The Other Side of Life 24/7: Daily Investor Briefing: Fed maintains strong stimulus as U.S....

Wednesday, October 30, 2013

Daily Investor Briefing: Fed maintains strong stimulus as U.S....

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10/30/2013

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

Fed maintains strong stimulus as U.S. growth stumbles

WASHINGTON (Reuters) - The Federal Reserve extended its support for a slowing U.S. economy on Wednesday, sounding a bit less optimistic about growth and saying it will keep buying $85 billion in bonds per month for the time being.

Facebook tops analyst revenue targets as mobile ads surge

SAN FRANCISCO (Reuters) - Facebook Inc topped Wall Street's revenue targets on Wednesday, as robust growth in its mobile advertising business drove a 60 percent increase in revenue.

Batista's OGX files for bankruptcy protection in Brazil

RIO DE JANEIRO (Reuters) - OGX Petróleo e Gas Participações SA, the Brazilian oil company controlled by former billionaire Eike Batista, sought court protection from creditors on Wednesday in Latin America's largest-ever corporate bankruptcy filing.

U.S. private hiring slows, inflation stays muted

WASHINGTON (Reuters) - U.S. private-sector employers hired the fewest workers in six months in October while tepid domestic demand kept inflation benign last month, suggesting the economy was still in need of stimulus from the Federal Reserve.

Visa profit falls 28 percent due to higher tax provision

(Reuters) - Visa Inc , the world's largest credit card company, reported a 28 percent fall in quarterly profit due to higher income tax provision.

NSA intercepts Google, Yahoo traffic overseas: report

SAN FRANCISCO (Reuters) - The National Security Agency has tapped directly into communications links used by Google and Yahoo to move huge amounts of email and other user information among overseas data centers, the Washington Post reported on Wednesday. It was unclear how the NSA accessed the links.

Twitter hit with $124 million lawsuit over private stock sale

NEW YORK (Reuters) - Twitter Inc was sued for $124 million on Wednesday by two companies claiming the social media darling fraudulently had them organize a private sale of its shares to stoke investor interest for an initial public offering then canceled it.

Qatar seeking to build $1 billion stake in Bank of America

(Reuters) - Qatar's sovereign wealth fund, one of the world's most prolific investors, is building a $1 billion holding in Bank of America , seeking to benefit from the U.S. economic recovery, the Financial Times reported, citing sources close to the plans.

S&P 500's four-day rally ends after Fed's weak view

NEW YORK (Reuters) - U.S. stocks fell on Wednesday, with the S&P 500 snapping a four-day streak of gains after the Federal Reserve said it had a weaker growth outlook for the economy, even as it held steady with its stimulus program for the time being.

Allstate profit falls 57 percent after life insurance sale

(Reuters) - Home and auto insurer Allstate Corp's quarterly profit more than halved as the company took an estimated $475 million after-tax loss on the sale of one of its life insurance businesses.