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Friday, July 12, 2013

Business Today: Producer prices rise, could signal stronger economy

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07/12/2013
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
Producer prices rise, could signal stronger economy
WASHINGTON (Reuters) - Producer prices rose more than expected in June, pointing to an apparent increase in inflationary pressures that could make the U.S. Federal Reserve more comfortable about reducing its monetary stimulus.
S&P 500 futures turn slightly lower
NEW YORK (Reuters) - S&P 500 stock index futures turned slightly lower Friday after United Parcel Service said it was trimming its full-year outlook.
Analysis: Fed mulls adjusting its tune to quell jittery markets
(Reuters) - Federal Reserve officials are considering moving the goal posts on U.S. monetary policy with a promise to keep interest rates low for longer in the hopes of heading off a troubling rise in market-set borrowing costs.
Wells Fargo profit rises 20 percent, sets aside less for bad loans
(Reuters) - Wells Fargo & Co , the biggest U.S. mortgage lender, reported a higher-than-expected 20 percent rise in quarterly profit on Friday as it set aside less money to cover bad loans.
JPMorgan reports 31 percent rise in profit as trading rebounds
(Reuters) - JPMorgan Chase & Co reported a 31 percent rise in quarterly profit on Friday as trading revenue rebounded and the biggest U.S. bank by assets set aside less money to cover bad loans.
UPS expects second-quarter profit below estimates
(Reuters) - United Parcel Service Inc , the world's No.1 package delivery company, estimated second-quarter profit below analysts' expectations, hurt by overcapacity in the global air freight market and a slowing U.S. industrial economy.
Tsinghua Holdings to buy chipmaker Spreadtrum for $1.78 billion
(Reuters) - Chinese cellphone chip designer Spreadtrum Communications Inc will be acquired by a unit of government-owned Tsinghua Holdings Co Ltd for a raised offer price of about $1.78 billion.
Schneider offer fuels talk of $5 billion Invensys bid battle
LONDON/PARIS (Reuters) - Hopes of a bid battle powered Invensys shares to a ten-year high on Friday, after the British engineer said it had received a 3.3 billion pound ($5 billion) takeover proposal from France's Schneider Electric .
Portugal's PM says committed to reaching cross-party deal
LISBON (Reuters) - Portuguese Prime Minister Pedro Passos Coelho said on Friday he is ready to overcome differences with his coalition partner and the opposition Socialists to resolve a political crisis as requested by the country's president.
For Icahn, $10.7 million profit from Dell is not enough
(Reuters) - Michael Dell and private equity firm Silver Lake are looking increasingly likely to get shareholder approval to take Dell Inc private in a $24.4 billion deal. But agitator Carl Icahn still sees room to gamble.
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Producer prices rise, could signal stronger economy
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