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Wednesday, November 28, 2012

Business Today: Stock futures off as investors worry about "fiscal cliff"

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11/28/2012
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 off as investors worry about "fiscal cliff"
NEW YORK (Reuters) - Stock futures fell on Wednesday as investors grew more concerned about the lack of progress in U.S. budget talks to avoid looming spending cuts and tax hikes, setting the S&P 500 up for a third consecutive day of decline this week.
GE's service push could bring profit margin boost
(Reuters) - General Electric Co plans to unveil on Thursday a new push into service businesses, with a series of programs to help airlines, railroads and hospitals that use its heavy equipment operate more efficiently.
Spain's rescued banks to shrink, slash jobs
BRUSSELS/MADRID (Reuters) - Spain's four nationalized banks will more than halve their balance sheets in five years, slash jobs and impose hefty losses on bondholders, under plans approved by the European Commission on Wednesday.
ECB wants "executioner" to terminate Europe's weak banks
BRUSSELS/FRANKFURT (Reuters) - The European Central Bank has proposed that the EU's powerful antitrust chief be given a permanent role for shutting down weak banks that survive largely on central bank funding, officials familiar with the issue say.
EU set to make its mind up over trade talks with Japan
BRUSSELS/TOKYO (Reuters) - Britain is trying to convince France and Italy to agree to negotiations with Japan to create a free-trade area with the European Union despite concerns that a deal would hurt the continent's weaker carmakers.
Euro zone central banks may roll over their Greek bonds: document
BRUSSELS (Reuters) - Euro zone central banks may decide to roll over their holdings of Greek debt to reduce by 5.6 billion euros the amount governments will need to provide Athens by 2016, according to an document obtained by Reuters.
UAE buys into BP's UK fields as relations improve
ABU DHABI (Reuters) - Abu Dhabi National Energy Co (TAQA) will buy a number of BP's North Sea assets for over $1.3 billion in a sign relations between Britain and the Gulf emirate are on the mend.
Harrisburg, Pennsylvania may soon renew bankruptcy threat as ban ends
Harrisburg, Pennsylvania (Reuters) - Pennsylvania's capital city Harrisburg, neck-deep in more than $340 million debt, is on the verge of getting a powerful negotiating tool with creditors: the threat of bankruptcy.
China investment levels excessive, risks are rising: IMF research
BEIJING (Reuters) - China's economy relies on an excessively high level of investment and risks a potentially destabilizing increase if the government aims to keep growth around current levels for years to come, new International Monetary Fund research suggests.
U.S. for-profit colleges spend big on marketing while slashing other costs
(Reuters) - Google's biggest advertiser is neither a bank nor a retailer.
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