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Mar 7, 2013

Adidas sees role for Reebok despite writedown

HERZOGENAURACH, Germany (Reuters) – Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz) is to stick with its troubled Reebok business even though the German sportswear group had to make a 265 million euro ($344.5 million) writedown on the brand at the end of last year.

Adidas, which bought Reebok in 2005 for $3.8 billion to try to close the gap with market leader Nike (NKE.N: Quote, Profile, Research, Stock Buzz), last year had to cut its 2015 sales target for the brand by a third after two quarters of declining sales.

Mar 6, 2013

Jobs, factory data offer hope for economy

WASHINGTON (Reuters) – Private employers hired more workers than expected in February and demand for a range of factory goods was solid in January, hopeful signs for the economy as it deals with higher taxes and deep government budget cuts.

The reports on Wednesday suggested economic activity picked up after it stalled in the final three months of 2012.

Mar 6, 2013

U.S. jobs, factory data offer hope for economy

WASHINGTON, March 6 (Reuters) – U.S. private employers hired
more workers than expected in February and demand for a range of
factory goods was solid in January, hopeful signs for the
economy as it deals with higher taxes and deep government budget
cuts.

The reports on Wednesday suggested economic activity picked
up after it stalled in the final three months of 2012.

Mar 6, 2013

Dow Jones record may boost spending by wealthy; others still wary

NEW YORK (Reuters) – About an hour after the Dow Jones industrial average hit a record high on Tuesday, Overland Park, Kansas-based financial adviser Brad Stratton got an e-mail from a client asking how she could “make hay while the sun shines.”

Stratton, a former Merrill Lynch broker who set up his own firm last year, said he’s been fielding a lot of such calls lately. Many are from clients who want to capitalize on stock-market gains by purchasing second homes or investment properties.

Mar 1, 2013

U.S. factory activity jumps as Europe, China struggle

NEW YORK/LONDON (Reuters) – U.S. manufacturing activity expanded last month at its fastest clip in 20 months but Asian factories slowed and European output fell, suggesting the road back to robust global growth remains uneven.

In the United States, rising demand lifted the Institute for Supply Management’s factory purchasing managers index to its highest level since mid-2011, helping the sector regain some of the momentum lost in the second half of last year.

Mar 1, 2013

Factory activity jumps as Europe, China struggle

NEW YORK/LONDON (Reuters) – U.S. manufacturing activity expanded last month at its fastest clip in 20 months but Asian factories slowed and European output fell, suggesting the road back to robust global growth remains uneven.

In the United States, rising demand lifted the Institute for Supply Management’s factory purchasing managers index to its highest level since mid-2011, helping the sector regain some of the momentum lost in the second half of last year.

Mar 1, 2013

As Washington frets, markets take spending cuts in stride

NEW YORK (Reuters) – Broad spending cuts designed to slam most U.S. government programs with all the subtlety of a sledgehammer were set to begin taking effect on Friday, yet investors have so far barely batted an eyelash.

The $85 billion in across-the-board “sequestration” cuts were expected to cause airport delays, disrupt public services and result in lower pay or layoffs for millions of government workers.

Feb 26, 2013

Home prices cap year with biggest rise since 2006

NEW YORK (Reuters) – U.S. home prices closed out 2012 with the biggest annual gain in more than six years while sales of new homes spiked in January, the latest sign that the long-suffering housing market was on the mend, data showed on Tuesday.

American consumers, meanwhile, grew more optimistic in February as the prior month’s worries about a broad tax increase faded.

Feb 26, 2013

U.S. home prices cap year with biggest rise since 2006

NEW YORK, Feb 26 (Reuters) – U.S. home prices closed out
2012 with the biggest annual gain in more than six years while
sales of new homes spiked in January, the latest sign that the
long-suffering housing market was on the mend, data showed on
Tuesday.

American consumers, meanwhile, grew more optimistic in
February as the prior month’s worries about a broad tax increase
faded.

Feb 15, 2013

Foreign demand for US assets rises in December: Treasury

NEW YORK (Reuters) – Foreigners continued to pour into long-term U.S. assets as 2012 wound down, with demand rising for both government bonds and equities, the U.S. Treasury said on Friday.

Overseas investors bought $64.2 billion of long-term U.S. securities in December, the most in four months, after buying$52.4 billion the prior month.