en-us Reuters) - U.S. stocks fell on Thursday after data showed the vast U.S. services sector unexpectedly shrank in November and investors worried that Friday's non-farm payrolls report may show the recovery is sluggish.Stocks sold off going into the close, led by a slide in financials, as...]]> Thu, 03 Dec 2009 15:15:13 -0800 ANF BAC CMCSA GE TTWO TGT ANF,BAC,CMCSA,GE,TTWO,TGT Reuters) - Luxury homebuilder Toll Brothers Inc TOL posted a wider fourth-quarter loss, but said it was seeing some signs of recovery from a declining cancellation rate and improved pace of contract signings.Fourth-quarter net loss was $111.4 million, or 68 cents a share, compared with a loss of $78.8 million,...]]> Thu, 03 Dec 2009 05:01:25 -0800 TOL TOL Reuters) - Corporate executives expect a value-added tax to be considered by the U.S. Congress in the next five years, according to a survey by tax and accounting firm KPMG released on Thursday.The poll conducted by KPMG of 600 executives at a cross section of U.S. domestic...]]> Thu, 03 Dec 2009 05:01:06 -0800 Reuters) - General Motors Co's GM management team was "surprised" and "saddened" by the sudden departure of Chief Executive Fritz Henderson this week, GM's Vice Chairman Bob Lutz said on Wednesday."I think it's fair to say that we were totally surprised," Lutz told reporters at the Los Angeles...]]> Wed, 02 Dec 2009 20:00:19 -0800 GMGMQ GMGMQ Reuters) - Bank of America Corp BAC has reached an agreement with the U.S. government to repay its $45 billion of bailout funds in the next few days, the company said on Wednesday.The Charlotte, North Carolina-based banking giant is expected to sign the documents repaying its Troubled Asset...]]> Wed, 02 Dec 2009 15:15:21 -0800 BAC BAC Reuters) - U.S. Treasury Secretary Timothy Geithner said on Wednesday there was a good case to let some firms use derivatives with little scrutiny for business purposes, but that most trading should face stiffer rules.Renewing a push to tighten regulation of over-the-counter derivatives, Geithner...]]> Wed, 02 Dec 2009 10:00:32 -0800 Reuters) - Government-owned Dubai World will meet its main creditors next week to discuss a request to delay payment on $26 billion in debt that has shaken global markets and confidence in the Gulf Arab business hub.The meeting would be the first formal encounter...]]> Wed, 02 Dec 2009 05:00:28 -0800 Reuters) - Gold hit record highs at $1,216.75 an ounce in Europe on Wednesday as investors bet on higher prices, with funds lengthening positions due to expectations for a fresh leg of dollar weakness and more central bank buying.The metal also reached all-time highs in euro and...]]> Wed, 02 Dec 2009 02:30:36 -0800 Reuters) - French media group Vivendi VIV will not receive any cash upfront from a $5.8 billion sale of its stake in broadcast group NBC Universal to majority owner General Electric GE, the Financial Times reported.The FT, citing people close to the situation, said U.S. conglomerate GE would delay...]]> Wed, 02 Dec 2009 02:00:12 -0800 CMCSA GE CMCSA,GE Reuters) - Wells Fargo & Co said on Tuesday that it would fold up 122 California branches due to its takeover of Wachovia Corp last year, the Los Angeles Times reported.The closures, scheduled to occur in April, will involve shutting down 101 Wachovia offices and 21 Wells Fargo locations, the...]]> Wed, 02 Dec 2009 01:45:45 -0800 WB WFC WB,WFC Reuters) - Dubai World's creditors have formed a committee comprising six banks that will meet with the troubled state-controlled conglomerate next week, a bank executive familiar with the matter said on Wednesday.The committee includes two United Arab Emirates banks UAE and four British banks -- Standard Chartered STAN,...]]> Wed, 02 Dec 2009 01:45:23 -0800 STAN STAN Reuters) - General Motors Co's chief executive Fritz Henderson abruptly resigned on Tuesday, after the company's board decided the automaker needed to push its restructuring faster under new leadership.Henderson was asked by the board to step down at a meeting in Detroit after being...]]> Tue, 01 Dec 2009 22:00:58 -0800 GMGMQ GMGMQ Reuters) - Gold surged to an all-time high above $1,200 an ounce on Wednesday, hitting a record for a second straight day, and Asian stocks advanced as investors chased riskier assets offering higher returns.Spot gold rose 1 percent to $1,208.70 amid a broad rally in commodities...]]> Tue, 01 Dec 2009 22:00:33 -0800 Reuters) - McDonald's Corp MCD Chief Operating Officer Ralph Alvarez, who was widely believed to be in line for the fast-food chain's top job, will retire on December 31 due to health reasons, the company said on Tuesday."Seven orthopedic surgeries and years of chronic pain culminating...]]> Tue, 01 Dec 2009 18:45:45 -0800 MCD MCD Reuters) - U.S. auto sales edged higher in November, led by an outsized gain for Hyundai Motor Co and mixed results for rivals in a trend automakers said pointed to a grudging recovery in the U.S. economy.Hyundai posted a 46 percent gain in...]]> Tue, 01 Dec 2009 14:00:39 -0800 F GMGMQ 11760 F,GMGMQ,11760 Reuters) - The U.S. Federal Reserve must be prepared to raise interest rates if needed before the jobless rate has fallen to an "acceptable level", or risk losing its inflation-fighting credibility, a senior Fed official said on Tuesday.Philadelphia Federal Reserve Bank President Charles Plosser said...]]> Tue, 01 Dec 2009 13:45:46 -0800 Reuters UK) - U.S. auto sales edged higher in November, led by an outsized gain for Hyundai Motor Co and mixed results for rivals in a trend automakers said pointed to a grudging recovery in the U.S. economy.Hyundai posted a 46 percent gain...]]> Tue, 01 Dec 2009 12:45:21 -0800 F GMGMQ F,GMGMQ Reuters) - The U.S. manufacturing sector grew for the fourth straight month in November, though at a slower pace, and questions remain about the staying power of the incipient economic recovery.Signs the housing market was bouncing back in October were also tempered by a flat reading...]]> Tue, 01 Dec 2009 12:30:18 -0800 Reuters) - It is a good sign that many of the Federal Reserve's emergency facilities are winding down organically as the economy recovers and markets are no longer reliant on them, a senior Fed official said on Tuesday.Philadelphia Federal Reserve Bank President Charles Plosser, answering reporters' questions...]]> Tue, 01 Dec 2009 11:31:22 -0800 Reuters) - Gulf markets dropped again on Tuesday, taking little comfort from Dubai World's plan to restructure about $26 billion of debt and despite reassurances on economic resilience from the rulers of Abu Dhabi and Dubai.Dubai stocks fell a further 5.6 percent and the...]]> Tue, 01 Dec 2009 10:30:18 -0800