TOP STORIES
U.S. PRIVATE SECTOR ADDS 213,000 JOBS
Private payrolls in the U.S. increased by 213,000 jobs in
September, according to an employment survey released by ADP.
Manufacturing hiring was particularly strong.
GM OUTLINES AGGRESSIVE FINANCIAL OUTLOOK
CEO Mary Barra laid out an aggressive plan, saying GM can
achieve a 10% operating margin in world-wide operations by early
next decade through cost cuts, product and marketing improvements,
and substantial tweaks to how it does business.
U.S. STOCKS FALL SHARPLY
U.S. stocks opened the fourth quarter with broad declines amid
growing jitters about global economic growth. Stocks extended
losses after readings on the U.S. manufacturing sector and
construction spending fell short of expectations.
GM, CHRYSLER POST STRONG U.S. SALES; FORD FALTERS
U.S. auto industry sales continued to power ahead in September,
led by double-digit gains from General Motors and Chrysler Group
and rising demand for sport-utilities and trucks.
ISM MANUFACTURING INDEX SLIPS
The ISM's manufacturing purchasing managers' index in September
fell to 56.6 from August's 59.0, which was the index's highest
level since March 2011. Economists had expected the latest PMI to
slow slightly to 58.2.
GOLDMAN-LED GROUP BUYS PERZO TO FORM IM FIRM
Fourteen of the world's biggest financial-services firms bought
Perzo, an instant-messaging software company, and formed a new
technology company that aims to change the way traders
communicate.
HONG KONG SEEKS TO WAIT OUT PROTESTERS
Hong Kong's chief executive has adopted a new strategy to
marshal the city's widespread pro-democracy protests: allow the
demonstrations to continue until the protesters tire or lose
support from the wider public, a source said.
PROXY FIRM ISS URGES SHAREHOLDER VOTE AT ALLERGAN
Allergan should put any acquisition it might strike in the
coming weeks to a shareholder vote, proxy advisory firm
Institutional Shareholder Services said in a report critical of the
company's handling of a hostile bid.
J.P. MORGAN EXPECTS $869M CREDIT FOR MORTGAGE ACTIONS
J.P. Morgan Chase is about one-fifth of the way finished with
doling out the $4 billion in consumer aid that was required as part
of its mortgage-securities settlement with the Justice Department
last year, according to a new report the bank submitted to an
independent monitor.
BLACKBERRY NAMES FORMER MOBILE 365 CEO TO BOARD
BlackBerry appointed the former chief executive of mobile
messaging company Mobile 365 to its board, marking Chief Executive
John Chen's latest move to tap the expertise of former colleagues
as part of his turnaround effort for BlackBerry.
COCA-COLA TWEAKS EXEC-COMPENSATION PLAN
Coca-Cola, bowing to pressure from lead investor Warren Buffett,
announced changes to its executive-compensation plan that will
result in the company issuing fewer stock awards and options to
employees.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Heard on the Street
BANKS FEEL LESS STRESSED ABOUT LOAN GROWTH
When banks report third-quarter earnings in the coming weeks it
will be against a backdrop of the strongest overall loan growth
since 2008, writes John Carney.
Money Talks
GLOOMY GLOBAL MANUFACTURING RAISES ECB RISKS
Outside of the U.S., there's been a generalized slowdown in
global manufacturing, which means that the ECB not only has to deal
with local headwinds as it struggles to inspire growth in the
single currency region. It's also facing a global gale.