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Friday, June 22, 2012

Business Today: Futures point to bounce after Thursday selloff

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06/22/2012
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 point to bounce after Thursday selloff
NEW YORK (Reuters) - Stock futures rose on Friday, indicating the benchmark S&P 500 index may rebound from its second-worst decline of the year.
Moody's tilts playing field towards safe haven banks
LONDON (Reuters) - Downgrades by ratings agency Moody's will make funding more expensive for banks that rely the most on capital markets, while reinforcing the competitive advantage of "safe haven" banks that can fund themselves from stable customer deposits.
"Pretty high hurdle" to QE3: Fed's Bullard
NEW YORK (Reuters) - Federal Reserve policymakers still see a "pretty high hurdle" before they would unleash a third round of quantitative easing, or QE3, a top Fed official said on Friday.
Analysis: ECB reluctant to follow suit after Fed twists again
FRANKFURT (Reuters) - Investors are clamoring for a "shock and awe" crisis response from the European Central Bank akin to the massive money printing in the United States and Britain, but the ECB seems far from following suit despite the euro zone's spreading turmoil.
Shell may replace Total in Shtokman: report
LONDON (Reuters) - Russia will change the composition of a consortium to develop the giant Shtokman gas field, bringing in oil major Royal Dutch Shell in place of France's Total and keeping Norway's Statoil , a report said on Friday.
Whole EU backs bank oversight role for ECB: Welt
BERLIN (Reuters) - All 27 countries in the European Union will support giving the European Central Bank a bigger supervisory role for the bloc's banking system at next week's summit, German newspaper Die Welt reported on Friday, citing EU diplomats.
Euro's big four seek way out of crisis in Rome
ROME (Reuters) - The leaders of Germany, France, Italy and Spain will try to find common ground in Rome on Friday to restore confidence in the euro zone ahead of a full EU summit next week, which Italy's prime minister called a defining moment.
Glencore protests at Bolivia mine nationalization
LONDON (Reuters) - Angered by the nationalization of a tin and zinc mine in Bolivia, global commodities firm Glencore said on Friday it may seek compensation domestically or abroad.
VW, Porsche deepen production links despite stalled merger
BERLIN (Reuters) - Facing a drawn out battle to complete their long-planned integration, Volkswagen and Porsche will forge ahead with tighter manufacturing links that could deliver hundreds of millions of euros in annual savings.
Bain to pay $1.3 billion for half Japan TV shopping channel: source
TOKYO (Reuters) - Private equity firm Bain Capital will buy a 50 percent stake in Jupiter Shop Channel, a television shopping company, for about 100 billion yen ($1.3 billion) in Japan's largest private equity transaction this year, according to a person with direct knowledge of the firm.
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