UNDATED (AP) — International stock markets mostly rebounded today after a fall in U.S. unemployment applications and comments from a Federal Reserve official eased nerves about a stalling economic recovery. Futures point gains at this morning’s Wall Street opening. Benchmark U.S. crude oil inched up toward $83 a barrel. The dollar gained against the yen and the euro.
WASHINGTON (AP) — The Commerce Department will report today on housing starts for September. Also, Federal Reserve Chair Janet Yellen will speak at a conference in Boston sponsored by the Boston Fed. Two major firms will release their third quarter financial results today. General Electric and Morgan Stanley will report earnings before the market opens.
ATLANTIC CITY, N.J. (AP) — A federal bankruptcy court judge is expected to rule today on a request from the owners of Atlantic City’s Trump Taj Mahal Casino Resort to cancel the casino’s union contract. The owners consider it a life-or-death decision, saying the financially-troubled gambling hall can’t survive without shedding costly pension and health care obligations.
UNDATED (AP) — Chipmaker AMD says it’s about to shed 7 percent of its global workforce in an effort to improve profitability. The Sunnyvale, California-based corporation has been dealing with weaker revenue and profits for some time and posted third-quarter results Thursday that missed market expectations. It is the first move by AMD’s new CEO, Lisa Su, a former chief operating officer who replaced Rory Read just over a week ago.
BUENOS AIRES, Argentina (AP) — Argentina has launched its first domestically built communications satellite. The ARSAT-1 satellite is the first to be constructed with local technology in Latin America. It was built by a crew of about 500 scientists over seven years at a cost of $250 million. The satellite was launched from a base in French Guiana and is to orbit 22,000 miles above Earth. It’s designed to provide digital television and cellphone services to Argentina, Chile, Paraguay and Uruguay. It’s also expected to improve telephone and Internet connections in remote places, including the Antarctic region.
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