The Other Side of Life 24/7: Daily Investor Briefing: Wall Street falls as Fed doubts knock...

Thursday, August 23, 2012

Daily Investor Briefing: Wall Street falls as Fed doubts knock...

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08/23/2012

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 falls as Fed doubts knock equities

NEW YORK (Reuters) - Stocks fell on Thursday as expectations for quick stimulus action from the Federal Reserve faded and Chinese and euro zone data pointed to a stalling global economy.

Data point to slow pace of healing in economy

WASHINGTON (Reuters) - Growth in the manufacturing sector picked up in August, a sign the economy is resisting the global economic chill although a rise in new jobless claims last week pointed to a still-sluggish labor market.

Euro zone headed for recession, China, U.S. struggle

NEW YORK/LONDON (Reuters) - World business surveys on Thursday painted a picture of economic malaise stretching from Beijing to Berlin, adding to concerns that the world economy was slowing down.

New York Fed sells last of its AIG assets, ending ties with firm

NEW YORK (Reuters) - The Federal Reserve Bank of New York brought to a close another chapter in the government's taxpayer-funded bailouts of 2008 with the sale of its remaining assets of insurer American International Group , the bank said on Thursday

Citi to yank up to $500 million from Paulson's funds: source

NEW YORK (Reuters) - The hits keep coming for hedge fund manager John Paulson, with Citi Private Bank deciding it will withdraw up to $500 million from Paulson & Co's flagship Advantage funds, according to a person familiar with the decision.

UBS says Nasdaq's Facebook compensation plan inadequate

NEW YORK (Reuters) - The $62 million compensation plan proposed by Nasdaq OMX Group for fallout from Facebook's botched IPO is "inadequate to address the magnitude of Nasdaq's unprecedented failures", UBS Securities LLC said in a letter to U.S. regulators.

Fed's Bullard plays down odds of imminent easing

WASHINGTON (Reuters) - A Federal Reserve official on Thursday leaned against the impression that the U.S. central bank was locked into easing monetary policy at its meeting next month, noting that economic data had improved in recent weeks.

JPMorgan "London Whale" hires lawyer in France: sources

NEW YORK (Reuters) - The trader at the center of the criminal investigation surrounding JPMorgan's $5.8 billion trading loss has hired a lawyer in Paris, two sources familiar with the investigation said on Thursday.

Analysis: U.S. industrials, telecoms to face off in home automation

NEW YORK (Reuters) - Ingersoll Rand Plc Chief Technology Officer Paul Camuti works for one of the world's largest maker of home locks and yet he has no idea where his house keys are. That's because Camuti uses his smartphone to unlock his front door.

Exclusive: Spain in talks with euro zone over sovereign aid

MADRID/PARIS (Reuters) - Spain is negotiating with euro zone partners over conditions for aid to bring down its borrowing costs, though the country has not made a final decision to request a bailout, three euro zone sources said on Thursday.