The Other Side of Life 24/7: Daily Investor Briefing: Wall St. falls 1 percent on global...

Tuesday, October 7, 2014

Daily Investor Briefing: Wall St. falls 1 percent on global...

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10/7/2014

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. falls 1 percent on global growth concerns

NEW YORK (Reuters) - U.S. stocks ended sharply lower on Tuesday, with major indexes falling 1 percent in heavy trading, as weak data out of Germany raised concerns about the strength of global growth ahead of the start of earnings season.

U.S. Consumer credit rises less than expected in August

WASHINGTON (Reuters) - U.S. consumer credit increased less than expected in August and growth for the prior month was revised lower, giving a cautious signal about the pace of economic expansion.

U.S. job openings hit highest level since 2001

WASHINGTON (Reuters) - U.S. job openings rose to their highest level in more than 13 years in August even as hiring fell, the U.S. Department of Labor said.

Goldman Sachs ordered to pay Libyan fund's legal costs

LONDON (Reuters) - Goldman Sachs has been ordered to pay the Libyan Investment Authority (LIA) 200,000 pounds ($321,820) in legal costs as part of a lawsuit brought by the fund over $1 billion in trades that ended up worthless.

Wal-Mart to end healthcare benefits for some part-time workers

(Reuters) - Wal-Mart Stores Inc , the biggest private-sector employer in the United States, said on Tuesday it was ending healthcare coverage for tens of thousands of part-time workers to cut costs in a move that could prompt other companies to follow suit.

Barclays says New York 'dark pool' suit oversteps legal bounds

NEW YORK (Reuters) - Barclays PLC on Tuesday urged a New York court to toss the state attorney general's fraud case over how the bank ran its private U.S. trading venue, saying the case oversteps state securities laws and offers no proof any investors were hurt.

IMF cuts growth outlook, warns on euro zone, Japan

WASHINGTON (Reuters) - The International Monetary Fund cut its global economic growth forecasts for the third time this year on Tuesday, warning of weaker growth in core euro zone countries, Japan and big emerging markets like Brazil.

Ex-U.S. Treasury Secretary Timothy Geithner defends AIG bailout

WASHINGTON (Reuters) - Former U.S. Treasury Secretary Timothy Geithner on Tuesday defended the government's rescue of American International Group Inc in September 2008, saying the action was necessary to prevent the country from plunging into a possible second Great Depression.

Pimco's outflow headaches only just beginning

NEW YORK (Reuters) - Outflows from Pimco may be far from over as many investors have yet to decide whether to stick with the Newport Beach, California-based asset manager.

U.S. retail group expects brighter holiday season sales

CHICAGO (Reuters) - U.S. retail sales are expected to rise 4.1 percent this holiday season to $616.9 billion, outpacing last year's gains, though economic concerns may affect shoppers' spending, the world's largest retail trade body said on Tuesday.