Business Today: EBay profit rises but outlook disappoints

	Click to View in Browser 10/16/2013 EBay profit rises but outlook disappoints (Reuters) - EBay Inc reported a higher third-quarter profit on Wednesday as more transactions were paid for with its PayPal service, but the e-commerce company gave a disappointing sales forecast for the holiday season. Wall Street jumps 1 percent as debt ceiling deal seems near NEW YORK (Reuters) - U.S. stocks closed more than 1 percent higher on Wednesday after Senate leaders said they had a deal to reopen the federal government and raise the debt ceiling, which would avoid the threat of a debt default. Bank of America posts profit, fueled by consumer banking (Reuters) - Bank of America Corp posted a higher-than-expected quarterly profit on Wednesday as growth in its consumer and wealth management arms underscored the bank's progress in stitching together businesses it picked up in the financial crisis. IBM third-quarter EPS beats Street, revenue misses (Reuters) - IBM, the world's largest technology services company, reported third-quarter earnings that beat Wall Street estimates but it missed revenue expectations. Billionaire Mark Cuban did not engage in insider trading: jury DALLAS (Reuters) - Mark Cuban, billionaire owner of the Dallas Mavericks basketball team, did not engage in insider trading when he sold his stock in an Internet company in 2004, a Texas jury decided on Wednesday. American Express profit rises 9.3 percent (Reuters) - American Express Co posted a 9.3 percent increase in quarterly profit as people spent more using the company's credit cards. Analysis: Tax perks at risk, Mexico factories shelve growth plans TLAXCALA, Mexico (Reuters) - Mexican assembly plants have put expansion plans on ice pending a tax overhaul that threatens their perks, but low wages and proximity to the United States should deter any mass exodus to manufacturing rivals like China. Toys R Us picks interim CEO for top post, gets new U.S. president (Reuters) - Toys R Us Inc on Wednesday named its interim chief executive officer to the role full-time and said it hired an executive with experience at rival Wal-Mart Stores Inc to run its U.S. business, ending an eight-month leadership search as it prepares for the holiday season. Monte Paschi to meet London investors over cap hike: source LONDON/MILAN (Reuters) - Banca Monte dei Paschi di Siena will sound out foreign investors in London over the next few days to raise support for a hefty 2.5 billion euro ($3.37 billion) capital increase that the troubled Italian bank must complete next year. JPMorgan to pay $100 million in latest 'London Whale' fine WASHINGTON (Reuters) - The London Whale is the gift that keeps giving for regulators. Related Video Coming so close to default tarnished U.S. reputation-Hopkins New Yorkers fed up with Washington Economic News U.S. economy was steady as budget battle began: Fed At 11th hour, U.S. edges away from brink of debt crisis 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