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Thursday, June 7, 2012

Business Today: Futures jump after China's surprise rate cut

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06/7/2012
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Futures jump after China's surprise rate cut
NEW YORK (Reuters) - U.S. stocks looked set to rally on Thursday after the Chinese central bank cut bank lending and deposit rates, fueling hopes of coordinated action to aid a flagging global economy.
Jobless claims fall, labor market still on mend
WASHINGTON (Reuters) - The number of Americans lining up for new jobless benefits fell last week for the first time since April, a reminder that the wounded labor market is still slowly healing.
Exclusive: Chesapeake documents detail how CEO fuses personal, corporate interests
OKLAHOMA CITY (Reuters) - Aubrey K. McClendon, the chief executive officer of Chesapeake Energy Corp, has intertwined his personal and financial interests with those of the publicly traded company he runs to a far greater degree than shareholders may realize, according to interviews, public records and hundreds of internal Chesapeake documents reviewed by Reuters.
China makes surprise interest rate cut
BEIJING (Reuters) - China delivered twin surprises on interest rates on Thursday, cutting borrowing costs to combat faltering growth while giving banks additional flexibility to set competitive lending and deposit rates in step along the path of liberalization.
LinkedIn, eHarmony suffer data breaches
BOSTON/NEW YORK (Reuters) - Social networking site LinkedIn and online dating service eHarmony warned that some user passwords had been breached after security experts discovered scrambled files with passwords for millions of online accounts.
JPMorgan media banker moves to private equity role
LONDON (Reuters) - JPMorgan's top media sector banker Harry Hampson, who worked on the sale last year of Elisabeth Murdoch's Shine Group to News Corp , is to become head of the bank's Financial Sponsors Group which advises private equity firms, for Europe, the Middle East and Africa, according to a memo seen by Reuters.
Bear Stearns $275 million settlement reached
(Reuters) - A $275 million settlement has been reached in a nationwide shareholder lawsuit stemming from the near-collapse of the former Wall Street investment bank Bear Stearns Cos, court papers show.
Spain passes market test, Merkel douses summit hopes
MADRID/LONDON (Reuters) - Spain weathered funding pressures in European credit markets on Thursday and managed to raise money at an affordable if rising cost, while behind-the-scenes planning for a likely rescue of its debt-stricken banks intensified.
Deal or no deal, Morgan Stanley commodity trade shrinks
NEW YORK (Reuters) - The hard core of Morgan Stanley's commodities trading empire, once the mightiest on Wall Street famed for its powerful union of paper and physical deals, is shrinking.
Gazprom to advance Ukraine $2 billion for gas transit
MOSCOW (Reuters) - Russia's gas exporting monopoly Gazprom said on Thursday it had agreed to pay $2 billion in advance to Ukraine in order to finance purchases of gas and secure its transit to Europe.
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