Wall Street Roundup: Hedge funds win. Studies slam bank tactic.

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Job and service-sector gains. The private sector saw 42,000 new jobs last month while the service sector grew faster in July than expected.

Hedge funds win. The New York Legislature ended a bid to tax hedge-fund workers who came into New York City after Connecticut’s governor campaigned for hedge funds to move there.

Trust in Wall Street is up. A survey shows that public trust in Wall Street is up from 2009 lows, but it is still only at 26%.

Studies slam bank tactic. Banks have argued that higher capital requirements, like those being considered by international regulators, would lead to less lending, but a group of studies suggests that is not the case.

-- Nathaniel Popper