Business Today: Robust auto sales keep economy on steady growth path

	Click to View in Browser 09/4/2013 Robust auto sales keep economy on steady growth path WASHINGTON (Reuters) - The U.S. economy appears to be faring better in the third quarter than analysts had feared with automakers reporting surprisingly strong August sales on Wednesday, helping to buoy expectations of a pullback in monetary stimulus ahead. Wall Street ends up for second day on strong auto sales NEW YORK (Reuters) - U.S. stocks ended higher for a second day on Wednesday on strong auto sales and as a possible military action in Syria was seen as limited. Samsung unveils smartwatch to power Galaxy Note sales BERLIN/SEOUL (Reuters) - Samsung Electronics Co Ltd unveiled a smartwatch on Wednesday that works as an accessory to its market-leading Galaxy smartphone, with a small screen offering basic functions like photos, hands-free calls and instant messaging. Qualcomm jumps into 'wearables' fray with Toq smartwatch SAN DIEGO (Reuters) - Qualcomm Inc will begin selling its "Toq" smartwatch, a wrist-worn device that can play music and handle phone calls and messages, in the fourth quarter, marking the chipmaker's entry into the consumer electronics and wearable computing arenas. Exclusive: Ackman's fund flat after August losses - sources BOSTON (Reuters) - William Ackman's Pershing Square Capital Management is largely flat for the year after a bruising August in which the hedge fund lost 3.6 percent, said two investor sources who are not permitted to discuss the private fund's numbers publicly. ETF 'Godfather,' two others, to exit trading firm KCG NEW YORK (Reuters) - KCG Holdings Inc , the trading firm formed in July after Getco Holding Co's $1.4 billion takeover of Knight Capital Group, said on Wednesday that the head of its exchange-traded funds team and two other managers were leaving the company. U.S. economy growing at 'modest to moderate' pace: Fed WASHINGTON (Reuters) - The U.S. economy expanded at a "modest to moderate" pace in most of the country between early July and late August, according to a Federal Reserve report that was just strong enough to reinforce the prospect of a pullback in monetary stimulus. SEC 'monitoring developments' after latest Nasdaq outage WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said it was in contact with Nasdaq OMX Group after another brief outage in the system that was at the heart of the exchange's three-hour trading halt last month. Finmeccanica in draft deal to sell Ansaldo Energia stake: source MILAN (Reuters) - Italy's Finmeccanica has reached a preliminary agreement to sell a majority stake in power unit Ansaldo Energia to South Korea's Doosan Heavy Industries , a source with direct knowledge of the situation told Reuters. U.S. judge puts SAC Capital civil lawsuit on hold NEW YORK/BOSTON (Reuters) - A U.S. judge put on hold a civil forfeiture lawsuit against Steven A. Cohen's SAC Capital Advisors hedge fund on Wednesday while a criminal insider-trading case moves forward. Related Video Daily Digit: 16 mln vehicles Invitation fuels Apple deal rumors Economic News U.S. economy growing at 'modest to moderate' pace: Fed Fed's Williams says he's open-minded on cutting bond buys this month 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