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Friday, October 31, 2014

Business Today: Futures rally after BOJ ramps up stimulus

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Futures rally after BOJ ramps up stimulus
NEW YORK (Reuters) - U.S. stock index futures rallied on Friday alongside most markets globally after the Bank of Japan significantly ramped up its stimulus program just days after the U.S. Federal Reserve wound down its own package of economic incentives.
U.S. third-quarter wage gains largest since 2008
WASHINGTON, Oct 31 (Reuters) - - U.S. labor costs rose more than expected in the third quarter as wages recorded their largest gain since 2008, a sign that a long-awaited pick-up in wage growth was underway.
Exxon third-quarter profit rises 3 percent on refining
(Reuters) - Exxon Mobil Corp , the world's largest publicly traded oil company, on Friday reported a better-than-expected 3 percent increase in quarterly profit on higher results in its refining and chemicals businesses.
Chevron quarterly profit jumps 13 percent
(Reuters) - Chevron Corp said on Friday its quarterly profit rose 13 percent as lower crude oil prices boosted its refinery operations, helping to offset sagging results in its oil and gas production.
U.S. consumer spending weakest in eight months, savings jump
WASHINGTON, (Reuters) - U.S. consumer spending fell in September for the first time in eight months, suggesting the economy lost some momentum heading into the fourth quarter.
Wal-Mart to expand discounts as retail price war heats up
(Reuters) - Wal-Mart Stores Inc said it will expand its offering of discounted products during the holiday season and may broaden a price-matching scheme to include online rivals, in the latest sign of an escalating price war among big U.S. retailers.
Argentina default spreads to Par bonds, raising acceleration risk
BUENOS AIRES/NEW YORK (Reuters) - Argentina's debt default spread to its Par bonds on Friday after the country failed to complete an interest payment, raising the risk that creditors could demand that its cash-strapped government immediately repay all of its debt.
Japan's central bank shocks markets with more easing as inflation slows
TOKYO (Reuters) - The Bank of Japan shocked global financial markets on Friday by expanding its massive stimulus spending in a stark admission that economic growth and inflation have not picked up as much as expected after a sales tax hike in April.
Italy says private capital will meet Monte Paschi, Carige needs
ROME (Reuters) - Banca Monte dei Paschi di Siena and Carige will make up the capital shortfalls revealed in the ECB stress tests through private sector financing, Italian Economy Minister Pier Carlo Padoan said on Friday.
Trial of former UBS executive dredges up Swiss banks' shady past
By Francisco Alvarado, Zachary Fagenson and Joshua Franklin
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