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Friday, December 20, 2013

Daily Investor Briefing: Wall Street ends higher after GDP data...

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12/20/2013

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Wall Street ends higher after GDP data

NEW YORK (Reuters) - U.S. stocks rose on Friday, capping the best week for the major indexes in months as unexpectedly strong data on economic growth increased confidence that the recovery was accelerating.

Yellen takes big step toward taking reins at Fed

WASHINGTON (Reuters) - Janet Yellen, an unwavering advocate of the Federal Reserve's aggressive steps to boost the U.S. economy, on Friday took a big step toward becoming the first woman to chair the central bank as her nomination cleared a Senate procedural hurdle.

U.S. growth revised higher, economy on firmer footing

WASHINGTON (Reuters) - The U.S. economy grew at its fastest pace in almost two years in the third quarter, the government said on Friday as it revised its estimates of business and consumer spending higher.

AT&T to join Verizon in government data-request disclosures

(Reuters) - AT&T Inc will join rival Verizon Communications in disclosing details on government requests for customer data starting in 2014, after investors called on the two largest U.S. carriers to reveal more about controversial spying operations.

Insight: To flee Ohio oil boom, Amish cash out by selling royalties

ST CLAIRSVILLE, Ohio (Reuters) - Farmers in the close-knit Amish community who eschew electricity and most technology, are among landowners capitalizing on a new financial trend in the United States energy boom - selling decades of future oil and natural gas royalties for an immediate pile of cash.

Analysis: As Fed tapers, don't count out emerging market currencies

NEW YORK (Reuters) - When the Federal Reserve first started talking about cutting its massive stimulus earlier this year, emerging-market currencies went into a tailspin. This time round, investors don't see that happening.

Judge denies bid to delay insider trading trial of SAC executive

NEW YORK (Reuters) - Mathew Martoma, the latest employee of Steven A. Cohen's SAC Capital Advisors to face trial on insider trading charges, lost a bid on Friday to delay his trial, which is scheduled to start on January 6.

Deutsche Bank to pay $1.9 billion to settle U.S. mortgage case

FRANKFURT/NEW YORK (Reuters) - Deutsche Bank said on Friday it will pay $1.9 billion to settle claims that it defrauded two U.S. government-controlled companies in the sale of mortgage-backed securities before the 2008 financial crisis.

BlackBerry steps back on handset business, shares jump

TORONTO (Reuters) - BlackBerry Ltd said on Friday it was entering a handset production deal that lowers the risk it will have to take more massive writedowns on unsold smartphones, and its shares surged even though it posted dismal quarterly results.

Pentagon, suppliers draft plan to lower F-35 cost: Pratt

WASHINGTON (Reuters) - The U.S. Defense Department and top suppliers on the $392 billion F-35 fighter program are developing a plan to drive down the cost of the Pentagon's most expensive weapons program, the head of enginemaker Pratt & Whitney told Reuters.