WardsAuto says October U.S. auto sales to fall 6 percent

DETROIT (Reuters) – WardsAuto, an autos industry publication, forecast on Monday that October U.S. auto sales will be 6.2 percent lower than they were in October 2015. WardsAuto said that all three major U.S. automakers will have sales declines deeper than the overall industry. Major automakers report October U.S. new vehicle sales on Nov. 1.

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Egypt PM expects IMF deal to be signed within two months

CAIRO (Reuters) – Egypt hopes to receive final approval for its $12 billion International Monetary Fund lending program within two months, Prime Minister Sherif Ismail said in a television interview on Monday. Egypt received preliminary approval for the three-year deal aimed at plugging its budget deficit and balancing currency markets in August but the IMF’s

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Visa profit, revenue beats analysts’ estimates

(Reuters) – Visa Inc <V.N>, the world’s largest payments network operator, reported better-than-expected quarterly profit and revenue, boosted by the inclusion of Visa Europe’s results and as customers spent more using its network. The company said total payments volume increased 47.1 percent to $1.86 trillion on a constant dollar basis in the fourth quarter ended

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S&P hits two-week high on strong earnings; M&A supports

By Rodrigo Campos NEW YORK – (Reuters) – The S&P 500 hit a two-week high on Monday on the back of strong earnings, while a flurry of acquisitions indicated corporate America continues to see untapped value in the market. Annualized third-quarter earnings from S&P 500 components are expected to have risen 1.1 percent last quarter,

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Dollar gains against yen as traders see Dec. Fed rate hike

By Sam Forgione NEW YORK (Reuters) – The U.S. dollar hovered near a nine-month high against a basket of major currencies and touched a one-week high against the yen on Monday on growing expectations of a Federal Reserve interest rate increase in December. Recent positive economic data and comments from central bank officials have bolstered

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TD Ameritrade faces scrutiny over Scottrade purchase

By Matt Scuffham (Reuters) – TD Ameritrade <AMTD.O> has agreed to buy Scottrade for $2.7 billion in a deal that would bring together two of the biggest U.S. discount brokerages, but is expected to face scrutiny from regulators. It is the latest in a wave of consolidation in an industry which has been grappling with

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