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Wednesday, October 8, 2014

Daily Investor Briefing: Fed prepping new policy guidance...

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Fed prepping new policy guidance based on economy, not timelines
WASHINGTON/NEW YORK (Reuters) - The debate within the Federal Reserve over how to telegraph a rise in interest rates heated up last month, with several officials concerned about misleading investors and pushing for a more data-dependent approach, according to minutes from its last policy meeting.
S&P 500 has best day in a year following Fed minutes
NEW YORK (Reuters) - U.S. stocks soared on Wednesday, with major indexes posting their biggest one-day jumps of 2014 after the Federal Reserve reassured investors that its first interest rate hike would not come until it deemed the economy could withstand it.
U.S. fiscal 2014 budget deficit falls to $486 billion, CBO says
WASHINGTON (Reuters) - The U.S. budget deficit fell by nearly a third during fiscal 2014 to $486 billion as federal revenues grew far faster than spending, the Congressional Budget Office said on Wednesday.
Exclusive: Actavis plans new merger approach for Allergan - sources
NEW YORK (Reuters) - Actavis Plc plans to approach Allergan Inc again about a potential merger, as the Botox maker warms up to the possibility of a sale, people familiar with the matter said on Tuesday.
Switzerland says will begin talks with EU on sharing bank data soon
ZURICH (Reuters) - Switzerland will begin negotiations soon with the European Union and some other countries on automatically sharing data on Swiss bank accounts held by foreigners, the government said on Wednesday.
Geithner: AIG losses were exceptional compared with other firms
WASHINGTON (Reuters) - Former U.S. Treasury Secretary Timothy Geithner defended the 2008 bailout of American International Group Inc for a second day on Wednesday, struggling at times to respond to increasingly contentious questions about the government's efforts to rescue the insurance company as it stood minutes from bankruptcy.
Exclusive: China, EU close to deal on telecoms trade dispute- sources
BRUSSELS (Reuters) - China and the European Union are closing in on a deal to resolve a long-running telecoms dispute by the end of the month, people close to the matter say, potentially putting an end to one of the most divisive issues between the two big trade partners.
GT Advanced bankruptcy offers warning to Apple suppliers
SAN FRANCISCO/TOKYO (Reuters) - The financial implosion of Apple Inc supplier GT Advanced Technologies Inc this week offers a dramatic illustration of how the iPhone maker can put the screws to suppliers willing to take a short-term risk for future riches.
Gap says Art Peck to succeed Glenn Murphy as CEO in February
(Reuters) - Apparel retailer Gap Inc said Art Peck, who heads the company's growth, innovation and digital division, would take over as chief executive, effective Feb. 1.
Exclusive: Bank of America seals oil financing deal with Philly refinery - source
NEW YORK (Reuters) - Bank of America Corp has clinched a deal to provide inventory and working capital financing to the biggest oil refinery on the East Coast, replacing JPMorgan Chase & Co with a revamped arrangement that excludes physical supplies, according to a source familiar with the deal.
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