| Wall Street rises after Alcoa reports earnings Posted: 09 Jan 2013 02:01 PM PST  NEW YORK (Reuters) - Stocks rose on Wednesday, rebounding from two days of losses, as investors turned their focus to the first prominent results of the earnings season. Stocks had retreated at the start of the week from the S&P 500's highest point in five years, hit last Friday, on worries about possible earnings weakness. Shares of Alcoa Inc were down 0.5 percent to $9.08 after early gains, following the company's earnings release after the bell on Tuesday. The largest U.S. aluminum producer said it expects global demand for aluminum to grow in 2013. Herbalife Ltd stock rose 4. ...
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| As public fumes, AIG says will not sue U.S. over bailout Posted: 09 Jan 2013 02:21 PM PST  (Reuters) - Facing anger from Congress and the American people, AIG Inc said on Wednesday it would not sue the U.S. government over terms of the company's multi-billion dollar bailout. Insurer American International Group had been weighing whether to join a lawsuit filed by its former Chief Executive Hank Greenberg and his company Starr International, which owned 12 percent of AIG before its $182 billion rescue that started in 2008. Greenberg claims the rescue was unfair to shareholders and that the Federal Reserve Bank of New York charged an excessive interest rate on its initial loan. ...
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| Exclusive: BlackRock to buy Credit Suisse's European ETFs - source Posted: 09 Jan 2013 11:10 AM PST  NEW YORK (Reuters) - BlackRock Inc has won the bidding for Credit Suisse Group AG's European exchange-traded fund business, according to a source familiar with the situation. The deal is expected to be announced shortly, said the source, who declined to be identified because the deal is not yet public. The value of the deal could not be determined. A BlackRock spokeswoman and a Credit Suisse spokeswoman declined to comment. Credit Suisse put its $17.6 billion ETF unit up for sale in October, sources told Reuters at the time. ...
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| Nasdaq CEO says would definitely consider Euronext Posted: 09 Jan 2013 10:02 AM PST  NEW YORK (Reuters) - Nasdaq OMX Group would definitely consider bidding for Euronext, the operator of the Paris, Amsterdam, Brussels and Lisbon stock exchanges, if it were put up for sale, Nasdaq's Chief Executive Robert Greifeld said in an interview. "We would have to take a look at it," he said. "I'm not saying we would bid on it, but we would have to take a look." Chatter that Euronext could be spun off from NYSE Euronext quickly surfaced after IntercontinentalExchange (ICE) made an $8.2 billion bid for the New York Stock Exchange operator in December. ...
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| Three top U.S. wireless carriers to embrace BlackBerry 10 Posted: 09 Jan 2013 01:17 PM PST  LAS VEGAS (Reuters) - Three of the top U.S. cellphone carriers signaled this week that they would support Research In Motion's BlackBerry 10 products, the first of which are due to be unveiled Jan 30, offering a hopeful sign for RIM's comeback effort. Executives at Verizon Communications , AT&T Inc and T-Mobile USA all said they are looking forward to the devices, which will be crucial for RIM's chances of regaining lost ground from rivals such as Apple Inc and Samsung Electronics . ...
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| Morgan Stanley cuts 1,600 jobs as business languishes Posted: 09 Jan 2013 12:44 PM PST  (Reuters) - Morgan Stanley plans to cut 1,600 employees starting this week, two people familiar with the matter said on Wednesday, in the latest sign of a pullback on Wall Street as revenue from trading and deal-making remains in the doldrums. The staff reduction pertains to Morgan Stanley's institutional securities unit - which includes sales, trading and investment banking, and whose staff will be reduced 6 percent - as well as related support staff who work in areas like technology, said the sources, who were not authorized to speak publicly about the matter. ...
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| Nike wins trademark case in Supreme Court Posted: 09 Jan 2013 12:39 PM PST  WASHINGTON (Reuters) - Nike Inc won a victory at the U.S. Supreme Court barring a smaller rival from suing to void the company's trademark for its top-selling Air Force 1 sneakers. Chief Justice John Roberts wrote for a unanimous court on Wednesday that Nike's promise not to pursue an infringement lawsuit against Already LLC, maker of Yums sneakers, meant that the Texas company could not pursue its own trademark challenge. ...
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| Chrysler 2012 Jeep sales topped 700,000 worldwide for first time Posted: 09 Jan 2013 11:58 AM PST  DETROIT (Reuters) - Chrysler Group LLC's Jeep brand sold more than 700,000 vehicles worldwide for the first time in 2012, an increase of 19 percent from the previous year, Chrysler said on Wednesday. Mike Manley, head of the Jeep brand, said he expects 2013 sales to continue to climb as upgraded versions of Jeep's biggest seller Grand Cherokee, as well as a new midsize Jeep SUV, are introduced. Jeep's 2012 sales of 701,626 topped the previous global high sales mark of 675,494 set in 1999. Among Chrysler's four main brands, Jeep is the one that has the most global reach. ...
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| Dish trumps Sprint's offer for Clearwire with $2.3 billion bid Posted: 09 Jan 2013 01:35 PM PST  (Reuters) - Dish Network put in a bid for Clearwire Corp on Tuesday that trumped Sprint Nextel's $2.2 billion offer, setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum. Dish's $2.28 billion offer appeared to affirm the satellite television provider's ambitious plan to buy its way into the wireless services industry, on which it has already spent $3 billion acquiring much-needed capacity. ...
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| VW seeks full control over German truck maker MAN Posted: 09 Jan 2013 10:50 AM PST  FRANKFURT (Reuters) - Volkswagen's moved to tighten its grip over MAN on Wednesday, saying it wished to take full control over the Munich-based truck maker. Volkswagen said would now seek a so-called domination and profit and loss transfer agreement, a move to give it full strategic and financial control over MAN, in which it has a 75.03 percent stake. Based on the closing price on Xetra DAX the remaining shares would cost Volkswagen at least 2.96 billion euros ($3.86 billion). The 90 euro share price in Frankfurt reflects a 3.17 billion euro price tag. ...
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| Obama to tap budget expert Lew to lead Treasury Posted: 09 Jan 2013 02:45 PM PST  WASHINGTON (AP) — President Barack Obama will nominate White House chief of staff Jack Lew to be his second-term Secretary of the Treasury, turning to one of Washington's most knowledgeable budget experts to manage prickly fiscal negotiations with Congress and steer the still-shaky national economy.
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| Facing backlash, AIG won't join lawsuit against US Posted: 09 Jan 2013 03:11 PM PST  NEW YORK (AP) — Afraid of looking like a world-class ingrate, AIG on Wednesday decided against suing the federal government over the $182 billion bailout that saved the giant insurance company from collapse.
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| Wall Street gains as earnings flow in; Boeing up Posted: 09 Jan 2013 01:55 PM PST  NEW YORK (AP) — Stocks rose on Wall Street Wednesday after U.S. corporate earnings reports got off to a good start.
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| 'Smart' potty or dumb idea? Wacky gadgets at CES Posted: 09 Jan 2013 02:38 PM PST  LAS VEGAS (AP) — From the iPotty for toddlers to the 1,600-pound mechanical spider and the host of glitch-ridden "smart" TVs, the International CES show is a forum for gadget makers to take big — and bizarre — chances.
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| APNewsBreak: Deal in Mass. suit on pregnancy drug Posted: 09 Jan 2013 02:38 PM PST  BOSTON (AP) — Four sisters who claimed in a lawsuit their breast cancer was caused by synthetic estrogen their mother took during pregnancy in the 1950s have reached a settlement with the drug company Eli Lilly and Co.
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| Boeing defends Dreamliner, safety questions remain Posted: 09 Jan 2013 03:20 PM PST  Boeing's 787 is supposed to revolutionize air travel. It just needs to get out of its own way first.
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| Tech delegation pressing NKorea Internet openness Posted: 09 Jan 2013 02:20 PM PST  PYONGYANG, North Korea (AP) — A private delegation including Google's Eric Schmidt is urging North Korea to allow more open Internet access and cellphones to benefit its citizens, the mission's leader said Wednesday in the country with some of the world's tightest controls on information.
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| Gadget Watch: Electronic fork nags you on eating Posted: 09 Jan 2013 10:58 AM PST  LAS VEGAS (AP) — If you've always wanted a fork that spies on your eating habits, you're in luck: A company has developed a utensil that records when you lift it to the mouth.
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| Hasbro aims to jazz up Monopoly with new token Posted: 09 Jan 2013 01:08 PM PST  NEW YORK (AP) — The gig is almost up for one of the eight Monopoly tokens. But which will it be? Iron? Thimble? Top Hat?
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| Conn. moves cautiously on guns in Newtown's wake Posted: 09 Jan 2013 03:13 PM PST  HARTFORD, Conn. (AP) — A month after the Newtown school tragedy, Gov. Dannel P. Malloy is moving cautiously on gun control in Connecticut, a relatively liberal Northeastern state that nevertheless has a strong gun culture and is home to some of the nation's best-known firearm makers.
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