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Thursday, August 2, 2012

Business Today: Stock futures turn negative in abrupt shift

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08/2/2012
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Stock futures turn negative in abrupt shift
NEW YORK (Reuters) - Stock index futures turned sharply negative on Thursday, quickly erasing a short-lived bounce that followed comments from Mario Draghi, the president of the European Central Bank.
Weekly jobless claims rise less than expected
WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits rose less than expected last week, but the data continues to be influenced by distortions from seasonal auto shutdowns.
ECB drawing up plans for bond purchases: Draghi
FRANKFURT (Reuters) - The European Central Bank will draw up a mechanism in the coming weeks to make outright purchases to stabilize stressed euro zone borrowing costs, ECB President Mario Draghi said on Thursday.
Knight seeks financing after $440 million trading loss
NEW YORK (Reuters) - Trading firm Knight Capital is being forced to raise money after an erroneous trading position wiped out $440 million of the firm's capital, Knight said in a statement on Thursday.
BoE leaves policy on hold as British economy worsens
LONDON (Reuters) - The Bank of England left its monetary policy unchanged on Thursday, judging that its July decision to expand purchases of government bonds is enough stimulus for now despite the danger of a prolonged slump.
GM posts stronger than expected second-quarter profit
(Reuters) - General Motors Co on Thursday posted a smaller-than-expected loss in Europe that helped the No. 1 U.S. automaker post a better-than-expected second-quarter profit.
IMF urges Russia to tighten fiscal and monetary policy
MOSCOW, July - Russia needs to adopt both a tougher budget and tighter monetary policy to guard against the risk of overheating and to bear down on inflation, the International Monetary Fund said in a statement on Thursday.
China cuts fees, urges share buybacks to revive ailing market
SHANGHAI (Reuters) - China's securities regulator stepped up efforts to restore confidence in the country's sagging equities markets on Thursday, making another round of cuts to transaction fees and encouraging companies to buy back their own stock.
U.S. raises pressure for euro zone crisis action
FRANKFURT/BERLIN (Reuters) - The United States raised the pressure on euro zone leaders to take decisive action on solving the region's debt crisis, notably by lowering troubled members' borrowing costs, on the eve of a crucial European Central Bank meeting.
Japan watchdog to announce Nomura sanction Friday
TOKYO (Reuters) - Japan's financial regulator will order Nomura Holdings on Friday to bolster internal controls, sources with knowledge of the matter said, marking the lightest penalty possible in the wake of an insider trading scandal involving the brokerage.
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