Oct 26 - Economic growth picked up in the third quarter as a late burst in consumer spending offset the first cutbacks in investment in more than a year by cautious businesses.
Ahead the results from the US economy and it's financial flight attendant did it. I don't have finished. Later in the show. Well for the three times this Friday from Reuters world headquarters in New York. -- -- -- -- 2%. Growth of the US economy in the third quarter according to the advance report. Something for presidential candidates to focus on to make their cases. For President Obama the number was expected reflecting gains housing market. For governor Romney business investments slipped and government spending from defense contributed to overall boost. That's spending set to drop as a result item cuts to address the fiscal issues so big Romney has lobbied against. On the corporate front apparent tech titans not doing much to count of the weakening third quarter profit picture. Apple missing profit forecast in its fiscal fourth quarter due in part to disappointing sales of the iPad. It also warned its profit -- will take it in the next quarter. Amazon meanwhile posting a much wider loss than anticipated. That sales climbed 27%. Checking shares right now. Apple down just under percent and it Amazon. Just over 2%. Dow component Merck faring better its profit beat expectations partly due to a favorable tax rate. Sales of asthma drugs scene and those -- at cheaper generics came on the market. Shares closed at 4630 yesterday and are now at 4586. Our power player of the day spinning gold for corporate America and the global economy to do its job -- head of the International Olympic Committee. -- -- after Britain showed its strongest quarterly GDP growth in five years thanks in part to robust Olympics spending. Cast now saying I think you missed you wrong. It posted higher quarterly profit after its NBC universal media unit scored one point two billion dollars in additional revenue. From the London Olympics coverage. One network that -- using ratings boost current TV putting itself up for sale according to -- -- -- opposed. Launched in 2005 by former vice president Al Gore. -- -- to find its footing -- work from the user generated site to the plate last dumped prickly anchor Keith Olbermann. CEO Joel -- told the post the networks had three increase this year regarding a possible sale. And our nightly options current is currently home to shows joy they are saying anything and viewpoint with Eliot Spitzer. And finally. You like to -- most in the financial world. Bankers in Hong Kong suited up for the sixth annual iron monger hedge fund might night. It was American Anthony tango and executive director at Nomura Holdings who want heavyweight title. Duking it out against Craig varnish and managing director at BH partners. Proceeds from the fight we're not pocketed but rather went to two children's charities. Actually it's -- three times where this Friday you can follow us on Twitter at latest insider and -- definitely. At Reuters dot com slash Reuters TV. I'm Lisa Bernhard did it play.