Business Today: Fed uncertainty drives Wall Street to third straight drop

	Click to View in Browser 08/7/2013 Fed uncertainty drives Wall Street to third straight drop NEW YORK (Reuters) - Stocks lost ground for a third consecutive session on Wednesday on growing uncertainty over when the Federal Reserve may start to wind down its stimulus, which has been a driving force behind the rally in equities this year. Groupon plans $300 million share buyback; revenue exceeds estimates SAN FRANCISCO (Reuters) - Groupon Inc announced a $300 million share repurchase program and tapped interim chief executive Eric Lefkofsky to lead on a permanent basis. . Fed's Pianalto prepared for QE retreat if job gains continue CLEVELAND (Reuters) - The Federal Reserve could soon begin reducing the pace of its bond-buying stimulus if recent improvement in the U.S. job market persists, the president of the Cleveland Fed, Sandra Pianalto, said on Wednesday. Exclusive: TPG explores $3 billion sale of specialty drugmaker Aptalis NEW YORK (Reuters) - TPG Capital LP has been exploring a sale of Aptalis Pharma, a specialty drugmaker it has owned since 2008 and values at more than $3 billion, four people familiar with the matter said on Wednesday. Mondelez profit beats Street; share buyback amount raised (Reuters) - Mondelez International Inc , the maker of Cadbury chocolate, reported quarterly earnings that topped Wall Street views even while falling from a year earlier and dramatically raised its share buyback authorization on Wednesday. Bank of England ties rates to jobs, markets unconvinced LONDON (Reuters) - The Bank of England broke with tradition on Wednesday, planning to keep interest rates at a record low until unemployment falls to 7 percent or below, which it said could take three years. Potash Corp sees BPC breakup as short term WINNIPEG, Manitoba (Reuters) - Potash Corp of Saskatchewan Chief Executive Bill Doyle said on Wednesday he doesn't expect the breakup of Belarusian Potash Co (BPC) to last long, and he disputed predictions that the split would spur a steep potash price drop. U.S. consumer credit rises less than expected in June WASHINGTON (Reuters) - U.S. consumer credit rose less than expected in June, Federal Reserve data showed on Wednesday, as loans for items such as cars and education increased while credit card use fell by the most in a year. Glencore, JPMorgan sued over warehouse aluminum prices SINGAPORE/LONDON (Reuters) - Glencore Xstrata and JPMorgan Chase & Co face a U.S. lawsuit alleging they artificially inflated aluminum prices and disrupted supplies, as legal challenges related to metal warehousing piled up this week. After strong second quarter, Time Warner's ups year forecast, sets Time spinoff (Reuters) - Hit movies and strong cable TV advertising boosted Time Warner Inc's second-quarter profit, and the media company raised its profit forecast for the year and said the spinoff of its Time Inc magazine division would be early next year. Related Video Programmatic buying will drive advertising-Forrester's Nail Techquity: AOL back to the future; Facebook gets a boost Economic News Fed's Pianalto prepared for QE retreat if job gains continue U.S. consumer credit rises less than expected in June 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