The Other Side of Life 24/7: Daily Investor Briefing: Wall Street takes a hit from ECB...

Thursday, August 2, 2012

Daily Investor Briefing: Wall Street takes a hit from ECB...

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08/2/2012

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 takes a hit from ECB disappointment

NEW YORK (Reuters) - Stocks fell for a fourth day on Thursday after European Central Bank President Mario Draghi disappointed investors hoping for immediate action to contain the euro zone debt crisis.

Economic data underscores weakening activity

WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits rose last week and manufacturers suffered an unexpected drop in orders in June, suggesting the economy is struggling to break out of a soft patch.

AIG second-quarter profit rises, insurance units all gain

(Reuters) - American International Group Inc reported a larger profit for the second quarter on Thursday, as tax benefits boosted results and operating income grew across the company's varied insurance businesses.

ECB signals may buy euro zone bonds

FRANKFURT (Reuters) - The European Central Bank indicated on Thursday it may again start buying government bonds to reduce crippling Spanish and Italian borrowing costs but the conditions it set and the dissenting voice of its key German member disappointed markets.

Apple seeks severe punishment for Samsung lawyer's actions

SAN FRANCISCO (Reuters) - Apple Inc asked a U.S. judge on Thursday to punish Samsung Electronics Co Ltd for a Samsung attorney's conduct by ordering that the South Korean company has infringed Apple's phone design patents, according to a court filing.

Knight's future in balance after trading disaster

NEW YORK (Reuters) - Knight Capital Group Inc was fighting for its survival on Thursday after a trading glitch that had roiled markets wiped out $440 million of the firm's capital, forcing it to seek new funding as its shares plunged more than 70 percent in two days.

RIM to launch new PlayBook line next week

TORONTO (Reuters) - Canada's Research In Motion has chosen its home country to launch a PlayBook tablet with built-in support for cellular networks, a crucial feature missing from its poor-selling initial models.

BofA in talks with Fannie Mae over mortgage dispute: sources

(Reuters) - Bank of America Corp is in talks with Fannie Mae to resolve a dispute over bad mortgages that the government-controlled entity wants the No. 2 U.S. bank to buy back, sources familiar with the matter said.

Most bank regulators dispute Greek stance on "virtual capital"

LONDON (Reuters) - European banks should face penalties if they loan cash for share issues by other banks, national regulators from across Europe told Reuters. This comes after a Greek bank was found to have raised money from offshore companies financed by other institutions.

GM profit helped by cost shift, Europe better than expected

DETROIT (Reuters) - General Motors Co posted a higher-than-expected second-quarter profit as it managed to hold prices steady in Europe despite the weak economy, and shifted some costs in North America to the third quarter.