Career News 24/7: Reuters Money: Third-quarter growth revised up to 3.6 percent

Thursday, December 5, 2013

Reuters Money: Third-quarter growth revised up to 3.6 percent

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12/5/2013

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

Third-quarter growth revised up to 3.6 percent

WASHINGTON (Reuters) - The U.S. economy grew faster than initially estimated in the third quarter as businesses aggressively accumulated stock, but underlying domestic demand remained sluggish.

U.S. third-quarter growth revised up to 3.6 percent, jobless claims fall

WASHINGTON (Reuters) - The U.S. economy grew faster than initially estimated in the third quarter as businesses aggressively accumulated stock, but underlying domestic demand remained sluggish and buoyed the case for the Federal Reserve to keep up its stimulus for now.

Ex-aide says Madoff workers duped investor's account postmortem

NEW YORK (Reuters) - To hear his former aide tell it, even a client's death posed no problem for Bernard Madoff as he perpetrated his massive Ponzi scheme.

Merrill pay plan focuses on broker teams and trust assets

NEW YORK (Reuters) - The 2014 compensation plan that Merrill Lynch introduced on Wednesday rewards brokers who work in teams and pays them a premium for attracting money from wealthy clients that is put into trusts.

Bank of America settles municipal bond rigging lawsuit

NEW YORK (Reuters) - Bank of America Corp has agreed to pay $20 million to settle a lawsuit in which investors accused it of rigging bids for municipal securities, court papers filed on Wednesday show.

U.S. House passes bill to exempt private equity funds from rules

WASHINGTON (Reuters) - The U.S. House of Representatives passed a bill on Wednesday that would largely spare private equity fund advisers from federal regulations enacted after the 2007-2009 financial crisis.

U.S. November same-store sales index expected to rise 2.7 percent

Dec 4 - With a late Thanksgiving this year, retailers rolled out the discounts earlier than usual in November and consumers started holiday shopping. However, people still feel a sense of cautiousness about spending and Black Friday sales were down.

Wall Street groups contest CFTC cross-border guidelines

WASHINGTON (Reuters) - Three Wall Street trade groups sued the U.S. Commodity Futures Trading Commission on Wednesday in hopes of beating back tough overseas trading guidelines they fear could hurt markets and cut profits.

Hedge fund Passport Capital gains with Asian internet stocks

BOSTON (Reuters) - Booming Asian internet stocks have fueled Passport Capital's double-digit gains this year at a time when many hedge funds have delivered only modest returns.