Business News

Global Concerns Rule

November got off to a rousing start, with the S&P 500 and Nasdaq in positive territory for the year. All major stock measures are coming off their best closes in nearly three months. (CNBC)
Walgreens Boots Alliance is willing to divest as many as 1,000 stores in order to win approval to buy rival Rite Aid. Walgreens, however, doesn't expect to have to sell more than 500 stores. What this means for stores in Central Oregon is not yet clear. (AP)
After less than a year, the investment firm of billionaire George Soros has pulled its $500 million from a Janus bond fund managed by Bill Gross, because of poor returns. This could further hurt future returns as more investors follow the Soros lead and pull their money. (WSJ)
CEO’s are less confident about economic conditions in every major region across the globe, according to a quarterly survey of top business executives. Confidence in the U.S. dropped for the third consecutive quarter. In July, 37% of CEOs said that the economy had improved in the previous six months, in October survey, it slipped to 31%. The Global index fell 2.8 points to 58.1. The steepest decline among the nine global regions surveyed was Asia, where confidence dropped 4.7 points to 57.3. (CNBC)
American International Group, AIG, reported a third-quarter loss of $231 million. AIG blamed lower income on hedge-fund investments and assets marked to fair value through earnings, lower realized investment gains, and lower income from settlements of non-operating litigation. (AP)

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