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Thursday, March 28, 2013

Business Today: Stock futures briefly trim gains after data

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03/28/2013
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Stock futures briefly trim gains after data
NEW YORK (Reuters) - Stock index futures briefly trimmed gains after data showed initial jobless claims rose more than expected last week and the economy expanded at a sluggish pace in the fourth quarter.
Economy posts sluggish growth in fourth quarter
WASHINGTON (Reuters) - The economy expanded at a sluggish pace in the fourth quarter although a big gain in business investment and higher exports of services led the government to push up its previous estimate for growth.
Jobless claims rise, labor market still healing
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose more than expected last week, but probably not enough to suggest the labor market recovery was taking a step back.
Patient Cypriots queue as banks reopen
NICOSIA (Reuters) - Cypriots queued calmly at banks as they reopened on Thursday under tight controls imposed on transactions to prevent a run on deposits after the government was forced to accept a stringent EU rescue package to avert bankruptcy.
BlackBerry posts surprise profit, but subscriber base down
TORONTO (Reuters) - BlackBerry reported a surprise quarterly profit on Thursday, but its subscriber base fell slightly more than expected, and revenue remained far below year-earlier levels.
Analysis: Austerity threatens EU's competitive edge in infrastructure
BERLIN (Reuters) - Europe's carefully maintained autobahns, high-speed TGV trains and vast network of modern airports have long been the envy of the world.
Small businesses spell big problems for Italy and Spain
MILAN/MADRID (Reuters) - Small companies struggling to repay loans in Italy and Spain signal bigger problems on the horizon for the euro zone after the dust has settled on Cyprus's last-ditch bailout this week.
Nokia fined by Indian tax officials, court issues stay
HELSINKI (Reuters) - Nokia said on Thursday that Indian tax officials had issued the Finnish mobile phone maker with a fine although the Delhi High Court issued a stay on the demand.
Panasonic plans $2.7 billion of fresh restructuring
TOKYO (Reuters) - Japan's Panasonic Corp said it will spend 250 billion yen ($2.7 billion) over the next two years on a fresh round of restructuring to revive the sprawling electronics giant, but did not indicate if that spending would cover any possible job cuts.
BP to go ahead with $500 million Shetlands investment
LONDON (Reuters) - British oil group BP is pressing ahead with a $500 million-plus investment in the Shetland Islands, a shot in the arm for the government's efforts to revive the North Sea oil industry to help kickstart a flagging economy.
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