The Other Side of Life 24/7: Daily Investor Briefing: Wall Street falls after 3 days of...

Thursday, August 30, 2012

Daily Investor Briefing: Wall Street falls after 3 days of...

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08/30/2012

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 after 3 days of muted trade

NEW YORK (Reuters) - Stocks fell on Thursday after several days of muted trading as investors took a defensive posture before Federal Reserve Chairman Ben Bernanke's much-awaited speech on Friday.

Consumer spending posts biggest rise in five months

WASHINGTON (Reuters) - Consumer spending got off to a fairly firm start in the third quarter, rising by the most in five months and offering hope economic growth would pick up this quarter.

Fed's Plosser says no point in launching risky QE3

(Reuters) - One of the U.S. Federal Reserve's most prominent policy hawks said on Thursday there is no point in launching a third round of asset purchases known as quantitative easing (QE3), in part because it risks future inflation.

August good for retailers, third quarter looks bright

(Reuters) - Nearly all retailers posted better-than-expected sales gains in August at stores open at least a year as parents and students wrapped up back-to-school purchases, setting the stage for a strong third quarter.

Exclusive: Google, Apple CEOs in talks on patent issues

SAN FRANCISCO (Reuters) - Google Inc CEO Larry Page and Apple CEO Tim Cook have been conducting behind-the-scenes conversations about a range of intellectual property matters, including the ongoing mobile patent disputes between the companies, according to people familiar with the matter.

Barclays picks retail banker to replace Diamond

LONDON (Reuters) - Barclays named retail banker Antony Jenkins as chief executive on Thursday, signaling a shift from riskier investment banking as it tries to recover from the interest rate-rigging scandal that brought down his predecessor.

ECB's Asmussen: IMF must be involved in conditions for new bond buys

POTSDAM, Germany (Reuters) - The European Central Bank should buy sovereign bonds of troubled euro zone states only if the International Monetary Fund is involved in setting the economic reform programs that should be a condition for the intervention, a top ECB policymaker said.

ECB rescue plan underpins Italian bond auction

MILAN/BEIJING (Reuters) - A successful Italian bond auction on Thursday pointed to confidence among investors that the European Central Bank will keep its word and take measures dramatic enough to get a grip on the euro zone's debt crisis.

Tapping SPR an option, no announcement to make: White House

WASHINGTON (Reuters) - The White House repeated on Thursday that releasing oil from the Strategic Petroleum Reserve in response to lofty energy prices remains an option but that it had no announcements to make on the topic.

Macy's fails to stop Penney selling Stewart goods

NEW YORK (Reuters) - Macy's Inc lost an attempt on Thursday to block J.C. Penney Co Inc from proceeding with plans to sell a number of Martha Stewart home goods products in its stores.