The Other Side of Life 24/7: Daily Investor Briefing: Exclusive: JPMorgan to stop making...

Thursday, September 5, 2013

Daily Investor Briefing: Exclusive: JPMorgan to stop making...

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09/5/2013

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

Exclusive: JPMorgan to stop making student loans - company memo

NEW YORK (Reuters) - JPMorgan Chase & Co will stop making student loans in October, according to a document reviewed by Reuters on Thursday, after the biggest U.S. bank concluded that competition from federal government programs limits its ability to expand the business.

Retailers rely on discounts to win back-to-school shoppers

NEW YORK (Reuters) - Some U.S. retailers reported stronger-than-expected August sales on Thursday, but many of them had to resort to deep discounts to attract back-to-school shoppers.

Wall Street ends up for third day after strong data

NEW YORK (Reuters) - U.S. stocks ended slightly higher, rising for a third day on Thursday after strong data indicated improving economic conditions, but caution capped gains ahead of Friday's payrolls report and its implication for the Federal Reserve's stimulus program.

Wal-Mart and Washington D.C. in minimum wage showdown

WASHINGTON (Reuters) - District of Columbia Mayor Vincent Gray could decide as early as this week whether to sign a minimum wage bill that could discourage Wal-Mart Stores Inc , the world's biggest retailer, from opening stores in the U.S. capital.

U.S. jobs, service sector data suggest Fed could taper soon

WASHINGTON/NEW YORK (Reuters) - Solid U.S. jobs and service sector data on Thursday bolstered views the Federal Reserve could start slowing its bond-buying program as soon as this month, but plunging orders for factory goods highlighted uncertainty around the economic outlook.

Raymond James hires Morgan Stanley team in Maine

(Reuters) - Raymond James Financial Inc said on Thursday it hired a team of four former Morgan Stanley Wealth Management advisers who managed more than $500 million in client assets to join the firm in Maine.

Emerging market pain dominates G20 economy talks

ST. PETERSBURG, Russia (Reuters) - Emerging and developed G20 powers struggled to find common ground on Thursday over the turmoil unleashed by the prospect of the United States reducing a flood of dollars to the world economy.

Penney to scrap Martha Stewart home goods line: NYPost

(Reuters) - J C Penney Co Inc is scrapping a line of products designed by Martha Stewart that rival Macy's Inc has claimed violated its contract with the home goods doyenne, the New York Post reported, citing sources familiar with the matter.

Alaska officials lobby Wal-Mart on salmon-critical move

ANCHORAGE, Alaska/SEATTLE (Reuters) - Alaska officials lobbied Wal-Mart Stores Inc on Thursday to keep selling the state's wild-caught salmon despite their decision to drop an environmental certification label required by the world's largest retailer.

U.S. unlikely to block Chinese purchase of Smithfield

WASHINGTON (Reuters) - The U.S. government should soon give the go-ahead for the largest ever Chinese acquisition of a U.S. company: a Chinese food group's $4.7 billion deal to buy Smithfield Foods Inc , a person familiar with the matter told Reuters.