Investors offer about 30 billion euros in Greek debt buyback: source

ATHENS (Reuters) - Greece is set to purchase back about half of its debt owned by private investors, broadly succeeding in a bond buyback that is key to the country's international bailout, a Greek government official said on Saturday. Greek and foreign bondholders offered the targeted 30 billion euros ($38.8 billion) in the deal, which is central to efforts by Greece's euro zone and International...

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Employment ducks Superstorm Sandy's punch

WASHINGTON (Reuters) - Companies kept up their slow but steady hiring pace in November, defying predictions that Superstorm Sandy would deal a big blow to the labor market. While the unemployment rate fell to a near four-year low of 7.7 percent, that was only because many Americans gave up the hunt for work, tempering the signal from the stronger-than-expected payrolls growth. A big drop in consumer...

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US Air makes merger offer, AMR pilots approve labor deal

NEW YORK (Reuters) - US Airways Group Inc has made a formal merger proposal to American Airlines parent AMR Corp and its creditors that could value the combined airline at around $8.5 billion, two people familiar with the matter said on Friday. Details of the proposal emerged as American Airlines pilots voted to ratify a new union contract on Friday, ending a years-long labor dispute and stabilizing...

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Foreigners seen offering 15-16 billion euros in Greek debt buyback - papers

ATHENS (Reuters) - Foreign investors have offered between 15 and 16 billion euros ($19.4-20.7 billion) of Greek government bonds in a debt buy-back programme, according to an initial estimate given by newspapers on Saturday. The plan is central to efforts by Greece's euro zone and International Monetary Fund lenders to cut its borrowing to manageable levels and unlock aid. The preliminary estimate...

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Goldman Sachs fined $1.5 million for trading glitch

WASHINGTON (Reuters) - Goldman Sachs Group Inc was fined $1.5 million to settle charges it failed to supervise its traders and allowing one futures dealer to hide billions in dollars from sight and causing a $118 million loss. Ex-Goldman trader Matthew Marshall Taylor in 2007 camouflaged an $8.3 billion position, manually entering fake trades, the Commodity Futures Trading Commission (CFTC) said...

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