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Wednesday, August 22, 2012

Business Today: S&P 500 closes flat after Fed minutes

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08/22/2012
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
S&P 500 closes flat after Fed minutes
NEW YORK (Reuters) - The S&P 500 finished flat on Wednesday as U.S. stocks rallied back from earlier losses after minutes from the Federal Reserve's latest meeting indicated the central bank might be ready for another round of stimulus.
HP posts mega-loss after EDS writedown
SAN FRANCISCO (Reuters) - Hewlett-Packard Co reported on Wednesday a loss of $8.85 billion after a writedown on the value of its services business, mostly related to its purchase of Electronic Data Systems Corp.
Analysis: In Apple vs. Samsung, alchemy of damages takes the stage
SAN JOSE, Calif (Reuters) - Between the hotshot designers and brainy engineers Apple Inc questioned for three weeks in the company's bitterly fought patent battle against Samsung Electronics Co Ltd, a marketing expert from MIT took Apple's lawyers all of three minutes.
Fed looks set to ease fairly soon barring swift rebound
WASHINGTON (Reuters) - The Federal Reserve is likely to deliver another round of monetary stimulus "fairly soon" unless the economy improves considerably, minutes released on Wednesday from the U.S. central bank's August meeting suggested.
Exclusive: KAR Auction exploring leveraged buyout - sources
NEW YORK (Reuters) - Vehicle auction company KAR Auction Services Inc has held exploratory talks with private equity firms about a potential leveraged buyout, two people familiar with the matter said on Wednesday, in a deal that would top $4 billion.
Knight Capital rescuers let Scottrade in on deal
NEW YORK (Reuters) - The financial services firms that rescued Knight Capital Group after its near-fatal software glitch earlier this month have sold some of their preferred stock in the firm to retail online broker Scottrade, according to three people familiar with the transactions.
Peregrine Financial trustee, clients parry over return of funds
SAN FRANCISCO/NEW YORK (Reuters) - Six weeks after the collapse of Peregrine Financial Group, tensions are rising between customers clamoring for the release of frozen funds and a bankruptcy trustee skeptical of records at a brokerage whose CEO confessed to forging financial data.
Brokers say Nasdaq's Facebook compensation plan not enough
NEW YORK (Reuters) - Nasdaq OMX Group Inc's $62 million compensation plan for firms harmed by technical problems during Facebook's market debut does not go far enough, broker-dealers said in U.S. Securities and Exchange Commission filings.
Home resales rise, housing recovery inches along
WASHINGTON (Reuters) - Home resales rose in July, helped by low interest rates and increased hiring although the data still pointed to a slow recovery in housing that will provide only slight support for the economy.
Eurogroup chief keeps Greek bailout extension hopes alive
ATHENS (Reuters) - Eurogroup chief Jean-Claude Juncker kept alive Greek hopes of winning more time to push through austerity cuts but warned the country was staring at its "last chance" to avoid bankruptcy.
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