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Thursday, March 29, 2012

Business Today: Stock futures extend losses after GDP, jobless

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03/29/2012
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Stock futures extend losses after GDP, jobless
NEW YORK (Reuters) - Stock index futures extended losses on Thursday after data showed the domestic economy expanded as expected in the fourth quarter while initial jobless claims were slightly worse than expectations.
Jobless claims fall to 4-year low in latest week
WASHINGTON (Reuters) - New claims for unemployment benefits fell to a fresh four-year low last week, according to a government report that showed ongoing healing in the labor market.
Fourth-quarter GDP unrevised at 3.0 percent
WASHINGTON (Reuters) - The economy expanded as expected in the fourth quarter while personal income grew at a much faster pace than previously thought, which should help underpin spending this quarter.
Goldman board meets in India amid talk of splitting top jobs
MUMBAI (Reuters) - Half a world away from Wall Street, the board of directors of embattled Goldman Sachs Group Inc were meeting in India amid reports that senior executives have talked about splitting the roles of chief executive and chairman, both held now by Lloyd Blankfein.
Exclusive: Investors press U.S. shale oil drillers to control flaring
WASHINGTON (Reuters) - Investors representing $500 billion in assets are pushing energy companies in the shale oil rush in North Dakota and other states to disclose the amount of natural gas they burn - a practice they see as a wasteful financial risk.
Best Buy sales disappoint, to cut stores, jobs
(Reuters) - Best Buy Co Inc reported weaker-than-expected sales for the fourth quarter on Thursday, and said it has decided to close 50 big-box stores and to cut 400 jobs in corporate and support areas.
Analysis: To Canada and back again: a new U.S. oil pipeline race
HOUSTON (Reuters) - Even as big U.S. oil pipelines invest billions of dollars to ship booming oil production south from Canada and North Dakota, a new race is underway in the opposite direction.
Euro zone lagging behind in shaky G7 recovery: OECD
PARIS (Reuters) - Euro zone nations are falling far behind the United States and Canada as a fragile recovery takes root in advanced economies, the OECD said on Thursday, advising central banks to keep easy money flowing so the rebound does not prove short-lived.
Analysis: Spain's banks may need more public cash
MADRID (Reuters) - Spanish banks, already hurting from a property crash, are facing a new wave of loan defaults as the economy sinks into recession and the government may have to find more money or ask Europe for help in filling the funding gap.
Murdoch fights back against "lies and libels"
LONDON (Reuters) - An angry Rupert Murdoch on Thursday declared war against "enemies" who have accused his pay-TV operation of sabotaging its rivals, denouncing them as "toffs and right wingers" stuck in the last century.
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