Daily Investor Briefing: Wall Street treads water, stays on...

	Click to View in Browser 09/5/2012 Wall Street treads water, stays on ECB watch NEW YORK (Reuters) - Stocks closed out a second straight session of thin trading on Wednesday, with investors reluctant to make big bets ahead of a crucial meeting of the European Central Bank, which could announce new policies to help contain the euro zone's debt crisis. Second quarter productivity raised, wage inflation muted WASHINGTON (Reuters) - Nonfarm productivity increased at a much faster clip than initially thought in the second quarter as businesses largely held the line on hiring even as output rose, helping to keep inflation pressures tamped down. BlackRock stock undervalued even if ETF fees cut, analyst says (Reuters) - Shares of BlackRock, the world's largest money manager, are undervalued by about 20 percent even if the firm has to cut fees on its popular iShares line of exchange-traded funds, according to an analyst report issued on Wednesday. Exclusive: A fourth trader under scrutiny in JPM "Whale" probe NEW YORK (Reuters) - A fourth London-based JPMorgan Chase trader is under scrutiny in the investigation by U.S. authorities into the bank's nearly $6 billion trading loss, according to sources familiar with the situation. World Bank appoints chief economist from India WASHINGTON (Reuters) - The World Bank on Wednesday named Kaushik Basu, an Indian national who previously advised the Indian government, as its chief economist, placing a candidate from an emerging market country in a key position at the global development lender. More budget cuts might change Pentagon view on mergers: Northrop WASHINGTON (Reuters) - Further budget cuts could prompt top U.S. defense officials to rethink their current position opposing additional consolidation among top-tier U.S. defense contractors, Northrop Grumman Corp Chief Executive Wes Bush told Reuters on Wednesday. Exclusive: General Growth board looking to hire banker - sources NEW YORK (Reuters) - General Growth Properties Inc's board is interviewing potential financial advisers, a week after activist investor Bill Ackman urged the No. 2 U.S. mall owner to consider putting itself up for sale, two sources familiar with the matter said on Wednesday. Lufthansa: mediation less than ideal in cabin crew row FRANKFURT (Reuters) - German airline Lufthansa said it would be open to mediation but held out little hope of success as a Friday strike threat loomed in an escalating fight with cabin crew over pay and conditions. TransCanada submits new Keystone XL route in Nebraska WASHINGTON (Reuters) - TransCanada Corp said on Wednesday it has submitted a new route for the project to build the Keystone XL oil sands pipeline from Canada to Texas that will avoid sensitive ecological areas in Nebraska. Kia says on pace for 4 percent share of U.S. new-car market DETROIT (Reuters) - Kia Motors Corp's share of the U.S. new-car market is on pace to finish at 4 percent, a top U.S. executive said on Wednesday. Related Video The Exchange: The Art of Politics Massive solar flare delivers Earth a glancing blow Related News Want a better job? Find a mentor Stern Advice: What to do with that windfall A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend