Business Today: Dow closes at another high, eyes turn to payrolls

	Click to View in Browser 03/7/2013 Dow closes at another high, eyes turn to payrolls NEW YORK (Reuters) - Stocks closed modestly higher on Thursday, with the Dow ending at a record for a third straight day as jobless claims data pointed to a pick-up in the labor market's recovery a day before the closely watched payrolls report. Jobless claims drop, signaling labor market gains WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting a pick-up in the labor market recovery and the pace of economic growth. Consumer credit increase largest in 5 months WASHINGTON (Reuters) - Consumer credit in January recorded its largest increase in five months, as consumers borrowed to buy cars and go to school, Federal Reserve data showed on Thursday. Macy's should have been told about Penney deal: ex-Martha chair NEW YORK (Reuters) - Macy's Inc should have had a chance to match rival J.C. Penney's offer to carry Martha Stewart products in its stores, the former chairman of Stewart's company testified on Thursday. For mortgage masters, 2013 is a bond-picker's market NEW YORK (Reuters) - For hedge funds that specialize in mortgage bond investing last year was almost too easy when it came to making money. But this year, mortgage debt traders are cautioning investors to temper their expectations. All but one major U.S. bank passes Fed's stress test WASHINGTON (Reuters) - U.S. banks have enough capital to withstand a severe economic downturn, the Federal Reserve said on Thursday, with all but one major bank passing the regulator's annual health check. Libor bank probes at advanced stage: EU antitrust official BRUSSELS (Reuters) - Probes into banks and brokers suspected of fixing benchmark Libor and Euribor interest rates are at an advanced stage, a senior EU antitrust official said on Thursday, accelerating the investigation process. States probing top U.S. banks over debt collection (Reuters) - The largest U.S. banks face a multi-state investigation into whether they helped debt collectors pursue faulty judgments against credit card customers, according to people familiar with the matter. Analysis: BNP Paribas takes a second swing at Asia growth plan HONG KONG/PARIS (Reuters) - BNP Paribas's second attempt since 2010 to expand in Asia is a bold move by the bank, as it plans a big hiring push at a time when many Western banks in the region are still scaling back. Chrysler invites IPO pitches, leaves door open to Fiat buyout NEW YORK/LONDON (Reuters) - U.S. carmaker Chrysler has asked banks to pitch next month for a mandate to run a potential public listing of its shares, four people familiar with the matter said, as parent Fiat wrangles with minority shareholder VEBA over a possible buyout. Related Video Techquity: Facebook going mobile, Apple gains in U.S. Volvo takes safety to pedestrians with exterior airbags Economic News Jobless claims drop, signaling labor market gains Consumer credit increase largest in 5 months A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend