Business Today: Wall Street ends lower on uncertainty about Fed's move

	Click to View in Browser 08/6/2013 Wall Street ends lower on uncertainty about Fed's move NEW YORK (Reuters) - U.S. stocks slid for a second consecutive day on Tuesday after comments from a pair of U.S. Federal Reserve officials left investors uncertain about the timing of a possible reduction in its bond-buying program. U.S. accuses Bank of America of mortgage-backed securities fraud WASHINGTON (Reuters) - The U.S. government on Tuesday filed two civil lawsuits against Bank of America for what the Justice Department and securities regulators said was a fraud on investors involving $850 million of residential mortgage-backed securities. Disney profit up slightly on parks, media networks LOS ANGELES (Reuters) - Walt Disney Co said quarterly profits rose 1 percent from a year earlier as revenue grew at its theme parks and media networks. Fox reports higher profit and revenue on cable increases (Reuters) - Rupert Murdoch's newly separated 21st Century Fox reported higher revenue and profit because of growth at its cable operations and film studio. U.S. trade gap hits three-and-half year low, may boost GDP growth WASHINGTON (Reuters) - The U.S. economy likely grew faster than initially reported in the second quarter, thanks to a sharp narrowing in the trade deficit to its lowest in more than 3-1/2 years in June as exports touched a record high and imports fell. CBS chief slams Time Warner Cable, calls offer a 'gesture' (Reuters) - CBS Corp Chief Executive Leslie Moonves on Tuesday rejected the latest proposal by Time Warner Cable Inc to end its blackout of the network and dismissed the cable company's offer as a "public relations gesture." Loeb wants Sony to lay out specific goals for entertainment unit NEW YORK (Reuters) - Hedge fund manager Daniel Loeb expects Sony Corp to lay out a specific improvement plan and set financial targets for its entertainment business before the company's annual general meeting next May, according to a source close to the hedge fund. Ebix says money laundering allegations are false; shares slide (Reuters) - Ebix Inc on Tuesday said allegations that it was involved in money laundering were false, after its shares tumbled on a Bloomberg report that federal investigators were reviewing the insurance software maker's cross-border financial transactions. Mead Johnson settles with China over baby formula probe (Reuters) - Mead Johnson Nutrition Co on Tuesday said it will pay a penalty of about $33 million related to a probe by China into anti-competitive behavior by baby formula makers. Fed could taper in September but doesn't have to: Lockhart WASHINGTON (Reuters) - The Federal Reserve could begin reducing the size of its bond-buying stimulus program as early as September but might wait longer if economic growth fails to pick up in the second half of the year, a top Fed official said on Tuesday. Related Video How to grow spinach on Mars Daily Digit: Electric car sales only 0.5% Economic News U.S. trade gap hits three-and-half year low, may boost GDP growth Fed could taper in September but doesn't have to: Lockhart 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