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Tuesday, June 26, 2012

Business Today: Futures edge up after sell-off; Spain eyed

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06/26/2012
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
Futures edge up after sell-off; Spain eyed
NEW YORK (Reuters) - Stock futures rose on Tuesday, indicating the S&P 500 may rebound from sharp losses in the prior session, but gains were muted after a Spanish bill auction met with falling demand.
Euro zone Big Four confer after fifth state seeks aid
PARIS/BRUSSELS (Reuters) - Finance chiefs of the euro zone's four biggest economies will hold last-minute talks in Paris on Tuesday evening to try to narrow differences on the currency area's future after Cyprus became the fifth country to request a bailout.
Goldman adds JPMorgan to conviction buy list
(Reuters) - Goldman Sachs added JPMorgan Chase & Co to its America's conviction buy list, saying the U.S. bank's capital position and earnings power can offset its recent hedging loss of at least $2 billion.
Bank bailout to spark firesale of corporate Spain
MADRID (Reuters) - The European bailout for Spain's banks will push them to sell an empire of stakes in the nation's top companies, ending a cozy culture of corporate-banking links and prompting a wider shake-up in ownership of the company landscape.
Coke to boost India investment by $3 billion
NEW DELHI (Reuters) - Coca-Cola Co announced a further $3 billion in investment in India over the next eight years on Tuesday as the world's biggest soft drinks maker seeks to expand in a country where its flagship brand trails rival Pepsi.
News Corp considering splitting into two: WSJ
(Reuters) - Rupert Murdoch's News Corp is considering splitting into two to separate its publishing assets from its more lucrative entertainment business, the Wall Street Journal reported on Tuesday.
Euro market lockdown feeds bank dependence on ECB
FRANKFURT (Reuters) - Banks' demand for European Central Bank funding surged on Tuesday to 180 billion euros, well above expectations, more than four times the demand just a month ago and the latest evidence of a growing crisis-driven dependence on ECB funding.
SBA Communications to buy tower sites for $1.45 billion
(Reuters) - Wireless tower operator SBA Communications Corp will buy 3,252 mobile phone tower sites in the United States and Puerto Rico from privately held TowerCo for about $1.45 billion to benefit from an explosion in data traffic.
Insight: Vodafone in new 1-billion-pound UK tax "scandal"
LONDON (Reuters) - The world's largest mobile phone company, Vodafone Group, has shaved 1 billion pounds, and possibly more, off the taxes its UK operating unit might have paid in the past decade, thanks to accounting factors not seen at other European units.
Insight: A land owner caught between energy giants
GAYLORD, Michigan (Reuters) - A Michigan land owner who alleges he was jilted by two of North America's largest energy companies says emails made public Monday by Reuters prove that the two companies colluded to kill deals that could have earned him more than $54 million.
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