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The federal government will re-open on Wednesday, according to the Office of Personnel Management. The move increases the likelihood the Labor Department will be able to report employment data for Friday, though the agency has only said it is striving to do so.

Hurricane Sandy will close stock markets for a second day on Tuesday, as Wall Street turned its attention to whether markets would be able to resume functioning on the month’s final trading day on Wednesday. Stock markets closed on Monday due to weather for the first time in 27 years. Bond markets closed early, at noon, as winds and waves from Hurricane Sandy lashed the Eastern seaboard. NYSE Euronext and Nasdaq OMX Group , the largest two U.S. exchange operators, said they intend to reopen Wednesday, conditions permitting. The bond markets will also close on Tuesday, with traders aiming to […]

Stock and bond markets will be closed on Tuesday, as Hurricane Sandy forced Wall Street to shut down trading for at least a second straight day. NYSE Euronext and Nasdq OMX Group said they made their decision in consultation with industry executives and regulators, and intend to reopen Wednesday, conditions permitting. BATS Global Markets, the No. 3 U.S. stock exchange, also said it will be closed on Tuesday. BATS said it was monitoring the situation before providing an update on its Wednesday plans. “It doesn’t make sense to put people in harm’s way or to only have half a market,” […]

ZURICH UBS is set to begin cutting jobs at its investment banking arm as early as Wednesday, the Wall Street Journal reported. The Swiss bank will notify roughly 400 bankers in corporate finance but also fixed income and equities they are being laid off, part of a larger scaleback of its securities unit, the Wall Street Journal reported in its Wednesday edition. It cited undisclosed sources involved in the cuts. More job cuts could quickly follow, the paper said. Separately, the Financial Times reported the UBS revamp could ultimately spark several thousand job losses, but that cuts may not be […]

U.S. wholesale baker Hostess Brands Inc filed for Chapter 11 bankruptcy protection in Manhattan on Wednesday, just months after emerging from a similar process last year, after failing to reach an agreement with workers on pension and health benefits. Hostess was unable to reach…

SYDNEY – Japan plans to reduce its dependency on Iranian oil amid growing global unease with the nation’s nuclear program, media reports Thursday said. “In the past five years, we have reduced… the amount of oil imported [from Iran],” Japan Finance …

BOSTON – Shares of Cessna-maker Textron Inc. jumped nearly 7% in early trading Wednesday following a report by Reuters that the conglomerate was considering spinning off some of its units. Citing sources close to the matter, Reuters…

FRANKFURT – Germany’s economy may have shrunk by 0.25% in the final quarter of 2011, Norbert Raeth of the country’s federal statistics office, Destatis, said in a news conference Wednesday, the BBC reported. For the full year, Destatis said …

Lennar Corp.’s fiscal fourth-quarter net income dropped 5 percent, partly on higher expenses, but revenue rose as the homebuilder delivered more homes. Lennar also said Wednesday that the housing market is starting to stabilize because …

The White House is not considering a massive trillion-dollar mortgage refinance program, an Obama administration official said in an email to MarketWatch Thursday. The comment comes after a day of speculation that the Obama administration might consider such a program, stemming, in…

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