Business Today: Wall Street falls, volatility spikes on Washington stalemate

	Click to View in Browser 10/8/2013 Wall Street falls, volatility spikes on Washington stalemate NEW YORK (Reuters) - U.S. stocks slid on Tuesday as traders cashed in gains in some of the year's best performers amid little progress to end a political crisis in Washington. In tight decision, a Fed centrist wanted to trim QE JOHNSTOWN, Pa./NEW YORK (Reuters) - A Federal Reserve official known for her centrist views said on Tuesday she wanted to reduce the U.S. central bank's asset purchases last month, adding her voice to the Fed's so-called policy hawks who have spoken out against the shock decision to leave monetary policy unchanged. Trial of Madoff employees in New York begins with jury selection NEW YORK (Reuters) - The trial of five former employees of imprisoned swindler Bernard Madoff began on Tuesday with questions for dozens of potential jurors, including whether they were familiar with some of the most famous victims of the multibillion-dollar fraud. France calls on Alcatel-Lucent to review plan for mass job cuts PARIS (Reuters) - French president Francois Hollande called on Alcatel-Lucent on Tuesday to save as many jobs as possible in France after the telecoms equipment maker said it plans to cut 10,000 jobs worldwide, about 14 percent of its entire workforce. Analysis: Take HP's slide personally, CEO Whitman tells employees SAN FRANCISCO (Reuters) - When Hewlett-Packard Co was removed from the Dow Jones Industrial Average a month ago, Chief Executive Officer Meg Whitman sent an impassioned email to the company's 300,000-plus employees. IMF say global economy healthier, but still weak WASHINGTON (Reuters) - The International Monetary Fund expressed guarded optimism about the state of the global economy on Tuesday, even as it trimmed its forecasts for output and warned about the catastrophic impact of a potential U.S. debt default. Yum warns that China sales won't rise in fourth quarter (Reuters) - KFC parent Yum Brands Inc on Tuesday warned that sales at established restaurants in its top market of China are unlikely to rebound in the fourth quarter, as it had expected, and its shares tumbled 6.5 percent in extended trading. Pentagon to withhold 5 percent of billings for Pratt's F-35 engines WASHINGTON (Reuters) - Jet engine maker Pratt & Whitney said on Tuesday it is working to fix the system it uses to provide the Pentagon with cost and schedule information, after the U.S. government decided to withhold 5 percent of future billings on four F-35 fighter engine contracts and a Navy deal. U.S. ban on some Samsung products to go into effect WASHINGTON (Reuters) - Some older Samsung Electronics Co smartphones and tablets could be taken off store shelves in the United States after the U.S. Trade Representative opted not to reverse a ban ordered because the devices infringe Apple Inc patents. Wave of Brazil hotel mergers brews as middle class grows SAO PAULO (Reuters) - Mergers and acquisitions in Brazil's thriving hotel industry are increasing ahead of soccer's World Cup and the Olympics, as smaller players struggle to survive and leisure travel surges among the nation's thriving middle class. Related Video Daily Digit: $30.8 mln diamond Scientists go with their gut for bacterial bio-fuel Economic News Obama tells Republicans he will negotiate once they end 'threats' In tight decision, a Fed centrist wanted to trim QE 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