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Friday, August 3, 2012

Business Today: Stock futures add to gains after payroll report

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08/3/2012
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Stock futures add to gains after payroll report
NEW YORK (Reuters) - Stocks index futures added to gains on Friday following the July nonfarm payroll report, which was stronger than expected.
Jobs increase in July, but jobless rate rises to 8.3 percent
WASHINGTON (Reuters) - Employers in July hired the most workers in five months, but an increase in the jobless rate to 8.3 percent will probably keep expectations of additional monetary stimulus from the Federal Reserve intact.
Procter & Gamble profit tops forecast, plans buybacks
(Reuters) - Procter & Gamble Co posted a higher-than-expected quarterly profit despite a drop in sales, just weeks after the world's largest household products maker took the blame for its disappointing performance and said it was focusing on ways to improve.
No escape from slump for Europe's top economies in July
LONDON (Reuters) - Europe's biggest economies endured another torrid month in July as businesses battled slumping demand, according to surveys on Friday that gave scant hope the region will emerge any time soon from a malaise induced by a paralyzing debt crisis.
RBS confirms it sacked staff over Libor rigging scandal
LONDON (Reuters) - State-controlled Royal Bank of Scotland said on Friday it has dismissed employees over an interest rate rigging scandal, but gave no indication of whether it would reach a settlement soon with investigating authorities.
Knight trading loss shows cracks in equity markets
(Reuters) - The software glitch that cost Knight Capital Group $440 million in just 45 minutes reveals the deep fault lines in stock markets that are increasingly dominated by sophisticated high-speed trading systems. But Wall Street firms and regulators have few easy solutions for such problems.
Swiss seek U.S. tax deal by year-end, but not at any price: paper
ZURICH (Reuters) - The Swiss government still wants to settle a long-simmering dispute with U.S. justice officials over undeclared funds stowed in Swiss offshore funds by year-end, though not "at any price," Switzerland's chief diplomat said on Friday.
JPMorgan's "London Whale" was prodded to boost valuations: WSJ
(Reuters) - JPMorgan Chase concluded that a trader nicknamed "London whale" was urged by his boss to put higher values on some positions than they might have fetched in the open market at the time, the Wall Street Journal said, citing people familiar with the probe.
Maersk CEO sees better outlook for container shipping arm
COPENHAGEN (Reuters) - The head of Danish shipping and oil group A.P. Moller-Maersk said the performance of its container shipping arm had been disappointing but the group's strategy was paying off and the business should be better positioned a year from now.
Jobs seen weak in July, may help push Fed to act
WASHINGTON (Reuters) - U.S. employment probably only inched up in July as the economy struggled to regain momentum, strengthening expectations of additional monetary stimulus from the Federal Reserve.
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