Business Today: Wall Street up on Summers' withdrawal; Obama curbs gains

	Click to View in Browser 09/16/2013 Wall Street up on Summers' withdrawal; Obama curbs gains NEW YORK (Reuters) - U.S. stocks advanced on Monday after former Treasury Secretary Lawrence Summers withdrew as a candidate for Federal Reserve chairman, lifting some market uncertainty about what was heading towards a contentious confirmation process. JPMorgan near deal on Whale probes for about $700 million: source (Reuters) - JPMorgan Chase & Co is near a final settlement of probes into its London Whale derivatives loss and expects to pay about $700 million, according to source familiar with the matter. Traders bet on later Fed rate hike with Summers out of picture (Reuters) - Traders are betting the Federal Reserve will keep policy easier for longer now that former Treasury Secretary Lawrence Summers is out of the running to succeed Ben Bernanke as chairman of the U.S. central bank. Pratt sees 2.5 pct or more cost cut on next F-35 engines NATIONAL HARBOR, Maryland (Reuters) - Pratt & Whitney, a unit of United Technologies Corp , on Monday said it expects to drive down the cost of the F135 engines it builds for the U.S. F-35 fighter jet at least 2.5 percent, and perhaps more, in its next two production contracts. IMF disburses $113 million for bailed-out Cyprus NICOSIA (Reuters) - The International Monetary Fund said on Monday it had completed its first review of its bailout program for Cyprus, enabling the disbursement of $113 million. Bombardier's all-new CSeries makes inaugural flight MIRABEL, Quebec (Reuters) - Bombardier Inc's CSeries jetliner successfully completed its first flight on Monday, a key step in a $3.4 billion program to develop the first all-new narrow-body plane of its size in decades that the company hopes will increase sales. U.S. options trading again halted due to systems glitch NEW YORK (Reuters) - Options trading was halted sporadically across all U.S. markets on Monday due to an unexplained issue with the system that distributes price quotes, the latest technology failure to spotlight disruptions in U.S. securities trading. Exclusive: Goldman names Chavez as CIO, when Scopellite retires NEW YORK (Reuters) - Goldman Sachs Group Inc has named R. Martin Chavez to become chief information officer when Steven Scopellite, a 28-year veteran of the bank's technology group, retires at year-end, according to internal memos on Monday. Manufacturing sector regaining some momentum WASHINGTON (Reuters) - U.S. factory output surged in August as the pace of motor vehicle assemblies jumped to a six-year high, a hopeful sign for the economy after a slow start to the third quarter. Lockheed Martin wins rare commercial contract for Atlas launch CAPE CANAVERAL, Florida (Reuters) - Lockheed Martin Corp has won a rare commercial contract for launch services on its unmanned Atlas 5 rocket, officials said on Thursday. Related Video Yellen Fed Chair nomination not assured- Macquarie's Wizman Chrysler battle gears up ahead of planned IPO filing Economic News Manufacturing sector regaining some momentum White House says Fed chair nomination expected in the fall 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