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Monday, August 19, 2013

Daily Investor Briefing: Wall Street falls for fourth straight...

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08/19/2013
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 falls for fourth straight session
NEW YORK (Reuters) - U.S. stocks lost ground on Monday, with each of the major indexes falling for a fourth straight session, as investors were hesitant to make new bets ahead of an expected shift in Federal Reserve policy that could lead to higher interest rates.
Fund manager Falcone agrees to five-year financial industry ban
NEW YORK (Reuters) - Billionaire fund manager Philip Falcone agreed to a five-year ban from the financial industry and will admit wrongdoing to settle charges by the U.S. Securities and Exchange Commission that he improperly used money from his hedge fund and unfairly favored some of his investors, the SEC announced on Monday.
Fed tells big banks to improve capital planning
WASHINGTON (Reuters) - Big banks must improve the way they determine how much capital they need to withstand any future crisis, the U.S. Federal Reserve said, citing observations from regulators' periodic tests of banks' health.
Obama feels 'urgency' about finishing Dodd-Frank rules: White House
WASHINGTON (Reuters) - President Barack Obama plans to communicate a "sense of urgency" about finishing new rules for Wall Street when he meets with top U.S. financial regulators on Monday, a White House spokesman said.
Analysis: In choice of next Fed chair, a focus on regulatory views
SAN FRANCISCO (Reuters) - As President Barack Obama weighs whom to nominate to succeed Federal Reserve Chairman Ben Bernanke, he will look well beyond their stance on monetary policy, the traditional measure of a good central bank chief.
Employment gains falter in U.S. states
WASHINGTON (Reuters) - Jobless rates dropped in only eight states in July from the previous month and rose in 28, the Labor Department said on Monday, as employment gains sputtered.
JPMorgan China probe sends chill through investment banks
HONG KONG (Reuters) - A U.S. banking regulator's probe into JPMorgan's hiring practices in China will have rival banks scrambling to review their own records, lawyers say, in a market where ties to political and business leaders can be key to winning big deals.
India, Brazil, other emerging economies hit by currency rout
MUMBAI/RIO DE JANEIRO (Reuters) - The Indian rupee plummeted to a record low against the dollar on Monday, leading a rout by Brazil's real and other emerging market currencies seen by investors as the most vulnerable to an exodus of foreign capital.
Fannie, Freddie should recognize bad loan costs immediately: watchdog
WASHINGTON (Reuters) - Fannie Mae and Freddie Mac are possibly masking billions of dollars in losses because of the level of delinquent home loans they carry, a federal watchdog said on Monday, adding that the companies should immediately be required to recognize the costs of some bad mortgages.
U.S. court gives lawsuit over Barclays disclosures a second chance
NEW YORK (Reuters) - A U.S. appeals court on Monday said investors may revive a lawsuit accusing Britain's Barclays Plc of misleading them in a 2008 stock offering about its subprime mortgage exposure and ability to manage credit risks.
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