The Other Side of Life 24/7: Daily Investor Briefing: Wall Street falls on Fed anxiety...

Tuesday, August 6, 2013

Daily Investor Briefing: Wall Street falls on Fed anxiety...

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08/6/2013

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 Street falls on Fed anxiety

NEW YORK (Reuters) - U.S. stocks dropped for a second consecutive day on Tuesday, after comments from a pair of U.S. Federal Reserve officials left investors uncertain about the timing of a possible reduction in its bond-buying program.

U.S. accuses Bank of America of mortgage-backed securities fraud

WASHINGTON (Reuters) - The U.S. government on Tuesday filed two civil lawsuits against Bank of America for what the Justice Department and securities regulators said was a fraud on investors involving $850 million of residential mortgage-backed securities.

Disney profit up slightly on parks, media networks

LOS ANGELES (Reuters) - Walt Disney Co said quarterly profits rose 1 percent from a year earlier as revenue grew at its theme parks and media networks.

Fox reports higher profit and revenue on cable increases

(Reuters) - Rupert Murdoch's newly separated 21st Century Fox reported higher revenue and profit because of growth at its cable operations and film studio.

U.S. trade gap hits three-and-half year low, may boost GDP growth

WASHINGTON (Reuters) - The U.S. economy likely grew faster than initially reported in the second quarter, thanks to a sharp narrowing in the trade deficit to its lowest in more than 3-1/2 years in June as exports touched a record high and imports fell.

CBS chief slams Time Warner Cable, calls offer a 'gesture'

(Reuters) - CBS Corp Chief Executive Leslie Moonves on Tuesday rejected the latest proposal by Time Warner Cable Inc to end its blackout of the network and dismissed the cable company's offer as a "public relations gesture."

Loeb wants Sony to lay out specific goals for entertainment unit

NEW YORK (Reuters) - Hedge fund manager Daniel Loeb expects Sony Corp to lay out a specific improvement plan and set financial targets for its entertainment business before the company's annual general meeting next May, according to a source close to the hedge fund.

Fed could taper in September but doesn't have to: Lockhart

WASHINGTON (Reuters) - The Federal Reserve could begin reducing the size of its bond-buying stimulus program as early as September but might wait longer if economic growth fails to pick up in the second half of the year, a top Fed official said on Tuesday.

Blackstone explores $4.5 billion La Quinta sale: source

NEW YORK (Reuters) - Blackstone Group LP is exploring a sale of La Quinta Inns & Suites, a budget hotel chain it values at around $4.5 billion, a person familiar with the matter said on Tuesday.

Ratio of U.S. job seekers to openings drops to four-year low

WASHINGTON (Reuters) - The ratio of unemployed Americans to every job opening fell in June to its lowest level in over four years, a positive sign for wages and the broader economy.