Career News 24/7: Daily Investor Briefing: Wall St. ends mostly lower; Nasdaq...

Thursday, May 8, 2014

Daily Investor Briefing: Wall St. ends mostly lower; Nasdaq...

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05/8/2014

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 St. ends mostly lower; Nasdaq down for third session

NEW YORK (Reuters) - U.S. stocks mostly fell on Thursday with the S&P 500 and the Nasdaq closing lower, led by losses in the energy and utility sectors.

Could take 5-8 years to shrink Fed portfolio: Yellen

NEW YORK/WASHINGTON (Reuters) - The U.S. Federal Reserve is in no rush to decide the appropriate size of its balance sheet, but if it ultimately shrinks it to a pre-crisis size, the process could take the better part of a decade, Fed Chair Janet Yellen said on Thursday.

Asia success still long shot for ambitious Fiat Chrysler

DETROIT (Reuters) - If Fiat Chrysler Automobiles wants to become a significant force in Asia, it needs to succeed in China. But its track record so far in the world's largest automobile market raises doubts about its ability to deliver on growth promises, analysts say.

Venture firm Atomico sues ex-employee, consultant for double-dipping

SAN FRANCISCO (Reuters) - Atomico Partners, a London-based venture firm founded by Skype co-founder Niklas Zennstrom, is suing a former employee and consultant for secretly diverting potential Atomico investments to a venture firm that the two were building.

U.S. lawmakers air concerns over Comcast-Time Warner Cable deal

WASHINGTON (Reuters) - Lawmakers expressed concern about combining the top two U.S. cable operators at a congressional hearing Thursday to discuss Comcast's plan to merge with Time Warner Cable Inc.

GM recalls about 8,500 Buick, Chevy cars for brake problem

DETROIT (Reuters) - General Motors Co said on Thursday it has recalled 8,590 Buick and Chevrolet sedans in North America to address a potential braking problem.

Glencore Xstrata names ex-BP boss Hayward as chairman

LONDON (Reuters) - Glencore Xstrata confirmed Tony Hayward as permanent chairman of the mining and commodities trading group, sealing the former BP chief executive's comeback from the worst offshore oil spill in U.S. history.

Barclays axes 19,000 jobs, reins in Wall Street ambitions

LONDON (Reuters) - Britain's Barclays reined in its ambitions to be a Wall Street powerhouse on Thursday and signaled a return to its retail roots with a plan to hive off much of its investment bank and axe one in four jobs at the division.

Target's first misstep in Canada may have been wrong footprint

TORONTO (Reuters) - Target Stores Inc's problems in Canada may have started with its first step: deciding to occupy the premises of a failed discount chain that didn't have the panache Canadians anticipated they would find in a retailer renowned for its "cheap chic."

Exclusive: U.S. banking regulators hire math geeks of their own

(Reuters) - A few years ago, famed financial engineer Andrew Lo built a computer model that allowed one of the biggest U.S. banks to figure out which customers were most likely to fall behind on credit-card payments.