The Other Side of Life 24/7: Daily Investor Briefing: Wall Street ends down on second day...

Wednesday, October 2, 2013

Daily Investor Briefing: Wall Street ends down on second day...

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10/2/2013

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 ends down on second day of shutdown

NEW YORK (Reuters) - U.S. stocks ended lower on Wednesday on the second day of a partial U.S. government shutdown shortly before congressional leaders and President Barack Obama were scheduled to meet to discuss the budget impasse and raising the U.S. debt limit.

General Motors takes a look under Tesla's hood

(Reuters) - In Wall Street's retelling of the biblical Book of Samuel, General Motors Co is Goliath and electric car maker Tesla Motors Inc is David, the would-be giant slayer.

BlackBerry shares rise on possible Cerberus bidding interest

TORONTO/NEW YORK (Reuters) - The possibility of a second offer for BlackBerry Ltd reversed a slide in its stock price on Wednesday after the struggling smartphone maker said it expected to record $400 million in pre-tax charges related to cuts announced last month.

Danone wants full compensation from Fonterra after recall

WELLINGTON (Reuters) - Danone says it is seeking full compensation from New Zealand dairy exporter Fonterra over a contamination scare involving a Fonterra ingredient used in milk formula produced by the French food manufacturer.

Activist investor Loeb calls on Sotheby's CEO to quit

(Reuters) - Activist investor Daniel Loeb's Third Point LLC has raised its stake in Sotheby's and called for the resignation of the auctioneer's chief executive and chairman on concerns about the company's leadership and strategic direction.

Fed's Rosengren: trimming bond-buying would be 'premature'

(Reuters) - Slow growth and a weak jobs market mean the U.S. economy will continue to need support from accommodative monetary policy for years to come, a top U.S. central banker said on Wednesday.

U.S. private sector jobs tepid, mortgage applications near flat

NEW YORK (Reuters) - U.S. private employers added fewer jobs than expected in September and mortgage applications remained near flat in the latest week, underscoring expectations that growth in the world's biggest economy will stay steady but sluggish.

Highfields Capital to return up to $2 billion to clients

BOSTON (Reuters) - Highfields Capital, which oversees $13 billion in assets for universities, hospitals and wealthy investors, plans to return as much as $2 billion to clients because it believes it can deliver better returns with less money.

Fed trying to ensure small banks not hurt by new rules: Bernanke

WASHINGTON (Reuters) - The Federal Reserve is being careful not to place too great a burden on smaller banks as it seeks to beef up regulation of the financial system, Fed Chairman Ben Bernanke said on Wednesday.

Iamgold CEO committed to low-grade gold

(Reuters) - Stephen Letwin is a man of conviction. The chief executive of mid-tier gold miner Iamgold Corp believes low-grade deposits are the future, whether the industry is ready or not.