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Tuesday, April 30, 2013

Business Today: Stock futures little changed as Wall Street set to pause after rally

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04/30/2013
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 little changed as Wall Street set to pause after rally
NEW YORK (Reuters) - Stock futures were little changed on Tuesday as investors awaited a batch of economic data for a confirmation that the recent rally that has taken the S&P 500 to an another record close is solid.
Labor costs rise modestly, but error could distort data
WASHINGTON (Reuters) - Labor costs rose less than expected in the first quarter and pointed to benign wage inflation, a potential sign the Federal Reserve has space to continue its monetary stimulus program.
Paul Allen gaining respect with sports, real estate moves
SEATTLE (Reuters) - Paul Allen, the lesser known co-founder of Microsoft Corp, has struggled for decades to make his mark as a business mogul beyond the software company he started with Bill Gates.
Pfizer results fall short; company trims profit forecast
(Reuters) - Pfizer Inc reported lower-than-expected quarterly earnings and revenue, and the largest U.S. drugmaker trimmed its full-year profit outlook, sending its shares down 3 percent.
SoftBank digs in on Sprint bid, rules out sweeteners
TOKYO (Reuters) - SoftBank Corp President Masayoshi Son came out swinging on Tuesday against a counteroffer for Sprint Nextel Corp, saying rival bidder Dish Network Corp was ill-prepared to run the wireless carrier and refusing to raise his own $20.1 billion bid.
GE settles crisis-era shareholder lawsuit for $40 million
(Reuters) - General Electric Co agreed to pay $40 million to settle a shareholder lawsuit accusing the company of misleading investors about its health during the 2008 financial crisis, court papers show.
Office Depot results disappoint; plans special meeting
(Reuters) - Office Depot Inc reported a weaker-than-expected quarterly profit on Tuesday and said it would hold a special meeting with investors to seek approval for its pending merger with rival OfficeMax Inc .
Best Buy exits Europe with Carphone sale
NEW YORK/LONDON (Reuters) - U.S. retailer Best Buy Co Inc retreated from its ill-fated European expansion on Tuesday by selling its stake in a joint venture to Carphone Warehouse Group for less than half what it paid five years ago.
Thomson Reuters profit falls on severance costs
(Reuters) - Thomson Reuters Corp reported a 7 percent decline in first-quarter operating profit because of severance costs and a decrease in revenue at its Financial & Risk division, which caters to banking clients.
BP hit by wave of new spill lawsuits ahead of April deadline
LONDON (Reuters) - BP Plc has been hit by over 2,200 new lawsuits seeking payback for the 2010 Gulf of Mexico oil spill in the past few weeks as individuals, companies and government bodies rushed to stake their claim before their right to do so expired.
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