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Thursday, September 6, 2012

Business Today: Stock futures jump then pull back on Draghi comments

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09/6/2012
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 jump then pull back on Draghi comments
NEW YORK (Reuters) - Stock futures briefly jumped higher before pulling back to prior levels after comments from European Central Bank President Mario Draghi on the state of the euro zone economy.
Jobless claims fall to lowest level in a month
WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits fell last week to its lowest level in a month, an upbeat signal for a labor market that has struggled to create enough jobs.
ECB agrees new bond-buying plan: Draghi
FRANKFURT (Reuters) - The European Central Bank agreed a new bond-buying program on Thursday to lower struggling euro zone countries' borrowing costs which would serve as a "fully effective backstop", ECB President Mario Draghi said on Thursday.
August private sector job growth beats expectations: ADP
NEW YORK (Reuters) - Private employers added a better than expected 201,000 jobs in August, a report by a payrolls processor showed on Thursday, a rare dash of good news for the country's struggling labor market.
ECB holds rates as inflation eclipses growth risks
FRANKFURT (Reuters) - The European Central Bank held its main interest rate at a record low of 0.75 percent on Thursday, holding fire after a pick-up in inflation last month offset pressure to breathe life into the flagging euro zone economy by easing borrowing costs.
AIG launches AIA share sale to fund $5 billion buyback
By Elzio Barreto and Fiona Lau HONG KONG (Reuters) - American International Group Inc launched a widely-expected sale of a stake in its former Asian unit AIA, a move aimed at providing the bailed-out insurer with partial funding to repurchase up to $5 billion of its stock from the U.S. government.
U.S. planned layoffs drop in August: Challenger
NEW YORK (Reuters) - The number of planned layoffs at U.S. companies dropped for a third straight month in August and hit a 20-month low, a report showed on Thursday.
Bank of England leaves policy on hold as economy steadies
LONDON (Reuters) - The Bank of England stuck to its current policy of government bond purchases on Thursday, as Britain is creeping out of recession and hopes are running high for a sweeping move by the European Central Bank to ease the euro zone crisis.
German industry orders rise, outlook still gloomy
BERLIN (Reuters) - Stronger domestic demand helped German industrial orders edge up in July and an engineering trade body raised its forecast for full-year output growth but warned the euro crisis would hurt more in the second half of 2012.
Draghi to deliver bond plan after ECB holds rates
FRANKFURT (Reuters) - European Central Bank chief Mario Draghi faces the most decisive moment of his presidency on Thursday when he aims to back up his vow to save the euro with a bond-buying plan - the main focus of a policy meeting where it kept interest rates on hold.
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