Macy's, AIG: Wednesday's Headlines

(Updated with Macy's, UGI Corp. earnings.)

NEW YORK (TheStreet) -- Here are the top stock market headlines for the morning of Wednesday, Nov. 11, 2009.

Wednesday's Early Headlines

• China to Consider Other Major Currencies to Guide Yuan -- Reuters reports that China said Wednesday it will consider major currencies in guiding the yuan, hinting a departure from an effective dollar peg. "Following the principles of initiative, controllability and gradualism, with reference to international capital flows and changes in major currencies, we will improve the yuan exchange rate formation mechanism," China's central bank said in its most recent monetary policy report. The report comes as Treasury Secretary Timothy Geithner said that maintaining a strong dollar is "very important" for the country's economy. "We bear special responsibility for trying to make sure that we are implementing policy in the U.S. that will sustain confidence not just among American investors and...savers but investors around the world," Geithner said during a visit in Tokyo, according to The Wall Street Journal.
• AIG CEO Benmosche Threatened to Quit: Report -- The Wall Street Journal reports that American International Group (AIG Quote) CEO Robert Benmosche is considering stepping down as he is upset over constraints being placed on the insurance company by the U.S. government, which owns 80% of AIG since it was rescued last year. The report, citing people familiar with the matter, says Benmosche told directors at a board meeting last week that he was "done" but agreed to think it over after other board members expressed shock at his announcement.
• Comcast, NBCU Venture Picks Chief: Report -- Reuters reports that Comcast (CMCSA Quote) and General Electric (GE Quote) have agreed to put NBC Universal CEO Jeff Zucker in charge of their proposed joint venture, with no clauses for him to leave after a specific period. Under a deal being discussed, Comcast's cable networks would be merged with NBC Universal's TV networks, movie studio and local TV stations.
• UPS Sees Improved Holiday Demand -- UPS (UPS Quote) said Wednesday the U.S. holiday season is likely to be better than expected and it plans to raise rates in 2010. "The consensus is flat, but I believe it will be slightly better than that," UPS CEO Scott Davis said of holiday demand. Speaking at a business luncheon in Singapore, Davis said he sees a gradual recovery in the global economy, Reuters reports.
• GE Reportedly in Talks to Sell Security Unit -- The Financial Times reports that GE is in advanced talks to sell its security systems unit to United Technologies (UTX Quote) for more than $1.5 billion. People close to the situation told the newspaper that the discussions, though advanced, could still collapse.
• Only 5% of Americans Planning New Home Purchase -- Only one in every 20 Americans say they plan to buy a home within the next year, according to a survey conducted by Move.com. Those who are planning to buy a home are most likely to be 34 years old or younger and living in the South or West, according to the survey.