Markets set to rebound; Sears Holdings in decline; Shanghai pollution cancels …

December 6, 2013
By

Stock
Market Headlines:

Markets are poised to bounce back from a string of
losses today as investors wait for a monthly jobs report that could determine
when the Federal Reserve starts reducing its support for the economy. (CNN/Money)

China’s stocks fell as coal companies
slumped after Shanghai reported record-high levels of pollution, while
financial shares slid before trade data this weekend. The nation’s
environmental-protection stocks rose. (Bloomberg
News
)

The Australian dollar traded quietly today ahead of
the release of U.S. employment data that will shape direction for currency
markets internationally into next week. (Wall
Street Journal
)

U.S. Business Headlines:

The storied investing empire of Edward S.
Lampert is shrinking as more investors are heading for the exits, discouraged
by the declining fortunes of Lampert’s signature stake in Sears Holdings. (New
York Times
)

Southwest Airlines is purchasing 22 of the 34 takeoff and
landing slots at New York’s LaGuardia Airport that American Airlines has given up in return for government
approval of its merger with US
Airways. (Reuters)

California’s health exchange is
struggling to keep pace with a surge of applicants who are encountering long
waits and website problems as they try to meet a Dec. 23 deadline. (Los
Angeles Times
)

Anglo-Dutch oil giant Shell has
abandoned plans to build a Louisiana facility to convert natural gas into
diesel and other fuels, citing high costs. (AFP
News
)

Technology
Headlines:

With
iBeacon sensors that will be launched today, Apple hopes to guide customers
around its 254 U.S. stores, whether it’s to pick up an order, upgrade to a new
iPhone or shop for a pair of headphones. (Associated
Press
)

A
new website lets Internet users check if their usernames and passwords were
exposed in some of the largest data breaches in recent years. (IDG
News Service
)

An
Android app called ‘Brightest Flashlight’ has admitted that it sneakily sent
location and device ID data of its users to advertisers. (TechRadar)

Government
authorities do not agree on which laws apply to Bitcoin — or even on what
Bitcoin is, opening the door to more digital fraud schemes. (New
York Times
)

World Business Headlines:

Hundreds of flights were delayed
or cancelled today in China’s commercial hub of Shanghai as record levels of
air pollution shrouded the city in smog, prompting authorities to issue the
highest level of health warning. (Reuters)

Germany’s
Bundesbank has upgraded its economic projections, saying today that strong
demand from consumers would leave the euro area’s largest economy operating at
full capacity over the next two years. (Financial
Times
)

European ministers make a fresh
attempt next week to agree a blueprint to close failing banks, but progress is uncertain as
the fundamental questions of who gets the power to close a bank and how to pay
the bill remain open. (Reuters)

Ministers
from nearly 160 member countries of the World Trade Organization entered a
final day of negotiations today with officials sounding optimistic over chances
of salvaging a deal that would save the trade body from sliding into
irrelevance. (The
Guardian
)

Article source: http://www.cleveland.com/business/index.ssf/2013/12/markets_set_to_rebound_sears_h.html

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