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Monday, September 29, 2014

Business Today: Oppenheimer sees near-term S&P weakness, would buy on dips

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Oppenheimer sees near-term S&P weakness, would buy on dips
NEW YORK (Reuters) - U.S. stock index futures are pointing to a solidly lower open on Monday, but if recent trends hold, investors may use the decline as an opportunity to add to positions.
U.S. consumer spending accelerates in August
WASHINGTON (Reuters) - Rising incomes helped American consumers spend more in August, a positive sign for the U.S. economy which appears to be shifting into a higher gear.
Macy's to hire 86,000 workers for holiday season
(Reuters) - Department store operator Macy's Inc said it planned to hire about 86,000 workers for the holiday shopping season, up from about 83,000 last year.
EU watchdog to give reasons for inquiry into Apple's Irish tax savings
BRUSSELS (Reuters) - The European Commission will publish on Tuesday its reasons for opening an in-depth inquiry into the Irish government's tax treatment of Apple , a Commission spokesman said.
Lenovo says $2.1 billion IBM x86 server deal to close on Wednesday
BEIJING (Reuters) - Lenovo Group Ltd will close its acquisition of International Business Machines Corp's (IBM) x86 server division on Oct 1 for $2.1 billion, giving the Chinese tech firm the firepower to win business clients from U.S. rivals.
Pimco moving away from Bill Gross model, CEO says
(Reuters) - Pimco is moving away from a founder-led model and the $2 trillion asset manager's flagship fund, formerly run by co-founder Bill Gross "does not define Pimco," CEO Doug Hodge said on Sunday.
Allianz says no plans to ramp up Pimco controls despite turmoil
FRANKFURT (Reuters) - German insurer Allianz says it has no plans to increase oversight of its California-based investment unit Pimco after the shock departure of co-founder Bill Gross sent shares in the Munich-based parent tumbling at the end of last week.
Swiss bank UBS warns of penalties as forex settlement talks begin
ZURICH (Reuters) - Switzerland's largest bank UBS warned it faced new fines after confirming it was holding talks to settle allegations it was involved in rigging foreign exchange rates.
Six years after AIG bailout, trial asks: was it legal?
WASHINGTON (Reuters) - One of the more unusual trials to come out of the 2008 financial crisis is set to begin on Monday, when a federal judge will consider whether the U.S. government's rescue of American International Group Inc was, in fact, legal.
Japan's SoftBank in talks to buy DreamWorks: source
TOKYO/NEW YORK (Reuters) - Japan's SoftBank Corp is in talks to acquire DreamWorks Animation SKG , the Hollywood studio behind the "Shrek" and "Madagascar" movie hits, a person with knowledge of the situation said.
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