TOP STORIES
OPEC MEMBERS NEARING COMPROMISE ON SUPPLY CUTS
OPEC members are inching toward a compromise that could lead
them to cut oil supply, as the producer group prepares for one of
its most closely watched meetings in years this week.
U.S. GDP REVISED UP TO 3.9% ADVANCE
The economy expanded at its fastest pace in more than a decade
during the spring and summer, showing the U.S. sits on a solid
foundation despite increasing global uncertainty.
U.S. STOCKS PAUSE AS CRUDE PRICES SLIDE
U.S. stocks found little direction and traded flat as a resumed
slide in crude-oil prices dragged down energy stocks. Energy stocks
in the S&P 500 were recently down 1.4%, as crude-oil futures
fell 2%.
AMERICANS BORROWING MORE BRISKLY FOR CARS, HOMES
U.S. household debt--including mortgages, credit cards, auto
loans and student loans--rose $78 billion between July and
September to $11.7 trillion, according to new figures from the
Federal Reserve Bank of New York.
FERGUSON ERUPTS IN VIOLENCE AFTER OFFICER NOT INDICTED
A grand jury declined to indict a white police officer in the
shooting of an unarmed black teenager in the St. Louis suburb of
Ferguson, leading to violent confrontations between police officers
and protesters.
SPOTIFY'S REVENUE ROSE IN 2013, BUT LOSSES CONTINUED
Music-streaming company Spotify said revenue grew substantially
last year, but said it continued to post large losses as investment
weighed on profit. The privately held company said its net loss was
$71.7 million for 2013.
U.S. BANKS SHOWED CONTINUED STRENGTH IN 3Q
The U.S. banking industry showed continued strength in the third
quarter with broad-based revenue growth and a year-over-year jump
in profits, the Federal Deposit Insurance Corp. said.
SANTANDER FINANCE CHIEF NAMED NEW CEO
Santander replaced its chief executive with its long-standing
finance chief and made several changes to its board of directors,
in the first major shake-up at the eurozone's largest lender since
Ana BotÃn took the reins following her father's death.
U.S. CONSUMER CONFIDENCE UNEXPECTEDLY FALLS
U.S. consumers toned down their upbeat view of the economy this
month. The Conference Board said its index of consumer confidence
dropped to 88.7 in November from a revised 94.1 in October.
Economists had forecast the latest index to rise to 96.5.
TMX GROUP PROPOSES NEW FEES FOR CLEARING-UNIT SERVICES
Canada's main stock-market operator is looking to charge new
fees for some services provided by its equity and fixed-income
clearing unit, raising concerns over TMX Group's pricing power over
listed companies and other market participants.
OECD SEES EUROZONE IN 'STAGNATION TRAP'
The eurozone economy may have fallen into "a persistent
stagnation trap" and that could partly be due to the European
Central Bank's reluctance to undertake quantitative easing,
according to OECD economists.
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Big Picture
WHY 4% GROWTH DOESN'T FEEL THAT ROBUST
The Commerce Department revised up the annual growth rate for 3Q
real gross-domestic product to 3.9%, putting growth for six months
at a rapid 4.25%. So, why doesn't the U.S. economy feel like it's
surging by 4%-plus, writes Kathleen Madigan.
MoneyBeat
APPLE'S MARKET CAP TOPS $700 BILLION
Apple just cleared another major milestone as its market
valuation topped $700 billion for the first time, making it the
world's largest company. The next larges is Exxon Mobil with a
market cap of $405 billion.