The Other Side of Life 24/7: Daily Investor Briefing: Wall Street dips as investors seek...

Tuesday, December 4, 2012

Daily Investor Briefing: Wall Street dips as investors seek...

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12/4/2012

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 dips as investors seek cliff progress

NEW YORK (Reuters) - Stocks finished slightly lower in a quiet session on Tuesday as the back-and-forth wrangling over the "fiscal cliff" gave investors little reason to act.

Obama firm on tax rates amid Republican infighting

WASHINGTON (Reuters) - President Barack Obama dangled the possibility on Tuesday of lowering tax rates in 2013 with a broad U.S. tax code revamp, but he stood firm on insisting rates for the wealthiest must rise as part of a deal to avert the "fiscal cliff," a series of budget cuts and tax increases that will begin taking effect on December 31 unless Congress acts.

American Air passenger service agents vote on unionizing

(Reuters) - American Airlines passenger service agents, the only major employee group at the carrier not unionized, began voting Tuesday on whether to be represented by the Communications Workers of America (CWA) union.

AIG names new CEO for mortgage insurer United Guaranty

(Reuters) - American International Group Inc shuffled the management of its mortgage insurance unit for the second time this year, naming a new chief executive for United Guaranty and moving the prior CEO to a senior underwriting position.

Bank of America's profits will be key in Fed stress test: CEO

(Reuters) - Bank of America Corp's ability to produce consistent profits will be a key factor in the bank's upcoming U.S. Federal Reserve stress test, Chief Executive Brian Moynihan said on Tuesday.

BlackRock CEO Fink says not seeking Treasury job

(Reuters) - Laurence Fink, chief executive of BlackRock, the world's biggest money manager, said on Tuesday he is not seeking a job in the administration of Barack Obama.

Ex-Goldman director to stay free on bail: court

NEW YORK (Reuters) - Former Goldman Sachs Group Inc board member Rajat Gupta can remain free on bail while he appeals his insider-trading conviction, an appeals court ruled on Tuesday.

JPMorgan to continue building branch offices, CFO says

NEW YORK (Reuters) - Despite the prospect of low lending rates for years to come, JPMorgan Chase & Co will continue to build new branch offices to take in more deposits to make loans and support some of its business franchises, a top bank executive said on Tuesday.

U.S. judge dismisses sanctions case against Barclays

WASHINGTON (Reuters) - A federal judge ended a two-year-old case against Barclays involving its dealings with sanctioned countries, closing one investigative chapter against the bank even as it faces multiple continuing inquires.

Shareholders haggle over final details of EADS shake up

BERLIN/PARIS (Reuters) - Shareholders in EADS pored over a handful of clauses in the closing stages on Tuesday of talks to shake up the European aerospace group, people familiar with the discussions said.