Markets Rally, Three Day Streak (FoxBusiness)
Wall Street added a third day to its winning streak after upbeat economic and retail sales data, coupled with continued optimism that European authorities are taking steps to tackle the region’s debt crisis, boosted traders’ sentiment.
30 Year Mortgages Drops Below 4% (Reuters)
Interest rates on 30-year U.S. mortgages fell below 4 percent for the first time this week, helping those with access to credit but doing little for the millions who owe more than their homes are worth.
Amazon to Charge Sales Tax in TN (SeattlePI)
Gov. Bill Haslam, center, speaks at a news conference on Thursday, Oct. 6, 2011, in Nashville, Tenn. Haslam announced the state has reached a deal with Amazon.com for the online retailer to begin collecting Tennessee sales tax in 2014 and expand its southeast Tennessee distribution centers by 2,000 jobs.
Commodities Rally (Businessweek)
Gold futures rose for the second straight day and silver surged as commodities and equities rallied amid optimism that European officials were making progress in taming the region’s sovereign-debt crisis.
Bank of America Will Charge Debit Card Fees (STLToday)
Bank of America Corp. will soon begin charging customers $5 a month when they use debit cards to make purchases, a move likely to be followed by other banks as new federal regulations limit their ability to pinch consumers with various fees. The new debit card charges stem from a rule, which takes effect Saturday, that limits the fees banks can levy on merchants every time a consumer uses a debit card to make a purchase.
Trichet Leaves ECB (Reuters)
After keeping his cool for almost eight years, European Central Bank President Jean-Claude Trichet exploded last month. The Frenchman, renowned for his nuanced and composed answers to journalists’ questions, launched into a passionate defense of the ECB’s record when asked about calls from some in Germany for a return to the Deutschmark.
Del Monte and Barclays to Pay $89.4 Million to DM Shareholders (Reuters)
Del Monte Corp and Barclays Capital have agreed to pay $89.4 million to Del Monte shareholders in one of the largest cash settlements on record in Delaware Chancery Court, lawyers for the plaintiffs said on Thursday.
AstraZeneca Cuts 400 US Jobs (Reuters)
AstraZeneca Plc (AZN.L) said on Thursday it will cut about 400 jobs from its U.S. commercial business as Britain’s second-largest drugmaker seeks to reduce costs. The cuts will hit the company’s U.S. headquarters in Wilmington, Delaware, as well as some field-based, non-sales positions, AstraZeneca said.
Obama Would Accept Millionaire Tax (NYTimes)
President Obama said on Thursday that he was “comfortable” with a Senate proposal to pay for his jobs legislation with a tax surcharge on income above $1 million.
Hedge Funds Slump 3.2% in September (Businessweek)
Hedge funds slumped 3.2 percent in September, their worst performance in more than a year, as global stocks tumbled amid a worsening European debt crisis and the threat of a U.S. recession.