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Friday, October 19, 2012

Business Today: Stock futures drop as earnings disappoint

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10/19/2012
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 drop as earnings disappoint
NEW YORK (Reuters) - Stock index futures dipped on Friday in the wake of disappointing results from Microsoft and Google a day earlier, and after General Electric reported improved profit but fell short of revenue estimates.
GE profit meets estimates, revenue falls short
(Reuters) - General Electric Co notched an 8.3 percent rise in quarterly earnings, but its shares slipped 2 percent in premarket trading as revenue fell shy of analysts' expectations.
Europe pushes ahead towards ECB bank supervision
BRUSSELS (Reuters) - European Union leaders agreed on Friday a single supervisor will take responsibility for overseeing euro zone banks from next year.
McDonald's lower quarterly profit misses estimate
(Reuters) - McDonald's Corp missed Wall Street's expectations for the second quarter in a row and said October sales at existing restaurants have fallen as the economy and competitive pressures hit the world's biggest fast-food chain.
Airbus to double U.S. spending by 2020
LOS ANGELES (Reuters) - Airbus, which last year paid $12 billion to U.S. suppliers of the parts and services it needs to build its planes, will double that spending by 2020 as it gears up to build a new plant in Mobile, Alabama.
Barclays cuts Microsoft price target, others await Windows 8 launch
(Reuters) - Barclays Capital cut its price target on Microsoft Inc's stock after the world's largest software company reported a greater-than-expected dip in its quarterly profit.
Honeywell's profit rises 10 percent, tops Wall Street view
(Reuters) - Diversified U.S. manufacturer Honeywell International Inc reported a 10 percent rise in quarterly earnings as declining natural gas prices helped boost profits at its UOP chemical arm, offsetting weakness in Europe.
BP board considers Rosneft bid for TNK-BP
LONDON/MOSCOW (Reuters) - Rosneft is poised to secure a tighter grip on Russia's oil industry by buying BP's 50 percent stake in TNK-BP , the country's third largest producing company.
Petrobras to cut up to 15 billion reais in 2013: report
RIO DE JANEIRO (Reuters) - Brazil state-led oil company Petrobras plans to cut between 5 billion reais ($2.5 billion) and 15 billion reais ($7.43 billion) from its operational costs in 2013, Brazilian newspaper O Globo reported on Friday.
Hong Kong tycoon Richard Li returns to insurance with $2.1 billion ING deal
HONG KONG (Reuters) - Hong Kong businessman Richard Li, the younger son of Asia's richest man, is buying ING's Hong Kong, Macau and Thailand insurance units for $2.14 billion in cash, bringing the Dutch financial services company a step closer to paying off its state bailout.
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