Full Story | Top |
| Exclusive: Merck works toward bringing Zilmax back to the U.S., Canada market Tuesday, Oct 29, 2013 07:48 PM PDT  By P.J. Huffstutter CHICAGO (Reuters) - U.S. drugmaker Merck & Co told Reuters on Tuesday that it plans to bring its Zilmax animal feed additive back for sale in the United States and Canada, after it completes an audit of how the muscle-building cattle feed product is used in the agriculture sector. A spokeswoman for the company's Merck Animal Health unit said that while "it is too early to speculate on when we will resume sales for Zilmax in the U.S. and Canada," Merck was pushing forward with its quality control program to ensure the weight-adding drug is being properly used. ... Full Story | Top |
| Google takes secrecy to new heights with mystery barge Tuesday, Oct 29, 2013 07:16 PM PDT  By Ronnie Cohen and Alexei Oreskovic SAN FRANCISCO (Reuters) - How badly does Google want to keep under wraps a mysterious project taking shape on a barge in San Francisco Bay? Badly enough to require U.S. government officials to sign confidentiality agreements. At least one Coast Guard employee has had to sign a non-disclosure agreement with the Internet giant, said Barry Bena, a U.S. Coast Guard spokesman. Another person who would only identify himself as an inspector for a California government agency had to do the same. ... Full Story | Top |
| U.S. consumer confidence at six-year high, Europeans also more upbeat - survey Tuesday, Oct 29, 2013 07:06 PM PDT  By Susan Fenton LONDON (Reuters) - Consumer confidence in the United States reached a six-year high in the third quarter, as prospects for jobs and personal finances improved, and also rose sharply in Europe, a global survey showed. Americans were among the most bullish consumers in a quarterly survey by global information and insights company Nielsen, reflecting growing confidence that the world's biggest economy is a on a sustainable growth path. U.S. stockmarkets have risen to record highs, creating a wealth effect that has also made consumers more willing to spend. ... Full Story | Top |
| In Boston speech, Obama seeks to reset ideas about his health law Tuesday, Oct 29, 2013 06:10 PM PDT  By Roberta Rampton WASHINGTON (Reuters) - After four rocky weeks while his landmark health insurance law has been disparaged as poorly managed, expensive and disappointing, President Barack Obama will travel to Boston on Wednesday to try to reset expectations about Obamacare. Obama is scheduled to deliver a speech in 271-year-old Faneuil Hall, where some of the seeds of the American revolution took root - and where on April 12, 2006, the start of another historic shift began. ... Full Story | Top |
| Obama under fire as Americans lose prior health plans Tuesday, Oct 29, 2013 05:43 PM PDT  By Roberta Rampton WASHINGTON (Reuters) - President Barack Obama is facing fresh attacks for his pledge that Americans who like their current healthcare plans can keep them under Obamacare after reports that thousands of Americans facing cancellation notices. Accusations that the pledge was misleading are potentially a deeper threat to Obama than the website glitches that have plagued Healthcare.gov since its October 1 launch and allowed only a trickle of people to sign up on new federal insurance exchanges. ... Full Story | Top |
| Bankrupt San Bernardino in showdown with California pension fund over arrears Tuesday, Oct 29, 2013 05:40 PM PDT  By Tim Reid RIVERSIDE, California (Reuters) - The bankrupt city of San Bernardino and its largest creditor, the California Public Employees' Retirement System (Calpers), are set for a showdown over the city's $17 million in pension arrears, a important milestone in a case the bankruptcy judge says could set a national precedent. After a Tuesday hearing in the case, an attorney for the Calpers - America's largest public pension fund with assets of $277 billion - said San Bernardino cannot be allowed to get away with failing to pay the pension fund for an entire year. ... Full Story | Top |
| China's anti-pollution drive risks running out of gas Tuesday, Oct 29, 2013 05:39 PM PDT  By Adam Rose and David Stanway BEIJING (Reuters) - A chronic shortage of natural gas is hurting China's plan to move away from burning coal to heat homes and offices, raising the prospect of more choking air pollution this winter and beyond. The problem is worst in northern China, where air pollution mainly caused by decades of reliance on coal has lowered life expectancy by an estimated 5.5 years compared to the south, Chinese and international researchers said in July. ... Full Story | Top |
| Brazil suspends trade in shares of university operator GAEC Tuesday, Oct 29, 2013 05:26 PM PDT SAO PAULO (Reuters) - Brazil's securities regulator CVM on Tuesday suspended trading in shares of education company GAEC Educação SA in the second day of trading since its $213 million initial public offering. The CVM said it handed down the suspension due to statements attributed to the company's chairman, Ozires Silva, which were published in the local newspaper Valor Economico on Monday. GAEC had not yet submitted a closing statement for its IPO, making statements to the media off limits by law. ... Full Story | Top |
| Pentagon sees 'sufficient' progress to boost fiscal year 2015 F-35 output Tuesday, Oct 29, 2013 05:15 PM PDT  By Andrea Shalal-Esa WASHINGTON (Reuters) - The Pentagon this week said the Lockheed Martin Corp F-35 program had made sufficient improvement to plan for higher production in fiscal year 2015, but contract awards would be tied to progress on the fighter jet's software, reliability and other issues. "Program progress is sufficient for the department to budget for an increase in the production rate in fiscal year 2015," Frank Kendall, undersecretary of defense for acquisition, technology and logistics, wrote in a memorandum dated October 28 and obtained by Reuters on Tuesday. ... Full Story | Top |
| SEC sues investor over alleged Carter's insider-trading scheme Tuesday, Oct 29, 2013 05:13 PM PDT  By Jessica Dye (Reuters) - The Securities Exchange Commission filed a civil complaint Tuesday against a retired hedge-fund investment consultant and market analyst who allegedly participated in an insider trading scheme involving Atlanta-based clothing marketer Carter's Inc. Dennis Rosenberg, 70, was able to trade in advance of marketing-moving news from Carter's based on tips received from a former executive at the company between 2005 and 2010, according to the complaint in federal court in Georgia. ... Full Story | Top |
| Sainsbury's takes price comparison spat with Tesco to high court Tuesday, Oct 29, 2013 05:05 PM PDT  By James Davey LONDON (Reuters) - Supermarket J Sainsbury will take its spat over price comparisons with Tesco to Britain's high court, challenging a ruling by the advertising watchdog in favor of its rival. Britain's supermarkets are battling intensely for market share in tough economic conditions. Advertising is a major battleground. Earlier this year, Sainsbury's complained to the Advertising Standards Authority (ASA) over market leader Tesco's "Price Promise" scheme. ... Full Story | Top |
| Government considers 0.75 percent cap on workplace pension fund charges Tuesday, Oct 29, 2013 05:05 PM PDT  LONDON (Reuters) - Britain's government said on Wednesday it was considering imposing a 0.75 percent cap on management fees charged by the private pension funds into which millions of workers are being automatically enrolled. Over the next five years, all workers aged between 22 and state retirement age who earn at least 9,440 pounds ($15,200) a year will be enrolled into a private pension scheme selected by their employer, unless they are already in a scheme or opt out. ... Full Story | Top |
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