The Other Side of Life 24/7: Daily Investor Briefing: Wall St. ends lower ahead of Fed...

Monday, July 29, 2013

Daily Investor Briefing: Wall St. ends lower ahead of Fed...

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07/29/2013

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 St. ends lower ahead of Fed debate on stimulus policy

NEW YORK (Reuters) - Stocks fell on Monday as investors were cautious before this week's Federal Reserve meeting that could signal when the Fed might begin to scale back its stimulus efforts.

Publicis, Omnicom say major clients welcome merger

PARIS (Reuters) - The chief executives of Publicis and Omnicom said they had spoken to major clients about their planned merger and did not anticipate major problems with big advertisers defecting to rivals in the transition period.

IMF approves $2.3 billion aid for Greece

WASHINGTON (Reuters) - The International Monetary Fund's board on Monday completed the fourth review of Greece's bailout program, and approved a further 1.7 billion euros ($2.3 billion) in funds for the cash-strapped euro zone state.

Boeing asks for beacon checks on up to 1,200 jets

PARIS/SINGAPORE (Reuters) - Boeing has asked airlines to inspect up to 1,200 aircraft across their fleets to gather data on Honeywell emergency beacons that have come under scrutiny following a fire on a parked 787 Dreamliner two weeks ago.

Canada's Hudson's Bay to buy Saks for $2.4 billion

NEW YORK/TORONTO (Reuters) - Richard Baker is doubling down on his attempt to revive big-name department stores with a $2.4 billion bid to buy Saks Inc, bringing the iconic New York retailer under the same roof as Lord & Taylor and Canada's Hudson's Bay.

Experts predict long antitrust road for Omnicom, Publicis

WASHINGTON/BRUSSELS (Reuters) - Publicis and Omnicom will most likely have to shed some assets in order for their mega deal to win approval from regulators in the United States, Europe and 40 other countries where they operate.

SEC fraud case against ex-Goldman trader Tourre in homestretch

NEW YORK (Reuters) - Testimony ended Monday in the civil fraud case of Fabrice Tourre, with lawyers for former Goldman Sachs trader not calling any witnesses before the U.S. Securities and Exchange Commission's case goes to a Manhattan federal jury.

U.S., Japanese stocks boosts Loeb's Third Point fund

NEW YORK (Reuters) - Bets on U.S. and Japanese stocks helped Daniel Loeb's hedge fund, Third Point, gain 3.3 percent during the second quarter, even as equity and bond markets suffered rapid sell offs in June, the manager told his investors on Monday.

Judge says Bernanke should testify in AIG bailout lawsuit

(Reuters) - A U.S. judge ruled on Monday that Federal Reserve Chairman Ben Bernanke should testify in the multibillion-dollar lawsuit by the former chief of American International Group Inc , Maurice "Hank" Greenberg, against the United States over the insurer's 2008 bailout.

Exclusive: EU to clear US Airways, American $11 billion merger - sources

BRUSSELS (Reuters) - AMR Corp's American Airlines and US Airways will win EU approval for their $11 billion merger to become the world's largest carrier after agreeing to cede slots on a transatlantic route, three persons familiar with the matter said on Monday.