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• Equities higher before Fed, German ruling
• U.S. Aaa rating depends on fall in debt ratio: Moody's
• Morgan Stanley, Citigroup value brokerage at $13.5 billion
• Wells Fargo sees net interest decline in third quarter: CFO
• IRS awards $104 million to UBS tax case whistleblower
• July trade gap widens as exports to Europe slump
• Legg Mason CEO Fetting stepping down; stock jumps
• McDonald's August sales rebound as value makes comeback
• Pain prescribed as Deutsche duo slice jobs, bonuses
• Wal-Mart plans 3-5 more India wholesale stores this year
• US stocks rise ahead of Fed meeting
• Premiums for family health plans hit $15,745
• Morgan Stanley to buy Citi's Smith Barney stake
• Moody's set to downgrade US without budget deal
• Last days of summer push up gasoline prices
• Legg Mason CEO to step down, temporary CEO named
• Nielsen shows how people use TV differently
• Retail group says it opposes card fee settlement
• McDonald's sales bounce back on value deals
• Boehner expresses no confidence on budget deal

Equities higher before Fed, German ruling Posted: 11 Sep 2012 08:52 AM PDT NEW YORK (Reuters) - Stocks were higher on Tuesday, with investors expecting quiet trading ahead of a key decision by a German court and possible policy action from the Federal Reserve that could point to more monetary stimulus. Wall Street's advance was led by energy and financial names, but volume was light with a busy calendar ahead later in the week. "I wouldn't trust anything that happens today as an investor or trader," said Tom Alexander, head of Alexander Trading, in Savannah, Georgia. "The markets are probably going to be rotational. ...

U.S. Aaa rating depends on fall in debt ratio: Moody's Posted: 11 Sep 2012 06:57 AM PDT LONDON/NEW YORK (Reuters) - The United States may lose its triple-A debt rating if next year's budget negotiations do not produce policies that over time decrease the country's debt, Moody's Investors Service said on Tuesday. "If those negotiations lead to specific policies that produce a stabilization and then downward trend in the ratio of federal debt to GDP over the medium term, the rating will likely be affirmed and the outlook returned to stable," Moody's said in an emailed statement. ...

Morgan Stanley, Citigroup value brokerage at $13.5 billion Posted: 11 Sep 2012 08:09 AM PDT (Reuters) - Morgan Stanley has agreed to buy the rest of its brokerage joint venture from Citigroup Inc over time at a price that values the business at $13.5 billion, a victory for Morgan Stanley and far lower than the $22 billion that Citigroup had originally sought. Under terms of the agreement, Morgan Stanley will buy another 14 percent of Morgan Stanley Smith Barney now, and will buy Citigroup's remaining 35 percent stake by June 1, 2015. The deal is subject to regulatory approval. ...

Wells Fargo sees net interest decline in third quarter: CFO Posted: 11 Sep 2012 07:14 AM PDT (Reuters) - Wells Fargo & Co expects a decline in its net interest margin in the third quarter as low interest rates continue to squeeze the money it makes from loans, Chief Financial Officer Tim Sloan said on Tuesday. The decline could be similar to that of a year ago, when the bank's net interest margin fell from the previous quarter by 17 basis points, Sloan said at an investor conference. A basis point is 1/100th of a percentage point. In the second quarter, Wells, the fourth largest U.S. bank, reported a net interest margin of 3.91 percent, unchanged from the previous quarter. ...

IRS awards $104 million to UBS tax case whistleblower Posted: 11 Sep 2012 08:41 AM PDT (Reuters) - U.S. tax authorities have awarded $104 million to a whistleblower in a major tax fraud case against Swiss bank UBS AG that widened a government crackdown on Americans avoiding taxes in Switzerland, the whistleblower's lawyers said on Tuesday. Bradley Birkenfeld, freed last month from prison, was not present at the news conference where his attorneys announced what may be the largest payout ever under an Internal Revenue Service whistleblower program recently criticized Congress. ...

July trade gap widens as exports to Europe slump Posted: 11 Sep 2012 06:39 AM PDT WASHINGTON (Reuters) - The U.S. trade deficit grew slightly in July, a small bit of negative news for the U.S. economy, as exports to Germany, France and other European nations shrank and imports from China soared to a new record. The monthly trade shortfall was $42 billion, compared to a downwardly revised estimate of $41.9 billion for June, as both overall imports and exports declined. But analysts surveyed before the report had expected a bigger trade deficit of around $44 billion. The ongoing debt crisis in Europe appeared to be taking a toll on demand, with U.S. ...

Legg Mason CEO Fetting stepping down; stock jumps Posted: 11 Sep 2012 08:30 AM PDT (Reuters) - Money manager Legg Mason Inc , struggling to boost its stock price and stem 19 straight quarters of net withdrawals from its funds, said Chief Executive Mark Fetting will step down effective October 1. Investors applauded the news, sending Legg Mason shares up 6.1 percent to $27.02 in late-morning trading. Fetting took over the Baltimore-based fund giant as the financial crisis was intensifying in early 2008, and tried to fix the company's troubles with deep job and debt cuts. ...

McDonald's August sales rebound as value makes comeback Posted: 11 Sep 2012 07:57 AM PDT (Reuters) - McDonald's Corp's monthly sales rebounded in August after the world's biggest hamburger chain used its low-cost menus to wrestle market share back from resurgent rivals like Burger King Worldwide Inc and Wendy's Co . McDonald's said on Tuesday that global sales at restaurants open at least 13 months had risen 3.7 percent, just missing the 3.9 percent gain that analysts polled by Consensus Metrix had expected. Results from the Asia/Pacific, Middle East and Africa region easily topped estimates, bolstered by strength in China and Australia. ...

Pain prescribed as Deutsche duo slice jobs, bonuses Posted: 11 Sep 2012 08:38 AM PDT FRANKFURT (Reuters) - Deutsche Bank is to axe more jobs, cut bonuses and sell assets to meet tougher capital rules, its new chief executives said on Tuesday as they pledged to end a risk-taking culture driven by short-term gain. Joint CEOs Anshu Jain and Juergen Fitschen told shareholders they will not ask them to put up new cash; instead they plan to put Germany's flagship international bank on a crash diet that will involve a 4-billion euro ($5 billion) restructuring charge and 45 billion euros in asset sales by March. Targeting 4. ...

Wal-Mart plans 3-5 more India wholesale stores this year Posted: 11 Sep 2012 06:55 AM PDT (Reuters) - An Indian wholesale joint venture between Wal-Mart Stores Inc and New Delhi-based Bharti Enterprises plans to add between three and five stores in India by the end of the year, a spokeswoman for the joint venture said. Wal-Mart operates 17 wholesale stores under the "Best Price" brand in partnership with Bharti Enterprises, a conglomerate whose holdings include Bharti Airtel Ltd , India's top mobile telecoms operator. ...

US stocks rise ahead of Fed meeting Posted: 11 Sep 2012 08:53 AM PDT Stocks are moving higher in midday trading. Investors are looking ahead to two events sure to move markets this week: a Federal Reserve meeting and a court decision on whether Germany can help support its struggling neighbors.

Premiums for family health plans hit $15,745 Posted: 11 Sep 2012 08:22 AM PDT It sounds like good news: Annual premiums for job-based family health plans went up only 4 percent this year.

Morgan Stanley to buy Citi's Smith Barney stake Posted: 11 Sep 2012 08:07 AM PDT Morgan Stanley and Citigroup settled a dispute Tuesday over the value of the brokerage firm Morgan Stanley Smith Barney, which they jointly own.

Moody's set to downgrade US without budget deal Posted: 11 Sep 2012 08:33 AM PDT The U.S. government's debt rating could be heading for the "fiscal cliff" along with the federal budget.

Last days of summer push up gasoline prices Posted: 11 Sep 2012 08:33 AM PDT The price of gasoline is seeing the biggest gain in two weeks Tuesday. But relief should be in sight by the time autumn arrives.

Legg Mason CEO to step down, temporary CEO named Posted: 11 Sep 2012 08:16 AM PDT Legg Mason's chairman and CEO Mark Fetting, who led the money manager through the difficult years during and after the financial crisis, will step down Oct. 1.

Nielsen shows how people use TV differently Posted: 11 Sep 2012 07:13 AM PDT The number of U.S. homes that don't get traditional television service continues to increase, but that doesn't mean they don't have TVs.

Retail group says it opposes card fee settlement Posted: 11 Sep 2012 07:19 AM PDT The National Retail Federation is opposing a proposed $7.25 billion settlement that Visa Inc., MasterCard Inc. and major banks have agreed to pay retailers for alleged fee fixing.

McDonald's sales bounce back on value deals Posted: 11 Sep 2012 08:24 AM PDT McDonald's said a key sales figure climbed 3.7 percent in August, as the fast-food chain emphasized the value of its menu offerings amid the challenging global economy.

Boehner expresses no confidence on budget deal Posted: 11 Sep 2012 08:45 AM PDT House Speaker John Boehner said Tuesday that he's not confident Congress can reach a budget deal and avoid a downgrading of the U.S. debt rating.

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