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Wednesday, July 9, 2014

Business Today: Futures edge slightly higher, but Alcoa up early

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07/9/2014
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Futures edge slightly higher, but Alcoa up early
NEW YORK (Reuters) - U.S. stock index futures pointed to very slight gains at the open on Wednesday, suggesting that even a positive early read on earnings was not enough to excite buyers after a sharp decline from record levels.
Citigroup may pay $7 billion to resolve U.S. mortgage probes: source
NEW YORK/WASHINGTON (Reuters) - Citigroup Inc is close to paying about $7 billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis, a source familiar with the matter said on Tuesday.
Emirates finalises $56 billion order for 150 Boeing 777X planes
(Reuters) - Dubai airline Emirates [EMIRA.UL] finalised a $56 billion order to buy 150 Boeing 777X jets on Wednesday, firming up a commitment made last year, just weeks after scrapping an order with rival planemaker Airbus .
American Airlines boosts outlook for key revenue measure
(Reuters) - American Airlines Group raised its growth forecast on Wednesday for an important revenue measure for the second quarter, which is typically a strong period for carriers.
Mortgage applications rose in latest week: MBA
NEW YORK, July 9 (Reuters) - Applications for U.S. home mortgages rose last week as both purchase and refinancing applications increased, an industry group said on Wednesday.
Apple loses China patent case, separate suit against Apple continues
BEIJING (Reuters) - A Beijing court has ruled against Apple Inc by upholding the validity of a patent held by a Chinese company, clearing the way for the Chinese company to continue its own case against Apple for infringing intellectual property rights.
Shale boom confounds forecasts as U.S. set to pass Russia, Saudi Arabia
NEW YORK (Reuters) - Four years into the shale revolution, the U.S. is on track to pass Russia and Saudi Arabia as the world's largest producer of crude oil, most analysts agree. When that happens and by how much, though, has produced disparate estimates that depend on uncertain factors ranging from progress in drilling technology to the availability of financing and the price of oil itself.
Delphi CEO to be on U.S. Senate panel hot seat in GM probe
WASHINGTON (Reuters) - The head of Delphi Automotive Plc, maker of ignition switches linked to at least 16 fatal car crashes, is expected to face intensive questioning next week from a U.S. Senate panel investigating General Motors Co' handling of the issue.
Scoping the new subprime as watchdogs cry 'bubble'
LONDON (Reuters) - As global watchdogs warn that euphoric financial markets are divorced from economic reality and acting out some reprise of the credit bubble and bust of the past decade, fears of another subprime timebomb are inevitable.
BOJ may slightly cut economic forecast, policy seen steady
TOKYO (Reuters) - The Bank of Japan may trim its economic growth forecast for the current year next week, sources familiar with its thinking said, reflecting soft exports and a bigger-than-expected slump in household spending after a sales tax hike in April.
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