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Tuesday, June 19, 2012

Business Today: Futures tick higher on central bank optimism

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06/19/2012
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Futures tick higher on central bank optimism
NEW YORK (Reuters) - Stock futures edged higher on Tuesday as investor hopes for central bank stimulus measures rose after tepid German economic data and ahead of a two-day policy meeting of the Federal Reserve.
Housing starts fall in May, permits up sharply
WASHINGTON (Reuters) - Housing starts fell in May although permits to build new homes rose to the highest in well over three years, sending mixed signals about the health of the housing market.
Spanish short-term debt costs reach alarm levels
MADRID/ATHENS (Reuters) - Spain paid a euro era record price to sell short-term debt on Tuesday, pushing it closer to becoming the biggest euro zone country to be shut out of credit markets.
Walgreen to buy 45 percent of Alliance Boots for $6.7 billion
(Reuters) - Walgreen Co said it would buy a 45 percent stake in KKR & Co-backed Alliance Boots for $6.7 billion in a cash and stock deal that would bring together the two largest pharmacy chains in the United States and Europe.
Julius Baer in talks over BofA non-U.S. wealth unit
ZURICH (Reuters) - Julius Baer is in talks with Bank of America about buying Merrill Lynch's non-U.S. wealth management unit, valued at up to $2 billion, in what would be a transformative deal for the acquisition-hungry Swiss private bank.
Europe vows closer union at G20 summit
LOS CABOS, Mexico (Reuters) - Under pressure from financial markets and anxious world leaders, Europe agreed on Monday to move towards a more integrated banking system to stem a debt crisis that threatens the survival of the euro.
French businesses fear "systematic strangling"
PARIS (Reuters) - France's new Socialist government risks smothering businesses under new taxes and regulation, the head of the employers association said on Tuesday as figures showed company morale plummeting to crisis levels.
Microsoft tackles iPad with Surface tablet
LOS ANGELES (Reuters) - Microsoft Corp introduced its own line of tablet computers on Monday at a much-hyped press event in Los Angeles, marking a major strategic shift for the software giant as it struggles to compete with Apple Inc and re-invent its aging Windows franchise.
RBS job losses hit 36,000 following latest cull
LONDON (Reuters) - State-backed lender Royal Bank of Scotland (RBS) is making more than 600 staff redundant as a result of legislation due to come into force at the end of the year, bringing total staff reductions at the bank since its 2008 bailout to around 36,000.
China may lean on RRR cuts in policy easing if slowdown persists
BEIJING (Reuters) - China's central bank could rely on cutting the amount of cash the banks must hold as reserves to bolster growth but reserve further interest rate cuts as the last-resort policy option, economists familiar with Beijing's policy-making process said.
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