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Business

Producer Prices in US Increase Less Than Forecast

Bloomberg - Courtney Schlisserman - ‎34 minutes ago‎
Nov. 17 (Bloomberg) -- Wholesale prices in the US increased in October for just the second time in the past four months, indicating inflation will not be a concern for the Federal Reserve.

Target Earnings Rise 18%; Saks Reports Profit

Wall Street Journal - Joan E. Solsman, Mike Barris - ‎13 minutes ago‎
Target Corp.'s fiscal-third-quarter earnings rose 18%, snapping a streak of eight quarterly declines and besting expectations as the discount retailer saw profitability improve in both its retail and credit-card ...

PRECIOUS METALS: Gold Backs Off From Record As Dollar Rises

Wall Street Journal - Matt Whittaker - ‎15 minutes ago‎
NEW YORK (Dow Jones)--A bounce in the US dollar has gold on the defensive Tuesday, and it is likely participants are booking profits from the metal's recent string of record high prices.

UPDATE 1-Saks posts Q3 profit, shares up

Reuters - Phil Wahba, Dave Zimmerman - ‎17 minutes ago‎
NEW YORK, Nov 17 (Reuters) - Upscale department store operator Saks Inc (SKS.N) reported a quarterly profit on Tuesday, beating Wall Street expectations for a loss, and its shares rose 5.5 percent.

Home Depot profit drops 8.9%; 4th-quarter outlook may miss

MarketWatch - Andria Cheng - ‎32 minutes ago‎
NEW YORK (MarketWatch) -- Home Depot Inc., the No. 1 home-improvement retailer, reported Tuesday that its fiscal third-quarter profit fell a less-than-expected 8.9%, after the company controlled expenses to help offset ...

Applied Materials to Buy Semitool

Wall Street Journal - Joan E. Solsman - ‎13 minutes ago‎
Applied Materials Inc. plans to acquire Semitool Inc. for $364 million in cash by the end of the year, bolstering the chipmaker's advanced-packaging and copper-conversion efforts.

Jacob Named Lazard CEO

Wall Street Journal - Joan E. Solsman - ‎39 minutes ago‎
Lazard Ltd. named Kenneth M. Jacob as chairman and chief executive, promoting the leader of its North American banking effort after the death of Bruce Wasserstein, the company's famed dealmaker.

Swiss to hand over U.S. names of wealthy UBS clients

Reuters - Jason Rhodes - ‎17 minutes ago‎
BERNE (Reuters) - The Swiss Justice Department will hand over the names of wealthy US clients of UBS (UBSN.VX) with accounts holding over 1 million Swiss francs ($986200) in cases of fraud and similar, it said on Tuesday.

Russia palladium sales to shrink on lower output-JM

Reuters - Aleksandras Budrys - ‎17 minutes ago‎
MOSCOW, Nov 17 (Reuters) - Russia, the world's leading producer of platinum group metal palladium, will cut sales to foreign markets due to lower output by its sole producer, Norilsk Nickel, Johnson Matthey (JMAT.

UPDATE 1-Canadian Solar Q3 beats, sees doubling shipments in '10

Reuters - Adveith Nair - ‎18 minutes ago‎
Nov 17 (Reuters) - Canadian Solar Inc's (CSIQ.O) third-quarter profit rose sharply on strong demand, comfortably beating estimates, and the company said it expects to more than double shipments in 2010.

GE Enlightens China Regions Working to Curb Pollution

Bloomberg - ‎3 hours ago‎
By Bloomberg News Nov. 17 (Bloomberg) -- The Ordos region of Inner Mongolia, home to one of China's biggest deserts, is being transformed into the site of a pine forest that will stretch across its low hills as far as the eye can see.

UPDATE 1-Dillard's swings to profit in Q3

Reuters - Phil Wahba, Dave Zimmerman - ‎17 minutes ago‎
NEW YORK, Nov 17 (Reuters) - Dillard's Inc (DDS.N) reported on Tuesday a quarterly profit from a year-ago loss, helped by a tax benefit and a move to slash inventory to counter weak consumer spending.

Six-Month Dollar Libor Falls Below Yen as Fed Signals Low Rates

Bloomberg - Matthew Brown - ‎1 hour ago‎
Nov. 17 (Bloomberg) -- The cost of borrowing in dollars for six months between banks fell below the yen rate for the first time in more than 16 years as Federal Reserve officials signaled they may keep interest rates low for even ...

Berkshire Raises Wal-Mart Stake, Adds Exxon, Nestle

Bloomberg - Andrew Frye - ‎46 minutes ago‎
Berkshire held about 1.28 million Exxon shares and 3.4 million American depositary receipts of Nestle at the end of the third quarter, the Omaha, Nebraska-based company said in a regulatory filing yesterday.

Nu Skin Raises 4Q View On Product Launch, Japan Rebound

Wall Street Journal - ‎36 minutes ago‎
Nu Skin Enterprises Inc. (NUS) raised its estimates for the rest of the year as the maker of antiaging products touted a successful preliminary launch of a skin-care line, an improving Japanese market and favorable currency changes.

UPDATE 1-Covidien Q4 profit beats estimates, ups sales views

Reuters - Krishnakali Sengupta, Anil D'Silva - ‎1 hour ago‎
Nov 17 (Reuters) - Medical products maker Covidien's (COV.N) quarterly earnings topped estimates, helped by the launch of new products, higher volumes and pricing, and it also raised its sales outlook for 2010.

MIDEAST STOCKS-Kuwait hits 33-week low on Agility indictment

Reuters - Matt Smith, Thomas Atkins - ‎1 hour ago‎
DUBAI, Nov 17 (Reuters) - Shares in Kuwaiti logistics firm Agility (AGLT.KW) tumbled on Tuesday after a US grand jury indictment, dragging Kuwait's bourse .

Ahead of the Bell: Pacific Sunwear

ABC News - ‎12 minutes ago‎
AP Slumping sales expectations dragged down shares of surf- and skatewear retailer Pacific Sunwear of California Inc. in premarket trading on Tuesday.

New tool in Fed shed to do heavy lifting in exit

Reuters - Mark Felsenthal - ‎31 minutes ago‎
WASHINGTON (Reuters) - The US Federal Reserve may rely principally on the largely untested monetary policy tool of paying interest on bank reserves when the time eventually comes to raise borrowing costs.

CapitalSource sells nursing home business to Baltimore company

Washington Post - Thomas Heath - ‎2 hours ago‎
Chevy Chase-based CapitalSource Inc. announced today that it is selling its nursing home business to Omega Healthcare Investors, Inc. of Baltimore for $860 million, helping relieve CapitalSource of heavy debt during the recession.

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