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Monday, July 23, 2012

Business Today: Wall Street futures track global selloff on EU worries

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07/23/2012
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Wall Street futures track global selloff on EU worries
NEW YORK (Reuters) - Stock index futures fell sharply on Monday, tracking a selloff in global markets as Spain appeared closer to a sovereign bailout and fears grew that Greece may be approaching an exit of the euro zone.
Peugeot-Toyota van deal ups pressure on unions
PARIS/TOKYO (Reuters) - PSA Peugeot Citroen announced a van production deal with Japan's Toyota , raising pressure on unions to make concessions on pay and conditions or face a second closure of a French factory.
China's CNOOC to buy Canada's Nexen for $15.1 billion
HONG KONG (Reuters) - China's top offshore oil producer CNOOC Ltd has agreed to buy Canada's Nexen Inc for about $15.1 billion in one of the most ambitious acquisitions by a Chinese company to date that may test Ottawa's tolerance of foreign takeovers.
McDonald's second-quarter profit falls, sales slow
(Reuters) - McDonald's Corp reported lower-then-expected quarterly profit on Monday, hurt by a slowing global economy and the impact of a stronger dollar, and forecast growth in sales at a established restaurants would slow this month.
Halliburton profit beats estimates on international business
(Reuters) - Halliburton Co , the world's second-largest oilfield services company, reported a better-than-expected quarterly profit on higher drilling activity in its international markets.
What's up dock? Apple to shrink connector for iPhone 5
TAIPEI/HONG KONG (Reuters) - Apple Inc's new iPhone will drop the wide dock connector used in the company's gadgets for the best part of a decade in favor of a smaller one, a change likely to annoy the Apple faithful but which could be a boon for accessory makers.
Watsa reports 10 percent stake in RIM
(Reuters) - Investor Prem Watsa reported an almost 10 percent stake in Research in Motion Ltd as of July 4, according to a regulatory filing.
China's Hunan Ava Dairy recalls tainted infant formula
SHANGHAI (Reuters) - China's Hunan Ava Dairy Co Ltd said on Monday it will recall baby formula sold under its Nanshan Bywise brand after a cancer-causing agent was found in test samples, the latest blow to the country's scandal-ridden milk industry struggling to restore consumer confidence.
Greece's EFG Eurobank to split from EFG Group
ATHENS (Reuters) - Greece's second-largest lender EFG Eurobank said on Monday it would split from EFG Group at the request of European regulatory authorities.
More UK banks to review sale of hedging products
LONDON (Reuters) - Seven more British banks have agreed to review past sales of interest-rate hedging products to small businesses and to compensate customers for any misselling which may have occurred, Britain's financial regulator said on Monday.
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