Reuters Money: U.S. economy finds momentum in second quarter, further gains seen

	Click to View in Browser 07/31/2013 U.S. economy finds momentum in second quarter, further gains seen WASHINGTON (Reuters) - U.S. economic growth unexpectedly accelerated in the second quarter, laying a firmer foundation for the rest of the year that could bring the Federal Reserve a step closer to cutting back its monetary stimulus. Column: Should you worry about Detroit's pension woes? CHICAGO (Reuters) - The news from Detroit is enough to rattle anyone relying on a traditional pension: an unprecedented bankruptcy filing by a major U.S. city that opens the door to possible sharp cuts in benefits. After Detroit, muni bonds are safe, but no slam dunk CHICAGO (Reuters) - Despite the Detroit bankruptcy and record sell-off of municipal bonds this year, most top-quality "munis" are safe to hold. AllianceBernstein revenue rises, but Asia clients jittery (Reuters) - U.S. money manager AllianceBernstein Holding LP said on Wednesday that second-quarter net revenue rose 14 percent, beating Wall Street estimates, but retail investors in Asia pulled money from their accounts in June amid anxiety over the direction of U.S. interest rates. LPL Financial's quarterly profit rises 14 percent (Reuters) - LPL Financial Holdings Inc, the largest U.S. independent brokerage network, reported on Wednesday that second-quarter profit jumped 14 percent on increased revenue from commissions and advisory services. Morgan Stanley fined for selling exotic funds to unwary investors NEW YORK (Reuters) - Morgan Stanley has agreed to pay a $100,000 fine to New Jersey state securities regulators for selling exotic exchange-traded funds to unwary investors, state officials said on Tuesday. Ackman's fund sitting on growing losses on Herbalife bet BOSTON/NEW YORK (Reuters) - Herbalife's surging stock price may be causing hedge fund manager William Ackman gastrointestinal pain now that he is nursing $300 million in losses due to his billion dollar bet that the nutrition and supplement maker's shares would fall. JPMorgan to pay $410 million to settle power market case NEW YORK (Reuters) - JPMorgan Chase & Co agreed on Tuesday to pay $410 million to settle allegations of power market manipulation in California and the Midwest, the latest in a series of high-profile inquiries by U.S. federal energy regulators. More investors cautious on Treasuries yields as Fed awaited: survey NEW YORK (Reuters) - More investors turned cautious on the outlook for yields on U.S. Treasuries in the latest week as they await a policy statement from the Federal Reserve that could offer indications of when the Fed will begin to reduce its bond purchases, a survey released on Tuesday showed. Greenlight's Einhorn cuts gold bullion to invest in miners NEW YORK (Reuters) - David Einhorn, head of hedge fund Greenlight Capital, said on Tuesday that he remained bullish on gold and that earnings growth would accelerate for General Motors Co later this year. Related Video Why bruised Brazil is a buy How to play banker on the web Business News Wall Street opens modestly higher after data U.S. economy finds momentum in second quarter, further gains seen The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. 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