The Other Side of Life 24/7: Daily Investor Briefing: Wall Street posts worst week since...

Friday, October 12, 2012

Daily Investor Briefing: Wall Street posts worst week since...

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10/12/2012

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Wall Street posts worst week since June, banks weigh

NEW YORK (Reuters) - Stocks wrapped up their worst week in four months, led lower on Friday by financial shares as results from Wells Fargo and JPMorgan ignited concerns about shrinking profit margins for big lenders.

U.S. consumer sentiment jumps ahead of elections

NEW YORK (Reuters) - U.S. consumer sentiment unexpectedly rose to its highest in five years in October in the latest in a string of encouraging signs from the economy that may boost President Barack Obama's re-election hopes next month.

Apple to host October 23 event, iPad mini expected

SAN FRANCISCO (Reuters) - Apple Inc will host an event on October 23, said a source familiar with the plan, in what is expected to be the unveiling of a smaller iPad to venture into a market staked out well in advance by rivals Amazon.com Inc and Google Inc.

Exclusive: FTC moving closer to Google antitrust case - sources

WASHINGTON (Reuters) - The majority of top decision-makers at the Federal Trade Commission believe that an antitrust case should be brought against Google Inc , meaning the search giant could soon be headed into tough negotiations, three people familiar with the matter said.

Lacker says Fed stimulus will do little for U.S. economy

WASHINGTON (Reuters) - The Federal Reserve's new round of monetary stimulus is unlikely to do much for economic growth without a damaging rise in inflation, a top policymaker of the U.S. central bank said on Friday.

Santander pulls out of $2.7 billion UK RBS branches deal

LONDON (Reuters) - Royal Bank of Scotland said Spain's Santander has pulled out of its 1.65-billion-pound ($2.65 billion) deal to buy 316 UK RBS branches in a blow to the state-backed British bank.

JPMorgan cuts banker pay, a sign of more frugal times on Wall Street

(Reuters) - JPMorgan Chase & Co's investment bank set aside less revenue to pay employees last quarter, another sign that Wall Street bonuses are on the decline this year.

JPMorgan profit jumps, analysts question sustainability

(Reuters) - JPMorgan Chase & Co posted a record quarterly profit on Friday as falling interest rates and a recovering housing market brought big increases in mortgage lending.

Citi lowers probability of "Grexit" to 60 percent from 90 percent

ATHENS (Reuters) - Citigroup changed on Friday its view that Greece will almost certainly leave the euro, saying key euro zone players seem to have decided a Greek exit would do more harm than good.

German BAE/EADS "veto" was a disappointment, UK's Osborne says

TOKYO (Reuters) - British finance minister George Osborne on Saturday blamed an effective German veto for the failure of a $45 billion merger between British defense firm BAE and European aerospace group EADS this week.