Thursday, October 23, 2014
by Clip Syndicate
AT&T Inc said on Wednesday its quarterly revenue rose but by less than wall street anticipated as a wave of subscribers signed up for equipment financing plans that charge lower service fees. AT&T shares fell 0.9 percent to $33.75 after closing at $34.50 on the New York Stock Exchange. AT&T added 2 million new wireless customers and 785,000 contract subscribers in the quarter.   [READ MORE]
Lloyds Banking Group will next week announce plans to cut 9,000 jobs over the next three years, sources familiar with the matter told Reuters on Wednesday. The cuts amount to about 10 percent of Lloyds' workforce and will be announced as part of Chief Executive Antonio Horta-Osorio's strategy review next Tuesday, the sources said. Horta-Osorio's new three-year plan is expected to include the closure of some branches as the bank responds to a growing number of transactions being executed online, and the automation of some back-office functions. The cuts are on top of the 30,000 jobs which the bank has axed since its a 20.5 billion pound ($33 billion) government bailout during the financial crisis of 2007 to 2009.

U.S. consumer prices rose marginally in September as energy costs fell broadly, painting a weak inflation picture that should give the Federal Reserve ample room to keep interest rates low for a while. The Labor Department said on Wednesday its Consumer Price Index edged up 0.1 percent last month after declining 0.2 percent in August. The CPI increased 1.7 percent in the 12 months through September after a similar rise in August.  [READ MORE]
Sources say the ECB is looking at corporate bond buys.The ECB has already carried out work on such purchases, which would widen out the private-sector asset-buying program it began on Monday - stimulus it is deploying to try to foster lending to businesses and thereby support the euro zone economy. One person familiar with the work inside the ECB, speaking on condition of anonymity said, "The pressure in this direction is high." Asked about the possibility of making such purchases, an ECB spokesman said: "The Governing Council has taken no such decision."

Wall Street's top trade group is calling for the creation of a new inter-agency working group of regulators and the White House that would be tasked with developing consistent cybersecurity rules for the financial industry. The recommendation by the Securities Industry and Financial Markets Association was one of several unveiled on Monday as part of a new paper that lays out proposed "principles for effective cybersecurity regulatory guidance."

A report released on Monday by the lawyer overseeing the program to compensate victims of a faulty ignition switch in General Motors vehicles stated two new death claims have been approved, bringing the total number of deaths linked so far to the switch to 29. According to the report by Kenneth Feinberg, who GM has tapped to run the program, a total of 1,517 claims for deaths and injuries have been received since it began accepting claims on Aug. 1.  [READ MORE]
Small Business Research roundup Sept 20 2014
by Lotus Abrams for America's Backbone Weekly
SMB owners?? have positive outlook, health insurance offerings, climate change  [READ MORE]

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