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Friday, June 21, 2013

Business Today: Stock futures rise after two-day selloff

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06/21/2013
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Stock futures rise after two-day selloff
NEW YORK (Reuters) - Stock futures rose on Friday as traders swooped up bargains following a two-day selloff that took S&P 500 futures to their lowest in seven weeks.
China central bank holds line on shadow banking as rates spike
SHANGHAI/BEIJING (Reuters) - China's central bank faced down the country's cash-hungry banks on Friday, letting interest rates again spike to extraordinary levels as it increases the pressure on the banks to rein in rampant informal lending and speculative trading.
Bernanke bond announcement was poorly timed: Fed's Bullard
WASHINGTON (Reuters) - St. Louis Federal Reserve Bank President James Bullard worried that the Fed's decision earlier this week to announce a plan to reduce bond buying was poorly timed, the regional Fed bank said in a statement on Friday explaining his dissent.
Rosneft to boost oil flows to China in $270 billion deal
ST PETERSBURG (Reuters) - Russia's Rosneft agreed to double oil supplies to China, in a deal it valued at $270 billion on Friday, as the Kremlin energy champion shifts its focus to Asia from saturated and crisis-hit European markets.
Lockheed aims to conquer markets outside U.S.
PARIS (Reuters) - Lockheed Martin Corp , already the biggest U.S. weapons maker and largest provider of IT services to the U.S. government, wants to become a powerhouse in foreign markets such as the Middle East and India, a top executive said.
BP wants inquiry into alleged payments to oil spill lawyer
LONDON (Reuters) - Oil company BP called on Friday for an inquiry into an allegation a lawyer working for the administrator of compensation payments for the Gulf of Mexico oil spill referred claims to a New Orleans law firm in exchange for a share of subsequent settlement payments.
Analysis: As boomers age, Harley hunts for younger riders
CHICAGO (Reuters) - Harley-Davidson Inc doesn't do much quietly. Its motorcycles are notoriously noisy. Its slogans - "Screw It. Let's Ride." - are loud too.
EU to decide who pays when banks fail
LUXEMBOURG (Reuters) - The European Union sought on Friday to forge rules to force losses on large savers when banks fail, a divisive reform that will shape how the euro zone deals with its sickly lenders.
Analysis: China cash squeeze exposes risks from short-term funding
SHANGHAI (Reuters) - The mirror that China's central bank is holding up in front of the country's banks is providing uncomfortable viewing. Too many banks are reliant on short-term funding markets to survive, and a shake up in the sector is needed.
Exclusive: FINRA beefs up policing of arbitrators
(Reuters) - Wall Street's industry-funded watchdog said it is beefing up oversight of its 6,500 securities arbitrators, after one of them was criminally indicted and suspended from the practice of law but failed to properly disclose those legal run-ins.
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